Lead Conversion Playbook

Every time a lease comes up for renewal, landlords reassess their management strategy.

70 out of 100 rental properties are professionally managed, while 30 out of 100 are self-managed.

Drilling down even further, of those 70 using a professional property manager 19 landlords are unhappy with their current property manager and 5 are actively looking to switch agencies. 

By proactively reaching out to landlords with properties that are approaching the end of their lease you can leverage recent pain points they have experienced to convince them to switch to your agency.

This playbook defines a service focused pitch as opposed to a value / monetary pitch. 

This is because the vast majority of landlords are cost-insensitive and risk adverse. They are looking for someone who they can trust with their second largest asset (after their home). This means that offering cost based offers (e.g. 3-months free etc) will have significantly less effect than understanding & catering to their fears & motivations. 

Landlord Motivating Factors

Keep these in mind when pitching landlords.

Make sure you demonstrate the positive factors & get landlords to verbalise the negative factors about their current property manager.

The initial conversation script below will help navigate this conversation

Why Landlords Chose A Property Manager

When selecting a new property manager, landlords are primarily driven by a mix of local expertise and pricing. 

Based on recent industry data landlords stated the following factors were highly influential when choosing a PM:

• Understanding local area/trends is the leading factor appearing in 38% of responses

• Offering competitive fees (37%)  

• Responsiveness to requests (26%) 

• Being easy to get along with/talk to (26%)  

• Confidence in leasing for the best price (24%) 

• Transparency about fees (24%) round out the top criteria

Why Landlords Leave A Property Manager

While competitive fees might help win the business initially, poor service and lack of communication are the overwhelming reasons landlords decided to switch agencies. 

The top reasons landlords switch agencies are:

• Didn't act in my best interest appeared in 37% of responses. They felt their financial goals weren't prioritized.

• Poor communication (35%): Silence or lack of clear updates breaks trust.

• Inadequate property maintenance (28%): Failing to care for the physical asset.

• Lack of experience (24%): Frustration with junior staff or poor advice.

• Issues with placed tenants (23%)

• Cost concerns/excessive fees (23%)

• PM turnover (23%)

Initial Conversation

When making first contact, your goal is to spark a dialogue, not deliver a monologue.

During the conversation you need to:

1. Establish yourself as an expert in the area 

2. Get the landlord to verbalise one or more pain points with their existing property manager or self management

3. Demonstrate at a high-level how you address that / those pain points

4. Get the landlord to take a step that will deepen their relationship with your agency & erode the relationship with their existing agency

First Contact

Establish quickly that you are calling about a specific asset they own (eg not a scam them or irrelevant)

"Hey [Name], I’m calling about [123 Main Street]. Are you the best person to talk to about the property?"

This naturally gets them interested in who you are & what you want. Ending with a question drags them into a conversation. 

Establish Connection

They will likely be defensive ("Who are you? What is this about?"). Immediately establish your local authority and offer value.

"It’s [Your Name] from [Agency]. I recently leased a property right around the corner from you at [45b Bell Ave]. I noticed yours hasn't been on the market for a while, so I went ahead and ran a quick market analysis for it. When was the last time you adjusted the rent?"

Recent Experience

From here you want to use clarifying questions to get them to verbalise pain points that they are experiencing. You can use these pain points to motivate them to switch agencies. 

• Do you manage that yourself, or do you have a property manager?

• Have you been with the property manager for long?

• When is the end of the current lease? Has your property manager reached out to start the process?

Pain Point

Once you know their management setup, use the "Priming Questions" to get them to verbalise a triggered response. A triggered response indicates that you have touched on a pain point that they recently experienced. This is what you’ll leverage to get them motivated enough to switch to your agency because you’re able to provide the solution.  

Landlords Using a Professional Property Manager

For the 70% of landlords already using a professional, your goal is to highlight where their current service is falling short.

