Property Management Essay

1135 words - 5 pages

Property Management

Can anyone here tell me what the role of a property manager is?

Madam Toastmaster, ladies & gentlemen.

My name is ____________ and I am currently employed as a property manager at a local real estate agency. I manage almost 300 rental properties and have a great team backing me up

Tonight I would like to share with you a very small part of what is involved in property management. While my responsibilities vary from property to property, I have to maintain a few basic skills such as good time management, good people skills and an eye for detail. When you are looking after almost 300 properties, these skills are essential.

I would like to talk to you ...view middle of the document...

I meticulously check all the information they have provided. One of the most important pieces of information is their in considering a new tenant is their rental history. If the last real estate agency had to constantly their rent payments, or was constantly finding them breaching their lease agreement, what would be different now? I also need to determine if they have been listed on the Tenancy Information Centre of Australia also known as TICA. TICA is the largest tenant database operating throughout Australia. By using the TICA system I am able to enquire if a tenant applicant has previously defaulted on their rent.
If everything checks out and I am happy with the application, I contact the owner, run through the application with them and let them make the final decision.

COMPLETING AN ENTRY CONDITION REPORT FOR THE PROPERTY

An entry condition report reflects the condition of the property when the tenant commences their lease. I must do a comprehensive report outlining the condition of the property including floor coverings, walls, ceilings, external areas and items, working order and model of inclusions. It is here that an eye for detail is crucial. The tenant taking on the property is needs to agree or disagree with my report. If the tenant disagrees, for example the oven doesn’t work, I need to be notified straight away so that repairs can be organised.

An entry condition report is a vital step to maintaining the premises in good condition. I must be extremely thorough with this report, as it is relied upon heavily at the end of the tenancy when it comes to refunding the bond or if there has been a problem, attending the small claims tribunal.

The tenant has a period of 3 days make any adjustments, sign and return the report. As I explain to the new tenants, this piece of paper is potentially worth the value of their bond. It is expected that once they have vacated the property, short of fair wear & tear, the entry condition report is the same as the exit condition report.

It is critical that when the tenant commences their lease they know, and fully understand, what they are signing, along with the responsibility that come with being a tenant.

MANAGING TENANTS AND THEIR NEEDS

Managing tenants effectively and understanding their needs...

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