This month we’re having a chat with one of our newest team members, Business Development Manager Nicky Ogilvy.
Can you explain what a Business Development Manager does? What is a typical day for you?
Essentially, a BDM is responsible for introducing new landlords and their properties to the agency. Growing the rent role is essential to the long-term success of a property management department, especially to stem the natural attrition that occurs (landlords selling their investment properties or moving back into them).
Typically, a BDM will meet with potential landlords to discuss the benefits of employing a professional agency to lease and manage their property. A BDM is well versed in all aspects of property management and can offer a rental appraisal, explain market conditions, explain responsibilities to an owner, outline a marketing strategy and ensure a smooth handover to the designated property manager.
How is Rentwest different from other property management companies?
Rentwest Solutions is one of only a handful of agencies that is focused solely on property management. At Rentwest, the focus is on customer service and we invest in the latest industry tools, technology and people to best serve our clients, whether they are a landlord or tenant. The portfolios of each individual property manager are kept to a manageable size and there is adequate support within the office should the property managers need it. Rentwest has a large portfolio extending as far as Butler to Mandurah, and it has the staff, expertise and resources to service properties in all metro areas.
What are your thoughts on the local property market at the moment?
In recent months we have seen a softening in the rental market. Although rents in the lower and middle end of the market continue to rise, as demand has waned we have seen tenants being more selective as to the properties they apply for, so it is essential that landlords maintain their properties at a high standard to attract good long-term discerning tenants.
Demand in the executive rental market has dropped and this is reflected in homes being re-let for prices less than they were previously as well as an increase in days on market. It?s important to be realistic, as many of the corporate tenants have recognised the change and are negotiating harder when it comes to new leases.
In many cases, our advice would be not to increase rent at the end of a lease, in a bid to retain a tenant, rather than going to the rental market and running the risk of a long vacancy period.
Do you have any questions for Nicky? Leave a message on our Facebook wall.