Why Landlords Move Their Managements?

Do any of these issues apply to you and your tenanted property?

• The rent is always late
• Your management fees are too high
• You struggle to get a response from the managing agent
• Maintenance problems
• The tenant is more than a month in arrears

Modo recognises the three most common reasons a Landlord may wish to change their agent.

• Arrears:  The current managing agent cannot get control of the Tenant and their arrears for rent, outgoings, or both. This could be a combination of a lack of experience from the Property Manager or simply that they avoid having difficult conversations with Tenants. With deferred rent (from 2 years of government-mandated lockdowns) and a tightening economy, tenancy arrears need to be strictly managed as they tend to get out of hand quickly.
• Maintenance: The manager can’t get a hold of a tradie or is not reporting maintenance that needs to occur. Tenants get angry because issues aren’t being rectified and often when left untreated, little problems can become big problems quickly. 
• Communication: Based on feedback, I would say that this is the main reason Landlords move to Modo from other agencies. There is nothing worse for a Landlord than having a property manager that hides from problems; not returning phone calls, emails, or text messages.

I am not trying to talk down our competitors, many of them have been in the industry for a long time and deserve recognition for what they have achieved. This is a combination of approximately 25% of commercial property managers quitting the industry in 2021 (due to the difficulties of constant changing of COVID rent relief laws and frankly high-stress of the job) and the VIC government increasing education requirements to enter the industry (it now takes 6-9 months part-time study rather than 6 weeks) making it difficult to train the new generation. PM’s are often overloaded with too many managements, slow software, or just lack the right support. 

At Modo, we have developed a reputation for overcoming difficult issues within managements that others have not been able to do. We achieve this by utilising the best property management systems available, hiring experienced managers, and don’t overload their portfolios. Our relationships with our tradespeople mean that we’re not ‘sitting’ on required repairs and take a proactive approach when it comes to regular maintenance.