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Property managers will sit down with the leadership of the Real Estate Institute of Australia (REIA) in a bid to help the sector deal with the issues stemming from the country’s rental crisis.
The REIA is hosting a roundtable on 1 November, with the objective being to create an action plan to guide the sector over the course of 2024.
With record low vacancy rates putting pressure on everyone involved in the rental market, the job of a property manager has shifted significantly over the past year and will likely continue bearing the brunt of stress from all parties as the rental crisis rolls into 2024.
REIA president Hayden Groves said that leaders at the institute and its associated state bodies realised there are more needed to be done to support rent roll businesses through this challenging period.
“The role of the property manager is becoming increasingly more complex at a time when both investors and tenants alike are heavily reliant on their expertise,” Mr Groves acknowledged.
He said that the institute is looking to bring together thought leadership to equip the professionals at the centre of the situation.
“The political and media environment surrounding rental properties has never been more intense and we need to work together as an industry to provide the best possible experiences for our tenants, our investors and our employees.”
REIA deputy president Leanne Pilkington explained that the roundtable would serve as a jumping-off point for the body to strengthen its support of the sector as it grapples with the changing rental market.
“Be it people and culture, recruitment and retention and lack of availability of rental listings property management businesses have a lot to navigate. The roundtable is a first step to create a better national forum to share ideas, best practices and for leaders to direct a plan to help all consumers in the rental transaction,” she said.
The day-long event will canvass industry insiders’ thoughts on the challenges and opportunities associated with attracting investment, remaining innovative, supporting mental health, and dealing with interpersonal relationships both at work and in the community.
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