An internet survey by Real Estate Business asked agencies and property managers what percentage of your property management business is made up of problem landlords. At this stage with about 300 respondents 75% are saying 0-10%.
What the survey didn't clarify was whether they meant "how many of your landlords are problems", for which 0-10% is a good answer, or "how much of your project management staff are employed working on premises owned by problem landlords", for which the answer is probably much higher.
The same applies to tenants, and even the properties under management. Most are easy, but there are a small number that require much more work.
This is the aspect of property management that this blogger finds most rewarding. Within Ray White Beecroft the property management team pass problems to me, leaving them free to devote their time to the other 90% of the business. But my guess would be that 25% or more of the team's activity is dealing with problems.
Monday, August 22, 2011
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