Blog

  • Darlinghurst Suburb Guide
    Wednesday, October 15, 2014
    Highlights of Darlinghurst Darlinghurst is an inner city suburb of Sydney.  Close to Sydney’s Central Business District, it is one of the m...
    Read More...
  • Paddington Suburb Guide
    Thursday, September 25, 2014
    Paddington, Sydney living: the highlights  The sought-after suburb of Paddington, nicknamed “Paddo”, is located a mere 3km from the S...
    Read More...
  • Bondi Beach Guide
    Wednesday, July 02, 2014
    Highlights of Sydney’s Bondi Beach Sydney’s Bondi Beach is located on Sydney’s Eastern Suburbs and it’s the most famous beach ...
    Read More...
  • Top 5 renovation tips that will increase the value of your property
    Thursday, June 12, 2014
    The competitive Australian property market can seem like a jungle - everyone is looking for the best way to add value to their home without breaking t...
    Read More...
  • DIY tips to prepare your house for sale
    Monday, June 02, 2014
    Do you want your home to stand out from your competitors?  If you are serious about putting up your home for sale, it is vitally important that y...
    Read More...
  • Rental home hunting? Follow these 5 simple tips for a smooth transition
    Wednesday, May 14, 2014
    The rental property market is highly competitive at the moment, especially as more and more people are choosing to rent rather than to buy.  Look...
    Read More...
  • Escape into your own private oasis
    Wednesday, April 30, 2014
    With all the chaos of our modern world, we all need a private haven to escape to. Nature has provided us with one of the most decadent luxuries the hu...
    Read More...
  • Property prices on the rise with Sydney’s property boom
    Monday, March 17, 2014
    With interest rates at a record low, and high demand for limited housing stock, Sydney’s property market is set to see an increase in property d...
    Read More...
  • Top Tips for Buying a Rental Property
    Friday, February 28, 2014
    Buying a rental property can be a very financially rewarding decision. However there’s no denying that it involves a lot of research beforehand....
    Read More...
  • Sydney property and property investment news
    Monday, January 20, 2014
    The increase is the biggest jump seen since late August 2010, and follows a series of country-wide falls in property values in the two preceding years...
    Read More...
More articles »

Building your own property management company

Thursday, June 28, 2012

Thinking of having your own commercial property management company? Well, it’s the best time of the year to make your dreams come true. Promising areas in Sydney are growing such as the northern suburbs like Macquarie Park. Areas that are seeking to build shopping centres and businesses. This gives a great opportunity for commercial property management companies and several new ones are emerging like Niche Portfolio that use a ‘hands-on’ approach. So why not build yours no matter if you’re already an property owner or just completed your educational degree.

Starting out your own company requires research, consultation and of course experience. It’s not an easy process. So here are steps and tips that will help you build a portfolio and achieve success:

  • Know your audience: It will help you set up your goals and strategies, a pathway to success. It’s a good idea to cater different types of commercial properties in the future since it will attract a diverse audience, more references, grow stronger against competition and avoid problems in the markets. So keep this in mind.
  • Have a marketing plan: This is where you write your goals and strategies, and add things that you’ve researched such as location, statistics, competitors or potential ones
  • Know the right time:  Before starting, it is important to know the current trends; what people want or need, and in that way it will help you succeed reaching your target market.
  • Utilise what you’ve learnt from your studies and professional experiences. You’ve put your time and energy into it so employ them. You would feel that all the studies and experiences were worth it.
  • Organise your finances:  Know what you have and could afford to avoid big surprises like losing to competition.
  • Networking: It’s important. A great way to help build and promote your company and find clients. Look for reputable realtors, owners, investors and other property management companies in the area too, and build a relationship with them. You never know they might give advice and refer you to others.
  • Set up the basic elements of your business like email address, website, an office, other contact details, business cards. They’re a good start since they cost little. Don’t rush into things like employing high-standard services during the first days. You can set up your office at home first.
  • Find the best real estate portfolio manager: They’re responsible for assessing the value and performance of real estate companies and its investments, and look out for financial trends, making them a great asset. Look for qualifications and interview them. Or you could be your own real estate portfolio manager if you have experience in that area or planning to.
  • Get your company out there: Put up an ad on the internet or the old-fashion way on posts or insert fliers in mailboxes. Use social networking sites like Facebook and Twitter to create a business page. Alternatively you could find a marketing company to help you.
  • Love your job! It’s important, if not, beneficial if you have a passion in real estate and property management. Note that it’s a people-orientated business.