In this episode of the Get Keen Podcast, host Dan Lee welcomes his business partner Dylan to discuss the importance and benefits of establishing a rent roll in real estate businesses. They share insights on the initial challenges of building a rent roll, highlighting that while there may be limited income and higher expenses at the beginning, significant profits can be achieved with growth—specifically noting that breaking even typically occurs around 300 properties, with profits emerging at around 400. Dan emphasizes that selling principals should not manage rent rolls themselves and outlines three crucial tips for agents looking to start their own rent rolls. Tune in to gain valuable strategies and insights that will help you enhance your real estate career and build a successful agency.

Are you a high performing agent ready to break out and build your own agency? Book a call to see if our Plum Partners System is the right fit for you: https://system.plumpartners.com.au/plum-partners-system-vsl-opt-in

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Timestamps

[00:00:00] Introduction

[00:02:40] Starting a rent roll.

[00:04:44] Growing a rent roll organically.

[00:09:11] Building a successful rent roll.

[00:14:20] Selling principals and property management.

[00:16:33] Property management as a business.

[00:20:37] Sales activity for rent roll growth.

[00:23:11] Importance of online reviews.

[00:27:34] Hiring and employee culture.

[00:29:14] Treating property managers well.

[00:36:09] Launching a rent roll business.

[00:37:04] Fast tracking agents' success.