Well, the good slash bad news is, you’re not alone. Shockingly when surveyed, 4-10 of Geelong Real Estate Co landlords confirmed that prior to coming on board with us had experienced 3 or more different property managers in one year.
There’s a lot of reasons property managers come and go here’s 3 reasons why
- Staff shortages. With it so hard to find staff, desperate agencies will take anyone they can get to fill those seats. And with the bar of entry being so low to get started in a real estate career there’s a lot landlords finding out the hard way that not all property managers are created equal.
- Over worked. It’s not uncommon for one property manager to be looking after 150, even up to 200+ properties. It goes without saying but that’s miles too many to offer any decent level of service let alone 5 star.
- No training. Thrown in the deep end, managing a huge portfolio things can quickly get out of hand. Leading to stressed out landlords, tenants and ultimately your property manager throwing in the towel.
Aside from inconvenient, the consequences can be worse than you’d think.
Here’s the top 3 issues that we see arise.
- Poor continuity of service usually allows those he said/ she said’s to run riot. Leading to broken promises and mistrust.
- Mismanaged properties, lead to more maintenance issues, more repairs, meaning less income for the landlord.
- Poor tenant experiences often lead to disgruntled renters, less likely to go above and beyond, penalising the landlord.
If you’re looking for a fresh start, we’d love to hear from you. With over 15 year’s experience and a philosophy of relationships over profits, your investment property is in safe hands with Geelong Real Estate Co