6 Rent Roll Growth Strategies

Growing a rent roll requires innovative and strategic thinking. Which means, it’s not enough to rely on traditional methods alone. As a business development manager (BDMs), you need to explore rent roll growth ideas. Here are some impactful strategies to help you grow your portfolio.

Optimise The Existing Portfolio

One of the most overlooked strategies for rent roll growth is optimising the existing portfolio. Retaining current clients should be a top priority. By providing exceptional service, conducting regular property reviews, and promptly addressing concerns, you can minimise churn. As Ewan Morton says, “The best way to grow your management is not to lose them” . This approach not only solidifies your current base but also builds your reputation further, attracting new clients through positive word-of-mouth.

As a BDM, consider how you can partner with your property management team to optimise the existing portfolio, and stay in close contact with landlords who were originally your contact, and maintain those relationships, beyond listing and leasing the property.?

Offer Value-Added Services

Expanding your services beyond the basics can significantly enhance your value proposition. Introducing value-added services like investor support services, investor growth sessions, and educational webinars,? can provide additional benefits to your clients. These services help your clients make informed decisions about purchasing additional investment properties, thereby expanding your rent roll. By positioning yourself as a comprehensive service provider, you become an invaluable part of your clients’ property investment journey.

Partner with Local Businesses

Building a strong referral network can be a game-changer for your rent roll growth. Partner with local businesses such as mortgage brokers, solicitors, and even less obvious partners like your hairdresser, barista, or car detailer. These partnerships can create a steady stream of referrals from unexpected sources. For example, your local cafe might have customers discussing their property needs over coffee, and a simple referral from the cafe owner could lead to new business opportunities.

Target Niche Markets

Identifying and targeting niche markets is another powerful strategy. Whether it’s luxury properties, student housing, or eco-friendly homes, niche markets allow you to differentiate your services and tap into underserved segments. By specialising in these areas, you can attract clients who are specifically looking for tailored services. This diversifies your portfolio while increasing your market reach.

Conduct Regular Market Research

Understanding current and future market trends, client needs, the economy, and the news, is important. Regular market research enables you to adapt your services to meet changing demands and stay relevant. This proactive approach ensures that you are always offering the most current and in-demand services, which can attract new clients and nurture your existing ones.

Invest in Staff Training

Your knowledge and the knowledge of your team is your most valuable asset. Investing in staff training ensures that your team is well-versed in customer service, property investing strategies, and the latest industry regulations. A well-trained BDM and Property Management team can provide first class service, which builds client trust and satisfaction. When clients know they can rely on your team for expert advice and efficient management, they are more likely to stay with you and refer others.

Innovation and adaptability are some important keys for continued growth. As BDMs, you are responsible for the growth within your organisation. Implementing these rent roll growth strategies will not only expand your portfolio but also enhance your reputation as a professional leader.?

Ready to RISE? Let’s talk about how I can help you develop personalised strategies tailored to your goals in your role as a BDM.

Keep RISING!