As a small business owner, I obviously understand that there is a need to focus on the positives, focus on the service offerings, and how the business can help each and every client.
We read, hear, and see all about what a business does all the time, however, we never tend to share or “advertise” what our limits are and what we simply will not do.
On principle, a lot of what I will not do revolves around not lessening what I do or cheapening the industry that I know and love. The day to day workload is underestimated and so much of it happens behind the scenes.
We all want to go out of our way for clients, but at the end of the day, we all have our limits.
I recently sat down for a chat with Allysha from “The Organised Boss” and we spoke about how liberating it is to simply not offer a service we don’t wish to or one where there’s little value for the client and/or ourselves. Simply not saying yes to everything can be really liberating.
So, here is what I don’t do, won’t do, and why that is. It may be on principle, logistics, or just simply down to profitability, which as a small business is obviously paramount.
Short Term Leasing or Management
I am in it for the long term. I work with property Investors and they all know it is a long-term game. What I focus on is building good relationships with my clients by focusing my time and energy on ensuring that my client’s investments are looked after and grow in value over time. I onboard clients that are on the same page as it is really not worthwhile to onboard clients who are needing rent for just 6 or 12 months and then it is, see you later Antonio!
This is where the owner simply needs a tenant placed in a property and then takes over the day to day management for themselves. I don’t offer this service, despite multiple requests, simply because leasing isn’t about putting in the first tenant that comes your way and then passing it over. There is a lot of legislation and regulations that need to be adhered to and since 23 March 2020, it only got more litigious.
Also, regardless if you then pass it on to the landlord to manage, if the landlord does not manage the property appropriately, the tenant still associates the agency that advertised the property in a negative manner and I will not put my business name and brand image at risk.
We are, The Management Agency, so needless to say we’re here to manage properties.
In my experience, furnished properties lead to short term tenancies. I have always felt that it is in my client’s best interest that long-term tenancies are a better investment option. Having to regularly change tenants increases vacancy between tenancies, along with needing to advertise the property, and securing a new tenant, and so on, is not cost-effective for my clients.
As I have written of the advantages and disadvantages of furnished properties here previously, a constant changing over of tenants increases the wear on a property and also sees the owner incurring increased maintenance costs.
The Management Agency will always put its clients first and maximise their investment before profits.
Take on all and every Property
I don’t take on every property that I’m given the opportunity to manage as unfortunately, things don’t always align in that way. If it’s well out of my core area or the owner and I are not on the same page, then I won’t make assurances I can’t fulfill down the line. Further to that, I like to find out why owners are looking to change agents so that I can assure them that I don’t operate in the same way.
Taking on what were Airbnb’s and/or properties where there is animosity between current tenants and the landlord, I can’t always get involved if I don’t think the issues are resolvable. I always have to take into account the focus I need to give my current clients before securing any new business.
Negotiate on Fees
Oh, here’s a Biggy. Over the last year I’ve gotten a lot better at this and have unfortunately not won all the new business I go for because of it and that’s ok. I’ve done my years in agencies underselling or not believing in the service they offer.
I can’t be another flat fee, fee-free, or rent guarantee agent. Property Management is a tough gig at times. There are plenty of agents doing it on the cheap with huge numbers of properties under management but…you get what you pay for!
Keep in mind, for an agency to offer you a flat or low fee, that equates to a Property Manager needing to manage more properties in order for the agency to make a profit. So, if a Property Manager is managing a high number of properties, how much attention can they offer your property? Are they able to respond and attend to your property needs in an efficient and prompt manner?
If as a landlord you’re displeased with the service you’re getting at a Low Management Fee agency, there is a correlation here.
Like one of my clients recently said, you can’t go into Mercedes and expect to buy a car on a KIA budget.
The Management Agency is focused on ensuring that we look after our client’s properties as if it were our own, being able to effectively attend to our client’s property investment needs and eliminating the stress that comes from owning an investment property, so that is why we don’t negotiate on fees.
Make promises I can’t keep
I will never make promises that I can’t keep. Simply put, If I can’t do it, I won’t say I can
For everything that I do, I ensure that it is done well.
We pride ourselves on offering the highest possible service and our online Google Reviews and testimonials from both Landlords and Tenants alike reflect this.
On that last point, a complete refresh & restructure of our website is currently in the works.
Antonio Mesiti is the Principal & Property Manager at The Management Agency, a local Property Management specialist offering a one on one and end to end service for his Property Investor clients. For more information visit; https://themanagementagency.com.au/about/