Over the past 2 days, I have enjoyed the beautiful sun and atmosphere of Noosa whilst attending a conference.
I believe professional development and education is crucial to not only enhance and develop my own personal skills, but obtain additional information and ideas which provide improvement and strategies to my business.
In 2009, why was there no topic or speaker presenting on social networking? Why are real estate agents so afraid of change? How are we ever going to develop the new talent entering this industry when the training content is the same all the time, out of touch and out dated?
Thursday, September 10, 2009
Tuesday, September 1, 2009
Competing with the single minded
Why are so many companies frightened of moving forward on the internet? Companies and business owners are barely scratching the surface when it comes to the internet let alone the social networking aspect of it.
We all want the next best new thing, but of course we must ensure we do it in a measured, rational way. Or do we?
A measured, rational way is great, but what if your competition doesn’t agree?
Seth Godin is quoted saying “When you have someone who is willing to accomplish A without worrying about B and C, they will almost always defeat you in accomplishing A. Online, of course, this often leads to doom, since there are many organizations that are willing to get big at the expense of revenue. But in the short run, the single minded have a fantastic advantage. And sometimes, their single minded focus on accomplishing just that one thing (whatever it is) pushes them through the Dip far ahead of you”.
Print media including newspapers, magazines, TV stations, real estate agents, travel agents, bookstores, insurance agents and five hundred plus other industries need to think hard about this before it's too late.
Can you afford to not to think outside the square from time to time…..
We all want the next best new thing, but of course we must ensure we do it in a measured, rational way. Or do we?
A measured, rational way is great, but what if your competition doesn’t agree?
Seth Godin is quoted saying “When you have someone who is willing to accomplish A without worrying about B and C, they will almost always defeat you in accomplishing A. Online, of course, this often leads to doom, since there are many organizations that are willing to get big at the expense of revenue. But in the short run, the single minded have a fantastic advantage. And sometimes, their single minded focus on accomplishing just that one thing (whatever it is) pushes them through the Dip far ahead of you”.
Print media including newspapers, magazines, TV stations, real estate agents, travel agents, bookstores, insurance agents and five hundred plus other industries need to think hard about this before it's too late.
Can you afford to not to think outside the square from time to time…..
Friday, June 19, 2009
The why, what, who and how of winning business!
Whenever we evaluate something we tend to go through 4 common stages; at Metro our team is constantly being trained on these stages to ensure we deliver to our client’s memorable experiences.
The first stage is WHY. It is important for us to understand why the client has come to the decision to rent the property. At Metro most of our clients are investors who are constantly adding to their portfolio. Because we manage properties here, there and everywhere we are able to manage all of our client’s properties providing a one stop service that they love.
The second stage is WHAT options are best for the client. Many agents will encourage you to sell your investments however because property management is our core business we teach our clients never to sell. We are able to provide detailed and researched data on rental prices and returns, types of tenants your property will attract and how long it may be vacant for.
The third stage is WHO. It is important that you research agents and ensure that they are able to provide you with the level of service you require. It is important you get constant feedback, guarantees on service delivery, researched rental prices and a team that is well trained and property management is their core business.
The fourth stage is HOW, we will work with you to ensure we provide you with the best marketing, feedback from open for inspections, presenting at least 3 applications for your approval and then managing the relationship with the tenant so your rent is paid on time and we ensure that we conduct regular inspections, rent reviews and lease renewals.
If you have any queries please do not hesitate to contact us at Metro Property Management.
The first stage is WHY. It is important for us to understand why the client has come to the decision to rent the property. At Metro most of our clients are investors who are constantly adding to their portfolio. Because we manage properties here, there and everywhere we are able to manage all of our client’s properties providing a one stop service that they love.
The second stage is WHAT options are best for the client. Many agents will encourage you to sell your investments however because property management is our core business we teach our clients never to sell. We are able to provide detailed and researched data on rental prices and returns, types of tenants your property will attract and how long it may be vacant for.
The third stage is WHO. It is important that you research agents and ensure that they are able to provide you with the level of service you require. It is important you get constant feedback, guarantees on service delivery, researched rental prices and a team that is well trained and property management is their core business.
