Ever dreamt of constructing an unbeatable property management team? You will love this chat we had with Kasey Lawrence from the Rental Network, where we unlock the secrets to assembling a top-tier team. This episode hinges on the backbone of a strong, inspiring leadership that paves the way for a unified and proficient group. Our discussion seeds the idea of how a department head with a solid background in property management can sow trust, mentorship, and a guiding light - making them indispensable for a triumphant team assembly.
In this insightful tête-à-tête, we talk about the significance of re-inducting employees, and how it can be a game-changer in enhancing team dynamics. We also throw light on how virtual assistants can be the secret weapon for property managers and how an efficiently structured department can boost productivity. Adding more fuel to the fire, we highlight the necessity of a third-party support system, the formulation of a gap plan, and the advantages of an organized, supervised, and trained rental department.
We hope you enjoy this conversation with how to create a Property Management Powerhouse in your business with hands-on advice for everyone involved - an episode truly not to be missed!
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Ever dreamt of constructing an unbeatable property management team? You will love this chat we had with Kasey Lawrence from the Rental Network, where we unlock the secrets to assembling a top-tier team. This episode hinges on the backbone of a strong, inspiring leadership that paves the way for a unified and proficient group. Our discussion seeds the idea of how a department head with a solid background in property management can sow trust, mentorship, and a guiding light - making them indispensable for a triumphant team assembly.
In this insightful tête-à-tête, we talk about the significance of re-inducting employees, and how it can be a game-changer in enhancing team dynamics. We also throw light on how virtual assistants can be the secret weapon for property managers and how an efficiently structured department can boost productivity. Adding more fuel to the fire, we highlight the necessity of a third-party support system, the formulation of a gap plan, and the advantages of an organized, supervised, and trained rental department.
We hope you enjoy this conversation with how to create a Property Management Powerhouse in your business with hands-on advice for everyone involved - an episode truly not to be missed!
The PIP Advantage for Landlord Insurance
Up to $70,000 contents cover included in our landlords policies
14 months cover for just 12 months premium in your first year
Further discounts when you have three or more properties insured through PIP
24/7 Australia-wide claims service
Online Real Estate Agent Portal for easy access and management
Visit their website
Keep your property managers doing what they love and outsource the things they don’t to a company that thrives on positive feedback and guarantees a premium personalised service
www.propertyassistwa.com.au
This weeks sponsor is On Tap Plumbing & Gas - 24/7 Plumbing servicing all of Perth from Mandurah to Two Rocks.
www.ontapplumbinggas.com.au
6206 6888
Welcome to the PM Collective, a dynamic hub designed to empower business owners, property managers and BDMs to excel in their careers Through access to intimate conversations, cutting edge of video training, mental health support and unparalleled motivation. Our community is the ultimate destination for individuals seeking to elevate their professional lives to new heights. So sit back, relax and enjoy our next conversation on our weekly podcast, the Art of Property Management. Today, we have a repeat guest on the podcast and it is Casey Lawrence from the Rental Network.
Speaker 1:Casey, thank you for joining me again. Thank you for having me. So we are going to be talking about powerhouse property management teams, and I think this is a topic that you had come to me with and I think it's a great one, because there are a lot of people, I think, in property management roles and you sort of you don't know whether you're in a great team or not so good team, and you know when you get property managers that haven't moved around and you sort of are like, well, is my team good, or you know you have to improve and things like that.
Speaker 1:So I guess what I wanted to go through with you because you get to see with your consulting so many real estate property management teams, like what do you see? Like what sort of powerhouse teams are you seeing and what does that look like in the office?
Speaker 2:Yeah. So I think well, first of all, the leadership. I think it definitely starts from strong leadership and supportive leadership, absolutely, and then that just flows down through to the team, so having a team that is cohesive, trained well and supported well and in healthy competition with one another to support and lift one another up. So I think that the culture comes down to the culture, system, structure, leadership and support, the foundations for a powerhouse team, to begin with, for sure.
Speaker 1:Can we talk about the leadership to start off with, because there is a lot of different options that departments are run with. So are you seeing any trends, I guess, when it comes to the leadership? Because I guess the first option is that you might have like a sales, a selling principle, and they may or may not have a head of department, and then you've got 100% direct, direct property management, focus business owner. I guess, like where I'm getting at is that? Is there any like a perfect sort of leadership role? Because I have this thing about horizontal management and vertical management and I personally don't like seeing too many layers of management, but then I also haven't been in an office that's had that, so I don't know whether that's something that works really well or doesn't Like. What are you seeing out there in the businesses?
