More than 5,300 property management positions are sitting vacant across Australia, with salaries climbing past $110,000 in some cases – yet agencies still can’t fill the roles.
New analysis of Seek job listings by Kolmeo, a property management software firm, found Victoria accounts for one in five of those vacancies, with 1,100 unfilled positions in the state alone.
Senior property manager roles are now being advertised at up to $120,000 in Victoria, where regulatory changes have been more extensive than anywhere else in the country.
“One of the things that has caught us by surprise was about how much the conversation was shifting towards ‘whatever we do, we can’t lose a property manager’,” Kolmeo chief executive Scott Bateman told News.com.au.
“Wages have increased significantly since 2022; that shows that throwing money at the problem isn’t resolving it.”
The figures point to a significant gap in rental market support.
With the average property manager overseeing roughly 150 properties, Kolmeo estimates the 5,000-plus vacancies could mean as many as 800,000 rental properties nationally are being managed by stretched teams.
“It appears to be a growing problem and it’s not one we have seen any indication that it’s slowing down,” Mr Bateman said.
“The data for the moment suggests it’s a bad problem that is getting worse.”
Victoria has introduced 130 changes to rental regulations since 2021, requiring property managers to stay across constantly shifting compliance requirements while handling hundreds of tenants and landlords.
Mr Bateman noted that many property managers are renters themselves and support the intent behind the reforms.
But the cumulative weight of implementation is proving difficult.
“You are trying to handle hundreds of people associated with those homes, and then dealing with the 130 changes since 2021, and that’s creating an effect where there’s so few people to do the work,” he said.
The result has been a dramatic shortening of career timelines in the profession.
“The average career timeline is now about one year,” Scott said.
Entry barriers add to the challenge.
Becoming an agent’s representative in Victoria now requires completing a Certificate IV in Real Estate Practice – a qualification that takes between four weeks and 18 months depending on study mode.
Hayley Mitchell, who works under Podium Property Management and operates Mitchell Property Training, says the training requirements have changed dramatically since she entered the industry 25 years ago.
“You used to be able to go to REIV for a week, and then work as an agent’s rep,” Ms Mitchell said.
“What they’ve now done is almost like you’ve got to do the full license course in order to just start working.
“A lot of people don’t want to spend the time studying, to actually get and start working in the industry.”
Even those who complete the qualification often struggle once they’re in the role.
“It’s really, really hard for agents to be able to train people,” Ms Mitchell said.
“They’re already short-staffed, and you put someone on in an agency who’s got no experience, they’re going to be dumped and left.
“A lot of people are burning out and getting out before they’ve even really given it a red hot go because they’re not given the support once they get there.”
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