Managing is about Respect
Wednesday 25 Oct 2017
Let’s talk property management. It’s rarely the headline story of real estate but it can easily be the difference between a successful investment and a disaster. But it would be a mistake to believe that it is all about the bottom line.
The reality of Property Management is that it is more about managing people than it is managing property. And it more to do with relationships and respect than it does money, although they are inevitably interwoven.
Here’s how I see it.
An almost inevitable tension that exists between owner and tenant. Of course an owner is going to be cost conscious in terms of maintenance and equally anxious about minimising wear and tear on their property. At the same time tenants are seeking a comfortable, functional place to call home and expect a rapid, reasonable response if an issue arises.
Our team of professional property managers are the men and women in the middle. And it is important to highlight our team recognise they must service both landlords and tenants with equal care and attention. Sure an owner has a lot of skin in the game, but a key factor in the financial success of any investment property is the tenant, so they must be treated with the same respect as an owner.
It can be a delicate balance which is why at Morton we have established systems like MortonFix and to ensure transparency and accountability for both tenants and landlords in terms of leasing, maintenance and administration.
It’s also why at Morton we consider Property Management to be a career path, not simply a stepping stone. Our team receives ongoing training and professional development to ensure they are continuously improving their skills and the service they provide to landlords and tenants.
The aim of our team is service landlords and tenants so both clients respect each other and the property itself. Only by achieving that goal can we deliver the right financial result for the landlord.