Register for our FREE Masterclass:
5 Ways To Grow Your Rent Roll
When you’re a new rent roll owner, you get overloaded with work pretty quickly
You have to be everything to everyone, especially when you first start your rent roll.
You have every single job title… You’re the:
Trust Account Manager
Social Media Manager
Office Events Coordinator
It’s no wonder you feel overloaded and overwhelmed. I certainly did when I owned my rent roll.
So, there comes a time when you need to take the leap and get some help in your business
But how do you know whether to hire a local employee (to help you on the ground) or a virtual assistant (to help you remotely?)
I have 3 simple steps to take to help you figure out who to hire!
Figure out your “Zone of Genius”
What are the tasks that you’re brilliant at? These are the tasks you should keep doing yourself.
I often find that for rent roll owners, your zone of genius tends to be talking to people and bringing new business in. No one else can ever communicate the true heart of your business the way you can, and no one cares about your clients quite as much as you do.
There are often other activities that you’re good at too. Maybe you’re really fast (and yet thorough) doing your ingoing/entry condition reports. Perhaps you have great ideas for your social media content.
Once you know the top 3-5 activities that are the absolute best use of your time, you know what activities you’re NOT going to give to an employee or VA.
What is boring for you?
Maybe you get really bored receipting rent. Or maybe you hate doing routine inspections. Perhaps you love coming up with social media content, but you don’t like spending the time posting every day/week/month? Do you love showing tenants through properties, but HATE processing applications?
Having a list of all the things you find boring, will allow you to write a job description for your next team member. You can list all these activities and work out how long each day or week it would take another person to perform these tasks – so you know if you’re looking for someone full time, part time or casually. Again, this person might be a local employee or it might be a remote virtual assistant.
What are ALL the options for getting these tasks completed?
Once you have a list from step 2, research all the different ways you could get these tasks performed. Remember to write down ALL the options you can think of, including the options you KNOW you’ll never do – it helps you stay creative, trust me.
Your list might look like this:
I could keep completing them myself the way I have been completing them
I could do video routine inspections, then get someone else to type up the report and send it to the landlord
I could outsource the routine inspections to a professional inspection company
I could hire a local employee to complete the routine inspections for me
I could keep managing the trust accounting myself
I could hire a local employee to complete the trust accounting for me
I could hire a professional trust accounting service to manage the trust accounting for me
I could hire a virtual assistant (locally or overseas, depending on your requirements) to manage some or all of the trust accounting for me
With your lists completed, you can research the expense for each option, the training investment required for each, and decide on which option is going to be best for you.
I’ve also created a guide titled The 4 Questions You MUST Ask Yourself Before Hiring Or Outsourcing To A Virtual Assistant, which will give you some extra topics to consider before you take that next step. You can download that guide here.
If you haven’t read my last blog titled “How To Make Money in a Small Rent Roll”, be sure to check that out next!