Let’s admit it, delegating can be a tough thing to navigate and master, and often it’s the one thing that defines a good leader, from a great one. So why is delegating such an intimidating process that most of us struggle to properly implement?Most will put it down to the relinquishing of control, after all, it does require you to transfers some of your workload to someone else, trusting that they’ll do it well, on time and all the while knowing that the accountabilit...  Read More...

We’re in an incredibly fast paced and ever changing world where consumer choices are rapidly expanding and customer expectations are constantly increasing. Surprisingly though, how many business owners still need to be convinced that improving customer service and customer experience is essential and can lead to increased customer retention, brand loyalty and more revenue.On the other side, just a single poor customer experience can easily break customer relationship and have a negative im...  Read More...

With the New Year only 3 days away, I wanted to share some key points that you should consider in your 2019 business’ checklist;1. Goal SettingReview the past year including goals set and achieved and start to map out where you want the business to go in 2019. Too often we set goals, grind away, and then look for how to improve again.   Read More...

When it comes to getting the most from your property management department, the humble Performance Review should sit right at the top of the To Do List for principals heading in to 2019. It may seem like an outdated process of the 90s to some, but in my opinion conducting regular performance reviews across the property management department is a sure-fire way to motivate and reward your staff, while driving bottom line. Why Do An Annual Performance Review? If you’re a princi...  Read More...

When it comes to running a sleek property management division or managing a portfolio with ease it all comes down to one key thing; efficiency. In other words, how quickly can we get our property management tasks completed, competently. Luckily for us, technology is here to help. There are a growing number of digital tools that can help a property manager improve workflow to drive efficiency; but as property managers, we have a tendency to want to complicate processes which can result in cl...  Read More...

New to Rent: Innovative service for Property ManagersBMT’s latest value-adding tool for property professionals, New to Rent, provides Property Managers with complimentary depreciation estimates tailored for each rental property their agency lists.The estimates highlight the difference depreciation can make to an investor’s cash flow and ultimately help industry professionals establish a point of difference in today’s competitive property management industry.For investor clients...  Read More...

Nothing will destroy a rent roll quicker than a slew of bad referrals and an army of online haters. In the face of such a demanding job as property management, how exactly do you safeguard your department from bad reviews and create a healthy tribe of promoters to grow your business through referrals?It’s a question I often get asked by perplexed principals and property managers who find themselves in damage control when they start losing properties due to poor management. Here are a few things ...  Read More...

Principals always want to know if they’re getting return on investment when it comes to rent roll size and the people it takes to successfully run it. Based on a case study with PMTA members, Kasey McDonald takes a look at the optimum ratio of people to properties.It is a question I get asked all the time, and not just by property managers either. In fact, if I had a dollar for every time someone asked me this million-dollar question, I’d no doubt be sipping mojitos on a tropical isl...  Read More...

Why is organisational design and structure important to the success of a Property Management business?Good organisational structure and design helps improve communication and increase productivity. It creates an environment where people can work effectively.Most productivity and performance issues can be attributed to poor organisational design. This often results in, among other things, confusion within roles, a lack of coordination among tasks and procedures, and failure to share ideas.   Read More...

Let's face it, Property Management can have its challenging days, believe me I know. With almost two decades’ experience at the coal-face I will admit that I didn’t always do things right. There have been a lot of learning curves along the way.   Read More...

A key to making any business run smoothly and with minimal interference is automation—building systems that operate efficiently and free you up to focus on growth strategies.Efficiencies can be gained in a variety of places throughout your business. When considering where to start, my recommendation would be to first review your business plan and analyze the components that may be having a major impact on your bottom line.Given the amount of tasks required to effectively run a property man...  Read More...

In an ideal world this question would most likely be answered with a resounding “yes”. You, as the Property Manager, would meet at the property with the vacating tenant along with your highly detailed entry report for comparison,  the two of you would stroll amicably through the residence admiring the refined cleaning skills of your tenant and agreeably tick off the completion of all aspects of the condition report. You would shake hands on a job well done, hand over the bond re...  Read More...

Let’s face it – everyone wants to grow their rent roll. Whether you’re an eager BDM wanting to impress the Principal, or an enthusiastic and driven property manager with your eye on the bigger picture – rent roll growth is the holy grail of any good property management division. After all, with growth comes more opportunity for success all-round. In my experience as the owner of a franchise real estate office and successful Property Management BDM, I see a lot of real estate compa...  Read More...

The Australian property management industry dishes up some of the finest training events in the country, but how do you know which ones to go to and how can you get the most out of them?I’ve found over the years that plenty of PMs and BDMs head to conferences, but fail to actually implement useful techniques once they get back into the office. The best way to make sure you get your money’s worth is to set yourself a goal before you get there. Ask yourself what it is you’re hopi...  Read More...