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Phillip Tarrant, CEO of Managed, pulled no punches emphasising the need for acknowledgement and recognition for property managers in the midst of a “property management crisis”.
While growing emphasis is placed on the housing crisis and cost-of-living crisis, the real estate industry needs to look closely at the crisis it faces in property management.
Speaking on a recent podcast to an audience of property investors and mortgage professionals, Tarrant stressed the critical role property managers play in Australia’s rental market, and just how stretched the sector is.
“It’s a constant battle sitting between landlords and tenants, trying to interpret the rules and trying to add value to a landlord – while at the same time ensuring that the duty of care of the tenant is respected,” he said.
“We don’t have enough property managers. It’s a tough job, they work hard, it’s relentless.”
According the SEEK, there are currently over 1,000 open vacancies for residential and property management positions in Australia, out of a total 2,636 listings across the entire real estate and property sector category.
“Property management in Australia is at a crisis level,” he said.
“Everyone talks about the housing crisis, the cost-of-living crisis, well there is a crisis in property management today.”
“This is a huge issue … a third of Australians rent and 70 per cent of them are managed by a property manager. We need [this] sector humming … to be proactively working with tenants and landlords to create a much better environment.
Augmenting his role as CEO of Managed, Tarrant is often vocal regarding the issues facing the property management sector as the host of The Smart Property Investment Show.
He is considered one of the most influential voices in property investment in Australia with significant respect in the property owner and buyer sector.
For a decade he has offered insights and commentary for investors and the wider real estate sector, with the show surpassing more than 12 million downloads.
As a property investor and also an advocate of the property management sector, Tarrant stressed the critical role property managers play and the urgent need to support the industry.
This was especially important, he said, considering the myriad new rules and regulations being introduced by state governments regarding changes to tenancy laws – which property managers are expected to interpret and administer.
In NSW, changes to the rental laws have only just been handed down.
From 19 May 2025, NSW property owners will not be allowed to evict tenants nor deny pets in their properties following the state’s latest slate of rental reforms.
The new rental rules follow a bill amendment passed in October of last year, which ended the “no-grounds” evictions in NSW and implemented new rules for pets in rental homes, fulfilling Labor 2023 election pledges.
Speaking on The Smart Property Investment Show, Tarrant said property managers play a crucial role in navigating the complexities of regulatory changes such as these.
However, the sector is facing its own challenges, with a significant shortage of property managers in Australia.
The demands of the job, coupled with high turnover rates, have made it difficult to attract and retain talent in the industry, he said.
During the COVID-19 pandemic, property managers were at the forefront, managing tenant-landlord relationships amid financial hardships and government-imposed restrictions. The stress and pressure of the role led to a huge reduction in the workforce, a gap that has yet to be filled.
But Tarrant said there are obligations on all stakeholders to ensure a smooth and productive relationship, especially from landlords.
“Be nice to your property manager. They’re working for you, but they’ve got a very busy and sometimes uncertain job.”
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