Blog / Property Management


Andrew Reece, MPRs Are the key to rent-roll growth


Andrew Reece

Growing your rent roll is often perceived as a difficult job but sometimes, the simplest ideas can have the biggest impact. I learnt a simple concept at an AREC conference 10 years ago that helped make the job of building a rent roll so much easier.

The Idea

It is easier to focus on one person who can deliver you 10 properties, rather than 10 people who only deliver one property.

That may seem very obvious, but over time, we found out that it really works – and Multiple Property Referrers (MPRs) became one of our three most successful strategies for growing our rent roll.

What is a Multiple Property Referrer?

A Multiple Property Referrer is anybody who comes into contact with property investors regularly during the course of their work.

There are a number of occupations that are likely to deal with property investors on a daily basis, and therefore be a source of potential MPRs. Some of these occupations include conveyancing solicitors, real estate sales people, property marketers, bank managers, mortgage brokers and quantity surveyors – anyone who is involved in the process of purchasing property.

Identifying potential MPRs is easy – all you have to do is look in the Yellow Pages (or, for Generation Y, get onto Google). The more difficult part of this process is building and maintaining positive working relationships with your MPRs.

Contact is the key

Like any relationship, good communication is the key to developing your MPRs. If you want someone to help you grow your rent roll, you need to be genuinely committed to regular contact with the MPR. That means keeping them informed about progress on the lead they have referred to you, every step of the way.

The referrer wants to be reassured that you are doing the right thing with their referral, and looking after the potential new client.

The best way to demonstrate this is to call them at every stage, such as:

  • When you first receive the referral lead
  • When you first make contact with the potential new client
  • When you have successfully secured the new business
  • Every week during your search to find a new tenant (if vacant)
  • When you successfully rent the property
  • During your monthly face-to-face visits with your MPR

All this contact provides a great opportunity for you to “thank them for the lead” and ask the MPR if they know of any other potential clients you could help.

The tools to regular monthly contact

An easy way to maintain regular contact with your MPRs is to develop a range of branded promotional items that you can deliver to them during each face-toface visit. The key is to ensure that the promotional items are relevant to the individual MPR.

For example, real estate sales people require certain items to fulfil their jobs such as torches, hammers and key rings. Quantity surveyors love tape measures. Conveyancing solicitors require pens and notebooks. And from my experience, the most popular item is a large golf umbrella, especially when it is delivered on a rainy day.

Each gift was hand-selected and branded with a “call to action statement” by our team within a $10 budget range, and purchased many months in advance so that we had plenty of stock available for delivery.

Why do MPRs refer potential clients to property managers?

I believe that the major reason that MPRs refer business to property managers is to ensure their client is looked after – because their reputation is enhanced by your good service. If you want to get more MPRs and more referrals, the solution is simple – you need to deliver top-quality service and keep the MPRs informed every step of the way. And if your MPRs are happy with your service, it could be even better for your business. That’s because the best way to get more MPRs is to ask a happy MPR for another referral.

Get this right - and watch your rent roll grow.

Andrew Reece is the co-founder of Prorentals.com.au, InspectRealEstate.com.au and GrowMyRentRoll.com.au  


← Go back
Andrew Reece