The recent trend of online property managers is a relatively new approach, and as such we recommend landlords take caution before engaging an agency that is online. This is why…
What is online Property Management”?
As a professional and licenced agency, we care about our owners and tenants. A new trend has started to raise some eyebrows through the industry is that of online property management services that provide a fixed fee approach. This means that as an owner or a tenant, you may never meet your property manager. By the same approach, your Property Manager may never see the inside or outside of your home.
How can they review or consider approach maintenance for themselves?
In most cases, as a result of the cheaper flat fee, all paperwork and maintenance requests are handled via email and or an app. There are several concerns with this process:
- You don’t actually know who is managing your property.
- Where your property manager is located can be problematic. (Do you know if your property manager is overseas or in a completely different city – Sydney, I am looking at you!)
- Is your property manager a licensed real estate agent?
- How much local, on the ground experience does your property manager have?
- Are they keeping up to date with current legislation?
- How do they know if the tenant is right for your property if they haven’t met them in person?
- How does the property manager know how much to charge in rent if they haven’t seen your property themselves?
This recent trend of online property managers is a relatively new approach, and as such we recommend landlords take some caution before engaging an agency that is online. A real on the ground agency like Collins Gregory Real Estate can provide a superior service, delivered by real people on the ground, rather than an algorithm or tech company.
We are not tech-phobic (we love technology) and we certainly utilise it where it makes sense, but not to replace the value that can be extracted from face-to-face interaction. We believe that it is critical to your investor return for us to meet your tenants in person and to inspect with our our eyes your property for routine and preventative maintenance considerations.
Eventually after a period of time (and pain!) and landlord will come to us where they will find that the small amount extra in fees is worth it to get what they were really after in the first place – peace of mind.