Peter Mitchell retires from Orange property management after 25 years | West Central Daily

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ORANGE’s difficult rental climate should ease by the end of the year according to Orange property manager Peter Mitchell, who announced his retirement this week. After 25 years in real estate, Mr Mitchell said the changing landscape of property management led to his decision, but he had positive insight for people struggling to find rental accommodation at a affordable price. “I think mining is the thing that’s going to slow down a bit, when they don’t have all their contractors in Orange,” he said. Newcrest Mining received approval in December last year to further expand its processing capacity at Cadia, but Mr Mitchell said he believed some of that work would be completed as early as May. “It could throw another 30 properties on the market,” he said. “When this vacancy rate reaches 200 [properties], then rents will start to fall. “It just can’t go on because the pay versus rent is just out of whack.” He added that there were already signs of a cooling in the rental market, with 112 units vacant in Orange on Monday. “It’s 30 to 40 more than since Christmas,” he said. Mr Mitchell said that, like most industries, technology was one of the major changes he had witnessed in his quarter century in the game, but the changing relationship between landlord and tenant was also in the foreground. “The younger generation tends to talk about dollars and cents rather than relationships,” he said, explaining that there was a need to create a strong bond between landlord and tenant. “During COVID [one of my landlords] had a few clients who were struggling, one was a hairdresser and the other an old man, who had been there god knows how long, and she just said it wasn’t about the money, s ‘looking after tenants’, he said, explaining the reliable tenants who looked after the property, should in turn be respected by landlords. Now he said the rental market was a “hodgepodge” of inconsistent rates, skewed by haves and have-nots. “You have landlords with little or no mortgage who are after a good tenant, not the best price. You have younger landlords with a lot of mortgages who want top dollar.” So you have this mix- hodgepodge of fluctuations.” On the positive side, Mr. Mitchell said the freedom of owning his own business and the long-term relationships established with customers and, in some cases, their second generation, were among the rewards of his career.” I like it when people come up to me and tell me I bought a house. I think it’s fantastic, it’s good when they buy something, especially a young couple, when they have a bit of a lead. When you pay $500 a week, [in rent] saving is not easy. “I think it doesn’t really matter what friends you make, whether tenants or landlords, I treat everyone the same.” Mr Mitchell, who works alongside his wife Helen, has around 300 properties on his books, which will be transferred to Scott Quirk of Orange Real Estate. Ms. Mitchell will continue in her role. And his advice to people considering a career in property management? “I think you’ll be fine if you tell the truth. It doesn’t matter what form of real estate you do. If you tell the truth, you’ll be fine.” To read more stories, download the Central Western Daily news app from the Apple Store or Google Play. TELL ME Send a letter to the editor using the form below