Home' API Magazine : May 2014 Contents 35
API MAY 2014
MAY 2014 API
landlords, negotiate with tenants and handle 10 requests in
the space of five minutes? API has started an exciting new
monthly section, Behind the scenes, and this month we
put property management under the microscope. Let’s find
out what it takes to look after hundreds of homes, tenants,
landlords and mini retirement nest eggs around the country.
¿ DAY-TO-DAY LIFE
Property management always has something different and
it’s always busy. Take a long lunch and the piles of work will
quickly mount up, Nancarrow warns.
“If you commit words to an owner then you should do what
you say you’re going to do,” she says. “Even if that means you
have to call at 8pm at night.”
Most property managers have a list in their head of things
they need to do. Nancarrow has it down to a fine art – she
spends her day working in 30-minute time slots, which
enables her to get most things done. But it’s not a nine to
five job. Nancarrow works five days a week and also spends
Saturday mornings taking potential tenants through open
homes. She might get the occasional afternoon off but at the
moment her company is trying to build its client base, so
down time is out of the question.
“It’s an industry that’s not for the fainthearted or someone
who has ego issues or soft skin,” she says.
“You need to be bulletproof, because sometimes you’re in
the firing line from every direction – tradies, property owners,
tenants and even internal.”
¿ WHAT YOU’LL LEARN
Property managers will quickly learn the ins and outs of being
a property investor. They’ll also learn to be confident and
street smart, Nancarrow says. She has dealt with all sorts
of people from all walks of life in western Sydney, the inner
west, the north shore, Noosa and now the eastern suburbs
of Sydney, but no matter how exclusive or tiny the property,
all landlords and tenants rely on a good negotiator. You need
both people skills and patience, because sometimes the owner
is right, other times the tenant has the upper hand. Property
managers also need to be open minded and non-judgmental
because tenants often care about the fact that they’re renting,
“Most people are renting for a reason. They can’t afford
to buy or they’re going through a separation or about to
get into a marriage. Sometimes the reasons are negative
but you have to turn it into a positive experience for them,”
“They don’t want you to think they’re only a renter and they
can’t afford to buy, because there’s a stigma with renting.
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æIt’s an industry that’s not
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PROPERTY MANAGER \\ BEHIND THE SCENES
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