ntegral to the success of any real estate agency is an ever-growing, good quality rent roll. The more properties you manage, the more contacts you have for potential buyers, sellers and investors. A strong rent roll also counts as an asset when it comes time to sell in the future. As a smaller agency looking to grow, you may find yourself faced with the decision of whether to build your rent roll from scratch or buy one ready to go.
How to to use systems and processes to increase your rent roll value
Thanks to your rent roll, you are receiving commission for collecting rent and managing properties on behalf of your landlords. But if you are considering selling your rent roll, what would give it extra value? A poorly organised rent roll can impact your profits. By introducing online systems and initiating a better level of consistency, you will be able to eliminate stumbling blocks and leverage your rent roll for maximum results.
How to recruit property managers your landlords will love
One of the pivotal roles in any rent roll is the property manager. Typically, the property manager role is relatively temporary, and seen as a fairly junior role. It is not uncommon for the receptionist to move into a property management role as they become familiar with the processes and system in place in the agency. It is also quite common for these employees to be younger and more ambitious – which means they are easily tempted into roles with better pay and more responsibility. To put it plainly – they are easily poached by other agencies.
The care and maintenance of Landlords in a rent roll transition
Because a rent roll transaction is largely the transition of relationships, the way the landlords are informed and managed is vital to the success of any rent roll sale. In terms of the landlord’s options at this juncture, the rules vary from state to state. In Victoria for example, the landlords on the rent roll are given notice by the Vendor selling the rent roll that the assignment will happen within 14 days should they not object to the assignment. In N.S.W. the requirement is to obtain a new authority in the name of the purchaser.
Women’s Property Initiatives - finding homes for women in need
For most of us, home is our safe place, a haven where we go to relax at the end of the day.
It is sobering then to read that for one in four Australian women, this is not the case. According to a report from Australia's National Research Organisation for Women's Safety, this is the number of women who have experienced at least one incident of violence from an intimate partner.
Being in this kind of situation can make ‘home’ a scary place.
In response to the crisis of domestic violence in Australia, Women’s Property Initiatives was established as a registered housing provider and licensed estate agency. The goal of this important organisation is to provide high quality, safe and affordable housing to disadvantaged women and their children.
The women who come to live in housing via WPI are only charged 75% of market rental rates. The properties are ‘community’ housing rather than ‘public’ housing, meaning that they are fully funded by WPI rather than through the Government’s Office of Housing.
This highly necessary property initiative is not only available to women who have suffered from domestic violence. In recognition of the fact that women are more likely to face discrimination when it comes to rental accommodation, WPI also helps to organise affordable housing for women who are suffering financially, particularly as single parents.
The team at WPI focuses on development opportunities, purchasing land and property in order to increase the supply of long-term rental houses in metropolitan and regional Victoria. Currently the properties in this not-for-profit’s portfolio range from an apartment block in Footscray to several fully detached houses in Epping North and Truganina.
By helping to provide places to live for disadvantaged women, Women’s Property Initiatives hopes to create a valuable return from them as well as the wider community. The benefits of providing affordable housing include:
Reducing intergenerational poverty
Reducing the costs of welfare, counselling and rehabilitation to the Government
Improved mental health of children
Better academic performance for children
Better employment opportunities for women
The team behind Women’s Property Initiatives include lobbyists, financial experts and property experts. CEO and Principal Estate Agent Jeanette Large has extensive experience across the housing sector and in 2015 was named a Victorian Finalist in the Telstra Business Women’s Awards.
As a not-for-profit organisation, Women’s Property Initiatives runs largely on donations from philanthropic organisations as well as support and pro bono work from Victorian councils and businesses.
Anyone from the public or the real estate industry is welcome to make a donation to this worthy cause via the website www.wpi.org.au.
BDH Solutions are rent-roll agents with over 30 years experience in connecting the right vendor with the right purchaser. To stay up to date with our latest listings, register here.