innovations in property management
DESCRIPTION
Jason Rose, Chief Digital Officer and General Manager (New Business) at Rental Express presented at The Business Of Real Estate held on 1-3 September 2014. #rebiz14TRANSCRIPT
Jason Rose Rental Express
Innovations in Property Management
Innovation !in!
Property Management!350 to 4174!
Properties Under Management!In 10 Years
A brief history of Rental Express
• Started in 2001 with the purchase of Harcourts Paddington for $6000 by three partners aged 27,22 & 21
• Traditional based agency that focused on sales and got into property management by a natural progression
• 2004 at 350 properties under management
• 2005 decided to get serious about Property Management & put on our first 2 BDM’s
• October 2006 sold the sales business, made 3 acquisitions, rebranded to Rental Express & a total of 2000 properties under management
1st September 2014
A brief history of Rental Express
• 4174 properties under management
• 5 offices (4 in Brisbane & 1 on the Gold Coast) plus 1 remote office
• Our Kallangur office in 6 years has grown to 1204 properties under management organically
Our Numbers
Average rent $377.38
Average Management Fee 7.56%
Top 2 TipsFor Building a Rent Roll
Margins Expectations!
Workload!Legislation
Blockages To!
Business!Success
Software People/Training!
Outsourcing
Tenant Booking System Key System!
Referral System
MVP
“We have two clear choices when it comes to change.
Change and grow, or don’t and die.
Change is not a yes or no. It is a yes and how”
Are You Receptive !To Change?
Do you have a playbook?
Dumb Stuff We DoShit
Does your policies and procedures make it difficult !
for people to do !business with you?
How often do you disperse funds to owners?
NPSNet Promoter Score
RELSRental Express Loyalty Score
How Many Properties Can A Property Manager Manage?
Who The F*!# Cares?
Staff to Property Ratio1:65
How to Pay!Property Managers
1. Telephone Headsets 2. Address Book in Phone System 3. Tenant Signup Video 4. Email Templates 5. DEFT Payment System 6. Cleaning Kit 7. Scanning Efficiency 8. Owner Sales Appraisals 9. RPM Updates
The Toyota Way Continuous Improvement
The First Nine
Average Rent = $380.42
Average Management Fee = 7.89%
Rent Roll Multiplier = $3.00Asset Value = $4,424,831.64
New Managements = 945
Cost of Acquisition = $1,039,500.00
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