When do I get my bond back?

When do I get my bond back?

At Real+ we often like to take a moment to think about things from the tenants perspective. This allows us to not only improve the property management process to make things as streamlined and easy for us as possible, but also gain a greater perspective of understanding when communicating and dealing with tenants.

This week I took a moment to think about things from the tenants perspective at the time of vacate, final inspection and bond refund.  I took a moment to think back to the times I have myself vacated from a property, what my expectations were compared to what happened, and then put that into perspective as to how I had handled vacating tenants as a property manager. This vacate stage seems to be one property management function that is handled quite differently from agent to agent.

Some questions I felt went unanswered as a tenant (despite my own property management knowledge, and the receipt of a generic vacate letter) were around when they planned to show prospective tenants through the property, whether I was supposed to drop the keys to their office, when I would be meeting them for the vacate inspection, and most importantly (the most common frustration of tenants and hardest things for a property manager to guarantee):

• How long would it be until my bond was refunded?

Most tenants are relying on and budgeting on that money for some purpose so understandably they get frustrated when it’s not as easy as keys back, bond back. As a property manager, I know I couldn’t guarantee a time frame for the tenant as to when they would get their bond back, it depended on whether they’d returned the property in good condition, if it was clean, if extra work was required, if all the keys were returned, how quickly the landlord confirmed it wass okay to release the bond etc. So many variables.

If we can’t 100% guarantee the time frame, what can we control? How can we avoid an angry tenant at the vacate inspection? Well not only can we control how we communicate the process, but also how we provide expectations to the tenant across the vacate process. This will help alleviate some frustrations. Often we know what the process is and what the tenant can do to ensure they have the best chance of a speedy bond refund, however we are not communicating this to them each time.

Next time instead of sending out the generic vacate letter, why not provide the tenant with an outline of the process and what steps they can take to ensure their bond is refunded as quickly as possible! We have created a handy checklist you can provide to your tenants when they are vacating called the “How to ensure a Speedy Bond Refund Tenant Checklist,” click here for your copy.

If you are Real+ member, click here to visit Real TV where you can watch our webinar on Condition Reports!

Are we keeping our staff safe?

by Hermione Gardiner

As many of us have seen in the news, an outgoing inspection ended in a trip to the ER for a Western Australian property manager last week after she was brutally attacked by a tenant. We thought it prudent for you, our business owners and department managers to make comment on this and raise some awareness for on the safety of your team.

The relationship between property manager and tenant is usually fairly normal until this last day. On this last day emotions are high both from:

-          The tenant:

o    Stress of packing, cleaning, moving

o    Stress of money on the line

o    Irate nature if they have been asked to leave or terminated

-          The property manager:

o    Worry of confrontation at vacate

o    Uncertainty of how to broach issues with a long standing tenant whom they have a working relationship with

o    A poor attitude of “finally this difficult tenant is leaving so I don’t care”

It’s no wonder these situations can escalate out of control, especially when you already have an irate tenant at play. As Sara Young of Realmark says: “Whilst these types of incidents are rare, the outcome can not always be prevented, and while we don’t want to spark panic, it is important risk is minimised”

So how can we minimise the risk to our teams? Each office will be different but here are some tips:

• Communication of process – What does your vacate confirmation letter say about how the vacate process will take place? Does the tenant think that they will get their bond back on the spot? Are they aware there can be a two week turn around on the bond refund? Have they been provided with a copy of their ingoing condition report? Have they been provided with the steps to ensure there is the best chance of their bond being refunded? Take a look at the “How to get your bond back” tenant checklist in the resources section of your Real Plus platform.
• It’s okay to leave – Do your staff know that they can just walk out and leave if they feel unsafe, uneasy or threatened? What is your procedure if they do feel unsafe or have to leave? Is it in your procedure to you report any violence or threats to police. Have you considered investing in panic alarms for your staff to carry?
•  Outsourcing inspections Have you considered this avenue to avoid confrontations with tenants – outsourced inspections provide an independent report, unbiased and based on the facts, allowing you to distance yourself from findings. Outsourcing comes at a cost of course, but perhaps consider the other benefits of your property manager not only being able to rely on an independent report, but also the cost savings of that time in the office.
•  Bringing two people, or a third party along Have you considered sending two people to inspection if tenant is already an irate customer. May not be plausible for every inspection but we need to support those team members. What procedures do you have in place to warning system for future property managers of past situations, is this recorded in your trust accounting software?
• Keeping track – Staff need to diarise all inspections so we know where they are at all times. Importantly if a PM is conducting their inspection on their way home, must check in after inspection – is this written into your office procedure?
• Training in conflict resolution – Do your team regularly undergo training on conflict resolution? Do they know how to get a clear head and get out of threatening situations? Do they know how to stay neutral and factual, stating what is different and that will be discussed with owner. Not what consequences are. We have some great webinar training on the platform or can cater something to your team.

