How Big is your rent roll?
Recently I took a call from a lady with real estate experience and now looking to start up a Property Management business. She is looking to start out small and grow as she goes. I speak to a lot of people looking to start out with small rent rolls or operating small portfolios of less than 50 managements. My advice is always to get to 100 fast and then be ready for new challenges.
At 100 managements you can generate a profit, but profit and growth at 100 is the difficulty. This is one of those scenarios where it’s likely you will need to put the cart before the horse and recruit the staff and implement the systems that will allow it to both drive growth and handle the new business.
Once you are over 100 organically grown managements you have more ability to purchase a rent roll to initiate immediate increased cashflow. You can also generate greater leverage within the business in terms of both more growth and disbursement of tasks by way of staff.
Feel free to utilise our knowledge and years of experience in rent roll growth.
If you are looking to start out or are currently operating a small portfolio and need to generate growth quickly, talk to us today on p: 3266 4242 m: 0413 879 986 or e: firstname.lastname@example.org.