I live in New Zealand and am looking for a property manager. I was told that the industry average is for a property manager to manage 180 properties. Is this consistent with what you would expect? It seems to be different from what is discussed in the articles on this site but then it does seem that the US has a lot more evictions than the US. How many properties would you expect the average property manager in New Zealand to manage? They reckon that the only spend half an hour a day following up on rent arrears.
Where are you looking for property manager, Christchurch NZ ?
@Kyle Elmer will be good to comment on this.
That average sounds a bit at the high end of the range, certainly if you are looking at SFR's. It depends on the type of manager you are looking at and the type of property they manage. The two main types of system are portfolio and pod/task based.
Portfolio means one person does everything from go to woah on a given number of properties and must be highly efficient in everything to get a good management. Usually this type of Manager would look after 100-150 doors but this varies if they are apartments in a few close by buildings or SFR's spread all over.
Task based will have a small team looking after a specialised area of each process for a number of properties. So a senior pm may focus mainly on the owners, a jnr pm may focus more on the tenants and inspections and an admin team will look after more of the paperwork, rent tracking etc. this could mean a pod might look after 300+ properties again depending on how close together they are and what type.
The benefit of pod over portfolio is a number of people keep an eye on your property and they tend to have an area they specialise in meaning the job is a bit more thorough, batching making it more efficient. It means there is normally someone on duty all the time too as one of the team can handle an unexpected situation and make sure the right person gets to sort it properly later. There are also more checks and balances as the next person in the process will pick up if someone has missed anything.
Portfolio you will have only one point of contact to deal with which can be nice, but that person will need to be a good sales person to get it rented, a good details person to do the inspections and track the rent payments etc.
As you can probably tell we built our business as a pod system as we preferred a number of people keeping an eye on the property, tenants and each other. It just means we needed to build very good systems and reporting internally so everyone knows what stage things are at.
Hope that helps.
Are you looking in NZ or the USA? In NZ, well Auckland anyway I don't know any PM's with less than 200 doors. In Memphis many would have double that.
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