PM Collective - The ART of Property Management

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I had the opportunity to chat with Malia Sharpe & Sam Pyne from On Tap Plumbing. The discussion was around critical responsibilities of property managers regarding work health and safety. This discussion is particularly relevant when engaging contractors for maintenance and repairs. The episode highlighted the importance of ensuring that contractors have the necessary licenses, insurance, and safety protocols in place. 

Key Responsibilities of Property Managers

Property managers must ensure that contractors have the necessary licenses and insurance before engaging them for any work.

It is crucial to confirm that contractors have appropriate safety protocols in place to mitigate risks associated with their work.

These days, property managers are faced with a lot of challenges, one being pressure from landlords to find the cheapest provider. This can often lead to hiring less qualified contractors which poses significant risks

Property managers must strike a balance between cost-effectiveness and ensuring the safety of all parties involved. This involves pushing back against the pressure to choose cheaper options without proper vetting.

Here are some important things for property managers to consider when handling maintenance:

• When onboarding contractors, property managers must be clear about the tasks involved and the qualifications required for those tasks.
• Knowing and ensuring that contractors hold the appropriate licenses for the job, such as plumbing or electrical tasks.
• Be aware of any additional training requirements, such as working at heights, especially if the job involves accessing roofs or elevated areas.
• If property managers are unsure about the necessary licenses for specific jobs, it is crucial to educate themselves about the requirements. Reaching out to reputable companies like On Tap Plumbing for guidance can be beneficial.
• The use of technology, such as the Tapi system, can help property managers track compliance and insurance documentation. This system alerts property managers if any documents are expired before issuing work orders, ensuring that all contractors meet safety requirements.
• Having a dedicated person in the office responsible for onboarding and maintaining contractor records is essential. This individual should regularly follow up on renewals and ensure that all documentation is up to date.
• Informing Contractors About Potential Risks: Effective communication between property managers and contractors is crucial. Property managers must provide detailed information about any known hazards at properties, such as asbestos or structural issues, to ensure that contractors are adequately prepared.
• Addressing Tenant Behavior: Information about tenant behavior is also important for ensuring the safety of technicians. If a contractor is aware of potential hazards, such as a difficult tenant, they can take appropriate precautions, such as sending two technicians instead of one.
• Property managers should identify hazards related to the property itself, such as asbestos, structural concerns, and other potential dangers. Documenting any known risks can help inform contractors and ensure their safety.
• Property managers should also be aware of the overall condition of the property and any maintenance issues that could pose risks. Flagging these concerns in advance can help contractors prepare for potential challenges and mitigate risks effectively. This is one we need to particularly look out for, as many senior property managers remain on the "desk" while other dedicated assistants are the ones visiting the properties for home opens and inspections. 
• Property managers must understand the financial implications of non-compliance with safety standards. Fines for lapses in safety protocols can be significant, and individuals can be held accountable, not just companies.
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This podcast is sponsored by Property Assist.

Business owners are building their rental portfolios faster than ever and Property Managers can’t possibly do it all!

Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service

www.propertyassistwa.com.au

This podcast is kindly sponsored by Longreach

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Sherrie Storor, an exceptional business coach and former sales agent, joins us to unravel the often-overlooked business intricacies of the real estate world. Wondering how to ensure consistent income and asset growth?

Sherrie offers invaluable advice on how robust systems and the right team can transform your business into a profitable enterprise.

Her FREE upcoming webinar - Principal's Masterclass is the perfect opportunity to spend an hour learning and understanding your business and opportunities available.

Learn about our groundbreaking training initiative that combines growth coaching with legal expertise, designed to elevate business management skills. Sherrie also guides solopreneurs on the mindset shift required to update essential business documents, emphasizing the importance of proactive management for sustainable growth.

Balancing business growth with personal wellness might seem elusive, but it’s critical. We touch on the importance of this, to have a clear business head to make decisions.

Sherrie Storor | The Principal's Masterclass | Agency Structure, Growth + Scale

This podcast is sponsored by Property Assist.

Business owners are building their rental portfolios faster than ever and Property Managers can’t possibly do it all!

Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service

www.propertyassistwa.com.au

This podcast is kindly sponsored by Longreach

Send us Fan Mail

Ever wondered if personalized service could be the secret weapon in the real estate world? Join us as we sit down with Deb Gidman, a remarkable real estate agent who left a large agency to launch her own solo venture. Deb candidly shares her journey, from initially setting unrealistic goals to finding her true confidence by focusing on personalized client experiences rather than sheer numbers. She shines a light on the challenges and triumphs of managing a smaller portfolio, the art of maintaining professionalism, and the supportive network of small business owners that have become her backbone. Discover how Deb navigates the demands of her business during holidays, ensuring her clients never feel left out through meticulous planning and collaboration.

