The property management growth model that prioritised retention – and won nationally

For many agencies, growth only amplifies the problem.

Stone Real Estate Macarthur decided not to accept that.

Instead of building its property management division purely around portfolio growth, the business focused on a different question: what would a property management operation look like if retention, of both people and clients, was the priority?

Earlier this year, that approach received national recognition when the team won Property Management Office of the Year – 7+ Property Managers at the REB Awards, finishing ahead of some of the country’s largest property management operations.

It was also the first time the business had entered the awards.

For Head of Property Management Gemma Patterson, the recognition reflects a model the team had been building deliberately over time.

“Property management is demanding work,” she says.

“If people feel overwhelmed or unsupported, it becomes very difficult for them to deliver the level of service landlords and tenants deserve. Our focus has been on building the structure around the team so they can actually do the job well.”

What happens when growth outpaces structure

Property management businesses often measure success by the size of their rent roll.

But as portfolios grow, so does the operational pressure behind them.

New properties must be integrated, systems adapted, and teams supported through increasing complexity. Without the right structure, that pressure shows up quickly – in service levels, client experience and ultimately staff retention.

Over the past few years, Stone Macarthur has expanded significantly across south-west Sydney, including through acquisitions that required the integration of new portfolios, people and processes.

For Gemma, the priority during that growth was clear.

“If your systems and structure don’t evolve with the portfolio, the cracks appear quickly,” she says.

“Usually in burnout, and then in turnover.” Building a team around the work — not the other way around. Today the Stone Macarthur property management division oversees more than 3,400 properties across two offices.

Across the department, this equates to an average of 102 properties per team member. But the structure behind that number is what makes it sustainable.

Rather than relying on individual property managers to carry the full operational load, the business has built a broader team around the role — including leasing, a dedicated Field Team, business development, administration and leadership support.

The Field Team plays a key role, conducting inspections to a high standard and reducing the time property managers spend on the road. That allows PMs to focus on higher-value work – problem solving, communication and relationship management.

“Portfolio size alone doesn’t tell you how a business is operating,” Gemma says. “What matters is whether the people responsible for those properties have the support around them to manage them properly.”

Why the numbers started to move. The impact of that structure is reflected in the team’s leasing performance. Across the past year, properties have typically been leased within 12–14 days, with the department currently sitting at around 18 days on average.

In February alone, the team achieved 23 days to lease compared with a market average of 86 days, according to Domain data.

The result is not driven by speed alone, but by consistency.

Clear enquiry processes, strong collaboration between teams and disciplined follow-up remove the friction that often slows campaigns down.

“When everyone understands their role, things move more smoothly,” Gemma says.“Leasing becomes the outcome of a system, not a scramble to catch up.”

That same consistency is reflected in client feedback, with the team achieving a Net Promoter Score (NPS) of 77.3 — a measure of how likely clients are to recommend a business, and a strong indicator of satisfaction and loyalty — well above the industry benchmark of 56.7.

Experience as a strategic advantage

Another defining feature of the department is the depth of experience within the team.

Staff average 11.8 years of industry experience, with an average tenure of 3.1 years within the business — a meaningful result in a profession known for high turnover.

That stability benefits clients directly. Instead of navigating constant handovers, landlords and tenants deal with experienced professionals who understand both the legislation and the long-term relationships behind the properties they manage.

It has also begun to influence how the business attracts talent.

Rather than relying on recruiters, the team is increasingly seeing experienced property managers reach out directly – some choosing to wait for future opportunities rather than move elsewhere.

For Gemma, that shift is a by-product of how the business operates.

“We’ve been deliberate about hiring the right people, rather than hiring quickly, and creating an environment where they can do their best work,” she says.

“When that’s in place, people notice.”

Why the model held under pressure

Structure alone doesn’t create retention. The environment the team operates in matters just as much.

Over the past year, the department has navigated acquisitions, system changes and continued growth — all of which can place pressure on even the strongest teams.. What has allowed the model to hold is the way the team supports each other through that pressure.

There is a shared understanding that performance is collective, not individual. When challenges arise, the team steps in, supports one another and keeps service levels consistent. It’s the combination of structure and culture that has made retention sustainable – not one without the other.

“Property management can be unpredictable,” Gemma says. “You need a team that backs each other and knows how to respond when things don’t go to plan.”

What the industry can take from it

For many property management businesses, growth is still measured by the size of the portfolio

Stone Macarthur’s experience suggests a different metric may matter more.

Retention. By building a department where experienced professionals want to stay, and have the structure to perform at a high level, the business has created stability that flows directly into client outcomes.

The national REB award provides recognition of that approach.

But the more important point is what sits behind it.

Retention isn’t just an HR objective. It’s a service strategy. It’s a leadership decision. And ultimately, it’s a growth model.