Eastern suburbs Sydney top property managers revealed

In Sydney’s east property is king. And the east’s property managers are among the best. We spoke to those at the top of their game and found out the secrets to their success.

Scoring an investment property in the eastern suburbs is only one half of the most important decision you will ever make.

The other is choosing the right property manager to look after it.

We spoke to some of the most experienced and highly respected local property managers who look after a combined total of thousands of eastern suburbs investment properties every week.

Here they share not only how to choose the right property manager but the important conversations you need to be having with them as a landlord.

KAREN CHEN

Head of Property Management, Belle Property Pyrmont

With 12 years real estate experience under her belt, there’s not much Karen Chen hasn’t encountered.

“My work experience stretches from day to day property management tasks and renovations co-ordination to tribunal conciliation and hearings management as well as leading a team,” Ms Chen said.

Karen Chen is vastly experienced in property management

There are many beautiful homes currently entrusted to Ms Chen from a four bedroom oceanside property at Lamrock Ave, Bondi Beach to a trendy industrial chic terrace on George St in Redfern.

Ms Chen said transparency, regular communication and complete honesty were absolute non negotiables in a property manager.

“I am always on the phone with my landlords and tenants to check in on them and see what else I can help them with,” Ms Chen said.

“I also ask for feedback constantly so to ensure if there are any improvements required it is actioned ASAP.

“I am very proactive when it comes to ensure the relationships are looked after so I constantly check in with clients.”

We’re sure there must be some conflict between the desires of tenants and landlords but Ms Chen takes it all in her stride.

“Every day is different which is why I love property management so much,” she said.

“I think what makes me feel happy the most is when I can resolve a tough situation for my clients and all parties are satisfied. I feel like it’s also a reward to myself which is why I enjoy my job so much.

“I don’t feel like anything is challenging because I will always find a way to resolve it.”

MICHAEL MINOGUE

1st City Minogue and Doak Woollahra rental business principal

Real estate is a game and Michael Minogue knows how to play

While Michael Minogue has focused on sales for most of his 37 year real estate career, as the co-owner and manager of a property management team currently looking after 400 residences he knows a thing or two about rentals.

He said it takes a special kind of person to become a successful property manager.

“Look, in property management you have to get it and if you don’t get it then no amount of training can help you,” Mr Minogue said.

“If you get it then it’s because you understand property management is about the people rather than the houses themselves.

“You’ve always got tenants who don’t want to pay rent and owners who don’t want to do repairs and the poor old property manager is in the middle

“You’ve got to look at both sides, but at end of the day as the property manager we work for the owner.”

Mr Minogue said real estate is a game and you need to learn how to play it.

“I’ve said to people just give a small rent rise not a big one you want to keep the tenants in there,” Mr Minogue said.

“And they’ll say, ‘but it’s worth more’ and then what do you know, the tenants move out.

“The expectations of prospective tenants these days are higher than they used to be and so it’s not like it was for owners who had no problems for 30 years.

“A good example is the flats on top of the shops on Oxford St. We had people lining up around the block to rent them years ago because it was all the go and now you can’t get anyone to live in them.”

Mr Minogue said his team managed renovations for landlords – a process which required a strategy.

“I can put band aids on properties and keep them going for ten years and then you bite the bullet and renovate – new paint, carpet the lot,” he said.

“You’re either fully cocked renovated or you’re the cheapest in town. You have to decide, do you want cash flow and someone in there or do you want to play the vacancy game?”

While units are experiencing vacancies at the moment, Mr Minogue said owners of houses continued to do well in the rental market.

“I have mates who say ‘c’mon can you get us in a house?’ and I’ll say ‘it’s a bull market you’re mad – back of the line like everyone else’.”

JEROME SROT

Business owner and Director of Property Management, Ray White TRG

With 15 years real estate expertise and a coveted seat on the Ray White Rubenstein group board of directors, landlords are in good hands with Jerome Srot.

The Ray White TRG team are based in Woollahra but manage properties across the east.

Mr Srot is often the first port of call for the luxury property investors.

His current listings include an exclusive harbour front penthouse at Elizabeth Bay with a rent of $5450 per week and a Dover Heights mansion for $2950 per week.

He has just found tenants for a sprawling four bedroom home in Vaucluse which was listed for $4250.

Jerome Srot Ray White TRG

However he also takes good care of his more modest listings too such as a Darlinghurst 1 bedder listed for $495.

“You want someone who is proactive, responsive and can handle the heat when the going gets tough,” Mr Srot said.

“When a property/tenant issue festers and isn’t resolved in a timely manner, it can often manifest into a much bigger problem. Unchecked, it can expose the landlord to unnecessary financial risk.”

Mr Srot said he never got tired of the opportunity to look after such magnificent real estate.

“I have had the opportunity to manage some spectacular properties. Some highlights are a beachfront property in Watsons Bay, another home in Vaucluse with iconic gun-barrel views as well as a quintessential Point Piper penthouse,” he said.

Rachael Beadman will get your rent on time.

