Case Study 3
Real costs of a cheap management
The owners contacted Encore Property Group for help.
The agency who had offered a 12 month discounted rate on the management fee as an incentive provided a low-quality service and this was very disappointing for the owners
The property manager unfortunately was inexperienced, unproductive and left the owners concerned about inefficiencies around the management of their investment property. They had to deal with repairs and strata issues themselves as the property manager preferred to pass on this responsibility rather than to take action themselves and resolve issues. Upon taking over the management, we discovered that the property did not have a valid lease in place, two out of the three people who had been approved to lease the property did not sign the lease and never actually moved in, and the office did not hold a working set of keys for the property.
Thankfully, we were able to address these issues and turn the negative situation our client had experienced into a positive outcome in a short time frame. The tenants were also very grateful for the agency change and couldn’t believe the communication they were getting from us including something as simple as receiving a rent receipt! They now feel secure, comfortable and happy in the property.
Within just five months, we inspected the property twice, maintenance repairs were reported and actioned in a timely fashion without involvement by the owners, and the tenants who actually live in the property have now completed applications forms, had references checked and the lease is now correct and valid.
After reading our reviews on google and making time to have a chat, the owners were not concerned that Encore Property Group had a slightly higher management fee because they knew they would have peace of mind when it came to looking after them and their property. We explained that to have good quality people, systems and processes we have to pay the money to have them. The good old cliché, you get what you pay for in this instance.
This has resulted in very happy owners who are thankful they chose to invest more money in the management of the property to receive an ongoing, high quality, professional service from a team of experts that actually care.
Pay a little more to get the service and peace of mind your biggest asset deserves.