EPMEPM: First Person

Predictable growth

What do you do when you want to grow your rent roll but the small stuff keeps getting in the way? Tara Bradbury explains how you can create a plan for predictable growth.

Just when you thought you had all of the pieces of the puzzle together, another tech program is released, legislation changes and you are in a spin.

Clients’ expectations continue to rise, and it can be hard to find time to grow your rent roll.

This year I have spent time ensuring the predicable has a refined process, so when the unpredictable hits I’m ready for the challenge.

It would be easy for me to tell business development managers to make this many calls, have this many listing appointments and sign this many new properties in 12 months and you will be an award-winning rent roll growth master.

However, the reality is this journey is completely different.

Those recognised as top-performing business development managers know it is a roller coaster ride of excitement and pain every day.

We don’t know why we keep doing it, we question ourselves every five minutes and then we make that one follow-up call and the prospective landlord says: “We would love to have you manage our property”.

The adrenaline rush kicks in and we are reminded of why we started.

We celebrate the commitment we have made over the past 12 months, we start to see opportunity from our efforts, KPI performance, and we once again understand why so many love the property management industry.

You are probably reading this and wondering how this can become your reality. What do you need to do next year to double or even triple the size of your rent roll over the next 12 months?

For me, and many of my top-performing business development managers, we focus on the following key areas daily, weekly and monthly to ensure we are on track for a high-performing, 12-month period.

These are the predictable tasks I can control and have a process for each day:

  • Calls made
  • Call connections achieved
  • Social media posts
  • Social media story posts
  • Collaboration and influencer work on social media
  • Educational videos
  • New listing videos
  • Success story requests from clients
  • Referral partner meetings
  • Networking events attended
  • Sales team meetings
  • Property management team meetings
  • Community service work
  • Email marketing
  • Just listed/just leased flyers
  • For lease and leased signage
  • Appraisals achieved
  • New business signed
  • New business income-producing.

These are the unpredictable tasks that pop up:

  • A new lead from the website
  • A new lead phones in
  • A new lead wants you to meet for an appraisal the same day
  • A prospective landlord has additional questions before signing
  • The property you just listed has been broken into, and you need to meet the police at the property
  • You find out you have two approved tenants for your property as one couple have email evidence. Someone you have never heard of approved them, and they paid a bond to a fake solicitor. You help police with the investigation
  • You are unwell and need 24 hours to recover
  • The school calls and you need to pick up your injured child immediately
  • That golden tenant wants to look at your listing at 9am on a Sunday
  • A team member is struggling with the workload and needs to talk through their plans before they have a breakdown
  • Your car is getting serviced, a new lead calls and they are at the property now.

If you can master the predictable and have strong processes and expectations around these areas, you can manage the unpredictable as it happens.

Too many of us, including myself, allow the unpredictable to run our day. We give up and forget that tomorrow is another day of opportunity.

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Tara Bradbury

Tara Bradbury is the Director of the BDM Academy sharing her business development ideas and strategies with property management BDM’s and Principals. For more information visit bdmacademy.com.au.