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Where have all the executives gone?
Posted 05.02.09 by fionablayney
You don’t have to be a rocket scientist to notice that in many areas the executive rental market is suffering due to the GFC. Tenants who were previously renting high end homes due to relocation, are either heading home or downsizing. So what is a Property Manager to do?
Condition, Condition, Condition.
Remember you have not dictated the market, it is based on the pure philosophy of supply and demand, hold face to face meetings with clients where you can. Bad news is often delivered / received better when we have old fashion communication. Don’t hide behind email… things can be misconstrued.
Use third party endorsements such as comparables (ones that have rented – not other over priced properties) Draw on media that supports your comments.
Be fearless, what is the worst thing that can happen? But remember empathy, this is not called a Global Financial Crisis for nothing, there are many investors feeling the pinch, concerned about mortgage repayments, and dodging the need to sell their property. We all know, not every investor is a millionaire!