The fourth stage is HOW, we will work with you to ensure we provide you with the best marketing, feedback from open for inspections, presenting at least 3 applications for your approval and then managing the relationship with the tenant so your rent is paid on time and we ensure that we conduct regular inspections, rent reviews and lease renewals.
If you have any queries please do not hesitate to contact us at Metro Property Management.
Friday, June 5, 2009
Basic Owner and Tenant Obligations when renting a property
When you are renting a property small problems can sometimes turn into big ones if they are not handled correctly or immediately.
To help you avoid this here are tips on some basic owner and tenant obligations:
As a tenant you are obliged to:
Keep the property clean
Ensure there is no deliberate damage caused to the property
Inform the agent immediately if damage does occur
Ask permission of the owner via the agent to install fixtures, make alterations or renovations
Avoid causing a nuisance to the neighbours and not to participate in any illegal activities on the property
As an owner you are obliged to:
Ensure the premises is in good repair
Ensure that all windows and doors are secure and have locks
Provide the tenant with a key if locks are changed
Avoid disturbing the tenant unnecessarily
Visit our website at www.metropm.com.au
To help you avoid this here are tips on some basic owner and tenant obligations:
As a tenant you are obliged to:
Keep the property clean
Ensure there is no deliberate damage caused to the property
Inform the agent immediately if damage does occur
Ask permission of the owner via the agent to install fixtures, make alterations or renovations
Avoid causing a nuisance to the neighbours and not to participate in any illegal activities on the property
As an owner you are obliged to:
Ensure the premises is in good repair
Ensure that all windows and doors are secure and have locks
Provide the tenant with a key if locks are changed
Avoid disturbing the tenant unnecessarily
Visit our website at www.metropm.com.au
Friday, May 29, 2009
Tips on renting a property
Finding a place to rent can be quite stressful, here are a few tips you may want to consider:
Be very clear in your own minds the type of property you want to rent
Research the areas that you want to live in, look at surrounding suburbs as well
Have a realistic budget in mind in regards to how much rent you can pay
Make sure that you do a personal budget to ensure affordability
Apply for a property within 24 hours as the market is still competitive
Provide as much information for the agent and owners
Don’t leave it to the last minute to look for properties
If you are moving from another rental property make sure you provide the right amount of notice
Feel free to apply for more than one property with Metro. We do manage properties here there everywhere. If you are unsuccessful with one property there is a good chance there are others available.
Visit our website at www.metropm.com.au
Be very clear in your own minds the type of property you want to rent
Research the areas that you want to live in, look at surrounding suburbs as well
Have a realistic budget in mind in regards to how much rent you can pay
Make sure that you do a personal budget to ensure affordability
Apply for a property within 24 hours as the market is still competitive
Provide as much information for the agent and owners
Don’t leave it to the last minute to look for properties
If you are moving from another rental property make sure you provide the right amount of notice
Feel free to apply for more than one property with Metro. We do manage properties here there everywhere. If you are unsuccessful with one property there is a good chance there are others available.
Visit our website at www.metropm.com.au
Thursday, May 21, 2009
Metro Property Management Investment Tips
Now is the time to buy investment properties, interest rates are still at their lowest ever and many properties are can be cash flow positive. This has been the message for many months now and certainly the current market conditions are bringing first time investors into the property arena.
Here are Metro Property Management Tips to consider:
Always ensure that you take sound advice prior to making the
investment decision
Know your numbers – what is the impact going to be if you purchase an investment property - on your income
Attend seminars/workshops before making any decision
Ensure that you work with financial advisors and/or accountants to a develop wealth building strategy
Purchase median properties that are in high growth areas, they must be easy to rent
The area must have good infrastructure like schools, parks, shopping centres
Understand how you can leverage off existing investments to add to your wealth creation
The goal is to hold onto your investments long term, however be prepared that they may be times you may have to sell
Get an understanding on the level of debt you are in or prepared to go into and what a safe or comfortable level is across your portfolio
Research but don’t delay, now is the time to take action
Here are Metro Property Management Tips to consider:
Always ensure that you take sound advice prior to making the
investment decision
Know your numbers – what is the impact going to be if you purchase an investment property - on your income
Attend seminars/workshops before making any decision
Ensure that you work with financial advisors and/or accountants to a develop wealth building strategy
Purchase median properties that are in high growth areas, they must be easy to rent
The area must have good infrastructure like schools, parks, shopping centres
Understand how you can leverage off existing investments to add to your wealth creation
The goal is to hold onto your investments long term, however be prepared that they may be times you may have to sell
Get an understanding on the level of debt you are in or prepared to go into and what a safe or comfortable level is across your portfolio
Research but don’t delay, now is the time to take action
Thursday, May 14, 2009
Reducing Vacancies
As an investor in the property market vacant properties is a critical key issue.
