If you thought being a property manager was all about property then you'd be mistaken. While the role of a Property Manager demands a thorough knowledge of Tenancy Law, the true sign of a great Property Manager is someone who is good with people.
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" Ideally, being able to talk around an issue and get a mutually beneficial outcome is always best and that is what we always try and do ... that's the skill, experience, knowledge and patience it takes and is what a good Property Manager can provide to a landlord," says Karen Day, Property Manager of Sternbeck's Real Estate in Cessnock.
Karen, along with the experienced team at Sternbeck's typically work a pod arrangement that sees approximately 200 properties being handled between a Property Manager and an Associate at any given time.
Within that workload there could be any number of issues from dealing with maintenance issues on a property, or talking to tenants that have fallen behind with rent, to larger more involved issues that can from time to time end at the NSW Civil and Administrative Tribunal (NCAT).
Training to become a Property Manager can be achieved by completing a Certificate IV for Property Services (Real Estate).
A minimum of 4 of the units from the course will allow someone to gain a Certificate of Registration through NSW Fair Trading, which means they can then commence work as a Property Manager under the supervision of a Licensee in Charge.
Being a people person is essential, as is understanding the Tenancy Law particularly in regard to breaches of tenancy agreements.
Property Managers regularly deal with a variety of properties depending on the location and age of the buildings in the portfolio. An inner city apartment can be much more readily dealt with than say a stand alone residential or rural property in the regional areas.
"A good Property Manager should be able to look after a portfolio of between 150 - 200 properties in areas such as Cessnock. City environments may allow a greater portfolio.
"The quality of property in Cessnock sees a lot of older style weatherboard homes, often over 70 years old - affordable to buy but because of their age, may need more maintenance throughout a tenancy." Adds Day.
The more maintenance issues there are, the more time it takes to manage a portfolio.
"Cessnock, Kurri Kurri and surrounds are essentially a cheap buy, however the rental returns are much greater in comparison to say the likes of Newcastle, Maitland and Lake Macquarie."
"It's the little things we do behind the scenes that can make the difference between something small turning into something big."
