On the Couch with M&M | SHOULD YOU BUILD OR BUY A RENT ROLL?
HOW YOU CAN GROW YOUR PROPERTY MANAGEMENT DEPARTMENT
Property Management is an exciting department that can benefit your business and help you reach your business goals. However, if you don’t have a clear understanding of what the opportunities are in your market, you may find starting a rent roll or expanding your existing rent roll into a new area, challenging.
In today’s episode, we’ll help you make an informed and well-calculated decision by providing you with tips of what steps you should take to ensure that your rent roll will benefit your business. We’ll discuss how the size of your rent roll, number of property managers in your team as well as whether you’re in growth mode or profit mode, will determine what path is best for your business.
Watch today’s episode for tips and strategies for how you can effectively build a rent roll in your real estate business.
We hope you enjoy this episode, and as always, please feel free to share the post or tag someone you may think will benefit.
Thank you, M&M
2:05 – The importance of Starting a rent roll
2:40 – Reaching critical mass and profiting from your rent roll
4:00 – The challenge of selecting and retaining your property management team.
4:20 – Has your market got the capacity for you to establish a sizable rent roll.
4:32 – What size should your rent roll be?
5:36 – Using your profits to grow the rental department
6:10 – How opportunity costs in the rental department can impact your business
6:52 – The benefit of a larger property management team.
7:40 – Outsourcing opportunities in Property Management
8:10 – Are you in growth mode or in profit mode?
8:26 – Reaching 500 rentals: where you leverage both growth and profit.
9:24 – The challenge of shrinkage and how it can hinder the ROI on a purchased rent roll
10:32 – Acquisition: purchasing to get cash flow,
10:57 – Reducing debt requires capital injection
11:29 – The 3 steps you need to take before you start building a rent roll.