Our Property Management Department has now been fully operational for almost two years. In that time, we’ve grown from absolutely zero to a more than considerable number of properties under management, on behalf of Investor Direct clients.
While I’m very proud of the level of service our team is providing it has become increasingly obvious to us that a large percentage of our landlords are extremely unhappy with the level of service they receive from their Owners Corporation Managers – the ‘other side’ of investment property management.
As you may know, an Owners Corporation (formerly known as a Body Corporate), manages the “common property” of blocks of units, apartments, etc which can include gardens, passages, walls, stairwells, pathways, driveways, lifts, foyers, fences and so on. How well or poorly the Owners Corporation manages these areas can also impact on and interfere with other efforts by the landlords and their Property Managers to deal with problems and issues effectively.
In order to bring a new level of service to this often neglected area, I’m pleased to say that Investors Direct Property Management has made application to the Business Licensing Authority (B.L.A.) to register I.D.P.M. as an Owners Corporation. This is an exciting step for us and one we haven’t taken lightly. After considerable thought and discussion with our Directors, we are now ready to handle this side of property management as well as the full range of services we currently provide.
I’m sure every investment property owner will agree that the management of common areas in unit or townhouse developments is a very important part of owning investment property. As we’ll now be able to provide both sides of the management process, things should run much more smoothly than previously, once we are able to take on the Owners Corporation management.
From our side of things, this change will definitely be a much better option, as we’ll be fully aware of any problems that our tenants may be experiencing at a body corporate level. We’ll certainly then be able to make sure our clients’ property is appropriately cared for – on both levels.
So that we’re fully prepared to deliver this new area of service, both Kylie and I have attended Owners Corporation training at the R.E.I.V. The Owners Corporation will be incorporated into the Property Management Department, with Kylie fully responsible for that division.
As Property Managers we necessarily have had to become involved in a number of issues that we may feel haven’t been dealt with appropriately in some of our developments. This can be very frustrating to us as we are virtually unable to control the outcomes. That can be just as frustrating for our tenants and certainly our property owners.
Now when we are able to take over the Owners Corporation in our developments, we won’t have to be in the position where we have to virtually sit on the side lines and do nothing! We will be able to handle issues ourselves – property management and owners corporation management – and to us that’s an ideal arrangement.
I.D. Owners Corporation is almost a reality!! Should you have any questions relating to this exciting new chapter in our growth, please do not hesitate to call either Kylie or me, as we’ll be very happy to speak with you. kylie@investorsdirect.com.au or 0408 762 946 and jan@investorsdirect.com.au or 0408 769 053.