Deb talks about the importance of trust and strong relationships in property management. Learn how her established rapport with clients allows her to handle tasks efficiently, setting her apart from larger competitors. We explore the significance of educating clients about property management’s nuanced dynamics and the joy of offering personal touches, like mopping floors for new properties, to foster stronger connections. The episode wraps up with insightful strategies on email management, emphasizing the power of personalized communication over automation. Deb's inspiring journey is a testament to the power of experience and transparency in building a successful real estate career, reminding us to cherish personal growth and find joy in the ongoing process of development.

This podcast is kindly sponsored by Longreach

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Unlock the secrets to a thriving real estate business with Kristen Porter, the energetic founder of O*NO Legal. Kristen's unique journey of launching a virtual law firm amidst the global pandemic has equipped her with invaluable insights that she now shares with real estate agency owners. From establishing robust business foundations to planning for future growth, Kristen's expertise is complemented by her exciting collaboration with Sherry Storer for an upcoming masterclass. This episode promises to deliver essential legal insights and innovative growth strategies tailored for today's competitive landscape.

Prepare to rethink the future of your business as we discuss overlooked yet critical topics like business succession and estate planning. Discover why these documents require regular updates to align personal and business goals and how insurance can mitigate the loss of a partner. Kristen sheds light on the power of Enterprise Business Units (EBUs), a groundbreaking way to foster employee growth while ensuring the company's expansion. With practical advice on scaling a business, building effective teams, and embracing innovation

Sherrie Storor | The Principal's Masterclass | Agency Structure, Growth + Scale

This podcast is sponsored by Property Assist.

Business owners are building their rental portfolios faster than ever and Property Managers can’t possibly do it all!

Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service

www.propertyassistwa.com.au

This podcast is kindly sponsored by Longreach

Send us Fan Mail

Is it possible to be a large agency AND offer your clients a personal service? Join us for a conversation with Deb Gidman from Resident Property, who shares her previous career from managing 200 properties to a staggering 5,500. Deb is now a solo operator and her expertise in office management, acquisitions, and integration provides a unique perspective on the dynamics between larger and smaller property management agencies. 

Our discussion also uncovers the complexities of providing personal service within large real estate agencies. Through engaging stories, Deb emphasizes the importance of attention to detail and end-to-end management, illustrating the role of remote professionals in streamlining tasks. Communication with landlords emerges as a critical aspect, especially during vacancies or management transitions. In a world where operational efficiency often conflicts with personal service, Deb shares how "good news calls" and tailored communication methods can enhance client relationships while maintaining a balance.

As businesses grow, so do the challenges of team dynamics and client experience. Deb and I explore strategies for managing these challenges, highlighting the importance of consistent processes and the personal touch. 

We talk about the benefits and challenges of both small and large teams, where a single main client contact and a mindset of working as if for oneself can significantly enhance service. 

This podcast is sponsored by Property Assist.

Business owners are building their rental portfolios faster than ever and Property Managers can’t possibly do it all!

Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service

www.propertyassistwa.com.au

This podcast is kindly sponsored by Longreach

Send us Fan Mail

Unlock the untapped potential of LinkedIn and transform your real estate business strategy with insights from our latest episode. We promise you'll discover how LinkedIn can become your not-so-secret weapon for generating leads and fostering meaningful professional relationships. Forget the myth of LinkedIn being "boring"; with 950 million users and a lead generation rate that's 277% more effective than Facebook, it's time to tune into why this platform is the powerhouse you never knew you needed. We'll guide you through strategies shared at the recent IGT conference, demonstrating how personal stories and industry insights can lead to higher engagement and respectful discussions with landlords and clients.

Join us as we delve into the art of leveraging LinkedIn to enhance your professional network and boost business growth. Learn how to maintain warm leads and generate cold ones by targeting local connections, all while participating in professional conversations that elevate your presence in the industry. Whether you're eager to strengthen client relationships or seeking new business development avenues, this episode offers a roadmap to making LinkedIn an indispensable tool in your professional arsenal. Ready to revolutionize your LinkedIn game? Listen now and take your first step toward business success.

This podcast is kindly sponsored by Longreach

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Question from the public: If you haven't already, could you do a short podcast on your non negotiable expenses for running a quality property management business.

Great question! 

