The top 6 reasons to switch your property manager
- January 8, 2018
Here at :Different, we’re all about fusing technology and Australia’s best property management agents to create a better service for our owners. What we’ve found since we started this company, is that a lot of owners (around 70% by our calculations) are quite unhappy with their current Property Manager, but not sure of a better solution so they’ve stayed unhappy for several years. Sound familiar? Well, our team has put together a list of the top 5 reasons you should immediately look into switching your Property Managers. If you relate to any of these, then we should talk (and we’re offering a free chat with our agents at the end of this post).
1. You’re paying too much
If you’re like most property owners in Australia you’re paying between 7% and 10% of your rental income to a property manager. Seems high right? Well it is, and that figure is the number one reason you need to switch property managers. If you have an expensive rental property, then 10% essentially adds up to throwing away an entire month’s rental income, every year. We think that’s simply too much money. You should know that newer solutions like :Different no longer use this predatory charging method and have a simple flat fee for all their customers. Here at :Different, our customers pay a simple $100/month fee, no matter how much they charge in rent? Sounds nice huh? Keep reading please.
2. They don’t use technology
You use apps in your daily life, so why doesn’t your property manager? It turns out there are a lot of facets to property management that can be streamlined using technology. There’s a lot of paperwork, phone calls and red tape involved in your investment property and all of it can be quite the headache with the traditional PMs out there. :Different was founded by two execs from the tech world, who were previously at Google and Uber. There they learned what technology can do to make our lives better and their bringing those learnings to the property management world, for the first time. What does that mean exactly? That means time saving apps, patented algorithms that make maintenance a cinch and quick and simple payment collection online. If you’re getting constant headaches from your property manager, let technology be your friend.
3. Lack of communication
Technology isn’t the only important part. If your phone calls or emails aren’t returned promptly, or if you learn through a third party that your rental is being advertised for a sublet, it’s time to find a new property manager.
You are the owner and should be treated as such. Communication is the key to a healthy owner/manager relationship and that’s why :Different makes it first priority with 24/7 access via your own custom Owner Portal. You can reach us any time, any day. It doesn’t get better than that.
4. They don’t guarantee your rent
This is your business right? How can a business continue without income. Well, we all know things happen and tenants can be late on rent sometimes. They lost their jobs, they have breakups. It’s your property manager’s job to cover you. At :Different, we go a step further than any other Property Manager ever. We’re now the ONLY property management service in Sydney that offers a Rent Guarantee. The :Different Rent Guarantee means you will never have late rent again, because we’ll cover it ourselves. Can your current property manager offer that? We didn’t think so. If your property manager isn’t helping you out like this, we should chat (scroll down to book a free chat with an agent).
5. Tenants have to track you down
You hired a property manager to invest the time that you don’t have (or want to) in managing your property. That’s the core of their job. If you’re getting contacted by tenants this is a huge red flag that your property manager isn’t doing his/her job at all. If you’re reading this and you’re regularly dealing with tenants then put down your phone or laptop and call us at 1 30000 4647.
6. Too many expensive repair bills
With any home, maintenance and repairs are bound to happen. That’s understandable, but as an owner of an investment property your goal is to turn a profit, so you need to be wary of an abundance of bills, especially from the same company. Could this be an indicator that your property manager is receiving kickbacks from a service provider? We think so! Make sure to request detailed documentation about all repair bills and if you really think it’s a problem than it’s absolutely time to switch. Switching to :Different couldn’t be easier.. Once you sign our agreement, we do the rest. We notify your tenant, the previous property manager and any other relevant parties. We’ll also work with your previous agent to smoothly transition your file and hand over the keys.
If your previous agency agreement requires a notice period, we’ll give that notice on your behalf. This is typically only a 30 day period. We start managing your property once that notice period has ended.
We charge you nothing until we officially start managing your property.
Well, there you have it. Did you say yes to any of the above? If so, then we should chat. Our team of helpful agents would love to walk you through how much time and money (on average we save property owners over $9000) by switching your property manager to something :Different.
Got any other tell-tale signs of a bad property manager? Share with us on Facebook or Twitter from the links below.