Managing your Property Management business

Managing your Property Management business

A decade ago Property Management was perceived as the very poor cousin to Sales within a real estate agency however in 2010 the enormous increases in returns, cashflow and value demand we as Principals are far more professional in our approach to this part of our business.

A rental department provides enormous long term benefit to your business.

  • Business energy and momentum
  • Branding
  • Equity
  • Sales leads
  • Cashflow

To achieve maximum benefit you as the principal must set the standards, monitor performance and create accountability within your Property Management business.

You can do this by:-

  • Identifying the role of each team member
  • Have a weekly team meeting
  • Ensure the meeting runs to a planned agenda
  • Create a reporting structure for the Property Management staff
  • Ensure responsibility for completion of tasks
  • Set targets and create the motivation to complete them

Run your Property Management department just as you would your Sales department. Follow a system, expect results and have a growth plan. Also look to operate a separate profit and loss with your Property Management from your sales to clearly identify each departments overall profitability.

Real Estate Agency Sales in conjunction with its business partners Kevin Hockey Business Solutions provides a Property Management consulting service which includes

  • Rent roll growth
  • Systems and Structure within your business
  • Time management strategies
  • Recruitment strategies

Contact us today on 3266 4242 to discuss any assistance you may require for your business and Property Management.

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