Performance VS Trust

30/4/2020

Performance & Trust, these two things matter greatly when we do business. Trust matters more so in life generally but both are of great importance when working through what we’re all dealing with this year.

Performance is getting results i.e. properties Leased as quickly as possible is the goal of any Property Manager or Leasing Team.

Performing is part of the role and it’s greatly important, achieving end goals and results for your clients and your team but what about TRUST.

Trust is well, everything.

Simon Sinek breaks this down beautifully so check out this quick 2 min video.

In Property Management, some level of Trust is SO important understanding that it’s built over time through actions more so than just words.

Why the random blog about Trust and how this ties back to Property Management, well this example below is what got me thinking about Trust in business and the component of Trust when you appoint someone, like in Property Management to manage what may likely be your most valuable asset.

 

Having had a few tenants vacate throughout 2019, I’ve found it pretty concerning that in many cases my tenants had secured their new rental property and I hadn’t had a call or email from their new agent or landlord to seek a Rental Reference.

These tenants would’ve had nothing to hide, they were all great, but it’s a little scary to know that their new landlords or agents aren’t doing their due diligence by making a call to find out more about how their current tenancy has been progressed.

When seeking a rental reference, at the very minimum, you want to know:

  • How a property has been kept and maintained during the tenancy
  • How the tenants have been in terms of timely Rental Payments
  • If there have been any concerns at inspections or in generally working with the tenants

And you’d really seek out proof of rental payments in the form of a rental ledger. While a lot of this can be covered in a questionnaire that agents send to each other, a brief phone call can tell you so much more.

In the cases I’ve had recently, there’s been no questionnaire or call. What if they weren’t ideal tenants?

As I said, my tenants have been great and I would’ve recommended them in any case, but why would the Property Manager take the risk or wait to see how it pans out without making that call. They had my details.

What are these landlords getting in terms of service and basic duty of care if they can’t rely on their appointed agent to look out for them? What if that tenancy goes pear-shaped and it surfaces down the track that no one ever sought out references.

A Self Managing Landlord could also put the first applicant that came forward into their property.

As a landlord, you need a relationship built on TRUST, but as agents, we also need to be doing the right thing by our clients which is our role from the outset anyway.

Most landlords will wait for the right tenant, the right fit for their property and that should also be the Property Managers’ goal, not simply to get it off their books and get it generating income.

I understand the need for minimising vacancy, but there are steps that have to be taken regardless.

Performance and results are important but not as Important as Trust!

This is where The Management Agency is different, Your Property Manager, Antonio meets all prospective tenants at ALL showings of the property and see’s the process through from Showing to letting to the ongoing Management.

There are only a few of us Property Managers that operate in this way, we work hard but diligently and I can tell you first hand, it works well.

Have a read of what real Landlords and Tenants are saying about The Management Agency here. They’ve really been showing me the love lately.

So, who’s got your back? Not just in troubling times, through all times!

Antonio @ TMA

 

Are you in doubt as to whether or not your property is being looked after properly?

Comment below or email me to get a copy of my Landlord Checklist. A simple Tick box list of things your Property Manager NEEDS to be doing.

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