Yellow – Red – Blue – Green, or a little mix of each?
Yellow – The Micromanager, a serial drive by-er. Yellow’s like to keep a close eye on their assets. Often at their peak when the rental property is a previous family home. The first to notice if the grass is a whisker too long, an avid reader of the end of month statement. Yellow’s make great landlords for property managers who have their act together. Like a well-oiled machine, if things go wrong they are the fastest to respond to a maintenance request to get things back on track.
Red – Commercially minded, for lack of a better phrase, money driven. Red’s focus the majority of their attention on the numbers and sticking to the budgets, they have an almost military rigidity to protecting the bottom line and minimising expenses. Red’s can make amazing landlords because they have a no nonsense approach to doing business, and you know exactly where they stand, as long as they don’t skimp on the maintenance.
Blue – The set and forget type, Blue’s often feel guilty about putting up rent or asking too much of their renters. They usually follow the rental laws to a tee and expect their tenants to do the same. Based on relationships rather than profits, Blue’s are more inclined to give someone with no rental history a chance, however they can often be seen to be taken advantage or manipulated by the wrong property manager / tenant. They make great landlords as they are compassionate and reasonable when it’s time to do business.
Green – Landlords of convenience. They may have inherited the property or bought something that they plan to occupy that has renters in it or they may even have plans to demolish in the distant future. Often Green’s leave absolutely everything up to the property manager. They don’t like to get too involved or simply sometimes just doesn’t have the time. Green’s make great landlords as they are often trusting and cruisy, as they like to leave the professionals to do their job.
If you’re looking for Geelong’s best property management experience call us today. And as always, if you’re looking to buy, sell, lease or refer we’d love to hear from you.