Nick Menz – National Acquisitions Director from the ASPIRE Property Advisor Network discusses feedback from property managers in the industry.
– So the property managers have had to change their business practices a little bit, given the current restrictions. So I’ve had a chat to a few of those that our clients use. And what I’ve found is a couple of common themes of how they’re now approach letting properties. So first off, when a tenant expresses interest in a property, registers for a viewing, they get given a link to a virtual walkthrough, so just a video, a walkthrough of the property so they can understand the flow and the layout of it. If they then like what they see, then the next thing they can do is arrange a one on one inspection with the property manager. So rather than the larger groups, just an individual on a showing. From there, the property managers have generally adopt a scan and send application process, rather than sitting across a table, sharing a pen, that sort of thing. Then if the application’s accepted, then the tenant gets the keys to the property. So the property managers still working hard to let properties. What they have done though, is they’re now minimising the routine inspections for the tenants that are in place. That will continue until the current restrictions are relaxed a bit. So across the board, all the property managers are still saying that they are getting plenty of interest in the properties. They’re conducting, still decent number of viewings, they’re getting good applications through. They’ve not seen any discounting of rent, significantly higher than what they have seen before this current situation. So they’re still very confident in the marketplace and moving forward.