EPM
-
How to attract new landlords in 2020
The end of the year gives most of us a chance to wind down and really kick into holiday mode, but the same can’t be said for many Australian renters and landlords. January is consistently the busiest time on realestate.com.au for renters. In fact, in January 2019 we had over 20 million visits to our rent section, according to Adobe…
Read More » -
NYE parties in rentals: What are the risks for PMs?
New Year’s Eve is traditionally when people reflect on the year past and what the next 12 months may hold. It’s also a time when people let their hair down and revel! Hosting NYE parties, and entertaining in general, can expose investment properties to a few risks. And while most would rather be a party-popper than a party-pooper, a bit…
Read More » -
Five big issues that affected the real estate industry in 2019
The real estate industry is never stagnant. It is impacted by regulation changes, the rise and fall of the economy, buying motivations and the generosity of banks. Heck! Mother Nature can even wreak havoc and play a part in the way we buy, rent and manage property. This year has been no different. There have been ups and downs, and…
Read More » -
How to make Mission 2020 into Mission Possible
When people have asked me in recent months how I am, one of my go-to responses has been ‘excitedly exhausted’. While 2019 won’t go down in the books as the best year in my life, I am learning to find the gifts within it. That’s what you’re meant to say when things have been tough…
Read More » -
Two things that grew rent rolls this year (and one that didn’t!)
The end of the year is the perfect time to examine what worked and what didn’t when it comes to growing rent rolls. I worked closely with owners in the start-up stage of growing their rent rolls (pre-200 properties), and it was clear two things made a significant difference in growth over the past 12 months. Interestingly, there was one…
Read More » -
Protecting properties this festive season
For many people, the image of the festive season is one of joy. But sadly, once the last of the Pavlova has been eaten, many landlords and agents will face the harsh reality of what the season can bring for investment properties. Now, I don’t want to be a party-pooper, but things happen and you and your landlords and tenants…
Read More » -
How to know when to go
It’s a question most employees and many employers will consider at some stage in their careers. Change, as they say, is inevitable. Perhaps you have lost the passion for your job. Maybe you’re in a rut or find yourself heading in a different direction to the business. Then again, you may just want a new challenge. Before you make the…
Read More » -
6 tips for property managers to thrive in the customer experience economy
The CX economy is already here. Let’s begin by stating the obvious: the property management industry is in flux right now. Owners have more options than ever and expect more value from property management services as a result. Agencies can no longer compete realistically on price, with margins already wafer-thin across the industry. Add difficult market conditions and marketplace disruption,…
Read More » -
Jo-Anne Oliveri: Win the cost war
When it comes to your property management business, there are good costs and bad costs. Good costs provide a return on investment (ROI), while bad costs negatively impact your profitability. Here are some of the most common costs and why they are good or bad expenses. GOOD COSTS TRAINING Training is a good cost and a good investment. Effective training…
Read More » -
The do’s and don’ts of landlord insurance
When you are in a highly-regulated industry such as real estate, things can change quickly and get complicated. Throw in the complexities of insurance, and we wouldn’t blame you if you started pulling your hair out. START AT THE BEGINNINGTo keep your locks intact, it is a good idea to know your rights and responsibilities as a property manager and…
Read More » -
Whose goal is it anyway?
What do dresses, my parenting skills and real estate have in common? You’ll never guess, so I’ll tell you – goal setting. More to the point, collaborative goal setting and the ability to know when to take over and when to co-operate. I came to the sudden realisation recently that collaborative goal setting may not be as simple and automatic…
Read More » -
How to stay productive in the lead up to the silly season
Q: It’s almost the end of the year and I am feeling overwhelmed. I don’t know where the year has gone. Help! Ain a society where consistent connection into the matrix has become the new normal, it can be easy to become overwhelmed. As we head towards the end of the year, it is wise…
Read More » -
Incentive structures for BDMs and how to calculate packages
Q: What incentive structures do you recommend for a BDM? A: There are many incentive structure options. However, my preference is to incentivise on both volume of results and revenue generated. Of course, consideration also needs to be given to the base package and allowances in place for the individual. The structure must also motivate the BDM and make financial…
Read More » -
Top 5 areas to monitor in property management
In all areas of business, what gets measured gets done, and of course Property Management is no exception. But with so many areas, it can be difficult to know what to measure. Whether you love or hate numbers, knowing the position of your business and the metrics for success is imperative. Of course, these numbers…
Read More » -
7 tips for property managers to decrease stress and increase productivity
Having just entered the new financial year, now is a good a time to take stock of the health of your portfolio and consider some of the following areas: Rent reviews and lease renewalsUpdate in line with the current market and ensure tenants are on fixed-term leases. Repairs and maintenanceHow many outstanding work orders are…
Read More » -
The value of choice
As I continued my crusade in the industry, shouting about the arrival of choice and the departure of disruption, I realised recently that I have started making different choices. Choices I never thought I would make. You see, I love grocery shopping. Yes, I know you may think I am strange, but cooking is my happy place. I’m no culinary…
Read More » -
From property manager to trusted adviser
Traditionally the role of a property manager has been administrative and task focused, which often results in clients perceiving them as low value. There are several reasons why, and it’s an important part of the conversation. We need to understand what we need to change to become more relationship focussed, with an emphasis on trust and wealth creation. This is…
Read More » -
Are your landlords the right fit for your business?
