A day in the life of a Property Manager
Have you ever wondered what your Property Manager does? What exactly your fees are paying for? A Property Manager never has 2 days the same in their entire career.
As a Property Manager your day always starts out the same, come into the office with your morning coffee hoping for a nice simple day, and most of the time it starts that way. You check your emails making sure there is nothing urgent that needs attending to and then you start the accounting for the day, this is the most important part of our day for any owner as this is where we receipt the rent and enter invoices.
Once all the rent has been entered, it’s time to chase the tenants who are late with their rent/invoice payments. Once you have made those phone calls, it’s time to return to your emails which have doubled within the last hour. So you start going through them replying, part way through your phone rings, a tenant has a burst water pipe so you have to arrange an emergency repair.
By the time that’s sorted it’s time for you to leave for the inspections you have booked that day whether its routine inspections, maintenance inspections, open home inspections, follow-up inspections or inspections with potential clients. By now it’s well after lunch and you’re finally returning to the office to finish those emails and return missed calls and text messages.
Finally, it’s time to organize rent reviews and lease renewals that are due in the coming months and contact the landlords to discuss what they would like to do. Before you know its 6pm and you still have to prepare all the necessary documents for your tribunal hearing at the end of the week.
A Property Manager’s day is often unpredictable as you never know who might hand in their notice to vacate, which property needs to have an urgent repair done or which tenant, landlord or creditor is having an issue.
This is why Property Managers charge the fees they do, their job is not simple or easy, it’s a delicate balancing act to keep everyone happy and ensure your assets are well looked after.
So when questioning the fees you’re being charged, or if you are looking for a new Property Manager and tossing up whether to use the agency that has lower fees, consider which of the above tasks your Property Manager will be leaving out when charging the reduced fee.