What’s your point of difference?

Many property investors choose property managers based on price alone – in particular the percentage of rent charged as a management fee – to the chagrin of property managers.

It is possible to get landlords to pay more if you can clearly explain what your agency will do for them that your competitors won’t – or what marketers would call your “point of difference”.

Landlords will hear similar touchy-feely claims from many of the agencies they investigate about how carefully tenants are selected and screened, how much the agency “cares” etc. – so you need to find a more concrete point of difference that offers real benefit to your potential customers.

What sort of things might form a point of difference? Here are some examples from around the nation.

  • A Perth agent compensates property investors $100 if they do not return phone calls or emails the same business day, refunds the last 90 days’ management fee if any issue brought to their attention is not rectified immediately and a quality tenant “guarantee” – no leasing fee for a new tenant if the previous one they recommended had to be evicted.
  • A nationwide property management brand points to differences including the use of time and date-stamped video for routine inspections and in advertisements, and that their property managers are mostly also property investors themselves and long-term owner operators.
  • A Melbourne agent has senior managers who are Registered Building Practitioners to provide better advice on maintenance and builder defect corrections.
  • In Tasmania, an agent boasts their long-standing Principal is available 24-hours-a-day, seven days a week, and that they call for tenders for all maintenance work annually to ensure the best possible rates for work.
  • A Sydney agent offers a rental guarantee to investors who already own property – rent 365 days a year, regardless of whether the property is between tenants.
  • In Brisbane an agent offers a free 60 day trial, and includes a program of preventative maintenance and annual building, plumbing and termite inspections.