Pain Point	Priming Questions	Triggered Response	Your Solution
Unclear who to talk to / PM changeover	Have you been with them long? What happened to your previous PM?	The property manager left or the portfolio was sold, leading to frustration over having no reliable point of contact.	Highlight your agency's time in business and the long tenure of your team.
Lack of experience	How long have you been with them? How have they been so far?	The PM appears to be very junior, resulting in complaints that they don't know how to handle specific issues.	Emphasize your personal experience and the collective expertise of your team.
Issues with a bad tenant	How’s the current tenant? Any issues in the recent routine inspection?	Rent is delayed or the property is damaged, prompting detailed venting about tenant problems.	Explain your rigorous tenant selection process, routine inspections, and industry-low eviction rates.
Didn’t act in my best interest	Have they discussed the upcoming review? What did you think of their suggested adjustment?	A poorly managed rental review causes frustration that the PM's actions go against their investment strategy.	Dig into their specific financial goals (income, appreciation, etc.) and explain how you tailor your strategy to match.
Poor communication	Any recent maintenance? How was it handled? Were you kept in the loop?	A poorly managed maintenance issue leads to annoyance about being left in the dark and not knowing what's going on.	Detail your agency's systems and processes that guarantee proactive communication and step-by-step updates.

Self-Managed Landlords

For the 30% of landlords managing their own properties, your goal is to respectfully expose the risks and stress they are taking on.

Pain Point	Priming Questions	Triggered Response	Your Solution
Nervous about open houses & tenant selection	How did you find the current tenant? Did you do many open houses/get many applicants?	Past challenges with finding a tenant leave them feeling overwhelmed by the time it took, or frustrated by a lack of good applicants.	Outline your process for maximizing applications, strict vetting, and the high cost of evictions if done poorly.
Keeping up with market trends & pricing	When is the review due? How did you decide on that adjustment amount?	Too many or zero applications last time leads to an admission that the market moved unexpectedly or they didn't plan an adjustment.	Share your live market insights to show how you achieve optimal pricing while minimizing vacancy time.
Not understanding rules and regulations	How are you keeping up with the recent changes to rental regulations?	Recent news articles regarding new rental laws make them feel overwhelmed by changes or admit they aren't paying attention.	Discuss recent legislation, your team's ongoing training, and the severe financial penalties for non-compliance.
Being on call 24/7 for maintenance	Any recent maintenance requests? Did you feel confident managing the process?	A tenant recently reporting a maintenance issue causes irritation over the hassle of managing trades or being overcharged.	Explain your streamlined systems and vetted trade networks for handling maintenance requests efficiently.

Call To Action

Once they vocalised one or more pain points & you’ve detailed your high level solution close with a low-friction "Ask".

The Hierarchy of Outcomes:

1. The Video Call/Coffee (Best): "From our chat, it sounds like your current PM isn't delivering. Are you available Thursday at 2pm for a quick video call so I can show you how we handle that differently?"

2. The Value Share (Good): "At the very least, can I share the independent market analysis I ran for your property, just so you have a point of comparison?"

3. The Check-In (Fallback): Set a CRM task to call back in 2 months to see how their renewal actually went

Outcomes

Every call falls into one of four buckets. Here is how you play the psychological game for each scenario to move the needle toward a closed deal.

Landlord Action	Next Steps
Answers & Is Interested In A Meeting (~5%)	You've hooked them. Your goal is to secure a video call or coffee to walk them through the market analysis. This isn't just about data; it's about building a trusted advisory relationship. Deep-dive into their current management pain points so you can explicitly tailor your pitch to what is currently broken in their setup.
Answers & Is Interested In A Market Analysis (~15%)	They are curious but guarded. Offer to share the Leesy analysis via text or email. This acts as a "Trojan Horse" of value. When they open the report, you will receive an instant email notification. This is your cue to re-engage while they are actively staring at the numbers you provided.
Answers & Is Not Interested (~40%)	Treat a "No" as a "Not Yet." They will claim they are happy with their PM or self-managing setup. Respect their stance, but insist on sending the analysis "just in case they ever want a second opinion." By delivering high-value insights with zero pressure, you plant a seed of doubt about their current PM's competency. When they open the link later, you'll know exactly when to follow up.
No Answer  (~40%)	People screen unknown numbers, but they listen to voicemails that promise financial value. Initiate the "3-Touch Voicemail Sequence" (detailed below) to prove you aren't just another cold caller, but a proactive market expert. You are setting the stage so that when they do finally need help, you are the first name that comes to mind.
Invalid Lead	If the number is wrong, the property is sold, or it is outside your target market, please report this to us. We will replace the lead at no cost.

Market Insights

Market knowledge is the single most influential factor a landlord uses to choose a property manager.

