GOOD MORNING FROM ELITE AGENT

Happy Galentine’s Day! Today is all about celebrating female friendships - and let’s be real, no one needs a strong support network more than women in real estate. Whether it’s venting about that buyer who ghosted you after 17 inspections or cheering on a colleague who finally got an offer on that listing with the questionable “vintage” carpet, real estate besties keep each other sane.

Yes, we know this day is a prelude to the big one, but who are we to argue with badass fictional character Leslie Knope from Parks and Recreation who unofficially added Galentine’s Day to our calendar 15 years ago.

Today’s read time: 5 minutes, 26 seconds.

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OPINION

Hidden risks in rent rolls could be costing agencies thousands

For many real estate agencies, a rent roll is the backbone of their business, providing stable income and adding goodwill value.

However, according to Tarsi Taylor, Director of The Tarsi Way, hidden risks in rent rolls could be quietly draining revenue, damaging compliance, and increasing landlord churn. Many agencies only realise these problems when it’s too late, during an audit, valuation, or sale negotiation.

“A rent roll should be an asset, not a liability. But too often, agencies fail to realise the risks they’re carrying until it’s too late - when they’re hit with compliance penalties, lost revenue, operational inefficiencies, or landlord disputes,” said Tarsi.

Compliance failures can jeopardise an entire agency
Strict industry regulations mean that non-compliance isn’t just a minor issue, it’s a direct threat to an agency’s reputation and financial stability. Audits can happen at any time, and penalties can range from hefty fines to loss of licence.

Key compliance risks include missing management agreements, incomplete entry condition reports, overdue inspections, and incorrect rent increases. If agencies aren’t following best practices, they risk legal action, reputational damage, and losing landlord clients.

“Non-compliance doesn’t just mean fines or legal troubles. It damages your agency’s credibility. Landlords trust you to manage their investments, and if they lose confidence in your ability to follow the law, they won’t hesitate to take their business elsewhere,” said Tarsi.

Revenue leaks are draining profitability
Many agencies unknowingly lose thousands of dollars every year due to poor oversight in their rent rolls. Small revenue gaps, such as undercharging management fees, missing ancillary charges, or failing to follow up on arrears, quickly add up.

“Think about it this way: if your agency has 200 properties under management, and you’re missing just $50 per property per year in uncharged fees, that’s $10,000 in lost income annually. Multiply that over five years, and you’ve just given away $50,000.”

Operational gaps increase landlord turnover
Property managers play a critical role in protecting a rent roll’s value, but lack of oversight can lead to major inefficiencies. Agencies that don’t have standardised processes often face missed deadlines, poor landlord communication, and incomplete records, which can lead to landlord dissatisfaction and higher churn rates.

When landlords leave, agencies face high acquisition costs to replace lost business, further impacting profitability.

“Agencies that fail to optimise internal operations often struggle with: increased staff burnout due to inefficiencies, higher landlord churn leading to lost managements, and reduced goodwill value when it comes time to sell.”

ICYMI, yesterday we reported on buyers’ biggest turn offs

TOGETHER WITH MATTERPORT

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Register for the webinar here being held at 1:00pm AEST, 20th February

SMART SNIPPETS

Regional property outshine the city
Australia's regional property markets are bucking the downward trend, growing 1% while capital cities declined by -0.7% in the latest quarter. The price gap between regional and capital city homes has widened to $240,000, as remote work continue to drive a lifestyle-focused migration away from major cities. Nearly 73% of regional suburbs saw value increases, while Sydney and Melbourne experienced widespread declines.

LJ Hooker rebrand targets new agents
LJ Hooker has launched The Difference brand platform in a bold move to draw in top talent. The rebrand comes as the company approaches its centenary anniversary and includes enhanced marketing tools, streamlined training, and instant brand recognition.

Why 2025 could be a risky year for investment properties
Rising living costs, changing rental laws, and extreme weather events are putting investment properties under more pressure than ever. According to EBM RentCover Managing Director Sharon Fox-Slater, landlords face growing financial risks, from tenant defaults and property damage to liability claims.*

CELEBRITY HOMES

The ultimate golfer's dream home hits the market
For golf lovers, waking up to the most legendary views in the sport is no longer just a dream. The Swilcan Townhouse at St Andrews offers a front-row seat to history, overlooking the iconic Swilcan Bridge, where legends like Tiger Woods, Jack Nicklaus, and Tom Watson have walked.

This three-story luxury residence boasts a panoramic rooftop terrace, making it the ultimate spot to take in the 2027 Open Championship. Set for completion in 2026, it comes with a price tag of $14M.

SOUNDWAVES

The soundtrack to selling: how music can influence real estate success

Music isn’t just background noise, it can boost mood, reduce stress, and even influence decision-making, making it a powerful tool in real estate. Research suggests that upbeat tunes can enhance positivity, while calming music can create a sense of relaxation, helping buyers feel more at home during an inspection. This curated listen reports that music can even impact brain function as effectively as medication in some cases.

Dive straight into the listen below or the deeper dive here

Read the article from PPLPRS here

AGENTS ON SOCIAL

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Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Charmagne Arrubio and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

Stories marked with * are sponsored, including 'Together With' and the weekday 'Movers & Shakers' sections. Interested in promoting your brand to Elite Agent’s audience? Learn more at eliteagent.com/advertise.

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