Speaker 2:I think from my personal perspective, before I was in the consulting and training space, I was a head of department for a very big property management team here in Melbourne and the directors that were involved with that board the directors of the business gave me the trust and power to run that department and to run it well, and that, I think, is one of the keys that made it so successful and made the team so powerful is because there was the one leader.
Speaker 2:There was no undermining, overriding, there was mutual trust there from both sides and I was given that trust to be able to build a team that thrived and that I could solely nurture and train and mentor and steer in the direction that they needed to go to be a powerhouse team.
Speaker 2:So I think if the directors are going to appoint a department head, choosing well is the first thing, but second of all, giving them the trust that they need and, I suppose, space that they need to be able to do what they need to do within that department to make it successful and to make it be able to thrive. I think that the most successful or, I guess, happier rental departments is when there is support at the top who is property management based. I'm not going to sugarcoat it and say it any other way. I think that's what I've seen out there from experience, what I do now in consulting, having a leader at the top, there's someone that the property managers can go to for support when they get into trouble or they don't quite know what to do or where to go. There's someone there with experience that they can turn to to give them the right answers.
Speaker 1:So the win with the head of department and I love that you said that having that full control and room to grow. I guess that is absolutely necessary. Do you find that, or do you see, like property management, directors that get ahead of department, or do you find that it's generally the sales selling principles that get the head of department?
Speaker 2:The property management principles.
Speaker 1:Yeah, like someone who owns the real estate business that has a property management background like myself.
Speaker 2:Yeah.
Speaker 1:Are they more likely to get ahead?
Speaker 2:of department no, no, yeah, it's the sales principles, yeah.
Speaker 1:Yeah, okay and I like that because that's one of my things that everyone knows that I have a slight little issue sometimes with selling principles, but only from the point of view that they are just not really that interested in the property management department, but they're also quick to blame property management when there's any problems. So I'm very much of that if you don't have an interest in the property management department or don't understand it, just get somebody else in that direction? Absolutely.
Speaker 2:Yeah, that's fine, 100%. Yeah, I think that's probably one of the biggest frustrations from property managers when the person that they have to turn to has never done property management and there's no disrespect meant there at all. It's just that they don't have confidence in the answers they're going to be given for when they're seeking support. So I think having someone that is the leader of the team, who has a strong background in property management, who is relatable, who is a good leader, leads by example, gives trust, takes opinions from others, creates a good leader and someone that the team can look up to and be confident in seeking support from.
Speaker 1:Yeah, perfect. So that is tip one on how to have a powerhouse property management team. That is, either have a head of department who loves property management or be a business owner that loves property management so the property managers can go to to get the answers that they need. So that is something definitely for teams to consider whether they've got in their office or not. So let's go to the stars of the show, which are actually the property managers. And what does a powerhouse team look like? What are some good examples and some bad examples you've seen in teams that you see?
Speaker 2:Yeah, okay, on the spot. Bad examples, I think, would be every man for themselves. A team, a department cannot run successfully when everyone's in it for themselves. You need to have support in your colleagues if you were to fall ill or you've accidentally double booked, or you need help from your colleagues for an answer for something that you don't know, or you want them to check over an email to make sure it's okay. You need to have confidence in those people around you that they've got your back just as much as you've got theirs. And I think that is what makes a thriving department, when you are all so cohesively entwined in what you do and supportive of one another is the difference between the two teams the ones that don't thrive and the ones that do is the trust and support that you have in one another.
Speaker 1:And do you find that, whether it's portfolio based or task based, it's still possible to do that? Even if it's just yeah, the person has their own portfolio.
Speaker 2:Yeah, yeah, absolutely. If it's task based, it is trickier to find that cohesiveness because you've got to have, I guess, that additional trust in one another that those specific tasks with relation to your clients are going to get done. So that then would come down to leadership matching teams together who can I guess a similar in personality, who were similar in work styles as well. So there's no conflict in amongst the team there too. So and then if it's portfolio based, with a little bit of office support same thing like just having that team that you know that you can rely on them to do your leasing or your inspections well and thoroughly as well that's not going to leave you open to any kind of conflict or liability with your clients.
