I had a very interesting (and sadly, all too recurrent) conversation with an onsite manager recently, who shall remain unnamed. It went like this:<\/p>\n\n\n\n
Hey there, your marketing is due to be renewed this week, would you like me to renew it for you so you don\u2019t lose any listings?<\/em><\/p>\n\n\n\n I\u2019ll be honest with you, I don\u2019t need to advertise my rentals.<\/em><\/p>\n\n\n\n You\u2026 you don\u2019t need to advertise rentals? Aren\u2019t you a rental manager? Gosh that\u2019s impressive, just think how much more rent you\u2019d be able to achieve for your owners if you actually marketed their investments correctly?<\/em><\/p>\n\n\n\n No mate, I\u2019m not in the business of screwing tenants over!<\/em><\/p>\n\n\n\n What this manager has failed to realise, is that tenants aren\u2019t his concern. He is contracted by the investor, and fiduciarily obligated by law, I might add, to deliver the best possible value for money for them. Saving the tenant a few bucks might seem, to him, to be a noble venture, but in effect, by deliberately not achieving the highest returns for his investors, he\u2019s not only (arguably) breaking the law, he\u2019s also screwing over the very people who have employed him. He\u2019s not doing owners any service at all. Particularly as interest rates climb. It\u2019s simply a matter of time before investors realise they are paying for an inferior service and sell up, or switch managers.<\/p>\n\n\n\n The trouble with conversations like the one I recounted above, is that they happen to me with alarming frequency, particularly in the current market when rental demand is strong. I can recall the last time I had these conversations with managers was about 15 years ago. Back in those Halcyon days managers would say, constantly, they didn\u2019t need to advertise because they had a sign out the front. Then along came the GFC and a glut of rental properties flooding onto the market, and *surprise* those same managers would call me up begging to advertise and in a total panic because some \u201cdirty nasty mean horrible outside letting agent\u201d has come along, out performed them considerably, and wiped out their letting pool from under them. The thing about doing a lousy job is, it isn\u2019t a graduated affect. You can get away with screwing your investors over for a while, and it might all seem like smooth sailing\u2026 but as soon as a motivated outside agent realises this manager isn\u2019t performing, they will grab a call sheet from the manager\u2019s complex of all his investors, and clean him out with expert efficiency.\u2026and the manager will blame the outside agent when in reality, it was his own lack of concern for the needs of his investors, that led to this happening.<\/p>\n\n\n\n In firm rental markets such as now, more than ever, managers should be delivering, and shown to be delivering the best possible returns for owners, because if they don\u2019t, someone else will!<\/p>\n","protected":false},"excerpt":{"rendered":" I had a very interesting (and sadly, all too recurrent) conversation with an onsite manager recently, who shall remain unnamed. It went like this: Hey there, your marketing is due to be renewed this week, would you like me to renew it for you so you don\u2019t lose any listings? I\u2019ll be honest with you, I don\u2019t need to advertise my rentals. You\u2026 you don\u2019t need to advertise rentals? Aren\u2019t you a rental manager? Yes I am, but No, because there\u2019s that many tenants out there, I just have to stick a sign out the front and I fill it within 4 hours. Gosh that\u2019sRead More →<\/a><\/p>\n","protected":false},"author":1094,"featured_media":3741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mbp_gutenberg_autopost":false},"categories":[6,29,4],"tags":[],"_links":{"self":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/3740"}],"collection":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/users\/1094"}],"replies":[{"embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/comments?post=3740"}],"version-history":[{"count":1,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/3740\/revisions"}],"predecessor-version":[{"id":3742,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/3740\/revisions\/3742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/media\/3741"}],"wp:attachment":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/media?parent=3740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/categories?post=3740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/tags?post=3740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Yes I am, but No, because there\u2019s that many tenants out there, I just have to stick a sign out the front and I fill it within 4 hours.<\/em><\/p>\n\n\n\n