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Whether you’re renting out your condo or multi-million dollar estate, at First Team® Real Estate, no transaction is “business as usual.” That’s why we’ve created a new set of rules and standards to serve you successfully in this challenging environment. We keep our finger on the pulse of real estate because it’s not just our job – it’s our passion. With over 40 years of business under our belt, we know what works.
Regardless of market conditions, achieve success and remarkable results when you use a company who knows The NEW Rules of Property Management.
Time is of the essence when it comes to tenant enquiry.
The time it takes to respond to a prospective tenant inquiry can make the difference between renting your property or a missed opportunity. Contacting a prospective tenant within 5 minutes versus 30 minutes increases the odds of capturing the inquirer by 100 with odds of qualifying them increasing by 21.
The average property manager takes over 15 hours to respond to rental inquirers. Not First Team property managers. We know time is of the essence and time is money, so we respond to every inquiry within the first 5 vital minutes. Converting more inquirers to qualified tenants.
First Team property managers not only respond to inquirers within 5 minutes, they ensure appointments are made to show property, preparing the inquirer to be application ready and providing them with an application at the time of inquiry.
It’s how we ensure vacancy periods are minimized between tenancies.
Feel comforted knowing rental inquirers are prepared to be application ready when you use a property management company that knows The NEW Rules of Property Management.
Note: 5 minutes is during standard business hours
Property that sits vacant costs money in lost income, and the longer the property sits vacant, the less appealing the property becomes until it eventually becomes a “stale” listing.
That’s why it’s important to not settle for basic pricing comparisons used by the vast majority of property management companies. First Team property managers have access to up-to-date Market Trend —our sophisticated, proprietary pricing tool that reveals statistics and trends based on up-to-the minute rental property supply and demand.
With exclusive market insights delivered by Market Trends, we are positioned to provide valuable and strategic recommendations such as increasing your original rental listing rate or calculating a more suitable rental listing rate to prevent you from being the property investor who is forced to ultimately end up reducing the rental rate and securing a tenancy for less than what the “true” market value is.
Be confident that your investment property will be priced accurately when you engage a property management company that knows The NEW Rules of Property Management
Property photography is standard in marketing property, but a property manager that searches for and finds the hidden treasures in a property, the intangibles, has the inside knowledge to showcase the “authentic” difference from one property to the next and attract the right match of tenants.
Most property management companies think you only need minimal photography and short written descriptions on the property, but nothing could be further from the truth. Professional photography, video tours, and 3D floor plans “sell” the property’s uniqueness. At First Team, we know the facts. Professional photographs, virtual video tours, and 3D floor plans rent properties almost 70% faster, over 80% closer to the rental listing price, and generate 132% more online views.
This is why a First Team property manager will seek out your property features and ensure they are showcased in the photography, virtual video, floor plan, and property description.
Innovative visual representation—that’s what you get when you use
a property management company that knows and understands The NEW Rules of Property Management.
That’s why First Team property managers act within 24 hours of reported maintenance.
We call it the chain reaction. If maintenance is resolved in a timely manner, the tenant will take greater care of the property. In other words, if the owner takes pride in the care and condition of their property, the tenant takes that same pride of care and responsibility.
Repairs left incomplete, ignored, or delayed potentially cost more money. Research shows that tenants become frustrated and disillusioned when property owners refuse to complete maintenance. Their “care factor” and connection to the property diminishes. Minor repairs left incomplete or ignored develop into major repairs. The property investor potentially loses income, value, and has a costly replacement expense instead of a minimal outlay.
First Team property managers are trained to make decisions on behalf of property owners when contact or instructions are delayed. The property will always be maintained to its peak appeal standard of care and repair.
High standards of care and repair maximizing returns and maintaining peak property appeal is what you achieve when your property manager knows The NEW Rules of Property Management.
Successful property investors have a business-like mindset when decisions are required on their property, evaluating all facts such as returns through rental income and property asset value increase. They review income and expenditure, ensuring that the expenditure provides a return on investment (ROI). Owning a property means there will be costs and overheads. Maintenance is not so much a cost unless the maintenance is becoming excessive. Professional fees such as property management should be considered as a business overhead, while also improving the overall long-term asset value and rental income, mitigating risk, eliminating stress, and saving time.
First Team property managers are trained to tune into the heartbeat of the market so property investors keep their finger on the pulse of market trends. The First Team property managers assist property investors with removing emotion by dealing on reliable figures, facts, and forecasts that provide confidence with understanding if the best possible net returns and growth are being achieved on the property.
Investing in maximized property growth and returns is achievable when a property management company follows The NEW Rules of Property Management.
Managing property successfully involves completing a multitude of tasks all at the same time, all with varying degrees of urgency and priority and all with pre-determined times for completion.
While every task is important, First Team property managers work diligently to design weekly structures. This provides the focus to work on tasks and ensure completion within the designated time frames.
First Team property managers will always provide their clients with times they are available for meetings, phone call communication, and email responses. All clients are provided with information about when their appointed property manager will respond to calls and emails. The First Team urgent response policy will ensure that, should a matter be urgent, one of the First Team property management teams is empowered to act, take responsibility for the action, and address it within the
required time frame.
It’s how we guarantee that we are responsive and can take responsible action when necessary.
Proactive management means responsive and responsible actions and property managers are predictive and pre-emptive by understanding The NEW RULES of Property Management.
Communication is the essential element for building working relationships built upon trust and respect, however, induction is the fundamental platform that ensures everyone understands their rights, responsibilities, obligations, and duty of care. It’s how First Team helps everyone to identify who does what, where it will be done, when it is be done, how it will be done, and by whom. We call it the “who, what, where, when, why, and how policy.”
By having a system that ensures every new client—regardless of whether they are a property investor, tenant, vendor, or a team member—is inducted into First Team’s highly regarded, respected, and recognized culture and service standards that will provide clients with peace of mind in knowing that everyone understands why they do what they do and when they should do what is required. We leave nothing to chance or guesswork.
Induction is ongoing as First Team property managers continue to provide reminders and updates on everyone’s responsibilities.
Insight through induction and an increased sense of awareness is standard when you are working with a property management company that knows The NEW Rules of Property Management.
Marketing a rental property requires a specialized skill, knowledge, know-how, and professionalism. It’s about attracting the most appropriate tenant to the property.
Not all properties are the same. Properties have special features both tangible and intangible that will attract a specific style and standard of tenant. A trained and knowledgeable property manager will skilfully highlight those features to attract in the shortest possible time the most appropriate tenant for the property.
Market specialized property managers know the market and know their demographic. They know what the tenants are looking for and how to highlight those features to the tenants. A specialist property manager will provide advice to assist you with making sure your property is appealing to the demographic for where the property is located.
Mitigating vacancy and maximising return—that’s what you will accomplish when you hire a property management company that knows the NEW Rules of Property Management.
Hiring a property management company based on the fees they charge could and will most likely cost tens of thousands of dollars in lost rental income and potential property asset growth.
Today’s property investors and owners hire their property management company by thinking long-term and by looking at the facts. It’s a false sense of economy to hire a property management company because their fees are lower than another company. First Team property managers are trained to think and act like a “Stock Broker.” Their objective is to always earn optimal rental income, preserve maximum appeal for the market demographic, and achieve peak asset value growth on behalf of the property investor.
Unlocking the earning and growth in your property—that’s what you will achieve when you hire a property management company who knows the NEW Rules of Property Management.
*According to the National Association of Realtors