Speaker 1:So I right now have a very I would say they're a powerhouse team. They really are good and this week, with half of them being sick and half of them not, I find that they are very good in that they just email each other. Still feeling sick today, still feeling sick today. Can anyone help me with this inspection or that inspection? So that's really really good for them. But there was a time where, because we're portfolio based, there was a time where there were some workers who are no longer with me where they just like doing their own portfolio.
Speaker 2:That wants to be on the floor.
Speaker 1:Everyone else was fine except for them. So what's the advice would you have for, maybe, a business owner or department manager, when you've got a person who is a bit like that. You just let them do their own thing and just worry about everyone else, or do you try and force?
Speaker 2:them. Yeah, I think it's educating in the onboarding or interview process that this is how our team works and there's the expectations that we would have with someone coming into our team. So if you can try and outlay that from the start so they're aware of the expectations of them to work in with the team, it's not necessarily they're going to have to do everyone else's work, but there should be an expectation there that if someone needs help or fall sick, that other people will be there to pick it up for them. If they're already in the team. And that's how they're working and you're struggling with, I guess, getting them to assist a little bit. I think you know putting them in, getting them to put themselves in their shoes. If they were away or needed the help, you know they've got the others there supporting them as well. So it's got to go both ways and, I think, just trying to manage that as best as possible.
Speaker 2:Some officers I've even seen have a buddy system. So you're matching a couple of people up with similar personalities and work types and they're the only two people that pick up each other's work. So rather than having a whole team, then you've always got the. If you've got a whole team and it's you know, can anyone help with this? You've always got the same two people putting their hand up and the same two people stepping back and never putting their hand up. So I think you know a dedicated little pod or buddy system is probably the best way to get around that when you do have people falling sick or on leave.
Speaker 1:Yeah, I was just going to say that with the buddy system, I think that's how I end up managing it, because the people that we're complaining and I say this because I know there's people listening that are in this situation now You've got someone complaining, you know that person never jumps in to help. Then I would just buddy that person up that's worried about it with someone else and then just say listen, you guys work together as your team, don't worry about this one. Yeah, manage that. But what's actually frustrating and again I mention it because there'll be people listening that go oh my God, that's exactly what happens in our office Is that that person who is a little bit insular, likes to just work on their own, doesn't like to venture out and help anyone else. It's funny that when they're sick or they're on leave, they still expect people to help. Oh, 100%. Yeah, I don't understand. I don't think they understand. Yeah, it's insane. Yeah.
Speaker 2:But I definitely think personality matching and work matching is a good way to try and manage that.
Speaker 1:Yeah, yeah, absolutely I, yeah. I think it's one of those things that you sort of don't know when you don't know what you don't know. So when people come in for an interview, you sort of don't think to even ask yeah, and I find it's fine as well that in interviews, of course, people are going to say, yeah, I'm a team player, but you actually never truly know until they start working.
Speaker 2:No, no, that's right, but it will soon rear its ugly head. There's no hiding it. So then you, like you know, manage it quickly as soon as it does come to light and, yeah, deal with it as you will. But I think if you've got kind of the same standard questions that you do go through in an interview process as well as like your ad hoc ones as well, but then you know that you've always covered the same thing. So if someone comes on board, it's never the. Oh, I didn't know that. Oh, you didn't mention that because you know you've always gone through it in your interview process.
Speaker 1:Yeah, the other thing is that just came to my mind and I don't know whether you have any sort of thoughts or comments on it, but when it comes to people that you know someone's sick or someone's on leave and you need to get other people to help, Is there any rule that you find like with asking for the help? Should that come from the colleague that's going on leave or should it come from ahead of department or a business owner to Coordinate that like? Are you seeing some of any trends with what?
Speaker 2:Yeah, I think I've seen both and I've seen both work and it purely depends on the team. Like if you've got that team that is very much team-orientated and they will help each other, it can successfully come from the property manager to the team because they know that it they'll get the help. I think it needs to come from the department head or the director if there is that pushback or People don't put their hands up, and needs to come from someone a little bit higher.
