Property Management Companies in Australia
It’s estimated that as many as 10,000 companies are involved as rental property management companies in some capacity in Australia. Yet finding a professional quality firm to manage your properties efficiently, amidst a pandemic recession won’t be easy.
Hopefully, this post will provide some context to help you find and hire a reputable and high performance firm in Australia. Depending on your needs, you may find a good management firm in the list of Sydney, Melbourne, Brisbane and Perth companies below.
Rental Market Change: Temporary or Permanent?
What happens to the property management sector when a country’s real estate market is in flux?
When the work increases yet supply of talent, time and resources dry up, will Australian property management firms adjust and chart the right course?
Property managers in Sydney, Melbourne, Brisbane and other Australian cities face the same challenges that pressures that UK and US property management companies experience. Those challenges range from adopting tech, reducing paperwork, and especially — increasing efficiency. It’s the inefficiency that makes companies unprofitable and perhaps unreliable.
Those with good management systems and practices will skim through these troubled times much better.
Sustaining Revenue and Cash Flow
While some areas (i.e., inner Capital cities) are almost collapsing, others are enjoying unexpected growth. In general, some Aussie property management companies have had to reduce services overall (e.g., maintenance) to refocus on specific in-demand work such as rent collection and evictions.
And collecting rent is a big challenge right now. The cancel rent movement by 17,000 Aussie renters is being circulated online. In some US cities, this same trend to refuse to pay rent has been troublesome. Landlords are looking for creative ways to encourage rent payment from reluctant or reneging tenants under lease. Some are accepting partial payments.
Prioritize Your Needs
It’s wise to review all of the ways a property management company could help you, so you’re certain to get the real results you need.
When summer 2021 arrives, with a vaccine, the rental property sector in Australia will again be different.
Perhaps the key to selecting a property management services firm then is ensuring they have the core services and use a technology to streamline work. And all in one accounting/payment/communications tools help reduce errors.
It’s the technology platform that helps property managers reach peak efficiency and performance. You’ll need to review the platform they use, because it’s critical in the digital business era, that it can deliver on promises.
Reacting to Current Crises
Unfortunately, by reacting to these Covid crisis cash flow emergencies, it may encourage property management companies to compete or evolve in an unhealthy way. Some Aussie property management brands could become commodities who compete on price, specializing in services they might not even be competent in.
Are you a property manager whose business in Sydney, Melbourne, Brisbane or Perth is looking troubled? You’ll want to look into ManageCasa’s superb, simplified platform used by smart landlords and property management firms across the globe.
The Eviction Moratoriums in Australia
The eviction moratorium extension in Victoria and rent relief payments are welcome news for tenants. And for cash strapped landlords in Melbourne coping with the shutdown, it’s a relief too. Landlords find time, money and tenant cooperation are pressing issues.
10 Biggest Challenges for Australian Property Management Services Firms
10 Top Challenges Australian Firms Face:
- tenant non payment of rent and growing arrears
- helping to stem the tide of apartment rental lease terminations
- avoiding attracting poor quality tenants who can’t pay rent and won’t communicate honestly with landlords
- avoiding lowering apartment rents
- retaining quality, trained property management staff
- maintaining cash flow in midst of extreme circumstances
- communicating with tenants effectively
- filling apartment rental vacancies in inner city Melbourne and Sydney
- evicting non paying tenants
- landlords reducing operating budgets
And we know that rent collection, evictions, tenant screening, and tenant communications at this time are work intensive activities. Are firms here scaling up, adopting a property management software solution, and becoming more profitable? For most, it is a pause in business growth and modernization for now. But that will change.
The better companies, not cripped with the weight of the Covid 19 pandemic, will adopt new automation tools and refocus on value added services to grow revenues.
These companies will be better prepared to surge ahead in 2021.
Growing Apartment Vacancies in Australian Cities
These recent surge in unemployment and Covid 19 is a concern to everyone. Vacancies in the cities are rising, primarily in high density apartment buildings. These are difficult times with some expectation for continued high unemployment through September to November. Hopefully government aid will suffice.
Recent reports suggest property prices will fall up to 15% and vacancy rates could remain high. It may be that a successful vaccine when delivered will still not draw people back into Melbourne and Sydney. The vacancy rate rise in Sydney started long before Covid 19. You can see the details at sqmresearch.com.au/graph_vacancy.php
And in other Australian cities, it seems vacancies are drying up. It’s people migrating outward creating a bonanza for landlords (who screen carefully).
You’ll see the emphasis for modern companies isn’t on maintenance services, but rather on going completely virtual and mobile with their businesses. Virtualization right now can free up considerable funds being spent on costly office space.
Going virtual speeds service and allows tenants to resolve issues and educate themselves before setting into a long maintenance ticket process. Going virtual allows tenants to automate rent payment and put the onus on them to ensure timely payment every month.
Check out ManageCasa, and find out how your property management firm can scale up, go virtual, and manage expenses professionally.
Yes, you can try it out for FREE and experience the platform first hand with some of your actual rental properties. It’s best to schedule a Demo so you can be introduced to this amazing property management system.
Simplicity and property management dedicated features at an affordable price. Start off 2021 right with ManageCasa Property Management Software.
List of Property Management Firms in Australia
Sydney Property Management Companies
Do you have rental properties and need to begin research some firms? Check out this small sampling of Australian property management companies in Sydney, Melbourne, Perth, Brisbane and Hobart. We’re not recommending the officially, just to give you a start on your journey.
The Property Managers Sydney
23 Myrtle St,
North Sydney NSW 2060,
+61 2 9956 7511
Dynamic Property Services
Level 25/66 Goulburn St,
Sydney NSW 2000,
+61 2 9267 6334
Whelan Property Group
277 Pyrmont St,
Ultimo NSW 2007,
+61 2 9219 4111
Property Management Companies in Melbourne
Property Managers Melb
Level 27/101 Collins St,
Melbourne VIC 3000,
+61 3 9221 6133
Hera Property Management
Suite 1103 Level 11/343 Little Collins St,
Melbourne VIC 3000
+61 3 8508 8185
Pathway Asset Management
Suite 2/30 Collins St,
Melbourne VIC 3000,
+61 3 8539 0310
Brisbane Property Management Companies
Real Estate Rentals – Property Management Brisbane
82 Vulture St, West End QLD 4101,
+61 7 3846 6009
Hot Property Management
7/5 Zillman Rd, Hendra QLD 4011,
+61 7 3170 3760
Property Management Companies in Perth
Rental Management Australia South Perth
Level 1/7 Lyall St,
South Perth WA 6151, Australia
+61 8 9269 6100
Perth Management Services
567 Newcastle St,
West Perth WA 6005
+61 8 9212 9999
1050 Hay St,
West Perth WA 6005,
+61 8 9429 5777
Learn more about the business of property management:
See also: Property Management Software Australia | Melbourne Property Management | Housing Market Sydney | Australia Property Market 2022 | UK Property Market | How Corona Virus is Changing Business | HOA Management Software | Property Management Business | Best Property Management Software | Property Management Company Growth