Let me paint a picture here…
You’re sitting at your desk, scrolling through Facebook…
And you’re watching your competitors growing their rent roll…
They’re growing so fast…
Like, a new management every single day!
And you’re watching these other BDMs who are killing it.
10 – 20 new properties signed this month!
You’re listening to the podcasts…
Watching the videos…
Reading the articles…
“How to grow your rent roll by 100 properties this week!”
(Well, maybe not 100 properties in one week, but BIG numbers in small time frames)
And each time you see these posts on Facebook, your heart breaks a little.
You’re sitting there thinking….
“What’s wrong with me?”
“Why isn’t my rent roll growing?”
“Why can’t I get the results that BDM is getting?”
The truth is, there’s a reason you’re not growing as fast as everyone else…
The entire time I was growing my rent roll, I felt inferior, because I wasn’t growing as fast as the BDMs down the road.
The ENTIRE time!
I mean, not a day when by when I didn’t compare myself to my competition.
Marie Forleo calls this process of comparing yourself “taking a shot of compareschlager”. Marie will tell you that comparing yourself to others is a fast way to steal your own joy. Seriously, if you want Marie’s take on comparison, check out her video on comparison here.
But there’s actually a legitimate reason why you’re not growing as fast as everyone else.
(And let’s be honest, it’s not EVERYONE else is it? It’s just the people you’re choosing to focus on and compare yourself to, right?)
So, here’s the reason:
You CARE more than they do.
Let that sink in for a minute.
You care more than they do.
You care about your landlords.
You care about your tenants.
You care about your tradespeople.
And you care more than they do.
So, you know what this means?
It means you take longer showing tenants through a rental property.
When a tenant’s application comes in, and you had a good feeling about them, you work longer and harder to get it processed and approved.
At the entry/ingoing condition report, you take longer getting every last little detail written down, photographed and videoed – just in case!
When you’re signing a lease with a new tenant, you take a little more time to make sure they really understand how this process works, and have all their questions answered.
When a landlord is stressed about a big maintenance project that they really can’t afford, you take the time to figure out how to help them budget this expense.
You care MUCH more than your competitors do.
And that means that you spend MUCH more time on each individual person than your competitors do.
You likely spend 4-5 times longer with each client than your competitor does.
Which means you can only handle 20-25% of the growth.
So, if they bring on 10 – 20 properties a month…
That means you can bring on 2-5 properties a month…
Do you feel what I’m saying?
Think about how much you care about your clients, and tell me…
Do you care more than your competitors?
Yup, I thought so.
Now, there’s actually another reason you’re not growing as fast.
It’s because you’re IT!
If you’ve started a rent roll from scratch, you have to be responsible for absolutely everything in your business.
Know what I mean?
So, how could you POSSIBLY compete with a full-time BDM?
A full time BDM, who is hitting 20 new properties each month isn’t responsible for everything you’re responsible for.
When you first start a rent roll, you’re doing everything!
Answering the phones…
Receipting the rent…
Plus, you’re responsible for the growth of the business.
So, please give yourself some credit.
You’re growing as fast as you can.
Sure, you’re always looking for ways to improve your growth…
And you’re probably also looking for ways to improve your productivity in other parts of your business…
This is great!
Keep doing that!
But also give yourself some credit for everything you’re juggling.
Give yourself some credit for the care you have for your clients.
Give yourself some credit for the time you spend with your clients.
And give yourself some credit for growing at the speed you are.
And if you need some extra tips on how to grow your rent roll, join my free mini-course: The 5 Step Action Plan for Rent Roll Growth (and yes, it’s designed for you, the rent roll owner!)
If you haven’t seen my last blog titled 3 Biggest Regrets From Running My Rent Roll be sure to check that out next!