This unit of competency specifies the outcomes required to list all types of property and businesses for lease. It includes implementing procedures for promoting agency’s property management services, establishing client
requirements, planning and delivering property listing presentations, finalising listings for the lease of property, and recording and acting on client instructions.
This unit does not address listings for property sales or the actual marketing or lease of the property under an agency contract.
The unit may form part of the licensing requirements for persons engaged in real estate activities in those States and Territories where these are regulated activities.
This Unit of Competency (CPPDSM4011A) is one of the elective units in the CPP40307 – Certificate IV in Property Services (Real Estate) qualification.
Assessment for this unit includes tasks to be marked by your Assessor, which may include multiple choice questions, short answer questions, case studies, projects, role-plays and / or demonstrations.
Assessment activities for this unit are provided in a separate assessment document, which has been customised to meet the legislative requirements in your state or territory.
You may apply for assessment through NREL’s recognition process whereby you demonstrate your current competence through prior learning (RPL) by compiling a portfolio of evidence to demonstrate your skills and knowledge.
Your RPL will be supported by interview questions and / or third party reports to confirm your skills and abilities.
Competence in this unit will be demonstrated when you are able to show that you can meet the Elements and Performance criteria, shown on the following page. These have been extracted from the full Unit Descriptor which is
available upon request.
Property management is the backbone of most real estate agencies. The rent roll in most cases represents the lions’ share of the assets of the business.
The income produced from the rent roll often supports the operation of the business as a whole. What this means is that very often the rent roll income and the profits from the rent roll provide the cash-flow necessary to keep the
Typically, the rent roll income will support the
- Office rent and rates
- Office Overheads
The main difference between the income from the property management and the sales operations is that the rent roll income is relatively stable, and varies little from month to month, whereas the sales business is subject to fluctuations, and there is limited stability.
The other benefits to the business from the rent roll are that the business benefits from an ongoing source of:
- Potential vendors landlords who are selling their investment properties
- Potential buyers tenants who become purchasers and o landlords increasing their portfolios
However, just as in the sales department, it is necessary to pro-actively attract new business rather than hope it will just walk in through the door. Investors may sell all or part of their portfolio or buy other assets; other owners
may decide they want to live in their investment property; others may decide to move out of their properties and lease them.
As a result, the rent roll may grow, or it may be reduced in size through natural attrition over time.
The successful property manager is one who can maintain steady growth of the main business asset – and listing skills are just as important to the property manager as they are to the salesperson.
This unit focuses on the skills and knowledge required to be able to list property for lease with confidence and as a result, maintain and grow the business.
Promoting Property Management Services
Part of the process of attracting new property management listings is through marketing. There are a number of ways that can be used to market and promote management services we provide. The other way, is by building an awareness of you, and the value you provide to landlords, to ensure that you can gain word of mouth referrals. However, you cannot rely on your existing landlords to refer you to others if you are not proactive about building business this way.
Some of the marketing to attract new landlords is just quite simple – it is about doing the everyday things better. Here are a few suggestions:
Your vacancy list says a lot about your agency. It should look professional and
be well written. Minimise abbreviations and include good photos. Potential
landlords could look at your list to see how you present property for rent. Take a
look at some of the rental lists outside different real estate agencies and you’ll
soon be able to see the difference is the quality of the lists.
Make sure that all the photos you take of properties look professional and
attractive. There should be no photos of bathrooms with the toilet seat up or
outdoor shots with the garbage bin in view cars in the drive and so on. Think
about what you are trying to promote. Potential landlords will be deterred by
“For Rent” Signs
Make sure that the signs look professional and portray the right image of your
agency. Check from time to time to ensure that it is still there and has not been
damaged or has graffiti on it. Just like in sales, signboards are your salesperson
24 hrs a day – not only promoting the property you want to rent, but your
management services at the same time.
“Just Rented” or “Just Leased” Signs
These really do promote your property management services as it is proof that
you have successfully rented the property. Landlords with property in the same
area which may still be vacant will perhaps think about contacting your agency.
Work with your sales department to make sure they are actually marketing your
services. They will be coming into regular contact with your potential clients
(their vendors and purchasers – your landlords and tenants) at Open Homes
and throughout the marketing of their properties.
In your agency’s windows, have a card promoting your services in the sales
window as well as the rental window. Investors will be looking in the sales
windows as well as the property management window so you should have a
presence there as well. Just as in the sales department’s window, have a few
cards with “Just Leased” stickers on them.
Landlords and potential landlords look at the internet as well as your potential tenants. Just as you want your on-line presence to appeal to tenants; it should be professional enough to attract landlords to your agency.
Landlords will be looking to see who manages property; who promotes rental property the better and how well rental property is marketed. The Internet has become the medium of choice for many people, so you should ensure you’re
your presence on the web is professional, informative and has lots of good photos attached to each property for rent. Ensure you have internal photos as well as external. You’re selling yourself – not just the property!