Staff Retention in Property Management

[PukekoPM]

Average employment time for property managers working for real estate companies is about 7 months - very high turn over industry. They get paid peanuts and have to put up with a bunch of crappy low end properties and scumbag tenants. Plus they're expected to manage way too many properties. I look after 100 average to top end homes with great tenants and no arrears, which is the perfect number enabling me to be well paid AND have a life!

[teamchase]

Average employment time for property managers working for real estate companies is about 7 months - very high turn over industry. They get paid peanuts and have to put up with a bunch of crappy low end properties and scumbag tenants. Plus they're expected to manage way too many properties. I look after 100 average to top end homes with great tenants and no arrears, which is the perfect number enabling me to be well paid AND have a life!

I understand its high turnover, 7 months sounds VERY HIGH, just wondering where you get that figure from?
And you've hit the nail on the head if I interpret you right: get paid accordingly and manage a suitable sized portfolio, based on what the properties demographics and demands are... (also either have the expertise to work for yourself, or work for an employer who will treat and train you right).

Were happy to manage some of your portfolio if it gets too much for you

[NZ_iv]

sorry wrong reply....

[BigDreamer]

I have been applying for property manager jobs over the last two months. Most of the roles advertised require an additional language to be spoken and unfortunately the second language I am fluent in is not the preferred one. Also the fact that I am an accountant wanting a career change does not help. Despite this I have a property portfolio of more than just three investment properties and am absolutely in love with property. How can property management have such a high staff turnover?

I'm very surprised you have not been able to find a job as a property manager. I know so many graduates who left their careers after a few years and went into real estate (after taking the course, of course) and had no trouble finding a job instantly. I would have imagined getting a property manager role would have been even easier given that you don't even need to have passed a specific course.

[elguapo]

I know so many graduates who left their careers after a few years and went into real estate (after taking the course, of course) and had no trouble finding a job instantly.

But real estate agents are paid completely on commission, they haven't got jobs as such at all.

[BigDreamer]

But real estate agents are paid completely on commission, they haven't got jobs as such at all.

Good point - I also know their 'income' is not considered salary in the banks eyes - at least not in the first year. I could be wrong, however.

[The Oracle]

It is a challenge in property management. When issues arise it is commonly because a property manager has left and communications or understandings of clients and tenants are gone with them.
Your best bet from a number of considerations is to work with an owner operator who have a real vested interest in satisfied clients.
"raises hand"
I have excellent relationships with all my clients and as the business owner - will not be going anywhere any-time soon!
You're welcome to contact me on 021 801 512
Kelly - Oracle Property Management
Auckland-wide