A new era of Property Management is here
Last month we checked in with our Property Management department to talk about the COVID-19 impact on our industry.
One BresicWhitney staff member even hinted that current pressures had delivered the side-effect of improved processes, elevating our thresholds and amplifying the output of a high-preforming team.
We checked in with the three teams that make up BresicWhitney rental space (from New Business through to Leasing and to Property Management) to find out more.
The latest video chat is below with business development exec. Peter Marsi, leasing team leader Benjamin Small, and PM technical lead, Donna Chu.
Around our office it was quickly becoming clear that we were no longer ‘adapting’ but rather, ‘working more effectively’ in a new environment. Now that we’ve moved away from the unexpectedness of it all, proof of team performance has revealed itself in our numbers.
We found it inspiring to reflect upon. And we hope our colleagues in rental circles will too.
BresicWhitney leased 173 properties last month. Not just a July record, that’s a record for any time in the BresicWhitney history.
More than 2500 people came through our homes in July, with an average of around 5 people at each inspection.
In a time when leasing agents across Sydney were doing it tough, our team managed to maintain a time-on-market average of 22 days. That’s more people though homes than July last year, and fewer days on market.
It didn’t come without outside-the-box thinking.
The first challenge for those teams was to recognise that a new rental market had arrived. Values changed, and with that, people’s behaviour too.
With prices reset across the marketplace, the three departments operated more closely to get homes leased.
Our New Business Team has been working to keep our pricing strategies sharp, setting appropriate price expectations with owners from the outset.
That set our Leasing Teams up for their July success.
The Property Management Team has then been able to manage ongoing relationships with a mutual understanding of the market, open dialogues, and strong relationships with landlords and tenants.
This also helped when a wave of price negotiations came to an end, as PM teams assessed people’s situations on month-to-month basis looking forward.
With the new market needing a contemporary philosophy to managing people’s assets, we worked hard to establish and maintain trust. Unexpectedly, that brought much-needed confidence to difficult times.
We hope to pass some of that on. All the best.