What the rental crisis taught us about resilient property management

The Australian rental crisis hasn’t passed us by – it’s still very much here.

With vacancy rates at record lows, rental affordability stretched thin, and supply shortages biting harder each year, property managers are still carrying a huge amount of pressure.

But if there’s one thing the past few years have shown, it’s this: building resilience into your property management operations has become the difference between just getting by – and building a business that can actually grow.

Here’s what the rental crisis has already taught us – and why these lessons are just as critical as ever.

A quick look at where we stand now

You probably don’t need a reminder, but the numbers really drive it home.

CoreLogic reports that between August 2020 and June 2024, rental values jumped by nearly 39% nationally – and we haven’t seen much relief since (CoreLogic).

PropTrack’s data shows that median advertised rents hit $600 per week across Australia by March 2024, climbing more than 9% in just one year (PropTrack).

And vacancy rates? They dropped to just 1.09% - a figure so low it made finding a rental feel like winning the lottery (PropTrack).

In short: it was a pressure cooker. And property managers were right in the middle of it.

5 big lessons (and counting) in property management resilience

1. Business as usual? Not a chance

The rental crisis didn’t wait for anyone.

Agencies who stuck to rigid processes struggled. Those who stayed flexible – shifting workflows, rethinking priorities, and adjusting communication styles – coped better and kept things moving.

TIP: With tools like Console Cloud, your team can switch gears easily – whether they’re in the office, on the road, or working remotely – so you’re ready for whatever the day throws at you.

2. Communication was your best safety net

When stress levels were high, silence only made things worse.

The best property managers kept the conversations going – even when it wasn’t good news – and built trust by being open and proactive.

TIP: Set up smart automations to send updates to tenants and landlords regularly, so no one’s left wondering what’s going on.

And when you need a quick way to stay on top of it all, Console Conversations makes it easy to send, track, and manage all your messages in one place – no more digging through emails or missing a reply.

3. Education helped keep the peace

A lot of frustration came from people simply not understanding the market reality.

The property managers who took the time to explain the situation – with facts, not just opinions – managed expectations better and kept relationships strong.

TIP: Have ready-to-go resources that explain rights, responsibilities, and rental market trends – it makes every tricky conversation a little easier.

And when you need to back up your advice with real data, Console Cloud’s analytics tools make it simple to show what’s happening across the market, so owners and tenants can see the bigger picture for themselves.

4. If your systems were slow, you were too

Agencies still relying on old, manual systems felt every bit of the extra pressure.

The ones who already had digital applications, cloud platforms, and automations in place could keep up – and keep their teams sane.

TIP: Choose technology that actually clears the admin clutter, instead of adding to it. Automate your maintenance tracking, tenant updates, rent payments, and more – all from one platform, so your team can focus on people, not paperwork.

5. Good decisions came down to good data

When things got chaotic, gut instinct wasn’t enough.

Agencies that leaned into real-time data – tracking arrears, tenant trends, and maintenance requests – could spot issues early, give better advice, and keep landlords confident in a tough market.

TIP: Use Console Cloud’s smart reporting dashboards to catch red flags early and give your landlords real insights they can act on. It’s the kind of support they’ll remember when it comes to renew management agreements.

How to keep resilient as the rental crisis continues

Here’s how smart agencies are staying strong:

• ‍Cloud-based systems keep you flexible and connected.‍
• Automated communication ensures tenants and landlords stay informed.‍
• Education prevents conflicts and builds trust.‍
• Digital applications speed up tenant onboarding.‍
• Proactive tracking of arrears and maintenance avoids bigger problems later.‍
• Real-time reporting helps you make faster, smarter decisions.

The market pressure isn’t going away anytime soon – but the rights strategies and systems can make it manageable.

Resilience is an ongoing investment

The rental crisis hasn’t been a single event – it’s been a multi-year challenge, and it’s still shaping how we manage properties today.

Building resilient operations isn’t just about getting through tough times.

It’s about setting your agency up to succeed – no matter what the market does next.

Ready to build more resilience into your property management operations? See how Console Cloud can take the pressure off your team and keep your agency moving forward with confidence (or simply enter your details below and we'll get in contact).