What other tips and ideas do you have to ensure your staff stay safe? Let us know! And of course get in touch on our facebook if we can help in any way.

Leadership – When the Leader is Finding it Hard to Lead

As you may know, I work with many leaders around the country as a coach and mentor; I am very humbled to be able to provide assistance and guidance to some amazing people. I often learn from them during my sessions or receive reminders of the importance of various leadership activities and traits and at times my own short comings.

In today’s session, I was reminded of one of the biggest challenges that a great positive leader faces, is the challenge of actually leading in the right direction all the time. Being a leader can be relatively simple when things are going well, but what happens during difficult times, times when our teams are frustrated and negative? What happens when the leader shares the frustrations of their team? Today we discussed how to lead a team during this time.

Let me share a few of our findings;

• Be real with the team, let them know you too are frustrated, but convey this in a realistic emotionless manner
• Ensure the team understand you are choosing to see the glass half full, however difficult it may be
• Constantly refer back to the core values of the business, are we or how can we embrace these in the current circumstances
• Empower the team to identify what they can influence to improve, even slightly, the situation.
• Provide the team with the task of formulating solutions, several of them, and if appropriate and differing expenditure levels

In times of challenge, your team are watching your every action; they look to you for not only guidance but confirmation that “things will get better”. Your first step…. Believe it yourself!

- Fiona Blayney

The 7 Don'ts of Creating Strong Client Relationships with your Landlords

Working in property management means we have to wear many hats and play many different roles for our clients. It can be a demanding yet rewarding job. There are several minor mistakes than can happen on a daily basis but generally these mistakes can be rectified without damaging the client relationship.

Sadly there are a few more significant relationship mistakes that we can all easily make that will potentially damage a bond with a client. Once a relationship with a client is damaged or doubted it can make even the simplest tasks moving forward, difficult to deal with, let alone keeping that client on board for life.

To ensure you keep your client relationships strong from the start (and not to mention make your life easier,) here are 7 tips from the experts of what not to do.

1.       Don’t think it’s just a job – Passion is palpable, if you don’t care about your job it shows. Not feeling passionate? Take a moment to make a connection between what you do and the bigger picture. Constantly seek out ways to grow, learn and develop. Would you prefer to have an agent who is passionate about what they do? Or doesn’t care? What breeds more trust?

2.       Don’t be too sure of yourself – Keep a healthy perspective of yourself, remember it’s not about you and stay client focused. Clients do not like someone who comes across as patronising, knows it all, or constantly sings their own praises. Show me how good you are, don’t tell me.

3.       Don’t tell ‘white lies’ – This includes exaggerating. We can usually tell when others are doing this so why wouldn’t clients be able to pick up on it?  “When you create a reputation for honesty, for laying out all your cards even when it doesn’t benefit you, for telling the whole truth – you’ll gain customer loyalty that money can’t buy. Clients will trust, respect and refer you and your own life will become easier” - Joseph Callaway

4.       Don’t be too professional – Remember to stay human and be real to your clients, being too robotic and professional will give off the impression to the client that they are just another number. Don’t be afraid to make a personal connection - give a little something about yourself, find out more about your client and see them as more than an ATM machine.

5.       Don’t think you’re always right – Being the expert in the relationship it’s easy to automatically think you are right, but that doesn’t mean their opinion doesn’t matter. Try to put yourself in the clients shoes and see things from their perspective, you might find a new way of looking at things or at least a better viewpoint and attitude to exhibit in those tough conversations.

6.       Don’t be tight with your time – We all know our time is valuable and so do your clients. Wrapping up that conversation to get to the next one is noticeable and will not show that their relationship is important to you. Sharing your time, taking that extra minute to explain, educate, re-clarify or seek input, can become the most valuable relationship maker. “Imagine everyone you meet is wearing a sign around their neck which says - make me feel important” – Mary Kay.

7.       Don’t fail to express gratitude –We all want to feel valued, there are many ways to say thank you other than the usual verbal way.  It’s easy to take clients for granted or make them feel as though they aren’t valued. “Find ways in your everyday discussions to make them feel valued through getting to know them personally, forgiving occasional bad behaviour, and staying up-to-date in your field so you can give them the highest level of service," Joseph Callaway says.

If you are Real+ member, click here to visit Real+TV where you can watch our webinar with special guest expert Kirsty Spraggon: How to Create a Client for Life.

How Would You Rate Your Rent Review Process?

We all know an essential part of our property management process is the rent review. At this stage we are generally finding out what the tenants plans are and if they want to stay on, then letting the landlord know the current rental value. But what if we took this simple rent review s step further and conducted a complete tenancy review with the landlord?

What if next time the rent review comes up we conduct the tenancy review as if we were sitting at a new listing presentation with them to discuss their needs by asking questions such as:

• “Paul, before we review the rental value on your property I just wanted to have a chat about you. What are your plans for the next 12-24 months?
• How have you found the tenancy so far? What do you think of the tenants?
• What is going to be most important to you in reviewing this tenancy? Increased rental value? Or tenant security?
• When would you like us to next review the rent?
• Do you have any plans to move back in or sell in the foreseeable future? As we can work on a plan towards that together.

