How NOT to Let a Vacant Property!

Mike 21/11/2017

I recently met a property investor who told me he wasn’t very happy with his property manager. He explained that his rental was currently vacant and had been for about eight weeks, and he wanted to know more about what level of service we could offer him if he changed over to us as his property manager.

Never one to miss an opportunity to promote our company, I told him more about what we do. I also explained that we don’t have a silver bullet that will cure the problem of a vacant property, especially in a flat market like Wellington is going through right now. Vacancies are more common at the moment, and sometimes changing your property manager doesn’t necessarily mean you’re going to get a better result.

What an Idiot!

Not the investor – his Property Manager!  What he told next made me realise that service levels in this industry can be set pretty low sometimes! It seems that his current property manager did not show his property on the weekends, or in the evenings, or indeed anytime outside business hours.

Moreover, his property manager was not keen to show the property after dark! That might explain why the place was still empty….

Did the property investor become a new client owner for me? You bet! And to answer the other questions that might be popping up for you:

  • Yes we show properties on the weekends
  • Yes we show properties outside “business hours” AND after dark
  • Yes we found a new tenant quickly

It’s 24/7

It’s my view that property management cannot possibly be done only within “business hours”, and any property management company whose telephone message informs you that “Office hours are from 9am to 5pm Monday to Friday” is not offering a level of service that’s acceptable in the modern world.

Property management is a 24/7 commitment, and managemyproperty are more than prepared to meet that standard.

A few tips for you

  • Take excellent photographs – use a quality camera, with a wide angle lens (18-55mm)
  • DON’T photograph the toilet, or the inside corner of four empty rooms in a row
  • DO take photos on a sunny day
  • Write a compelling description – talk directly to your prospective tenant and tell them all the good points of the property – close to schools, off street parking, heat pump, etc.
  • Make it easy for people to get in touch anytime with more than one phone number AND an email address
  • Arrange an open viewing time on the weekend or in the evening (but not in the dark!)
  • Give people application forms when they view the property so you can get their references on the day

If all this seems too complicated, get someone to take on the job for you – hire a Property Manager!

 

managemyproperty is an independent Property Management company based in Wellington, New Zealand.

Richard Horne remains a tireless and energetic investor and commentator, running an experienced eye over the property market.