Speaker 1:Yeah, and I just started introducing a system in our office with staff using work metrics and I guess, with this, and what we're talking about is having though at induction and when you first employ somebody, having those Discussions about how we help each other, etc in the office. But I find that as time goes along, we need a little refresher and your team needs a little refresher on those rules and how we work together and what People are. Only so I've started creating some videos and it was another office where I learned this and it was about Re-inducting people. You know whether it's every three months or six months or 12 months, and it could be something that people could do if they find that they're having a couple of struggles with this type of behavior In the office and it is affecting other people, maybe doing a re-induction the team and having a video where everyone has to watch just as that reminder, because we can get quite complacent.
Speaker 2:Yeah, 100%. Yeah. I love that, especially if you've got long-term staff that have been there for a while. You've got a couple of newies coming in. It's good to get everyone back on the same page with something like that.
Speaker 1:That's exactly what's happening in my office at the moment. I've got a long-term team of new people coming in, so it's like everyone needs a little refresher.
Speaker 2:Yeah, 100%. I think that's a good idea.
Speaker 1:And it says teams change because you might. If you're a business owner listening, you might be an office that only had two people and now you've got six people. So it is different.
Speaker 2:Different structures work for different people. Yeah, you've got to do some tweaking.
Speaker 1:Yeah, absolutely so. Powerhouse teams, who've spoken about how we have the head of department or the property management business leader, we've got the team that supports each other and does work very interactively to get the job done. So you know, I guess, understanding that we've all got. You know the role is to have happy landlords, happy tenants, and working towards that goal Doesn't necessarily doesn't who doesn't do it, just get the job done. Are there any positions that you see in in Powerhouse property management teams that work really well or that maybe are they a bit left of center, like do they have a marketing person? Or you know a specified BBM, like anything that you see that you think is pretty cool?
Speaker 2:Not too much away from the ordinary. Like you know, there's a lot of VA's on board now and I think that would probably be one of the biggest trends that I am seeing. The VA is so and I think that's super important to be utilizing Support staff to do the admin tasks so the focus with the property managers can be on the clients, which is where the business comes from. So, you know, getting your property managers more client based and faced out in front of the clients, spending more time talking to the clients, you know, maybe going for a coffee, nurturing those relationships to be able to build the business and the portfolio. And that comes with strong support in the back end as well. Whether it be your trust accountant, your admin assistant, your leasing support virtual assistants. I think they all form a part of a Powerhouse team. Absolutely, because then the property managers can solely focus on their clients.
Speaker 1:Now I've asked you a really tricky question. Sorry, I'm putting on the spot with a few today. Is there a possibility and this is going to be a real personal opinion- yeah, it's possible to have a Powerhouse property management team with less I don't want to say less people, because that's wrong Less in-person property managers and more VAs? Like with the ratio, or do you really believe that it needs to be an even number or less?
Speaker 2:VAs? I don't I think there can be for sure. I think the better. I'll just dissect it a little bit. The department being structured well is the first thing, like, obviously the leadership as well. Strong leadership, good structure and systems will allow the property managers to manage more properties because they've also got that support in the back end. So they've got support doing admin tasks, inspections, leasing, trust, accounting, obviously. But the more support they get with the back end stuff and, I guess, the out of office stuff, the more they can physically manage portfolio wise. So yeah, I definitely think some officers I know that I work with managing over 200 properties and doing it well per property manager, but there's a lot of foundations that are laid underneath that to allow them to be able to manage numbers like that.
Speaker 1:Yeah, that's like music to my ears because that's one thing that I really want to see improve and people think it's a negative looking after more properties. But it's not about that. I always say it's not about the number of properties someone's managing. Are those other stuff members happy and doing it within a reasonable amount of hours?
Speaker 2:and client experiencing a really great search and how many times do you get asked a question? Or see the question asked to how many properties should a property manager manage? And it's just not a one number fits all it's. So there's so many variables to that question and I think it is a very old school mentality, like back in our day when we first started. Managing 200 was hard because you didn't have all of that support that there is now in terms of your inspection managers, your VA's, your admin support. It literally was end to end and you cannot do end to end on those numbers. So for a director that's listening, thinking you can get your property managers to do 200 end to end, it's not a thing, it doesn't work. It will not work well. The only people that will suffer there will be your clients and your property managers. But yeah, if you've got your department structured well, absolutely you can manage those higher numbers.
Speaker 1:It's. When I get investors call me up and ask me that question, my response is do you even know what the right answer is? Like you asked you a question, but what do you want from me? It's very wanting, that's right. So I mean I would rather than ask as a as an overall team, like, for example, instead of saying how many properties does that one person manage, yeah, of asking how many properties does your office manage and how many in the department?