I spoke at the PPM National Property Management Conference on the Gold Coast in June and posed the question “who is the real boss”?
Read More » -
10 things every principal should know about property management
From what I’ve seen, most principals have taken a similar journey en route to taking the reigns at their agency. You were a successful salesperson who embraced the natural progression of opening or buying your agency. You knew property management played a vital role in the future success of the agency, but it was an area you knew little about.…
Read More » -
What to do about that bad review
Today I want to focus on rating websites, which is an area we all love. There are so many to choose from, and you need to work out which ones will get you the most leverage and best position online, so you’re visible to the consumer. The problem is how do we get the consumer to share across all review…
Read More » -
Life begins at 40
Rockend will mark 40 years in business in September. This is an impressive milestone for any technology company, especially when you consider the internet only became widely available to Australians and New Zealanders in the mid-90s. Reaching this milestone lends itself to looking back on how much the real estate industry has changed over the past four decades. As a…
Read More » -
Responding to changes in domestic violence laws
The changes to family and domestic violence laws are a welcomed change for Australians who believe in a strong and resilient justice system. While the amendments are designed to better respond to those suffering abuse, they also affect landlords and property professionals who own and manage rental properties. Previously, rental laws have restricted tenants affected…
Read More » -
Don’t be a fire risk: Preparing rentals for bushfire season
With bushfire season starting earlier, and lasting longer, landlords and property professionals need to make sure investments and incomes are better protected should disaster strike, says insurance leader Sharon Fox-Slater. This comment comes on the back of the New South Wales Rural Fire Service being forced to bring forward the start of its bushfire danger period by two months. And,…
Read More » -
Show me now: Sophie Lyon’s winning inspection idea
An innovative idea for an app that gives tenants the chance to view more rentals – and property managers more time in their day – has taken out a top new real estate award.
Read More » -
Ask the coach – How to encourage the sales team to send more PM leads
Sales referrals into our PM team have really slowed over the past few months. How do I encourage the sales team to send me more leads? The great news is that after winter, the spring selling season provides increased opportunity in property management and sales. Firstly, you need to get back on the sales team radar. Make sure you are…
Read More » -
What matters most
Why is there the need for more innovation in property management in Australia? It’s because renting a property is such a difficult experience in this country,filled with administrative tasks – from communicating with stakeholders, filing paperwork, meeting legal requirements or dealing with maintenance issues. This rings true for everyone involved in the process. Also, today’s customer expectations mean they have…
Read More » -
Know your numbers
It can be hard knowing which financial figures you should measure, monitor and manage in your property management business. As the business owner, you have a responsibility to know your agency’s numbers so you can keep everything on track. Here are five financial figures you should know in your property management business: 1. AVERAGE WEEKLY OR MONTHLY RENT You should…
Read More » -
Are you working to live or living to work?
More and more Australians are going above and beyond in the workplace, and the real estate industry is far from immune. Kate Strickland ponders the big question of inner guilt and fostering the work/life balance.
Read More » -
Ask the coach: How to stay on top of the repairs and maintenance process
Q. My repairs and maintenance always seem to be out of control. How do I get on top of this process? In terms of property management, it can sometimes be what feels like a never-ending mountain. Having a sound process in place to handle maintenance can really save you time and stress down the track. Data is your goldmine, so…
Read More » -
Recruiting for performance
If you’re a manager or leader you will likely have come across the age-old challenge of balancing values with results. It’s a tough question; how do you create a sustainable culture that balances and upholds set values and is equally performance driven? In any team, there are usually four types of performers. Jack Welch, Chairman and CEO of General Electric…
Read More » -
Business auditor reveals the 7 most frequent failures by Australian organisations
A leading global risk management provider has revealed the most common reasons why organisations fail to meet the goals they set. SAI Global is a trusted global leader in risk management solutions through its standards, assurance and training offerings across more than 130 countries. Over the years they’ve audited thousands of organisations – from the ASX top 200 to SMEs.…
Read More » -
Business game plan
Firstly, yes: a business plan is important and can help greatly, but a business plan has no hope without belief and action. Having the belief and intention of mind is what creates success, writing it down is just a reminder. So giving yourself a clear reminder of what you want to achieve in the form of a hard copy plan…
Read More » -
18 things that will make you a better leader: Chris Hanley
Don’t ask successful people what they do now; ask them what they did back then to go from there to here. What did they change and what did they implement? I have found most people know what they need to do to be a better leader or salesperson or musician. When tested on what they need to do, most people…
Read More » -
Is your workflow just a checklist in disguise?
At conferences I’ve been hearing words like “workflows”, “automation” and “AI” being thrown around. Understanding the nuances is key to making the right decisions for the future of your business. For this reason, let’s further investigate the use of the word “workflow”. Great technology is the difference between a simple digital checklist and automated workflows. Checklists assume property management is…
Read More » -
Now is the time for that annual insurance review: Sharon Fox-Slater
A new financial year has dawned and chances are you’re busy setting some fresh business goals while gathering all your paperwork for your tax agent. While reviewing the insurances on your RE business might not be at the top of your list, now just might be the best time to do so. Many small business owners take out insurance at…
Read More »