WEEKLY UPDATE REMINDERS 1. Saturdays Berwick reception is open 9AM-1PM, Cranbourne and Narre WarrenTeams, if your clients need to collect keys on a Saturday, please co-ordinate with Berwick reception and have the keys dropped to Berwick. 2. First PM development squad - Thursday March 17th 2022 1:00PM - 2:00PM at Narre Warren office SmartHouse will be joining us for training to address the feedback from our survey. 3. March 24th 2022 Thurday Josh Phegan Top 10 Breakfast Josh Phegan Sales Training Josh Phegan PM Training Josh Phegan Sales Training
7:30AM 9:30AM - 11:00AM Level 2 - $300,000 plus GCI 11:15AM - 12:15PM 1:00PM - 2:30PM Level 1 - Up to $300,000 GCI
How to keep your best tenants for longer We all know a good tenant when we come across one. You know the type. They pay the rent on time. They are proactive and call you when a situation arises before it becomes a bigger problem. They respect the property, their neighbours, and most of all, you. They are the type of people who treat the property as if it were their own. Good tenants like these are hard to find, and once you do, you never want them to move out. No one wants to lose a tenant. The screening and vetting process associated with filling vacancies is time-consuming and has its share of headaches. But, when you have a dream tenant, losing them can be particularly devastating. Retaining a good tenant does not just benefit the Property Manager but the property owner as well. Reducing the turnover of tenants helps reduce expenses and increases profits, which is the goal of every property owner. Here are some cost-saving advantages to reducing turnover by hanging on to your best tenants, • Uninterrupted rental income • Lower cleaning and maintenance costs • Lower advertising and administrative costs
If you want to maintain the relationship, consider offering them additional incentives to stay for longer. For example, you can offer them a discounted rental rate, should they decide to renew. If they are hesitant about renewing the lease or are still on the fence, ask them what it would take for them to stay. Communication is one key to maintaining healthy and positive relationships with tenants. 3. Incentivise signing a longer-term lease One of the best ways to retain a great tenant is to extend the length of their lease, at a lower rate, as part of the renewal. If the current lease renews every six months, offer a one-year renewal. For 12-month renewals, consider a two-year renewal and lock in the rate as an added incentive. Be sure to crunch the numbers before making any commitments. Only use this method if it is financially feasible. However, while it may seem like the property’s income is taking a hit by offering the rental at a reduced rate, it is often more valuable to retain a reliable tenant in the long run.
4. Be kind to your tenants A Property Manager should never underestimate the power of kindness, In addition to the cost and time saved, retaining good tenants helps avoid the uncertainty of especially when it comes to your tenants. A renter is more likely to stay if you bringing in a new one, as there is always a chance that the next tenant will not be as good are friendly and cooperative. That means maintaining an open line of as the previous one. That’s why it is ideal to put measures in place to ensure tenant communication, being timely with your responses, and always treating retention. tenants with dignity and respect. Here are four proven ways to help retain the perfect tenants. 1. Address the tenant’s needs in a timely fashion A satisfied tenant is a tenant who will be willing to extend their lease. If you remain proactive about property maintenance and perform inspections regularly, a good tenant will be more likely to stick around. It should go without saying that tenants want their maintenance requests addressed in a timely fashion. If a good tenant respects the property, they will expect you to respect it as well. When you perform regular inspections, stay on top of maintenance requests and address tenant issues quickly, it will save time and money in the long run and keep common maintenance issues from becoming a bigger problem down the road.
For example, performing maintenance tasks or repairs in the tenant’s space, be sure to work around the tenant’s schedule whenever possible. By being cooperative and flexible, you are more likely to get cooperation and flexibility in return from your tenant. Being able to retain great tenants is a sign of good property management skills. Best of all, retaining great tenants and lowering turnover rates for your client makes you look like a superhero! Property management can be challenging, but with the right tools in your toolbox, you can shine.
2. Stay proactive about lease renewals It’s always a good idea to let a great tenant know in advance that you are interested in renewing their lease. By reaching out to them at least 90 days before their lease expires, you encourage them to start thinking about their plans. It also lets them know that you appreciate them as a tenant. If the tenant does decide to move, this gives you extra time to plan, cutting down on the costs associated with turnover and vacancy.
Article Source : PropertyMe
REAL ESTATE FUN FACT. Emotion is the biggest factor in the decision to buy a home 44% of Australian property buyers paid more for a property because "they really liked it" A lot of us like to think that we buy a house based on logic and reason alone. However, the reality is that location, value, rental return and school zoning are all secondary. According to a survey conducted by Commbank, 44% of Australian property buyers paid more for a property simply because “they really liked it”. Emotion is a huge driver of sales, so it’s important to sell a lifestyle, not a house. Article Source : PropertyMe
HAPPY BIRTHDAY
HAPPY ANNIVERSARY
Dean Obrien - March 17, 2022 Sharon McMillan - March 18, 2022 Kaitlyn Villella - March 20, 2022
Tiarni Rus- March 15, 2022 - 1st year
GET TO KNOW ME! Time I Wake Up - 5:45 AM Usual Breakfast - Eggs on toast with a double shot espresso Most Played Song - Jimmy Hendrix - All along the Watchtower Last TV Show Watched - The Sopranos Craving - Pancakes My Safe Space - Around my family
Andrew Athanasiou
Sales Associate of Daniel Gallagher
FEBRUARY REPORT https://issuu.com/home/published/bcnw_feb_2022_report
LAST 20 SALES BY SUBURB REPORT https://issuu.com/home/published/bncw_last_20_sales_per_suburb_feb_2022
LAST 20 LEASE BY SUBURB REPORT https://issuu.com/november2016/docs/feb_suburb_bncw_last_20_lease?fr=sNGI4YjMyNzE1Mzk