News & Events

For 30 years, the Director of Metro Property Management has heard one constant complaint – why is there a ‘revolving door’ when it comes to property managers?
Statistics show that more than a quarter of property managers are likely to leave the industry in the next five years. This is a higher churn rate than many other industry sectors in Australia.
With many not lasting longer than a year or two, there are many factors that contribute, including it being a high-stress role.
Some of this stems from issues during Covid-19 lockdowns, which put immense pressure on the industry as a whole causing issues created by the highly stressful conditions. During lockdowns, approximately a third of property managers in Victoria left the industry.
A combination of rising rents and housing scarcity, along with owners having financial implications of their own, has not helped.
However, there are many investors who are also adding pressure.
Owners need to be asking if they are paying enough for the professional service they expect or demand. Some need to also question if their own communication, language and style is acceptable today.
Many owners are often chasing the next bargain. They are looking to save themselves an extra $10 or $20 per month. In some cases, they get what they pay for – and it might not be what they want or need.
In cost cutting, are investors missing consistency, knowledge and experience? Seeking the lowest deal may be the only way they can compare property manager verses property manager or choosing the ‘red brand’ over the ‘blue brand’.
Why do property managers have so much difficult demonstrating value? Maybe as an industry when property managers are pitching for business, they are asking the wrong questions.
We need to clarify if a new client wants to work with a property manager with five years’ experience or someone with 18 months. Is it important to them that the person or business managing their investment is on top of constant legislative changes or has the experience to manage issues – of which there can be many?
We know how taxing property management roles can be and there can be a fine line when it comes to juggling the needs of investors with renter demands. That’s why Metro Property Management puts a lot of time into training our people, especially around legislative changes.
Constant variations to legislation can cause major demands of the time of a property manager, so we ensure we stay on top of the laws as they change.
We are proud to have had many of our team with us for many years – and way longer than the industry average.
At Metro PM, we work hard to create a positive work environment for our team to enable us to deliver better outcomes for landlords and tenants alike. Talk to us today to see how we can help you with your investment.