Our job is to make things as smooth as possible for both the landlord and tenant. However, occasionally things go wrong… and it matters! For the tenant, it's that broken tap, or stove not working as it should. Things that could easily be seen as trivial concerns, does in fact impact on the tenant's living experience and may be the source of something bigger for the landlord. As a landlord, you may also be exposed to a tenant who is behind in their rent or receive a phone call about a burst hot water system that you weren't expecting.
Residential property management is a far cry from commercial—with the only real similarity being bricks and mortar.
From my time with AMP Capital in Sydney, commercial real estate was about negotiating the best deal and reducing vacancy risk for clients. With the big clients, the rent is paid every month in advance like clockwork and lease breaks are virtually unheard of. Lease terms are upwards of three years and the tenants are usually responsible for any general maintenance during the term of the lease with a 'make good' as a key requirement at the end. Commercial spaces are used during work hours and the emotional connection, like you see in residential, is rare.
By contrast in residential, tenants 'come home' to the properties we manage and there is generally a sense of pride and ownership in the home, despite all the sensational stories in the media. It's their home, their sanctuary… so the stakes are high. Tenants want things to work, and we get it. Over the span of Toop&Toop's 28 years, we have developed a trusted group of suppliers to provide a quick, competitive and reliable service to our clients. We have Preferred and Approved supplier agreements in place that require KPIs to be met, including timeframes for completion and guarantee of work—ultimately helping both our landlords and tenants.
So why would we be in this emotional game? Because, we genuinely love what we do! We enjoy working with people in their day-to-day lives and helping solve problems for both landlords and tenants.
We understand that being a landlord can often be an emotional ride and that in life things don't always go to plan. We're here to give you piece of mind and help get you the best outcome we can when the unexpected happens. But we're only human. We are not professing to have a magic wand, but we are set up with key initiatives in place to provide industry best service, minimise risk and create great investment experiences.
If you are keen to find out more about our team and what we offer, please give me a call on 0413 594 285. At Toop&Toop, we know the little things do count.