Empowering Property Management
22 Strategies For Growing Your Rent Roll
1. Provide incredible service to your existing customers.
Growth all starts with retention and retention starts with looking after your customers. Check out our Top 10 retention Tips.
2. Be an expert.
Owners of investment properties will only trust you if they believe you know their situation. If your owner is a property investor then understand what numbers motivate him. Is it yield or capital gain? How leveraged is the owner?
3. Network with real estate agents.
Sales agents are a large source of new leads. Meeting regularly with successful agents is important.
4. Use Linkedin.
An online social media tool for networking with professionals and in particular real estate agents.
5. Ask for referrals.
Happy owners will have friends who are owners.
6. Ask friends and family.
Ask them to refer potential customers.
7. Offer prospects a deal they cannot refuse.
It’s never advisable but reducing your management fee, or other fees can secure you a deal.
8. Adwords.
Google search is a place that a number of owners will look when seeking a property manager.
9. Be the first to respond.
Owners will often be comparing companies. Be the first to respond and you will have more chance of winning.
10. Partner with local businesses
Running a shared promotion e.g. an Investor evening with a property developer or a coffee group with at a cafe can be beneficial to all involved.
11. Join BNI
A proven effective strategy for growing your rent roll (but do have to get up early)
12. Promote your listings exceptionally.
Owners will be looking to see what properties are renting for in their neighbourhood. If your listing (online or in-store) stand out and look professional then that will attract new owners to you.
13. Email marketing.
Buy a list of owners in your region and send them emails promoting your service.
14. Facebook ads
No better way to target your specific audience.
15. Hunt competitor clients.
Find out who they are and find out what would get them to change to you.
16. Join the school PTA.
Schools are a fantastic source of leads and networking opportunities.
17. Stage your properties for inspections.
Beautiful inspection pics show your owner that they care and attracts good tenants.
18. Partner with tax agents and accountants.
Become their preferred provider of property management services.
19. Attend industry events.
Be a guest speaker at a property investor event.
20. Try bricks and mortar advertising tactics.
You can run an ad in the local newspaper, send out flyers, billboards etc
21. Have a beautiful office.
A retail office space with frontage or space for signage will attract customers.
22. Sign a written vehicle.
One of the best value for money things you can do is sign write your car. Everywhere you go on an average day you will be promoting your business.
Kick off 2020 with a
About the author
Rueben is a consultant at Hamish Turner & Associates. He is an entrepreneur with 20 years of business experience in a number of sectors. In the past decade, Rueben has worked in a handful of technology startups (e.g. Timely) in the area of digital sales and marketing. In addition, he has run a social media marketing agency since 2013 providing social media services and digital marketing services to small businesses across NZ. He also owns a property management company in Dunedin.
You can check out more about his background and follow his VLOG on his Linkedin profile.
