Find out what one of our lovely owners thinks of us!
How To Keep Our Property Owners Happy…
You know that it is really important as a property owner to have the right level of communication with your property manager. This information sheet sets out some of our policies and procedures for regular communications with you – so that you know exactly what to expect. And the only surprises that we ever want to deliver are the pleasant ones!
Property Owners Number One Concern
The Number one concern raised by owners who completed surveys in the property management industry is the lack of communication from their property manager.
Almost every owner who switches to Coral Sea mentions the failure of their previous manager to promptly return calls or emails high on the list of frustrations.
At Coral Sea we understand keeping you informed about EVERYTHING related to your investment is one of our most important tasks. We make communication with our owners a daily priority, and this information clearly sets our what you can expect from us.
Important Thing #1 – No Excuses or “Hiding” from us.
We don’t believe in making excuses or hiding behind someone else.
It is our responsibility to keep you informed.
We will try ALL available numbers not just once but multiple times. If you are unavailable we will leave a message, we will also send an email.
In the event you are “truly” unavailable (as sometimes happens) we will make a decision on your behalf and send an email to let you know. We will NOT leave you out in the cold wondering what is happening with your property.
This doesn’t mean we will call you every time a tap washer needs changing or a lease requires renewing and the like – unless these are your instructions (If this is the case you may want to consider what you are paying your manger for)
You have employed us to manage your property and we are very happy to make any and all decisions on your behalf in line with your instructions but we will KEEP YOU INFORMED. This is part of our commitment to you.
Important Thing #2 – The “Right” Level of Contact With You!
On Top of our normal day to day communications here is a summary of our extra owner contacts and methods.
- General email/phone call policy
All phone calls and emails will be returned within 24 Hours, we guarantee it.
If we don’t return your call or email within 1 business day, let us know and we will refund your month’s management fee no questions asked.
As a matter of common courtesy we endeavour to return ALL phone calls and email by the close of business each day,
- Vacant Property Monday and Friday Love – Keeps You In The Loop!
We understand that when your property is vacant you are under pressure. The bank does not wait for their mortgage payment just because your property is vacant. Most agencies choose now as the time to stop calling you. They are aware you will be anxious and are afraid to talk to you when you need it most!
We know this is when we must communicate together even more than normal so we can work together to ensure we get your property re let as fast as possible.
You need to know exactly what is happening in the market place so we can adjust quickly and ensure we keep your losses to the absolute minimum.
Whenever your property is vacant we will communicate with you via telephone or email every Monday and Friday until your property is re let.
We call these contacts “Love calls” or “Love taps”. They are designed to ensure you are kept fully informed of all market activity and feedback from our advertising on your property.
- Newsletters – News, Our Performance Statistics Plus Fun..
Every month we publish our Owners and Tenants Newsletters. This helps keep you up to date with any developments within the industry as well as fully informed on any new Legislation, current maintenance offers and the like.
The newsletter also contains our monthly statistics including Vacancy Rates and Arrears Rates in both our owner and tenant newsletters.
- Routine Inspections – Designed for Performance
Whenever a routine inspection is carried out you will receive a short email summary of the inspection. The inspection will be graded from “A” (Excellent) to “D” (Unacceptable) along with notes of small items that may require future action.
The e-mail will also contain a private link to your page on our website where all photos from the inspection have been published. Photos always give you a more “real” idea of the state of your property than any tick and flick style report.
If there have been any major concerns that require action discovered during your inspection you will be contacted by your property manager.
Special Note about Routine Inspections
Please be aware, a routine inspection is a 15-20 minute overview designed to ensure the property being well looked after by your current tenant. IT IS NOT A FULL MAINTENANCE AUDIT and it is not designed to pick up any and all maintenance that may be required.
Our maintenance team offers an annual full maintenance audit. Please contact the office for more information.
- Success contacts – Your Regular Dose of Good News
We keep our owners informed Via email whenever we reach our daily goals of !00% of your properties full (Yahoo!)and 100% of your tenants rent up to date ( Wahoo!). It lets you know that we understand what is important to you and lets us all share in the success.
- Statements (And Online Agent)
Statements are issued monthly and these also include your unique customer number for online agent (INSERT LINK HERE) as well as any notes relating specifically to your property.
- Maintenance – Even MORE Love!
Subject to your instructions our maintenance team will contact you (Phone & email) whenever maintenance is required on your property and keep you informed of all maintenance progress.
In most cases, once we have built a relationship, many of our owners prefer not to be contacted and authorise us to carry out all necessary maintenance on their behalf.
This DOES NOT mean we will not keep you informed.
NOTE: Whenever we deduct funds from your account for any reason we will contact you in line with your instructions (phone or email) to let you know the amount that will be deducted. This helps ensure you do not get any nasty surprises!
- Maintenance Offers – Designed To Increase Your Property Returns In The Long Term
We have organised special offers with several local suppliers for our Coral Sea Owners.
These include things like Air conditioning annual services and pest inspection. These offers will be sent out to you via email and also included in your Owners Newsletter.
- New Leases and Renewals
Whenever we lease or renew the lease on your property you will be informed. You will receive a phone call with details of the new lease, any rental increase and any other pertinent information. (And so we can tell you how fast we rented your property!)
We will also let you know the amounts of any advertising, let fee and any other deductions that will be coming out of your account to help avoid any nasty surprises.
And – you will receive a fully signed copy of your new lease for your records.
Important Thing #3 – Our Mission Is To Manage Your Property Like We Own it..
Well, this part of the list may sound a little “corny”, and maybe it is – but by having a guiding rule like this for managing your property we are able to do a consistently better job for you.
This rule means that we consider all aspects of property management. Obviously this includes maximising your returns in the short, medium and long term – but it also means protecting you from any potential downsides.
It means we consider “strategic” issues like ensuring that leases come up for renewal in months when there is traditionally greater demand so that both vacancies are minimised, and rent increases are more likely because of the competition.
It means that we take a crisis in your property personally. It is not ok to have vacancies or arrears or for tenants to be out of lease.
And we like to have great tenants in our (sorry – YOUR!) properties. So we take extra care in selection. You get the idea.
Thank you for reading this long article. Our relationship with our owners is based on everyone knowing what to expect, and what our roles are. We have learned that regular, responsible communication is the basis of trust, and trust is the basis of a great relationship.
Thank you for being one of our great Owners.
Shaun & The Team at Coral Sea Property Managers
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