Business feature: A guide to Property Management

New landlords often try to maximise their profits by managing their own properties or going with a cheap option, but this approach can cost you money. 

Vacancies are often a big factor in why landlords and investors choose to engage a property management firm in the first instance.

Everyday that a property sits empty is costing the landlord money.

McGrath Property Management in Newcastle have undertaken significant investment in structuring their team and service standards in order to minimise the time that a client property sits vacant. 

The team are split into specific areas of property management, ensuring that this multi-facted process is as streamlined as possible.

We spoke to New Client Consultant, Kyle Pattison and Senior Property Manager for McGrath Jessica Patteron to find out more.

"We are unique in that we provide a service standards guarantee that ensures we deliver exceptional service to clients and maintain consistent and open communication throughout the entire process.

“What that means is we return calls within the same day, emails within 24 hours and turn around applications within 24 to 48 hours.

“Vacancy rates are sitting at approximately 6% in the Newcastle region, with ours at 4.68% which is direct result of the proactive nature of our guarantee and its impact for the client," explained Kyle.

The power of a long established brand is also a draw card for McGrath clients, says Jessica.

"One of our strengths is the leverage that our brand can give. Our clients absolutely get benefit from the reach and network of the McGrath name, with the reassurance of knowing that they have engaged a trusted property management expert."

While the reputation of the firm you select is important, it’s the relationship you have with the consultants that will really determine how smoothly the property rental process runs.

“It’s important to consider your options carefully when appointing a managing agent.

“You need to feel comfortable with the person you choose and that they understand your specific wants and needs." Adds Kyle.

It’s important to consider your options carefully when appointing a managing agent.

Property management firms offer peace of mind and the assurance that you can go on with your life without worrying about your property.

In the detail: "Most of our clients come to MMJ because of our knowledge," licensee in charge Nicole Horne from MMJ said. “Also they don’t have the time to deal with the day-to-day management of their portfolios.”

In the detail: "Most of our clients come to MMJ because of our knowledge," licensee in charge Nicole Horne from MMJ said. “Also they don’t have the time to deal with the day-to-day management of their portfolios.”

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