Speaker 2:support.
Speaker 1:Yeah, by the time you add on a VA, a BDM, a trust accountant, a trainer, an assistant, by the time you add everybody into that equation, it actually that's actually the true, the true number of how many you manage, not, actually, you know that Amy is responsible for and that also showcases the support and takes into account the support that you've got. So, yeah, but one of those I have done a video on that recently for investors, saying that these are questions that are better to ask and one of the questions is you know how long have the team been with you for? Because that's a factor my team that have been with me for seven, eight years or even 10 years can actually manage more than someone who's just starting, because they know their clients so well. Just leave them alone. Correct, yeah, so, and the trust is there. So when the trust is there with your client, that's exactly what I?
Speaker 2:yeah, 100%. Once they've got the trust, they let you do your job and you can physically manage more properties, because you don't have those calls coming in, you're not having to field all the emails. Yeah, yeah, yeah we just don't.
Speaker 1:Yeah, we don't sort of talk about that. So it's yeah, things like Casey's, their business owner things to take into account and I like. I think one thing that I probably also need to do that I haven't is that we've all got our idea of what a powerhouse team looks like. Now, my powerhouse team if I'll share this one with everyone, I have a great property management team. I would love to, if I would love, to actually see a VA for each property manager. At the moment we've got a shade one, so I would love my team to have their own personal sort of PA and BA. That would be like something that I'd love.
Speaker 1:I would also love to see a full-time marketing person in the business and I would also love to have a team of BDMs. So these things, to be honest, they're not unachievable, but there's a lot of like. I've got to have a good think about how it worked, the costs, whether it's worth it and the return on investment. But, like, if I was to map it out, that would be what my dream team looks like and I think that would be pretty cool, because we don't naturally have a marketing specialist in property management. We've got these tools and we also don't tend to. There's very few officers that have a team of BDMs, and BDMs are such great investments for a business. I got my first one after nearly 20 years in business only last year, and I've been doing it earlier. Oh really, yeah, one of my regrets in business is not getting her into the business.
Speaker 2:You've seen the benefits of it.
Speaker 1:Yeah, totally, and I hit gold because she's so driven. Amazing. Yeah, and it's interesting she is on a commission structure, like most BDMs would be, and she actually increased our fees when she started. I'm thinking like how weird. Wouldn't you rather have cheaper fees so you can get more business and more people?
Speaker 2:pay.
Speaker 1:But she was like no, ash, like these fees. They're worth that.
Speaker 2:Oh gosh yeah. I mean what a blessing. I know and like I think, a lot of business owners need to look at that to like their commission structure that they're paying, because the first thing that property managers negotiate on is the management fee, and the management fee is what your business is valued on. So, yeah, I could go down and rabbit hole with that, but I won't go on.
Speaker 1:People want to reach out to you, casey, I think that it's really like. What I love about what you're doing with your line of work is that you see so many officers and you know who's doing it right and wrong and who needs support. So it's really important to get someone like yourself in the business so that they could actually say you know what? What does my powerhouse team look like? Who am I missing? What do I need to do to get to the next level of the business, and that type of thing. I think quite often people do need that third party support, because that's where your specialty is. So I would highly recommend that if anyone is listening to this and just wants to have a consult with Kase or maybe have something with a team, so you can get all on the same page, if you're a really good exercise to actually do, just to go. You know what, the next 12 months this is the gap.
Speaker 2:Yeah, where do we want to go? Yeah?
Speaker 1:100%. So what's this way for them to get in touch with you?
Speaker 2:You can get in touch with me via email or Instagram or phone. I think you'll put the contact details on, but my email is kasey at therentalnetworkcomau. Instagram is therentalnetwork. But yeah, I'd be open to any conversations. Obviously, I love structuring, helping, training, mentoring rental departments and property managers. It's what I think I do best and, yeah, I absolutely love it. I know how well a rental department can thrive when it's managed, structured and trained right. So if there's something that you think is not working right within your business, reach out and I'd be happy to have a call and have a conversation and see where we can help you.
Speaker 1:Fabulous. It's always a pleasure, thank you, thank you.
Speaker 2:Ash, thank you, beautiful, thank you, thank you.