The most common time you are likely to lose a management is when it is vacant and you are looking to secure a tenant. It is vital that you are proactive during this period and simply placing an ad online and waiting in hope that the property is leased can lead to the loss of the management.
Given that generally Landlords become itchy after 2-3 weeks and other agents may have been in contact with your owner by now, properties that have been on the market longer than 4 weeks are in jeopardy of being lost to a competitor.
After 4 weeks a landlord becomes anxious about their property being vacant and the managing agent is in serious danger of losing the management.
- Other agents will have contacted the landlord from your advertising
- The Landlord will begin talking to other agents about their management
- The Landlord will be concerned about loss of income
- The loyalty and credibility you have built up will begin to diminish