Hit these 5 pillars to prove your unparalleled domain expertise:

1. The Past: What has changed in supply/demand since they signed their last lease

2. The Present: Current market balance (e.g., "Demand is outstripping supply right now")

3. The Future: Forecasting how the market will look at their actual lease expiry date

4. The Strategy: Your specific pricing recommendation tied directly to their financial goals

5. The "What If": Clearly explain your game plan for if the tenant agrees, negotiates, or vacates

(1) Contextualise the past 12 months 

Landlords often feel disconnected from their local market. Bridge that gap by highlighting specific macroeconomic and local shifts. Did a new high-rise just dump 200 competing units onto the market? Has tenant demographic demand shifted in their specific suburb? Furthermore, highlight regulatory changes—such as Victoria's new 4-month notice period for rent reviews. By explaining why the market shifted, you instantly elevate yourself from a "rent collector" to an "asset manager" who stays ahead of the legislative curve.

(2) Summarise the present market conditions

When discussing what is currently happening, the focus should be on supply versus demand. For instance if you’re talking to a landlord in February, often a hot month, you can note that demand for properties outstrip supply, leading to inflated prices. You should also mention transaction volume peaks because many property managers time leases to expire during maximum demand, which leads to significant higher market transactions during the month. 

(3) Project the future market trajectory

 This is where you separate yourself from the average property manager who only looks at the past & current market. Acknowledge that the rental market is fluid, changing significantly month to month. Warn them of potential market cooling or seasonal shifts (like tenants settling into winter routines). By forecasting what the market will look like when their lease actually expires, you preempt their objections and prove you are actively protecting their long-term yield.

(4) Clear Strategic Advice and Recommendation

Data without direction is just noise. You must transition from analysis to action. Tie your market insights directly back to their wallet with a definitive, confident recommendation (e.g., "Based on the softening market between today and when your property would hit the market, I strongly advise adjusting the rent upward by $40/week"). Explain exactly how this aligns with their specific investment goals — whether that's maximizing short-term yield, retaining a great tenant for long-term stability &/or minimising the risk of vacancy — proving they are paying for a strategic wealth advisor, not just a rent collector.

(5) Pre-empt the "What If" Game: 

The biggest fear landlords have is vacancy. Anticipate their anxiety before they voice it by outlining the exact tactical plays for the three likely scenarios. If the tenant accepts, great. If the tenant negotiates, establish your counter-offer threshold (e.g., dropping to a $30/week increase to secure a 12-month lock-in). If the tenant vacates, provide your exact days-on-market timeline for re-leasing and when the advertising blitz begins. Eliminating uncertainty earns absolute trust.

Re-engagement Strategies

If at first you don’t succeed, persistence is key & these strategies will help you establish and reinforce your relationship with a landlord.

3-Touch Voicemail Sequence

If a lead doesn't answer, do not give up. Landlords want to know about your local market expertise (47%), so use your voicemails to drip-feed this value.

1. Voicemail 1 (Day 1): The Value Offer. State that you have gone ahead and completed an independent rental review for their property because the market is changing significantly. Ask them to call or text you to receive it at no cost.

2. Voicemail 2 (Day 3): The Local Proof. Highlight your recent performance in their specific area. Mention a similar property you recently leased nearby or a successful rental review you just completed to demonstrate local connection.

3. Voicemail 3 (Day 7): The Recommendation. Leave a voicemail providing your specific recommended rental adjustment for their property.

Each touchpoint reinforces your proactive communication style and proves you are acting in their best interest—the exact factors that influence a landlord to switch.

"Magic" Conversion Trigger

When a landlord accesses one of the rental reviews provided by Leesy, you will receive an email notification. Use this as an immediate trigger to call. Calling a landlord within 5 minutes of them opening the report creates a "magical" service experience and significantly boosts your conversion rate as reaching out while they are actively thinking about their investment proves you are attentive and proactive. 

Circle Back: 2-Month Check-In

No matter the outcome of the initial interaction, set a task in your CRM to check in 2 months later to see how their annual rental review actually went.

If their existing property manager hasn't contacted them yet, or simply sent a lazy text message without a proper market analysis, the landlord will instantly remember your proactive approach. Leverage their current manager's poor communication to confidently win the business.

The Property Hits The Market

If the property is advertised as available for rent this is another great trigger for re-engaging with the landlord. Understand what led to the property needing to be re-leased as it might trigger them to vent