A vacant property equates to no income which in turn has an impact on your cash flow and loan repayments.
If you property is being managed by an agent then here are some tips on ensuring minimum vacancy periods.
Marketing
Telling prospects that your property is available is the first critical step, today most potential tenants will search on websites such as realestate.com, realestateview.com.au and domain.com.au. As a property owner you should log onto these sites and ensure that your property is being marketed well.
The agent should have taken maximum number of quality pictures showing the property to its best advantage, a catchy headline that will grab the attention of prospective tenants, the body of the ad should sell the lifestyle the tenants could potentially have plus the local amenities available to them.
Time Frame
Your agent should aim to have your property on the market 4-6 weeks prior to it becoming vacant. They should provide you with feedback after open for inspections on things like number of groups that viewed the property, feedback received, applications made and general comments on the price of the property.
Within the first week your property manager should be able to confirm if the property has been priced correctly.
Improvements
Inspect the property and ask yourself would you apply to live there, if the answer is no or a maybe then you may need to do improvements which could be quite simple and inexpensive. A fresh coat of paint or adding a dishwasher can work wonders plus retain the market value of your property.
Ask your property manager for any suggestions on improvements, they would have got feedback from previous tenants and prospective clients attending open for inspections
Processing applications
It is important that your agent has a time frame in place to process applications and forward them to you for selection; best practise is at least within 24-48 hours of receipt of an application.
Your agent is your representative and is charged with ensuring that your property is well maintained and it continues to perform and obtain the best return on investment. It is important that you select not on what they charge in commissions but the service they provide. Remember you often get what you pay for.
Metro Property Management are the leading property management company in Melbourne, we manage properties here there and everywhere and our clients love to do business with us as we can deliver consistency and high levels of service.
A vacant property equates to no income which in turn has an impact on your cash flow and loan repayments.
If you property is being managed by an agent then here are some tips on ensuring minimum vacancy periods.
Marketing
Telling prospects that your property is available is the first critical step, today most potential tenants will search on websites such as realestate.com, realestateview.com.au and domain.com.au. As a property owner you should log onto these sites and ensure that your property is being marketed well.
The agent should have taken maximum number of quality pictures showing the property to its best advantage, a catchy headline that will grab the attention of prospective tenants, the body of the ad should sell the lifestyle the tenants could potentially have plus the local amenities available to them.
Time Frame
Your agent should aim to have your property on the market 4-6 weeks prior to it becoming vacant. They should provide you with feedback after open for inspections on things like number of groups that viewed the property, feedback received, applications made and general comments on the price of the property.
Within the first week your property manager should be able to confirm if the property has been priced correctly.
Improvements
Inspect the property and ask yourself would you apply to live there, if the answer is no or a maybe then you may need to do improvements which could be quite simple and inexpensive. A fresh coat of paint or adding a dishwasher can work wonders plus retain the market value of your property.
Ask your property manager for any suggestions on improvements, they would have got feedback from previous tenants and prospective clients attending open for inspections
Processing applications
It is important that your agent has a time frame in place to process applications and forward them to you for selection; best practise is at least within 24-48 hours of receipt of an application.
Your agent is your representative and is charged with ensuring that your property is well maintained and it continues to perform and obtain the best return on investment. It is important that you select not on what they charge in commissions but the service they provide. Remember you often get what you pay for.
Metro Property Management are the leading property management company in Melbourne, we manage properties here there and everywhere and our clients love to do business with us as we can deliver consistency and high levels of service.
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