Importance of non-negotiable expenses in property management

Recommended trust account software: Property Me
Lead generation tool: IRE BDM and its automation features
Streamlining inspections with Inspection Express
Benefits of hiring a Virtual Assistant (VA) for operational support
Managing workload as the business grows
Leveraging free marketing platforms for lead generation
Enhancing compliance and financial accuracy in property management
Importance of investing in essential tools for business scalability

This podcast is kindly sponsored by Longreach

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Discover what it truly means to succeed in the world of real estate as we chat with the vibrant and insightful Andy Reid. From his roots in hospitality management in the UK to becoming a standout figure in real estate, Andy's journey is nothing short of inspiring. Join us as Andy shares his passion for auctioneering, his deep connection with property management influenced by his family business, and his unexpected but impactful role as a mental health advocate during the COVID-19 lockdowns.

We'll explore the true definition of success within property management and BDM spaces, tackling the often-overlooked value of roles like leasing consultants. Andy opens up about the importance of balancing hard work with the integration of technology, underscoring that human effort and connection are irreplaceable. Hear his thoughts on leadership accountability, team engagement, and how innovative work schedules like the four-day workweek can boost productivity and employee well-being.

Lastly, Andy gives us a sneak peek into his upcoming book, "Success Curious," and his podcast, "High Performance Humans," which features incredible stories of resilience from diverse individuals. Learn about the art of influence in leadership and how achieving high performance can transform both personal and professional lives. This episode is a treasure trove of insights and practical advice for anyone aiming to redefine success in the real estate industry.

Listen to Andy Reid’s Podcast – High Performance Humans Podcast - Andy Reid

Pre-order his new book  “Success Curious” Success Curious by Andy Reid | How to define and achieve high performance | 9781923186132 | Booktopia

This podcast is sponsored by Property Assist.

Business owners are building their rental portfolios faster than ever and Property Managers can’t possibly do it all!

Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service

www.propertyassistwa.com.au

This podcast is kindly sponsored by Longreach

Send us Fan Mail

What if you could achieve zero rent arrears in your property portfolio? Our latest episode is packed with expert insights on this ambitious goal. We’re joined by Giselle from M-Motion in Queensland, Sam from Rent Choice in WA, and Skye from Taylored Property Management in Adelaide. These seasoned professionals discuss the effectiveness of tenant education at different stages and stress the crucial role of early communication and prompt intervention. Giselle sheds light on the importance of consistent follow-ups to maintain a clean tenant ledger, while Sam emphasizes how combining automation with personal touches can streamline arrears management.

We uncover practical strategies that can transform your rent collection process. Learn how direct debit systems and automated platforms like PropertyTree and PropertyMe can simplify your workload. Skye shares her hands-on experiences from South Australia, highlighting the challenges of legislative variations and the necessity of timely phone calls to resolve payment issues. Our conversation dives into the nitty-gritty of handling dishonored payments and issuing breach notices, offering you a robust framework to adapt to your local regulations.

Enhancing tenant education is key to long-term success in property management. We explore how detailed checklists during sign-up appointments and personalized communication can make all the difference. Beyond automation, personal follow-ups remain indispensable in maintaining clear and effective communication with tenants. By the end of this episode, you’ll have actionable tips to celebrate milestones and strive towards zero rent arrears in your property management practice. 

This podcast is sponsored by Property Assist.

Business owners are building their rental portfolios faster than ever and Property Managers can’t possibly do it all!

Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service

www.propertyassistwa.com.au

This podcast is kindly sponsored by Longreach

Send us Fan Mail

This conversation is a Q & A with the lovely Skye Taylor who has just resigned from her stable full time job to jump in to her property management business full time. She has had the safety net of her current job but had a list of questions to ask me so she can make sure she stays on the right track and gets the support she needs. If you are wondering how to build a powerful personal brand on platforms like LinkedIn, Instagram, and YouTube.... we discuss how these will set your real estate agency on a path to success. I share the key to staying ahead by embracing new technologies and trends, and why hiring a Virtual Assistant (VA) for consistent social media engagement is a game-changer.

Curious about how to avoid burnout while scaling your business? This episode is packed with wisdom on the importance of enjoying your entrepreneurial journey and the benefits of hiring help early on. Learn how even a modest investment in a VA can offload mundane tasks and keep your energy focused on what you love. Ash offers personal anecdotes and practical advice on aligning your strengths with your team members to ensure a sustainable and enjoyable business journey.

Ready to streamline your operations and boost productivity? Dive into essential business growth strategies, from financial management to selecting the right CRM system for lead generation. Ash discusses the pitfalls of trying to save money by doing everything yourself and the value of hiring experts early. Whether it's managing property keys efficiently or maintaining a positive mindset, this episode covers it all. 

And to hold Skye accountable to double her business in 3 months, we have a Part 2 coming up!

This podcast is sponsored by Property Assist.

Business owners are building their rental portfolios faster than ever and Property Managers can’t possibly do it all!

Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service

www.propertyassistwa.com.au

This podcast is kindly sponsored by Longreach