Dear Holly, I have been building my rent roll over a number of year. Simply by word of mouth and natural growth incorpoarting sound efficient service/s. It all pays off. With this I developed my own monthly Properrty Management newsletter. I add every business card email address that I can find to my email database to further extend my newsletter circulation. Also I go to lots of business forums and local neighbourhood meetings where I secure managements from here. But most importantly – You need a Point of Difference. Good luck. Intersted to read more from others. Russ Stanistreet – Stanistreet Realty. www.stanistreetrealty.com

check out another forum on here – Growing The Rent Roll…I’ve just purchased the book by Paula Fysh (who’s on here) called 52 Ways To Build Your Rent Roll – just received it today and read a few things, sounds good.

Go to conferences on the subject – check out BWT, very good PM training

Read, read, read!

Know your area, your PM staff and services really well and importantly KNOW your client

Try not to worry too much about what other offices are doing and focus on YOUR stuff (I’m still learning to do this myself)

Try different things and see what works

Make contact with investors and potential clients perhaps through your sales staff?

Build relationships with people – Property Management isn’t a short term thing, it can take quite a bit of time to develop that enough to gain rentals

Offer a monthly newsletter such as Espresso that’s offered through apmasphere here

Thanks Maxine! Visit www.bwt.com.au

Hi Holly,

I am in the same place as you, building a new rent roll and although some other ideas have brought in a couple of managements here and there the best thing for me has been word of mouth. I work very hard to make sure everyone gets what they want and need, I know my clients needs before they ask for them and make sure everything is running smoothly!! In the last quater word of mouth brought in 85% of new managements with the rest being people who were looking at local agents or through the sales department.

Best of luck but give your self time and set realistic performance goals for your growth :).

Sounds great Sarah- good on you! :)

And you’re welcome Bob, the Masterclass 1 day Conference was the BEST training/conference I’ve ever been to in Property Management!!!!

Holly I hope you’re able to take some ideas away from this discussion and try some that end up helping you :)

Thankyou everyone for your input.

We have set some realistic goals and have a marketing plan in place. We are also looking for ideas of advertising that we have not seen in our area – such as 2 months free fees for referrals. Slowly but surely we will get there! As you have all said, it is going to take time.

Thanks again for all your input!

Hi Holly,

I read your last comment regarding offering free management fees. I currently run this promotion and don’t charge a commission on the rent or water usage collected for the first 3 months. The owners still pay all other fees (an admin fee, letting fee, lease fee etc).

I don’t know that it has encouraged a lot of people to sign up but it does assist when some people want to negotiate my standard fee of 7.7%. I explain that over the first 12 months their management fee equates to 5.8%. If they don’t believe the service is worth the 7.7% then I am happy to discuss at the end of the first 12 months.

Also check out: http://www.justrentsydney.com.au/ReferralRewards/tabid/584/Default.aspx

If one of my existing clients refer someone who signs up, I reward them with an additional 3 months free management on ALL properties currently under management.

I also pay a $100.00 referral reward to ANYONE who refers someone to me who signs up. A lot of people are quite embarrassed to accept it so I suggest donating it to a charity.

I have the 3 months free offer and the $100.00 referral reward on my business cards as well as 2 testimonials on the inside of the cards.

Hi Maxine

Keep an eye out for our next seminar series “Peak Performance Rent Roll – Profit and Growth” - watch this space ! 

Dea Bob

Lokk forward to your seminar/s. Pls email me direct with info or dates, etc. Russ. www.stanistreetrealty.com   Email: info@stanistreetrealty.com

Kind regards Russ