The COVID-19 pandemic has seen an acceleration in the number of property managers leaving full-time employment at agencies to start their own business, an industry expert has revealed.
According to director of Coronis Now, Jodie Stainton property managers are shifting towards starting their own business as working remotely has shown that there are potentially better opportunities for managers who start their own business.
“In the past six months, more than 500 property managers have contacted me and enquired about starting their own business, working for themselves and running their own portfolio for a range of reasons,” Ms Stainton said.
Ms Stainton stated that her company is currently seeing more than two property managers a week enquire about starting their own business due to the long hours property managers in agencies work.
“Property managers are some of the most hard-working people I know, but a lot of the time, they’re some of the most underappreciated, undervalued and underpaid people on the team,” Ms Stainton said.
“With the emergence of cloud technologies, job losses due to COVID-19 and working mothers needing more flexibility, a lot of property managers have been forced into unemployment so they have started working for themselves,” Ms Stainton explained.
Ms Stainton believes once agents have established a strong portfolio of clients, the manager can have a stable income by providing the same service they already do.
“To put things into perspective, managing 100 properties is a full-time job. The difference is if you’re working for an agency, you’ll earn an average salary, but if you go out on your own, you could earn more than $140,000 per year while living your desired lifestyle.
“For example, one of our Coronis Now partners, Vicki Wharton, once signed a new management up while enjoying a day on the beach with her daughter, while another one of our partners, Carlene Murdoch, went on a holiday to the USA but continued to manage her own portfolio here in Queensland.
“There are so many stories like this which demonstrate the amount of flexibility you can achieve in your life when you start working for yourself, especially when you have access to the right technology, systems and support from like-minded professionals to help you grow your business,” Ms Stainton concluded.