07 Apr 2020
Words Trudy Crooks

Increase Your Value As A Management Rights Operator

Last week, we promised we’d keep you in the loop with major developments and provide general business advice to help you through this difficult period.

Right now, the impact of COVID-19 is hitting everyone hard and it can be almost impossible to look beyond the difficulties that are right in front of us and take a longer term view of things.

We believe the situation does present certain opportunities. One of those is that right now the quality and regularity of cleaning has become a central issue, vitally important in all buildings. This means that management rights operators are becoming even more valuable in the current environment.

This does not necessarily need to add too much time to your hours worked, but the effort could go a long way in the future should you require top-ups to your agreements or if you are considering negotiating your salary.

By going above and beyond, even just a little bit, you’ll demonstrate that you not only have a strong work ethic, but also confirm that you take pride in the operation of the building, and are critical to everyone’s wellbeing.

This can include ensuring that signage is updated and positioned in prominent places, along with introducing protocols and procedures in your building which can add an extra level of cleanliness, comfort and safety to those living there.

Another point to consider is that this could also be an opportune time to win back some external letting appointments. If you think property management is becoming difficult for MR operators, just imagine how hard it is for a high-street property manager running a disparate portfolio of rentals. I know who I’d rather have managing my investment at the moment.

It would also seem clear that the current situation will have a very heavy impact on Airbnb – on Monday the NSW government banned Airbnb in the state in a major move. It remains to be seen whether other states will follow suit. This could be the perfect time to try to win these appointments back. 

Finally, never lose sight of the fact that a management rights business remains a secure investment with solid cash flows, backed by strong legislation, even in the current climate.

We’ll be in touch soon with more updates.

Please call us if you need any advice at any time, and stay safe.