Perhaps the landlords wants, needs and expectations have changed since you appraised their property 12 or more months ago. Things change so quickly in all of our lives, we need to remember that our landlords are people like us and things change in their lives too, therefore we need to consider their needs which are constantly changing just as our own are.

Originally your landlord wanted a family in their property, but are quickly realising that perhaps that professional group would have been better. Perhaps they were planning to stay away for 3 or more years but now plan to return home in six months time. Perhaps they are thinking of selling in a year but may not realise increasing the rent now risks the tenants vacating closer to the sale time.

This new process of reviewing not just the rent, but the tenancy itself will enable you to best recommend options to the landlords based on their needs (and not what we assume their needs are based on our process). Most importantly, just by opening up this whole new world of communication you are improving the relationship between yourself and the landlord by showing you actually care about their wants and needs. Imagine the possibilities.

If you are Real+ member, click here to visit Real+TV where you can watch our webinar: Systemise for Success - Rent Reviews.

New Condition Report for Residential Tenancies in NSW

In a bid to reduce the incidence of falls from windows and balconies, the NSW government has made changes to the condition report for rental premises. Effective from 1^st March, the new version of the condition report includes ‘window safety devices’ wherever ‘windows/screens’ feature.

Whichever method of condition reports you use, whether that be paper, online or a third party application, ensure that your reports are updated to reflect this change. You can see an example of the new version of report by downloading a copy from Fair Trading’s website here.

For more information surrounding window safety and the safety measures being implemented in NSW, visit the Fair Trading window and balcony safety page.

Need Advice on Landlord Relationship Management?

Don't just woo them - win them over long term!

The first stages of the landlord relationship are kind of like a new romance. We are trying our best to woo the client during our first date with them (the appraisal), showing them all our best features and tricks (during the leasing process) and securing them as yours (negotiating the tenancy).

But what happens once this honeymoon period is over? Does the ongoing relationship burn strong with confidence that they have made the right choice in you?

Or is this the part where attention to that client quickly fades as other tasks take priority, and the client is left wondering why they made the decision to go with you in the first place? Are they thinking “None of those amazing promises they first made are being met!”

Perhaps the problem doesn’t lie in there being other tasks to do (there will always be other tasks to do) but potentially, in the rush to woo the client over: 

1. The needs of those clients hasn’t been effectively listened to, recorded, or passed onto the property management team. How are they best contactable? What level of involvement do they wish to have in the ongoing management? At what stage do they need to be advised about certain issues?

Or 2. That we haven’t done a thorough job in educating our new clients as to exactly how the ongoing management process will move forwards after the initial honeymoon period. Do they know what the property management service includes? How we communicate with them, how is best to contact us, expected response times, how unforeseen issues will be dealt with, when they receive their funds and more.

Of course first impressions are important to establish the relationship with the client - the initial impression can set the tone for the entire customer experience! However it is increasingly more important to spend more time in discussing the needs and requirements of the ongoing relationship, to ensure that you’re passing over the baton smoothly beyond the initial stages of leasing. 

If you are Real+ member, click here to visit Real+TV where you can watch our webinar: Starting the Landlord Relationship Right.

Want to Learn the Secret of Prospecting?

Prospecting is a fact of life for those wanting to be successful in New Business. I’m sure we would all much rather rely on referrals, word of mouth, even sales leads, however in order to get ahead of the curve and generate more leads we have to prospect!

So why is it that even the most experienced of us resist this proven strategy unless we are poked, prodded and pushed by our managers?

Excuses include:
“I don’t like the rejection.”
“I don’t want to come across like I’m desperate for business.”
“I don’t want to sound like a telemarketer.”
“I don’t like interrupting people at work.”

There are few main dynamics that prevent us from embracing cold calling. Cold calling is hard work, no one likes to hear ‘no’ and we all have the need for instant gratification.

The key to busting these excuses and breaking the mould is understanding that it’s all a numbers game. You need to train yourself to recognise that every ‘no’ you hear brings you one call closer to making an appointment or creating a relationship. You also need to condition yourself that eventually you will get a reward for your efforts, there is sadly no magic quick fix or instant result. 

When you learn any new skill (even a hobby, sport, or language) it takes time to just become comfortable. It takes longer to develop a level of consistent proficiency. And, it takes even more time to develop your skill to the point of excellence. The same concept applies to prospecting. You can’t expect to make ten calls and master the skill (or get the results).

The more calls you make, the easier it will get and the more proficient you will become. As your skill improves, so will your ability to generate leads and secure appointments. If you can push through your initial resistance you can develop the ability to postpone your need for instant gratification. And as you do this, your results will improve!

If you are Real+ member, click here to visit Real+TV where you can watch our webinar: New Business Bootcamp Part 7 - Prospecting.