RACHAEL BEADMAN

Head of Property Management PPD Real Estate

With a whopping 1200 properties on the books and 550 new leases signed every year, Rachael Beadman and her team know the east’s rental market inside out.

Ms Beadman has two decades of sales, managerial and leadership experience in the UK and Sydney.

Current properties under her team’s management include a stunning art deco apartment on William St, Double Bay and a luxury penthouse on Bream St, Coogee.

PPD, who have offices at Woollahra and Coogee, are one of the highest ranked real estate agencies in the east as voted by landlords on the well regarded RateMyAgent website.

Ms Beadman says that track record is hard earned and landlords should be discerning in who they appoint as property managers.

“Number 1 is excellent communication along with professional advice, good recommendations, on time rental payments, and expert local market knowledge,” Ms Beadman said.

“Tenants are concerned about maintenance and owners about cost.

“We work closely with excellent qualified tradesman to ensure speedy and professional service.

“For owners we ensure that the least amount of vacancy by managing the re-let process well, this includes professional marketing and a dedicated leasing team working six days a week to source the best possible tenant.”

GINA MAGLIONE

Property Manager NGFarah

Gina Maglione says she is living the dream helping to manage some of the most sought after addresses in the east.

Gina Maglione loves to help landlords improve their properties.

“There have been many beautiful properties, I have had the opportunity to look after in the eastern suburbs area, with gorgeous ocean views, larger style mansions, character filled homes and ultra-modern apartments,” Ms Maglione said.

Ms Maglione’s interest in property began with managing her own portfolio including getting to her elbows in the renovations.

She’s since worked her way up over nine years from an assistant to a property manager in her own right.

“I understand property well, as I have bought and sold on numerous occasions,” she said.

“I have also fully renovated a house in Botany which was sold in November 2017 with NGFarah. I styled it myself – I love interiors and DIY projects. Renovations are so much fun!”

Ms Maglione said due to her personal experience with renovations, she had sage advice for landlords which ultimately saved them time and money.

“I like to have my landlords presenting their property in the best way possible, in terms of condition and repairs,” Ms Maglione said.

“So I have the tough conversations at the start, which makes things easier down the track.

“Getting onto repairs and tasks as quickly as possible, having good communicational skills, providing constructive feedback, it also helps to troubleshoot repairs with tenants where possible.”

Ms Maglione said she’s never been busier than since Covid as has everyone at NGFarah’s offices in Coogee, Kingsford, Malabar and Mascot.

“Dealing with a pandemic has been a massive challenge, as a property manager, my work load has increased by 30 per cent,” she said.

“There are challenges during the low rental market periods, when the property stock is in over supply and rental prices drop, extended vacancy periods and higher vacancy rates.

“Highlights are keeping tenants and landlords happy on a daily basis, seeing beautiful properties, as well as when we are able to lease properties reasonably quick during the most challenging times.”

ANDREW ANASTASSIOU

Principal and Licensee in Charge, Home Estate Agents Maroubra

Most of Andrew Anastassiou’s clients come to him after being personally referred by friends and family.

“I treat every individual property like it’s my own, and therefore take a personal interest in supporting my clients to achieve their goals,” Mr Anastassiou said.

His commitment to excellence inspires the entire Home Estate Agents team, who have also achieved a coveted top tier ranking on RateMyAgent, and in 2010, he was appointed Licensee in charge.

Andrew Anastassiou is a firm favourite on RateMyAgent

Mr Anastassiou said it gave landlords confidence to know their home was being dealt with by a local heavily involved in the community.

Not only is he eastern suburbs born and bred but a Justice of the Peace and member of the South Maroubra Surf Life Saving Club and a sponsor of many local sports teams.

He advised prospect landlords to do their research when looking for a property manager.

“It’s important to see recent reviews on RateMyAgent which are verified reviews from landlords,” he said.

“This will decipher from the rest of the pack. A smaller/medium agency usually offers a more hands-on approach.

“We recognise that your investment property is an appreciating asset, which requires quality tenants with the maximum rental return for the longest period of time.

“Using stringent selection criteria, our residential Leasing and Property Management team will find you the right tenant in the shortest time frame.”

Unlike with many of the property managers who are newer to the game, Mr Anastassiou said you want someone in your corner who isn’t afraid to pick up the phone.

“Most tenant landlord break downs happen over repairs and lack of communication,” he said.

“This is becoming more of an issue as a lot the younger generation property managers are used to sending emails and texts messages as we like to have verbal conversations prior to putting everything in writing.

“This will help get a better grasp of the situation before formalising the decision made.”

He said managing a rental can be highly fraught with so many landlords and tenants under financial strain due to the pandemic.

“The challenge right now is tenants are losing their work and it’s not just tenants – some of our landlords are highly geared and rely on rental income to pay the mortgage,” Mr Anastassiou said.

“We are blessed that the majority of our portfolio are in the eastern beaches area within two to three kms of several beaches – Coogee, Bondi, Tamarama, Malabar and Clovelly.

“We manage several beautiful penthouse style apartments and executive houses which there is a massive demand for during lock down.”