We can tell you all day that we’re the best and we manage your properties as though they were our own but we’d prefer to go one better and show you how we’re different and what we’ll do for you to help you grow the value of your property.
“At the ‘kitchen table’, vendors already know we’re a strong contender. We’re getting more appraisals, more business; our strike rate is higher; and competitors are now changing their procedures to counter our success!”
Anthony D’Ambros | Director | Stockdale & Leggo Epping
Case Study 1
Please learn how our ‘best in business’ approach is used by the Property Management team in our Epping office as shared by Business Development Manager Stephanie Barbanti and Director Anthony D’Ambros.
Point of difference: Our Epping team treats property management just as importantly as they do sales. Our property management teams have weekly KPI’s, receive training on a new topic each week, are quizzed quarterly on the knowledge learned at training and undergo rigorous VCAT schooling which has resulted in a 100% success rate for our landlords when represented by us in court.
Both Directors in our Epping office hail from Property Management backgrounds which means they understand the industry and have in depth insight which they pass onto their team daily. Anthony D’Ambros, one of the Epping Directors and as the Effective Officer in Control, also reviews all documentation including the condition report and tenant application form and signs off on it before it is sent to the landlord.
Result: Due to our high levels of care, systems and excellent training, our clients are very happy which has resulted in 85% of our business being referred or return business. This includes current tenants and landlords, previous buyers and/or sellers and referrals by any of these. Our team is also very happy in their roles which means we have less turnover so when our clients call us, the person they deal with is the same. We’ve also been in this location for 12 years and that gives our clients a sense of permanency and stability which is important for them.
How we help overcome our landlords biggest challenges: Our landlords two biggest fears are tenants damaging their homes and failing to pay rent. We have systems in place to mitigate the risk of both. With respect to damage to homes, we invest in high quality more detailed documentation in terms of lease agreements and condition reports. Condition reports are actioned through our iPads which are streamed straight into our computer system. We visit properties with our condition report software and take up to 200 photos, with every single photo being labelled. We also customise our reports to fit with the layout of your house and this robust system has resulted in a 100% success rate at VCAT.
If a tenant moves into arrears, we are ruthless in chasing them up and getting them back on track. From when the arrears commences, we are in contact with our tenants, through three to five different forms of correspondence, every second day.
Result: Industry standard arrears is 7%. Ours is 3% and we are incredibly proud of our 100% success rate representing our landlords at VCAT.
Communication: Before we leave at night, we have three rules which must be abided by:
- Every call back needs to be made
- Every email needs to be answered
- We record everything we’ve done that day in a communal book to ensure everything has been actioned.
We want to let our tenants and landlords know that we’ve received their communication and are going to action it.
Result: We have 33% of our tenants moving into another of our properties because they don’t want to leave us which for landlords is great because we know our tenants, we’ve been working with them closely for a long time and can vouch for their integrity.
‘Landlords choose me because as they trust me, they know that I will manage their investment to the best of my ability, knowing that they can live their life without worry as to what is happening with their property and/or tenant.’
Nicola Sloan | Director | Stockdale & Leggo Narre Warren
Case Study 2
Nicola Sloan, Director of Stockdale & Leggo Narre Warren, shares how her ‘best in business’ approach to Property Management has resulted in stellar outcomes for her landlords.
The traditional perception to landlords is that the only point of difference from one Property Manager and/or department to another is fee. We have been able to successfully debunk this myth for our landlords through implementing packages dependent on what level of service the landlord wants, from basic accounting and Property Management service through to a guarantee that payments will be deposited to the landlord's nominated account by set dates.
Trust is Key
The Narre Warren Property Management team have landlords who have been loyal to them for a number of years, with some remaining loyal for up to 15 years and Nicola believes it all comes back to “trust”. Our landlords know that their affairs with regard to their property are our highest priority. We also make a point of staying in touch with all clients, so they always feel at ease and know that we are available whenever needed.
Communication is King
Communication is the most important element to successful property management. The Landlord and Property Manager relationships are generally long term so the landlord needs to feel and know that their property is in good hands and that we are always available should they ever have a question or wish to discuss any real estate matter.