How do you become a strata manager in NSW and Victoria so you can add strata management to your real estate business?
For motivated and proactive real estate agency owners, the addition of property management as a service makes sense. Taking on responsibility for landlords and tenants creates a ‘bread and butter’ income stream, delivering more predictability and more financial stability.
Thinking of selling your real estate business? It is important to understand its value first. Take a look at the benefit of having an independent valuation.
Thinking of exiting your business and considering an internal buyer? This can be a win/win as the person already understands your business and the way it works. You can also negotiate a gradual withdrawal from your responsibilities, depending on your preferences.
When growing your rent roll, dividing the salespeople and those who are more operations focused can be a winning formula.
Building your business can often be a chicken/egg situation. You would love more clients but the ones you have are taking up almost every waking hour for your property managers. If only they could forget about answering landlord and tenant phone calls to focus on building your rent roll!
How does managing a strata roll differ from managing a rent roll and should your real estate agency go down this road?
Strata is becoming more popular as medium and high-density housing takes over the suburban landscape. For real estate agents, this presents an opportunity to expand into strata roll management as well as traditional property management.
Does the way people feel about your rent roll contribute to its value? Find out the answer, and how you can improve goodwill towards your agency.
When preparing to buy or sell a rent roll, the number of clients in the database, the value they bring and the length of time they have been with the business all come into play. These are all tangible and can be measured.
As a real estate agent, you may receive a call from a landlord client who has put money into a retail outlet or office and wants you to manage it. This is an excellent chance to grow your rent roll, however there are different rules and regulations around the letting of this type of property which you must comply with.