I remember it like it was yesterday…
Sitting in my spare bedroom at home (which had been converted into my office)…
Looking out the window at the torrential hail bucketing down…
Wondering how many of my properties were going to be damaged…
Knowing that it was entirely my responsibility to get these houses fixed.
I remember the feeling of terror as the phone started to ring…
And I began to take details of all the damaged properties, flooded garages, collapsed retaining walls and lost electricity.
“This is my mess to clean up” is all I could think to myself.
But cleaning up the mess of a severe hail storm isn’t the only job I have to do…
I still have to receipt the rent each day…
Balance the bank reconciliation…
Continue with this week’s routine inspections…
Organise about 5 lease renewals…
Chase up maintenance from last week…
Reconcile Xero…
And on top of all that, I have to grow my rent roll!
If I’m honest, I don’t know what’s harder…
Growing a rent roll
Or growing a rent roll by yourself.
But I’m here to tell you the absolute, honest truth about growing a rent roll…
It’s hard.
Growing a rent roll is hard work.
I don’t think that anyone can prepare you for the work that’s involved in starting and growing a rent roll.
The hours.
Oh, the hours you put in…
The stress.
The moments I sat on the floor and cried about a crazy landlord who was making my life miserable.
Those moments I cried made me wonder why I had even bothered starting a rent roll in the first place.
I’m not telling you this stuff to “bum you out” about your own rent roll…
But I want you to know that in those moments when you wonder if it’s EVER going to be worth it…
I’ve been there…
I’ve felt the same…
I’ve questioned my decisions…
I’ve cried countless tears…
And had sleepless nights…
I’ve had MANY moments when I wanted to walk away from my rent roll and leave the industry…
But the sun comes out eventually (metaphorically… not just after the hail storm I mentioned earlier)
There’s a sweet spot.
Somewhere between maxing out your workload…
And getting some help in your rent roll (whether it’s a local employee, outsourcing, using a VA or whatever)
A moment when you “see the light”
You’re finally earning a wage…
Your working hours become more reasonable…
Or you just have a change in mindset, that makes it all more manageable.
Whatever the breakthrough is…
It comes.
And it’s worth it.
There will be times when it’s hard.
But it’s worth it.
Truly it is.
I don’t know if today’s blog was written for you… or if it was written for someone you know…
What I do know is…
Our industry is too quiet about how flippin’ hard it is to grow a rent roll.
And it’s time to tell the truth about growing a rent roll.
It’s hard.
You’re an absolute champion for doing it.
And it’s worth it.
So, here’s to your success.
Are you a business owner growing your own rent roll and need someone to talk to? Book a free strategy session with me here.
If you haven’t seen my last blog titled The ULTIMATE Letterboxing Formula be sure to check that out next!
