Everyone loves to talk about real estate whether renting, leasing, buying or selling and along with these discussions come some amazing stories and some embellishments.
Below are some common myths about Leasing Property. We would like to clarify.
“Property Management is really just about collecting rent.”
WRONG
Property Managers are many different things, doing many tasks for many different people every day. The Newcastle Property Management Team is in control of your investment property on a daily basis overseeing rent, yes…..but also ensuring your property is well maintained by the tenant, arrange repairs and routine inspections, ensuring your tenancy complies with the Act, limiting risks plus so much more…
“Every Property Manager does the same thing. So naturally we just picked the cheapest one.”
OMG!!!
Truly great Property Managers may not be cheap, but they certainly aren’t expensive. Companies only discount services they can’t sell, so by picking the cheapest Property Manager in town it can end up costing you big time, and you may never know until it’s far too late.
“Property Managers work in real estate….they all get paid heaps, right?”
WE WISH
Property Management sometimes brings with it some financially unrewarding tasks for Property Managers but the overwhelming majority do these tasks without complaint or expecting anything in return. Property Management is an amazing career and sometimes just a “thank you” goes a long way for the sheer hard work these amazing people do. We think so anyway.
“My Property Manager is just out to get me!”
DON’T BE SILLY
Since the modern years of Real Estate Services, Property Managers have been guided by Legislation & Best Practice to equally minimise risk for Landlords, Tenants & their Agency. Every day they balance these obligations as best they can and sometimes it might seem unfair. But at the end of the day, the overwhelming majority of Property Managers are genuinely trying to help everyone!!
“Property Managers only manage property, right?”
WRONG
Property Managers are like the ringmaster at a circus.
They are responsible for maintaining the smooth flow of an entire show (your investment) to give the audience (client) the show (service) they expect. All the while trying to limit too much exposure to clowns (risk). They are many different things to many different people, and that’s just in the morning!
Organised and systemised in property management are the same thing.
INCORRECT
Being organised in Property Management is great. It helps the rest of the department run smoothly. Being systemised is even better, because it means the department runs smoothly no matter who’s in the office or if no-one is there at all! It’s no secret that Property Management businesses who run on systems are far more sustainable than those who rely solely on the energy of the people within.
“There is not as much work involved in lease renewals as there is with new tenancies. So we shouldn’t have to pay a fee.”
LOL
Under NSW Legislation there is no legal requirement for a tenant to enter into a new lease, and they cannot be forced into it. It takes a skilled negotiator to convince most tenants the benefits e.g. What’s in it for them when entering a new lease. We then arrange for this new lease, serve required notice for any rent increase and then arrange an appointment to have all parties execute the new agreement.
Request further information from us regarding our services now and should you decide to appoint Newcastle Property Management, we will give you 25% discount for the first 12 months off our management fee, when you choose our Comprehensive Management Package.
(Available to New Clients Only)