| Training : Agents : Property Management: Tips
PROPERTY MANAGEMENT TIPS
At open for inspections always take details of prospective tenants such as their name, contact number and identification. If they cannot provide identification, nicely suggest that unfortunately you cannot let them view the property, however you are happy to arrange another mutually convenient time. This will ensure the safety of all staff but also that the security of the property is maintained. Obviously If you are asking for identification you will need to give a copy of a privacy statement to each tenant wishing to inspect the property. It is also a good idea to have a laminated copy of your conditions of entry in A3 format which can be displayed at the entrance to the property.
Do your staff spend hours entering receipts and taking money over the counter for rent. In this day and age your office needs to be working smarter not harder. Look at changing your receipting process by introducing BPay, Direct Debit or Rent Card Systems all save time and money! Just a few simple changes to the procedures you use to receipt rent
can change the way your office runs forever. Leaving your staff time to do what
you really want them to do, List and Lease
I always carry a spray bottle of cleaner and some cloths in my car. So many times a tenant misses a relatively minor cleaning item. They (or I) can save time by attending to it straight away.
Always ensure the office knows your exact whereabouts and time of return when conducting a property inspection.
Always keep a garbage bag in the boot of staff cars, so when they are either driving past or conducting an inspection at a vacant house they can place the "Junk" mail in the rubbish bag then throw it out when getting back to the office. Advising a prospective landlord that you do these small extras can be enough to get the authority.
I bet the Trust Accounting package that you use has the most fantastic task management system, that was one of the reasons you bought it right?? You need to ask your staff if they know how to use it properly, get them to demonstrate it for you and ask them to print you off reports every week to ensure that they are staying on top of things.
Have you ever waited at a property and the prospective tenants failed to arrive. I think we've all done it! Save time and SMS/Email/Phone and remind and confirm the appointment.
When booking an appointment for a prospective tenant to view a property, place the time and date on your rental ad to attractive more tenants, this will also save you time running to and from the same house for multiple inspections. When at a rental inspection, place an Open for Inspection on the nature strip, not only will you be showing the neighbours that you are actively promoting the property but it also allows prospective tenants to call in.
Agents should discourage the collection of cash, in or out of the office. Promote alternative methods of payment where possible. An agency that is known to receive cash payments becomes a burglary target. Unless cash-handling security arrangements are put in place, cash in the office or with an agent becomes a major health and safety risk for employees. Encourage tenants to pay rent electronically or by cheque.
With a little training and an understanding of the rules and new regulations your property management department can adapt to include a body corporate department. Like your rental roll a body corporate roll can be an asset to the business. There are other ways of increasing your property management departments income perhaps some of the following ideas might be an option you could consider the following ideas! Rewards & Referral Bonuses- Reward customer loyalty and offer your customers a bonus for referring their friends and families to your office, it might be 3 months free management, a free letting fee or a bottle of champagne and some chocolates. Get to know a few local developers and keep in contact with them, they may not be happy with the current agent they use and might be looking for someone who can deliver better service! Call them at least once a month, brag about your service and let them know that you really want their business.
If you have a lot of tenants wanting to inspect an occupied property at any one time, it is important that you and the tenants respect this home. Only allow the number of prospective tenant through that you can view at anyone time. If you have a lot of tenants waiting, place a laminated sign at the front door advising the tenant you are currently showing other tenant through the property and that you will attend to them shortly , It may also be necessary to lock the door while showing each group through to prevent people from wondering in.
Agencies should have procedures in place for the safe custody of keys. Keys should be coded or tagged in such a way that the property address can't be identified. Keys that show a property address may be used to gain unauthorised access, and this may compromise an employee's out-of-office safety. If keys are handed out for prospective clients to conduct their own inspections, recommend that the new tenants change their locks, as keys can be easily taken to a locksmith for copying.
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