Posts Tagged ‘property management’

SOCIAL MEDIA FOLLOWING

GETTING STARTED ON SOCIAL MEDIA AS A PROPERTY MANAGER 10 STEPS TO START YOUR SOCIAL JOURNEY – ATTRACT AN IDEAL AUDIENCE OR CLIENTS AND BUILD AN UNFORGETTABLE DIGITAL PROFILE I’m just going to say it, if you’re not on social media and promoting yourself or your business on there, you need to get with the times. So, let’s get with the times. I know just how daunting it can be getting started. Two years ago, I had an idea for a side hustle and didn’t know where to start, and after lots of trial and error, I have managed to grow a following, boost my profile and engage with many likeminded people in the business. It is still a work in progress and like everything in the digital world it… Read More »

HOW TO AVOID BURNOUT AS A PROPERTY MANAGER

It is most certainly the crazy times we are living in. I keep waiting for this COVID thing to be over, I mean seriously how long does a Pandemic last for! It is becoming most inconvenient now, and I’m most definitely ready for life as we knew it to return. Covid-19 has certainly changed the world we are living in, personally and professionally. There was a slight reprieve mid-year from the craziness and then it went to a whole new level yet again. Victoria hardest hit of course, although New South Wales has faced its fair share of challenges too with an array of community restrictions. Personally, for me, there have certainly been some challenges. Not being able to see my mother in her nursing home for extended periods was… Read More »

NEW QUEENSLAND SMOKE ALARM LEGISLATION

Are you across it? Are your Landlord’s across it? You thought you had years to prepare, but all of a sudden the deadline for the new Queensland Smoke Alarm legislation is imminent, pressing a lot closer than you think. I’d been exceptionally nervous if I had a large rent roll to make complaint before the deadline. The deadline for the upgrades is January 1st, 2022, but with around two million households in Queensland as of the last census, there’s going to be a lot of properties requiring the work to make them compliant with the new legislation. We commenced a two-year rollout plan for our management’s from January this year. After meeting with countless smoke alarm companies and electricians, we finally settled on a partner to help us navigate the… Read More »

WHY YOUR BUSINESS NEEDS A VIRTUAL ASSISTANT

When it comes to an x-factor in business you have to be brave, you have to think outside the square and you have to take a risk. Virtual assistants have turned out to be that x-factor in our business. A Virtual Assistant is a multi-skilled, self-driven, who provides professional administrative, technical, or creative assistance to clients remotely or from a home office.If you’re not familiar with a virtual assistant in real estate they are basically, usually foreigners working from somewhere like India or the Philippines who assist your business with the administrative tasks. While there are savings in terms of wages, tax and super, probably the biggest saving though for a small business is the saving it takes in the time to train someone to complete various tasks. As we… Read More »

15 QUESTIONS EVERY LANDLORD SHOULD ASK THEIR PROPERTY MANAGER? AND THE ANSWERS EVERY PROPERTY MANAGER SHOULD HAVE

New agencies are popping up everywhere these days and it has never been easier for landlords to jump ship and try a new agency. In Queensland under the new legislation, it is only 30 days before a landlord can change to a new agency if the property is tenanted, but if the property is vacant the change can literally happen overnight. There are many reasons why landlord changes agencies and you can check out some of my previous blogs for more information on this topic like, Why Budget Agency Doesn’t Mean Best or The Three Strikes You’re Out, which addresses the top reasons landlords leave an agency. Researching for a new agency has also changed thanks to the internet and digital marketing. Once upon a time most landlords were either referred by somebody… Read More »

RENT ROLLS – HOW TO BUILD A RENT ROLL

Starting a rent roll, how hard could it be? Just because it might not be easy doesn’t mean you shouldn’t start one. A rent roll is typically the rental division of a real estate agency, which deals with collecting rent and managing landlord’s investment properties. In return for these services, a real estate agency collects a commission and other administrative fees from the weekly rent the tenants pay. Why would you want to start a rent roll you might ask? I asked myself the very same question when posed with the choice of commencing one over a decade ago. I won’t lie it has delivered some very high and very low moments, but once we overcame the initial hurdles like what the hell we were doing, we really haven’t looked… Read More »

SELECTING AND ONBOARDING NEW TEAM MEMBERS

Selecting and Onboarding New People in Your Business – How Hard Can It Be? It can be an exciting time when you have new people joining your business. In the early days of starting out it means you are expanding and growing and it is time to hand over some of your previous tasks to someone new, so you can focus on other things like the growth of the business. Once you are set up and established though, team turnover can be fraught with trepidation, are they going to last, will they be the right fit, there’s so much training involved are they going to stay or am I wasting valuable time and money, can I trust them, will I be let down like the previous person and the list… Read More »

HOW TO DEAL WITH RENT ARREARS AND NEGOTIATING A RENT REDUCTION IN COVID-19

Since the Australian Prime Minister Scott Morrison announced the Covid-19 moratorium on evictions, property managers and investors have had one single thought on their minds, what is this going to mean for rent arrears? Rent Arrears is probably the single biggest stress and cause for angst for property managers, business owners, and landlords, largely due to the spiraling effect the non-payment of rent means for everyone involved. For Queensland, our worries have been alleviated somewhat, with the Government announcing new temporary legislation concerning the boundaries for the rental properties and the pandemic. The good news is that a tenant now has to prove their financial hardship as a direct result of Covid-19 as the first criteria, the next criteria are that they have to show a 25% reduction in income… Read More »

DEALING WITH RENT ARREARS IN THE CORONAVIRUS

It’s the hottest topic in Property Management amidst the Coronavirus pandemic, how are we going to deal with Rent Arrears and financial hardship? It may seem overwhelming right now, but rest assured with some thought and planning there are solutions. The important thing is to not ignore the situation and start looking at your business or property management processes and see what needs to be addressed first. Spend some time and develop clear steps for dealing with the different scenarios that are likely to present themselves. Importantly make sure everyone from your team, landlords and tenants are all on the same page with the plan of attack and deal with each case that is presented on its own merits. The Government is still working on addressing issues with tenancies and… Read More »

ADVERTISING YOUR RENTAL PROPERTY

Advertising your investment property correctly and appropriately is absolutely vital when the property becomes vacant. Nowadays, renters have access to multiple online portals when hunting for the perfect rental property. Therefore, it is important to ensure your property is being seen! Here are some things you can do to ensure your property is reaching those who are on the hunt for a rental property. ONLINE PRESENCE Digital media tends to attract active buyers who are specifically looking in a certain area. With a large number of properties going live every day, you need to make sure your property is not missed. It is more important than ever to ensure your property appears on the first two pages of online portals such as realestate.com.au and domain. Here at iThink Property, we… Read More »

Next Entries »