Property investors are buying fewer properties therefore there is less new rental stock in the market. While this will be pleasing the orchestrators of the recent LVR rule changes competition among property managers is now much tighter.
The property managers with a solid position and whom focus primarily on their existing customers first and foremost should ride out any adjustment in the industry and prosper going forward. While the property management companies in their infancy i.e. heavily reliant on growth will need good capital reserves and a point of difference to grow.
The property management firms with unsatisfactory service, practices and systems will lose business when Landlords review their position some firms will fold. An Auckland property management company spokesperson said the tide is on it’s way out and any business failing to meet the expectations of their landlord clients will be exposed.
The spokesperson went on to say: “we’ve been in business for many years and we know how important customer service is in our industry. Our job is to improve our business and the industry as a whole. We believe that while you can not please everyone all the time we definitely aim to do so and striving for perfection is actually working for us.”
“Only when the tide goes out do you discover who’s been
The quote from Warren Buffet is a timely reminder that we all should only invest (time, money etc) in businesses we know about, understand, believe in and trust.
This blog article was written for PropertyBlogs by Mobilize Mail.