How Hard is it to Switch Agencies or Property Managers?
Thursday, 3rd of September 2020

 

When it comes to managing investment properties, owners and investors typically expect a premium level of service that assures them that their property is in the right hands. If this level of service is not being met, and you find yourself falling out of love with your property management agency, a common misconception is that switching property managers or agency is a complex, costly and timely process - however the good news is, it’s a lot easier than you think!

 

Staying with the wrong property partner to simply avoid the inconvenience of changing can have drastic knock-on effects in a variety of ways, including;

  • high vacancy rates;
  • reduced rental returns;
  • frustrated tenants;
  • maintenance fatigue;
  • property value declines.

 

We help property investors though the process of changing agencies all the time – in fact, it is more common than most people realise. When speaking to investors we are always clear that if they are not happy with their level of property management service, it’s best to make the switch early to avoid the aforementioned risks.

 

If you’re in this boat, the time to act is now before it’s too late!

 

 

Finding the Right Fit

Property is often one of the most substantial investments we make over our lifetimes, so it is essential for investors to partner with the right agency and property manager to align with their property goals and priorities. This crucial step in the decision-making process helps to ensure investment property owners have the perfect fit for achieving the most optimal results.

 

As we covered in our previous article, a responsive property management agency is paramount when selecting the right agency, as the dynamic property market constantly demands creativity, adaptability and autonomy in order to generate the best returns.

 

 

Changeover Timelines

If you’ve decided that you wish to change your current property management agency, the first step to focus on is checking your existing Management Agreement. Listed inside the document will be a notice period which indicates the amount of notice you have to give before a new property manager or agency can take over.

 

Whilst this process is usually dictated by the existing Management Authority that is in place, the usual notice period needed is 28 days, unless you are in a contract. This process is difficult to fast track unless the current agency is willing to let you out of your contract earlier.  

 

 

 

Managing the Switch

Once you’ve found a new property manager, they will generally take care of the entire process on your behalf to ensure a smooth transition into your new agreement. This can mean everything from liaising with the existing property managers and organising the new contract, through to auditing of the previous activity to identify areas of new opportunities.

 

Whilst this process can vary between different agencies, it should often require minimal input and time from the investor/owner, with the new agency doing the heavy lifting to get things moving quickly, easily and efficiently with minimal disruption to you and your tenants.

 

 

Introducing Our Process at Perth Property Management (PPM)

We understand owners are busy people which is why we’ve streamlined our process when switching over to our services, enabling owners to make a smooth transition to excellent service with minimal time investment. After all, it is this level of award-winning service which helped us become Perth’s leading property management agency.

 

Here at PPM, we do everything for you and manage the process from beginning to end. Whether you have an existing tenant, or your property is vacant, we will liaise with your existing property manager to make the switch for you. If you do have a tenant, we will ensure there is minimal to no disruption for them.  

 

 

Introducing Kristy Copping - Our PPM Director

 

8 Reasons Our Clients Partner with Us

  1. We are a specialist property management agency, so our focus is purely on property management, unlike a lot of other agencies who mainly focus on selling properties. This brings with it a series of benefits for owners and investors which we explain in more detail in this recent article.
     
  2. Our Director (Kristy) is personally involved in 100% of our new managements, taking the time to get to know all of our clients and ensuring they are getting the service and support they deserve. Kristy was also awarded the 2019 Property Manager of The Year by REIWA so you can expect award-winning service from the very best in the business.
     
  3. We offer a personalised service guarantee with a commitment that we will treat your investment as though it was our own, including flexible after-hours working times and weekend viewings, helping to lease properties quickly and efficiently whilst keeping vacancy periods to an absolute minimum.
     
  4. Our agency was recognised as the Residential Property Management Team Of The Year at the 2019 REIWA Awards, alongside our Director’s title as WA’s leading property manager, so you can rest assured that your property will be managed by an agency at the forefront of the industry, with our focus being on delivering exceptional service delivery to our customers.
     
  5. We also have a dedicated Client Relationship Manager who works closely with clients to ensure they are experiencing nothing but the best customer service levels.
  6. We do what’s right for you and your property over everything else, as our focus is on service delivery and ensuring that we develop long-term professional relationships with our clients as opposed to just running a transactional business - something we are particularly passionate about!
     
  7. At the time of writing this article, our vacancy rate is 0.7% less than half the Perth decade low average, which is a clear indication of our commitment to driving results for our clients and operating at the highest echelon of property management in Perth.
     
  8. We even offer free advertising photos for our new clients, an additional benefit of being a PPM client, helping to get your property showcased in the best possible light to reduce vacancies and to strive for maximum returns.

 

 

Our 60-Day Service Guarantee

We are so confident that you will enjoy your relationship with the PPM team that we offer a no risk satisfaction guarantee. This means that if after the first 60 days you are not 100% satisfied with our level of service, we will release you from your management agreement at no additional cost.

 

 

It’s Time to Make the Switch!

If you’re not experiencing the level of property management service your current property requires, making the switch to our award-winning services here at Perth Property Management is easier than you think.

 

We invite you to contact us today to begin a discussion on how we can offer you a customised and tailored solution to help you achieve your property goals.

FROM OUR PERTH PROPERTY BLOG