Business Profile Brett Sanftleben & Piotr Pstrus
Independent Property Management Group (IPMG) On a Wednesday afternoon House caught up with Piotr and Brett to talk about their new approach to property management. Where did the idea for the business come from? We’ve been looking after rental properties for a number of years. The more private landlords we spoke to, the more we realised that there was a demand in the market for a slightly different type of property management service. Together we discussed the idea of becoming Independent Property Managers, developed a business plan, and slowly started working on setting-up the business, while continuing with our full-time careers. What was the reason behind starting up a property group that combines the services of a letting agent and the skills of a property maintenance company? We know that there are a number of local letting agents that look after rental properties on behalf of private landlords and do a good job. But we have found that many landlords are looking for something more comprehensive, more personal and more flexible, something that really does allow them to enjoy the income on an investment property without any of the hassle that goes with managing it. How do you see IPMG growing in the next two years? The priority for us right now is to grow our management portfolio. As a partnership there is a limit to the amount of properties we can manage, and we are well on our way to this. We will certainly gain more experience during this process, and will no doubt learn a lot more about being Independent Property Managers. Although we have many ideas about how to develop the business in the future, our first couple of years will be dedicated to doing a really great job for our clients. In comparison to your competitors, what makes IPMG different? I think the biggest difference in using us is that we really do take care of everything. For one simple
monthly fee we take care of essential maintenance, alongside the marketing and management, and we don’t charge extra for additional services such as inventories, inspections or checkout. We’ll even arrange and supervise any repairs, refurbishments or specialist installations on behalf of our clients, meaning that we really do provide a total property management solution. On top of this, we’re not restricted to normal office hours, and we will meet with clients, respond to tenants and personally attend properties at all times of the day (and night sometimes).
I think the biggest difference in using us is that we really do take care of everything. Why should customers opt to do business with yourself? We are offering a very compelling alternative to a traditional letting agent giving our clients everything they need for one simple monthly fee with no hidden costs. Once we take over, our client’s phone will stop ringing. We take all of the tenants calls, texts and emails, at most times of the day. We know that every landlord is different and our clients expect flexibility. So with every new client we meet face-to-face, view their property, discuss their requirements and make sure that we enter in to a management agreement that provides them with exactly what they are looking for. We enjoy very friendly relationships with all of our clients and will update them as frequently as required but day-to-day we take care of everything for them. In fact, in many cases, we’ve become so trusted that we often take on all sorts of additional tasks to help them out! The way we operate works really well for our existing clients, especially those who live overseas or are not local to the area, and we are certain that there are many more landlords out there who are looking for a service like ours.
Independent Property Management Group The Studio, 9 St Winifred’s Road, Bournemouth, BH2 6NY 01202 944558 | www.ipmg.org.uk | info@ipmg.org.uk facebook.com/independentpropertymanagementgroup
What is the most frequent question asked by your clients? How do you address this? Including maintenance in the management fee is a big benefit for our landlords, as contractor callout charges and invoices for even small jobs can quickly add up to a lot of money. We’ve had to be really careful to define what is included though and always use the term ‘essential maintenance’ so that we can be quite specific. Landlords are very savvy so our property management agreements have to be very clear! But, so far, all of clients have understood the spirit of this part of our service and we have very few issues. How would you describe your experience of starting your own business? It’s been great, but there’s much more to do than you realise. Our business didn’t have huge start-up costs - it’s just the two of us and we don’t need to fund expensive premises, pay staff, or find big advertising budgets - but the time it has taken to get completely organised as a modern efficient business has been considerable. We’re committed to providing the best possible service to our clients though, so we didn’t want to cut any corners and have made sure we are very well set-up. And we’re working every day to do better. Is running your own business something you have always wanted to achieve? Absolutely! There is a big sense of achievement to setting up your own business. You get control over so much detail and, ultimately, it’s us that benefits from the long hours and hard work we put in. It’s very satisfying and something we’ve wanted for a long time. What is your most notable achievement to date? I think when you know how much hard work it takes, you feel proud of even the smallest details. What motivates you? We’re motivated by many things. Building a better business, being different and being successful. The biggest buzz though comes from feedback – happy clients and happy tenants.
IPMG
Independent Property Management Group