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Unethical Property Managers

Discussion in 'Property Management' started by Ald, 23rd Nov, 2016.

  1. 733

    733 Well-Known Member

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    18th Jun, 2015
    Posts:
    571
    Location:
    Brisbane


    Ethics is a very complex discussion topic - at the end of the day, I deal with many agents and to date have found 9 out of 10 positive to deal with even when business is moving from another agency to our agency. Accordingly, there is value to not stereotype and assume all agents are 'unethical' and 'sharks'.

    At the end of the day, from a personal perspective, an ethical framework to support informed and respectful decision making can be distilled to:

    (1) not engaging in client/employee poaching behaviours - encouraging people to initially work things out and communicate with their PMs to achieve win-win resolutions - in the event that the individual chooses to no longer work for resolution and/or communication fails and business moves the ethical agent knows that they did not participate in poaching behaviours - likewise, not poaching staff from other agencies - rather focusing upon building a positive agency culture and flexible workplace practices etc (trade restraint and confidentiality matters)

    (2) working everyday as though the person you respect the most is watching you

    (3) being transparent in everything you do - it may take longer to achieve an outcome but hide nothing

    (4) not engaging in defamatory behaviours toward others or business competition - work from a position of mutual respect role modeled through your conversation and behaviours

    (5) managing client expectations upfront and ongoing - listen to what the customer wants and work to deliver the outcome; provide customers with evidence based facts to make informed decisions i.e. not engage in 'buying listings' behaviours where individuals are subsequently required to be conditioned down to the true market value of a property

    (6) actions being congruent with what one says and promise - 'do as I say'

    (7) learning from one's mistakes with a solutions-mindset - putting in place long term solutions

    (8) working to improve your business everyday with the 'voice of the customer' at the forefront of your mindset

    and

    (9) acknowledging being human - being real, not perfect, however always working with a commitment to learn from past experiences and be proud of your behaviour every day

    Advantages of Good Business Ethics:

    12 Ethical principles for business to inform decision making:
    12 Ethical Principles for Business Executives - Josephson Business Ethics

    The Importance and Advantages of Good Business Ethics
     
    Last edited: 2nd Jan, 2017
    Perthguy likes this.
  2. Emble

    Emble Member

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    9th Jan, 2017
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    Location:
    Perth
    It actually is better to have, as a tenant, a listed house over a long time because it gets a lot of exposure during the months before you consider moving. People either have been waiting for others to sell vacant properties in areas with low tenancy rates or had any number of priorities that are most satisfied by them having housing already. Why would you rush in a bad market when you can have a little scroll of the internet offerings periodically and know you have the bargaining edge for your wants.

    Property managers are responsible for many many residences, particularly before the boom, and client expectations as a landlord are clearly extremely high of how the property manager should prioritise tenancies that suit the landlord at the time for investment properties. I am hopeful that this little housing "crash" will provide property managers with an ability to be better reourced to handle landlord and tenant agreement issues. They are basically contract negotiatior/facilitators with the added fun of organising tradies for god knows what. If owners knew about half the things they are legally liable for by letting someone stay on their property with the minimum standard tenancy rights , they might consider a tenantless house best. I feel like PM have become the HR of tenancy/landord agreements - despised even though they aren't doing anything specifically wrong.

    f you are an owner consider 4 month with option to extend beyond for tenants rather than a minimum 12 month agreement with fixed costs and the necessity for break lease payments. Inclusive of at least one utility bill is also very attractive. Lower prices to what can be feasibly managed within a month or two of vacancy and advertisement. And if a tenant becomes unhappy, so whatever you can to make your property worth staying in for more than 21 days within reason. And do what your consumer law says all people have to as people with tenants.


    In reference to the OPs post - the property manager may have been restructured, but how do you know the owner? The property manager made a counter offer for you permitted by the landlord. You made a counter offer that exstinguised the while deal and left no necessity for further communication. She likely had been instructed to make an offer to the other applicant if you rejected her offer. After all, you were based in another State :)
    So the necessary applicable bits and bobs becomes more iffy. I don't think you were screwed over. Maybe too hard though!

    Property managers cannot touch real estate sales or trusts related to it. They can only manage special rental accounts. . The agent would get nothing. Every so often she would still get nothing. Regardless, if you want to haggle go directly to the landlord making an offer :)
     
  3. Angel

    Angel Well-Known Member

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    Paradise, Brisbane
    "This is something that must change immediately or the country will fail "

    I thought the country will fail unless we abolish negative gearing????
     
    Perthguy likes this.
  4. Stimpy

    Stimpy Member

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    24th Jun, 2015
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    Location:
    NSW
    o_O

    What a ridiculous thread.

    Can we have a crappy tenant and a crappy landlord thread as well please..... :rolleyes:
     
    Perthguy likes this.
  5. Perthguy

    Perthguy Well-Known Member

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    Perth
    Feel free to start them. I have many stories to share.

    Speaking of which, why don't we have a "Great Property Managers" thread or a "Great Tenants" thread?

    My last property manager did a great job finding me a tenant and my new tenant is amazing! :)

    and I am a great landlord (in my opinion) ;)
     
    Debbie_ and samiam like this.
  6. Stimpy

    Stimpy Member

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    Location:
    NSW
    So do I but sadly my ethical nature stops me bagging out stupid people..... :D
     
  7. cd83

    cd83 New Member

    Joined:
    23rd Jun, 2015
    Posts:
    1
    Location:
    Adelaide
    Gday Perth Guy, any chance could get details on ur prop manager?

    Cheers
     
  8. Debbie_

    Debbie_ Member

    Joined:
    28th Jul, 2017
    Posts:
    5
    Location:
    QLD

    I really liked your post. You seem like a realistic and great owner to work with. I was really interested in how the change costs money?

    And when it comes to micro managing, it's really hard to fit in with everyone's different personality types.... so like to be rather hands on and others like to forget there is even an investment property.... then you have every animal inbetween! But I get what you're saying.
     
    Tom Rivera likes this.