Letts Group: Top Up Tips with Mike O’Farrell

Contributed By: Jane Garcia on

Today we are talking about an essential aspect of managing your management rights business: Top-ups. Today we are going to hear from Mike O’Farrell from MLR Services who is going to share his top tips on how to streamline the Top-Up process and maximise your success.

Meet Mike O’ Farrell

Mike O’Farrell

0418 193 708

After joining the management and letting rights industry in 1991, Mike has been actively involved in body corporate’s for many years. He understands the complexities of shared occupancy and has seen disputes between residents, contractors and bodies corporate escalate into financially disastrous situations.

Mike established MLR Services to help residents, committees, building managers and body corporates find dispute resolutions that are based on reason through his mediation services. His in-depth knowledge of Australian Building Management Accreditation (ABMA) code means he is able to interpret contracts and clarify responsibility based on a ‘best for building’ (B4B) practise.

Mike’s Top Tips for preparing for your TOP UP

  • It is essential to effectively communicate your intentions to the chair in a timely manner, ideally by scheduling a coffee meeting to discuss your plans and objectives.
  • Prior to any official agreement, be sure to inquire with the chair about any specific areas within the agreement that the committee may want to discuss further, such as duties and responsibilities.
  • Building and maintaining strong relationships with all owners is crucial as every vote holds equal weight, emphasising the importance of nurturing positive connections and seeking support from all members of the community.

Although Mike has probably forgotten more than I know about Management Rights, I thought I would also share some tips I have learned along the way while working with Mike on Top Up negotiations and strategies.

Kelley’s Top Tips for preparing for your TOP UP

  • Marketing is a crucial part of the strategy when seeking votes. It doesn’t necessarily have to be sales-focused; instead, it should address the community’s needs and demonstrate how you can provide the solution. Show them that you as the manager solve all their pain points.
  • One thing that cannot be emphasised enough is building relationships. You can’t expect someone to vote for you just because you ask them to, especially if you’ve never interacted with them before. Trust and loyalty need to be established over time for a successful connection.
  • While emails and text messages have their place, phone calls are the key to success. Tone is not conveyed effectively through written communication, so calling allows you to express your passion and show what this business means to you. When people hear your sincere dedication, they are more likely to support you.

We hope you found some of our ideas and tips helpful. If you need further assistance, please don’t hesitate to reach out to Mike or myself.

Next up in our Educational EDMs, we will be hearing from Mike Phipps from Mike Phipps Finance. I assure you that this is not one to be missed.

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