Scenario

You are the senior property manager in a medium size agency in an inner city location. The agency is continuing to grow and you need a number of new staff for the property management department. As part of the induction process, you have been asked to conduct a question and answer session for the new staff. The Principal has asked you to provide information, advice and guidance to these new staff around business development, best practice in property management, legislative requirements and trust accounting based on the questions he has provided below.

Question 1

Discuss three (3) opportunities you could focus on to build a rent roll.

Question 2

Identify two (2) ways to increase your agency's exposure in your area and attract listings of properties for lease.

Question 3

What forms of advertising would you use to attract tenants?

Question 4

Where would you find copies of legislation in the office?

Question 5

In accordance with relevant legislation and agency practice, explain how will you would handle an enquiry from an overseas tenant with a lack of English who is interested in renting a property. In particular:

(i) What legislation will you need to be aware of?

(ii) What information and documents will you need to discuss with this tenant before submitting the application to your landlord?

Question 6

If the landlord has rejected a tenancy application and wants you to remarket the property stating

that s/he only wants single persons (no families):

(i) How will you respond to this request?

(ii) What methods will you use to market the property again?

Question 7

In renting out a property, what legislation does a landlord need to be aware of (include in your answer what legislation protects the landlord as a consumer)?

Question 8

What are the advantages of the agency conducting open homes instead of separate appointments for tenants to view properties for lease?

Question 9

How would you ensure that a leased property has minimum down time between tenancies?

Question 10

When taking a potential tenant to inspect a property, what needs to be done before the inspection if there is another tenant currently living in this property?

Answer:

1). Rent roll is the register for names of tenants and their receptive monthly rent paid or list of properties managed by an argent. To expand the rent roll as manger of property agency , the following opportunities can be focused on.

i) Use on social media; the target market for rental houses are young youth who have just stared a job after graduating from colleges. one of their main characteristics is the intense use of social media such as face book and tweeter. The effective way therefore is to run a account on such platform and exhibit the houses under the management of the agency and also conduct environmental issues that are pertinent in rental house such as use of fire extinguisher.

ii) Participating in the community developments;

As an effective way of wining trust from the customers, working together ad supporting community projects such as cleaning the street and sewer lines gives the property agency opportunity to advertise its expertise in property management.

iii) Use of incentive to employees; the agency can develop reward policy for the employees to improve their morale in search and recruitment of new client. some of the policy are paying commission for every new clients recruited. or a warding the employees on monthly or yearly performance.

2).

online advertisement and attending auction events are some of the best platforms to meet Land lord ;

online advertisement include -classifieds adds which can be posted on social media such as Facebook building and property groups . The agency can also develop user friendly web page for both landlord, tenants and buyers.

another strategic platform to meet new landlords is at the Auction meetings where marketing officers can seek business appointment with the landlords

3). The effective way to get a wider coverage of the tenants is through distribution of brochures in residential areas or bus station for residential Estates where majority are tenants.

Another way is to buy space on billboards which are strategically located towards the estate that the the agency is managing.

4). The copies of property management can be obtain from various government agencies.

5). When renting property to oversea tenants , it is advisable for the agency to be a ware of laws that regulate renting property foreign tenants .

6). Explain to the clients about the agency contract terms with with landlord and re assure the client of serving him/her best next time.

7). Residential and Tenancy Acts for a given country. And the situation in which landlord is a consumer the contract law of property agency Can be applied.

8). Open home appointments is efficient because individual are most likely influenced by choices that other people make hence, there is high probability of finding marginal increase of number of tenants. while separate appointment is costly and and cause the move-in time.

9). Renovate the house by replacing any faulty structure and then use a poster to advertise for the vacant room in readiness for occupation.

10). It is not ethical to take a potential tenants to the house which is still occupied by another tenants for any purpose, unless the tenants has given out a notice for moving out , hence forth permission shall be requested from the current tenant.