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a common mistake by property investors

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LeasingIn property management, like many things in life, you really do get what you pay for.  A common pattern among agents is the cheaper they get, the lower their service levels.

Here is a simple step by step analysis of how cheap fees can lead to poor service:

  1. Cheap fees – unfortunately the common perception is that agencies all do ‘the same thing’: we collect rent, get repairs done and find a tenant. With this perception, property investors may then be attracted to a cheap agent, or one that substantially discounts their fee in order to win your business.
  2. Increased managements – an agency with a lower revenue base because of their cheaper fees is prone to compensate by increasing the ratio of managements allocated per property manager.
  3. Burnout – the overload of managements may cause the property manager to struggle to meet investor expectations of service levels.
  4. Poor work culture – quality property managers are less likely to continue employment in those conditions. The principal may then have to resort to hiring either inexperienced or poor performing property managers.
  5. Poor service levels – due to this factor of now lower expertise, the level of service is further decreased.

Call us today on 69 211 555 for further information on what a quality agency can do to enhance your property investment experience.