The Marketing Numbers and KPIs Every Property Management Business Should Track.

Record every landlord enquiry and where it came from.

Common sources include:

• Google search

• Google Business Profile

• Website content

• Social media

• Email marketing

• Paid advertising

• Sales team referral

• Past landlord referral

• Buyers agent

• Mortgage broker

• Accountant or financial adviser

• Local networking

• Signage or print marketing

Avoid using “internet” as the source. It does not provide enough information to guide future decisions.

If a landlord first discovered the business through an article but later submitted an enquiry through Google, record both where practical:

• Original source: Website article

• Final enquiry method: Google Business Profile call

This provides a more complete picture of the journey.

Not every enquiry is a suitable management opportunity.

A qualified enquiry may involve:

• A property within the agency’s service area

• A service the agency provides

• A genuine owner or authorised decision-maker

• A realistic management need

• A property the agency would be willing to manage

• A reasonable future timeframe

Record both total enquiries and qualified enquiries. This helps separate high activity from genuine opportunity.

For example, 40 enquiries producing five suitable prospects may be less useful than 15 enquiries producing ten suitable prospects.

Measure how long it takes the business to make a personal response to a new enquiry.

The first automated confirmation does not count as the complete response. Track when a team member actually calls or writes to the landlord.

Review:

• Average response time

• Enquiries responded to on the same business day

• Enquiries not answered

• Enquiries requiring several attempts

• Response times outside normal working hours

The goal is not to create an unrealistic promise of immediate availability. It is to make sure genuine opportunities are acknowledged and assigned promptly.

This number shows how well the agency turns suitable enquiries into rental appraisal appointments.

Use this calculation:

Rental appraisals booked ÷ qualified enquiries × 100

If the agency receives 20 qualified enquiries and books 12 appraisals, the booking rate is 60 per cent.

A low booking rate may point to:

• Slow responses

• Weak first conversations

• Poor lead quality

• Unclear benefits of the appraisal

• Limited appointment options

• Inconsistent follow-up

Review the reasons appraisals are not booked rather than assuming every unconverted enquiry was poor quality.

Track booked appraisals separately from completed appraisals.

Cancellations and missed appointments can hide problems in the confirmation process.

Record:

• Appraisals booked

• Appraisals completed

• Appraisals cancelled by the landlord

• Appraisals rescheduled

• Appraisals that did not proceed

• Reason for cancellation

A clear confirmation email, appointment reminder and simple rescheduling option may improve the completion rate.

This is one of the most important growth measures.

Calculate it using:

New managements signed ÷ rental appraisals completed × 100

For example, if the team completes 15 appraisals and signs 6 managements, the conversion rate is 40 per cent.

Review conversion by:

• Team member

• Lead source

• Property type

• Service area

• New landlord or management transfer

• Time between appraisal and decision

Do not judge a team member on one month of results. Some landlords enquire several months before they are ready to appoint an agency.

Measure the number of days between the first enquiry and the signed management.

This helps the business understand how long different opportunities usually take.

A vacant property may convert quickly. A landlord planning an interstate move may require several months of follow-up.

Knowing the usual conversion period helps the agency create suitable follow-up plans instead of treating every enquiry as immediately ready.

If the business spends money on marketing, calculate what it costs to create results.

Cost per enquiry

Marketing spend ÷ total marketing enquiries

Cost per qualified enquiry

Marketing spend ÷ qualified marketing enquiries

Cost per appraisal

Marketing spend ÷ rental appraisals generated

Cost per new management

Marketing spend ÷ new managements signed

The final figure is often called the client acquisition cost.

Include the costs directly connected to marketing, such as advertising, creative work, software, landing pages and outsourced support where appropriate.

A cheap enquiry is not valuable if it never becomes a suitable management.

Marketing success should not be measured by new managements alone.

Track:

• New managements signed

• Properties gained through portfolio purchases

• Properties lost

• Reason each property was lost

• Net portfolio growth

• Source of each new management

Calculate net growth using:

New managements gained − managements lost

If the business signs ten new managements but loses eight, net growth is only two.

Reasons for loss may include the property being sold, the landlord changing agencies, self-management, poor service, fee concerns or the landlord leaving the investment market. The reason matters because not every loss is caused by marketing or service failure.

Compare lead sources using more than enquiry numbers.

For each source, review:

• Total enquiries

• Qualified enquiries

• Appraisals booked

• Managements signed

• Conversion rate

• Acquisition cost

• Average time to convert

• Quality and suitability of clients

• Number of properties per new landlord

A referral source that produces four enquiries and three managements may be more valuable than an advertising campaign producing 30 enquiries and one management.

Website and email numbers can help explain what happens before an enquiry, but they should not be treated as the final result.

Useful website indicators include:

• Visits to property management service pages

• Visits to local area pages

• Rental appraisal form submissions

• Telephone and email link clicks

• Downloaded landlord resources

• Website enquiry conversion rate

Useful email indicators include:

• List growth

• Successful delivery

• Opens and clicks

• Replies

• Unsubscribes

• Appraisal enquiries influenced by email

• Previous enquiries reactivated

Look for patterns over time rather than reacting to one email or website report.

Professional relationships often produce strong opportunities, but they are easily overlooked in reports.

Track:

• Active referral partners

• Meaningful partner conversations

• Introductions received

• Appraisals generated

• Managements signed

• Referrals returned

• Last contact date

Do not measure relationships only by the number of meetings. The aim is to build trusted connections that produce suitable introductions over time.

A practical monthly report may include:

• Total enquiries

• Qualified enquiries

• Average response time

• Appraisals booked

• Appraisals completed

• New managements signed

• Appraisal conversion rate

• Marketing spend

• Cost per management

• Managements lost

• Net portfolio growth

• Best-performing lead sources

Add short notes explaining unusual changes. Numbers without context can lead to poor decisions.

Before reviewing marketing performance, confirm that:

• Every enquiry has a recorded source.

• Qualified enquiries are identified.

• Appraisals are tracked from booking to outcome.

• Conversion rates use consistent calculations.

• Marketing costs are recorded accurately.

• New and lost managements are both included.

• Lead sources are judged by quality, not volume alone.

• Longer-term opportunities remain in the CRM.

• Results are reviewed monthly and quarterly.

Marketing measurement should lead to better decisions, not larger reports. Track the numbers that show where suitable landlords come from, how they move through the process and whether the portfolio is genuinely growing.