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More pressure than ever is on property managers. It’s coming from both sides, from both property owners and tenants.
Right from the beginning of my property management career, I wanted to be one of the best. You might say I’m competitive, but I also wanted to provide the best services to the property owners and tenants that I work with.
It’s also because I love the industry. You must feel passionate about it if you’re going to excel. You need to be compassionate and understanding of both owners and tenants. It’s our job to make sure both parties uphold their side of the tenancy agreement.
As a result of the current property market, tenants are now paying more for rent. So, we try to make their lives easier by taking care of repairs and maintenance quickly. This also benefits the owners by preserving their investment.
We do that in lots of ways. We’ve just started working with an Internet of Things company called Sensor, which provides water leak detectors and smoke alarm systems that we can monitor 24 hours a day.
In my experience, we typically don’t discover leaks for months. Major damage is often done before the plumber gets called. With Sensor’s leak detectors, we get a notification right away and can fix the leak before any major damage is done. This not only minimises disruptions to the tenant, but also saves the landlord on potential repair costs.
I was lucky when I started in property management because the owner of the business where I first worked really took me under her wing. There was a house fire in one of her properties recently. The tenants had taken down their smoke alarm because they were cleaning it. They wouldn’t have woken up, and I hate to think what would’ve happened to them if a vigilant neighbour hadn’t noticed the fire and got them out of the house.
The new Sensor smoke detectors we are installing will tell us immediately if the device is tampered with. We also save hours by not having to dispense keys, issue entry notices, or arrange inspections with tenants.
I’m always looking for the best solutions for my owners and tenants, because that is one element of being an industry leader. Another is keeping up-to-date by networking and speaking with other property managers.
It used to feel like everyone in the industry kept to themselves and didn’t like to share ideas. But networking opportunities have come a long way in the last few years.
I love being a part of Ash Goodchild’s PM Collective and being on the REINSW Property Management Chapter Committee. I have met so many lovely property managers, and the connections I have created with other members are invaluable.
One of my professional goals I am working hard towards is to help remove that stigma that says that real estate agents are dodgy and are responsible for the lack of affordable rentals. A few of us are doing the best we can in the circumstances, and solving rental affordability will take a lot of people working together.
Personally, I found myself drawn towards the real estate industry. I had been doing ballet full-time and then was a personal trainer. Silly me. I thought getting into real estate would allow me to have a regular nine-to-five job.
If I were advising a young person wanting to get started in property management, I would say look carefully into the place where you think you might like to work. I was lucky where I started. My first boss is a real professional and gave me a good foundation, but not every office is like that.
Look at their reviews and see what people are saying. Attend their open homes and see how their staff behave. You need to know what the office culture is like before you start working there.
If your new office doesn’t have high values and morals, that can undermine your longevity in the industry. Real estate is a long game, so finding a company that will teach you, nurture you, and give you training will set you up for a long and happy career.
In conclusion, excelling in property management requires a blend of passion, innovation, and ethical practices. I invite fellow property managers and aspiring professionals to join me in adopting these values to elevate our industry and provide exceptional service to both property owners and tenants.
Simone Fogarty is a director and senior property manager at One Agency Orange.
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