What is the secret to building a successful property management agency?
Consistently growing your rent roll. But with new players entering the market and landlords on the hunt for the best deal, how can you position your agency as the only choice when they are looking for representation?
Great property management agencies are doing these five things to grow their rent roll and build their brands to ensure their long-term success:
- Don’t use other rental listings as the benchmark of best practice. Your clients are looking at sales listings and expecting that same level of professionalism and quality. The catch? Landlords are typically price sensitive, so property managers need to be clever about who they partner with to create the best rental property assets. You don’t have to spend a lot to really raise your standards, particularly with Little Hinges 3-in-1 property management pack designed to help you create sales-quality listings for a fraction of the price.
- Talk up your successes and capture word of mouth. One of the biggest drivers of rent roll growth is referrals, and sharing your wins with your current clients gives them something to talk about next time they’re asked to recommend a property management agency. Share with your landlords how you’re using 3D, millimetre-accurate virtual tours to answer tenant and landlord questions and source quotes from trades, instead of requiring an in-person site visits that can take several hours of a PM’s time and disrupts the tenant.
- Leverage technology to do the dirty work so you can spend time on the stuff that you’re good at, which is building relationships. With property managers leaving the industry in droves, finding and keeping the best staff to deliver excellent service will require taking advantage of technology that removes repetitive and time-consuming tasks that add little value.
- Show landlords how you’re protecting their biggest asset. Technology such as 3D virtual tours can be used as entry and exit reports, demonstrating to landlords your commitment to protecting their asset. Millimetre accurate, time-stamped tours capture a property exactly as it is, which also allows trades to quote more accurately, ultimately saving the landlord time and money.
- Shortcut the time it takes to get properties rented. Little Hinges 3-in-1 PM pack can shortcut the time to get properties rented, often doing away with the need for physical open homes, particularly for tenants looking to rent from interstate. Even in a tight rental market, getting properties tenanted quickly and for the best possible return is one of your biggest selling points to a new landlord.
Little Hinges have introduced a new 3-in-1 property management pack designed to help property managers level up their listings and grow their rent roll.
Property managers can pay closer to $300-plus when sourcing assets to manage and promote a property, often with fewer images and inclusions.
Little Hinges sales-quality, 3-in-1 property management marketing pack costs just $199, and includes:
- 10 x HD images
- Custom, branded floorplan
- 3D, millimetre accurate virtual tour.