What To Look For In A Property Management CompanyTuesday, 23 September 2014 -
Check out our CEO Melanie McFarlane being interviewed on Business Trends TV, Melanie discusses what to look for in a good property management company. Text Transcript of the video:
Hi, I'm Liz Cortes with Business Trends TV and today I am joined by Melanie McFarlane from MCM Property Services. Hi Melanie.
Hello, thank you so much for joining us today for this interview. So before we jump into the interview on how to find a really great property management company I want to tell the viewers a little bit about you. So Melanie McFarlane is the owner and operator of MCM Property Services and they specialise in dealing with residential leasing and property management. So MCM Property looks after properties all over Northern and Western Sydney so Melanie I'm so glad that we get to interview today. So my first interview question for you is as an expert and someone who's been in the real estate industry for over 13 years what advice would you give to someone that's looking online for a really good property manager?
Well the thing is there are a lot of companies out there so really they need to start with doing some research on line so before they pick up the phone and actually ring anybody. What I'd recommend is that you have a look online, have a look at the agencies website, see what sort of information is available about the company and then also look for reviews online. With social media today people are pretty comfortable giving their opinion so you can look on things like Google reviews or True Local or Facebook reviews and really see what people are saying who are actually using their services. Obviously companies always say good things about themselves but you want to hear from people who have experienced what they do.
That is great so go and check out true local, I know that is a big online directory in your area as well as google plus. So when it comes to expertise and you’re taking a look, there's lots of property managers now, what advice would you give about expertise or experience or what should they be looking for to make sure that they choose the right property manager?
So I think one of the big mistakes people make is they look for how long the company has been around and really what they should be looking at is how long have the property managers been doing property management. Unfortunately there are some businesses out there who probably have a bit more of a sales focus and what they tend to do is actually employ younger less experienced property managers because they are a bit cheaper and often they are employing them really as a breeding ground for sales people rather than proper specialised property managers. So what I'd say is you really need to look for someone that has been in the industry doing property management for a reasonable period of time so that they do have the knowledge and experience to be able to look after and really care for your property. There's a lot involved, there’s a lot of legislation, there’s a lot of paperwork, there’s a lot they need to know and you really need somebody that’s been in it for a while and really understands what it takes to look after what is really a landlord's biggest assets.
That’s sounds great, definitely looking for someone who’s been around the area and also even the area you are wanting the property manager to be around so that they know that area, right, wouldn’t you say?
Yes absolutely, it’s important to have a knowledge of all facets of property management so how to look after the property, what the rents are in the area, what sort of tenants are around, understanding what the ideal tenant for that property is so that we can really target the marketing and get the right people in. And then ongoing obviously looking after the lease and understanding what the compliance requirements are for that as well.
Great so when it comes to quality of service in choosing that property manager what do you think is the top couple of qualities that they've got to have.
Well I suppose the difference between picking a property manager and picking a sales person is perhaps the length of time that you have to deal with this person. Ideally you have a property manager for as many years as you own a property so you really have to look for someone who you are comfortable in dealing with on an ongoing basis so they need to be really good at their job but they need to be somebody that you are happy to have a conversation with. You want to be comfortable that they're going to return phone calls, they're going to return emails, they're not hiding from you. You want somebody who’s personable because they have to deal with your tenants as well so they need to have sales skills and be really comfortable talking to people but also firm enough to be able to act in your best interests. Sometimes we have to do things that perhaps the tenants may not like or you have to deal with some issues and you really need somebody who's strong enough in character I suppose to follow through and do all the right things.
Excellent, that's a lot that question you are jam packed that with all kinds of great tips. You definitely have experience in this area and thanks for letting a person who watches this video learn more from your experience. Now I know you are the owner and operator for MCM Property Services and if someone was coming to you and wanted you to lease and manage their property what experience would they have?
Well I suppose the first thing they need to know is that if they pick up the phone and ring MCM Property Services they're going to ring me so people can feel really comfortable that they are getting somebody who does have the experience. Obviously it’s my business so I’ve got a vested interest in making sure that all of my landlords and tenants have a really great experience so if they pick up the phone they going to speak to me, if they email it will be me returning their email. There are some businesses out there who have begun outsourcing administration and reception and all these sorts of things to oversees which depending on your opinion maybe abit concerning so people can feel really comfortable that it’s me that they're dealing with. I'm very hands on, I think of myself as quite a personable sort of person so I'm easy to talk to and I think all of my landlords and tenants have had a great experience.
Excellent I know that you have something very special for the person that’s watching this video right now so why don’t you tell us about that.
Yes so I understand that picking a property manager or indeed changing from a current property manager, it is a big decision so what we like to do for people is we do actually offer them one month’s free management services so they can come, try out, experience for themselves what we have to offer and financially they're not paying any fees for that month so we have that trial period available to all our new landlord customers.
Wow that is fabulous what a great offer to offer people who are watching this right now I'll put up your phone number right here, in web slide and you can also click it right below this video or somewhere around this video but what is the best way to get hold of you Melanie.
Pick up the phone and give me a call so you ring 1300 309 700 and it will come through to me and I'll answer all of your questions and if you’re around in the Sydney area I'm happy to come and meet with you. If not we can speak over the phone or indeed do a Google Hangout and chat over the internet. There's a lot of options available depending on where the landlord is situated.
Lots of great options, thank goodness for technology. So Thank you so much Melanie for doing this interview today. I had fun and I hope the person watching this right now I'm sure that you are really educating them in what to do and how to choose the best property manager for their situation so thank you so much.
It’s a pleasure, thanks Liz