Why the % Game in Residential Property Management Punishes Wealthy Clients and what you can do to change the game.
MAKE MORE MONEY
GROW PROPERTY WEALTH
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The world's richest people are getting more and more annoyed at how much it costs them to look after their London property
Imagine two property owners both with tenanted central London rental properties managed by the same estate agent charging a typical 5% of income to manage the property.
Tenants at Both properties report a plumbing problem with a leaking sink.
Tenants at Both properties report a plumbing problem to the % managing agent
The % managing agent sends the same plumber
The plumber spends the same time and materials and charges the same £100
Annual 5% Management Fee is applied to both properties rent.
How is it that one of these property owners pays ten times (x10)more? That is just not right!
The Example in £ numbers:
The Example as a story
Tenants at Both properties report a plumbing problem with a leaking sink.
Tenants at Both properties report the plumbing problem to the % managing agent
The % managing agent sends the same plumber to fix the issues.
The plumber spends the same time and materials and charges the same £100
Annual 5% Management Fee is applied to both properties rent.
How is it that one of these property owners pays ten times (x10) more than the other? Answer The % Percentage Game and that is just not right!
Save your valuable time and enjoy peace of mind.
There is no future for business as usual.
Your London property CAN make you money
So Why did the property owner with the larger property pay 10 times (x10) more than the owner of the smaller property for the same service.
1) The same property manager answered the tenants calls.
2) The same property manager arranged the plumber to attend both properties
3) The plumber charged the same £100 for the work
So Why did the property owner with the larger property pay 10 times (x10) than the owner of the smaller property for the same service?
In what other area of business do your wealthier clients suffer this price misalignment.
What happens in Private Banking, Private Wealth Law, Trustee, Fiduciary and Family Office services
Typically more substantial clients receive better not worse terms.
With good reason as the economies of scale and the earnings potential is often factored into the fee estimates.
This is a simple example of what is happening every day in London residential property management and why wealthy clients are understandably dissatisfied.