Property Management Brainstorm

Host Bob Preston engages in a dynamic discussion with Barak Shamir of Showdigs, shedding light on the challenges property managers face during the leasing season. This conversation not only helps property managers prepare for the busy season but also offers a solution by showcasing how Showdigs can empower them to optimize their operations. Barak elaborates on the various aspects of leasing efficiency and how Showdigs can be a game-changer in streamlining their leasing process. TakeawaysThe leasing season brings increased turnovers, inspections, and showings.Inefficiencies in processes can lead to staff burnout and lost business.Showdigs can help property managers streamline operations.Consistency in inspections and reports is critical.Squatters pose a significant challenge for property managers.Preventing rental fraud is essential.Showdigs offers a pay-as-you-go pricing model without tiers Visit Showdigs at booth 605 at the NARPM Broker/Owner Conference in Amelia Island, Florida, April 16-18, 2024.Chapters01

In this episode, renowned property management expert Tiffany Rosenbaum and seasoned host Bob Preston delve into property management failures and entrepreneurs' struggles. Drawing from their extensive experience, they underscore the importance of learning from failures and mistakes encountered in the journey of growing businesses. TakeawaysFailures are part of the entrepreneurial journey.Self-doubt is common among entrepreneurs.Effective processes are crucial for success.Micromanagement can hinder the growth. Anticipating customer needs can set a business apart.Continuous learning and embracing struggles are essential.Chapters02:00 Introduction and Background04:02 Importance of Discussing Property Management Failures04:50 Struggles and Self-Doubt in Entrepreneurship14:07 LeadSimple Midroll Commercial17:20 Common Failures in Property Management20:50 Implementing Procedures and Processes28:30 Embracing Struggles and Continuous LearningConnect Tiffany Rosenbaum:   https://www.linkedin.com/in/tiffany-rosenbau

In this episode, host Bob Preston and guest Dylan McGrath discuss how to prepare a property management company for acquisition, what is involved in the process, and various valuation models. If you have ever wondered what it would be like to sell your business and what steps would be involved, this episode is a must-listen!Takeaways:Costs to engage a business brokerModels for valuing a property management businessStructuring of a property management business saleDue diligence and information exchangedChapters:00:00 Introduction and Dylan’s background04:54 Getting started in selling a property management company?08:42 Fees paid to a business broker12:14 Due diligence process and information exchanged16:23 Valuation models for property management companies21:11 Structuring the purchase arrangement: asset sale vs. stock sale25:58 The current state of company valuations32:05 Steps involved in closing the sale46:49 Clawback provisions in an agreement49:20 Closing comments and how to connect with DylanConnect Dylan

On this episode, host Bob Preston and guest Jeremy Pound discuss various aspects of business development and new client acquisition in the property management industry. The conversation also delves into the building blocks for creating a successful business development program and the characteristics of a good business development manager. Takeaways:Understanding the local market and competitionFinding the right business development managerMotivating business development managersCRM SoftwareSignificant opportunities for growthChapters:00:00 Introduction and Background05:20 Challenges in Acquiring New Doors10:20 Understanding the Local Market and Competition13:45 Building Blocks for Business Development18:00 Reluctance to Delegate Business Development30:00 Motivating and Compensating Business Development Managers37:20 Importance of Customer Relationship Management Software52:40 Closing ThoughtsConnect with Jeremy Pound:  https://rentscale.com/Episode 81 Featured Sponsor: zInspectorzInspector is the most powerf

In this episode, Bob Preston shares his top five ways to kickoff 2024 for property management businesses. He emphasizes the importance of strategic planning, organizational checkups, accountability and goals, kickoff meetings, and budget trimming. These steps are crucial for setting the direction, aligning the team, and optimizing resources for a successful year ahead.TakeawaysCreate a strategic plan with a forecast and budget for the new year.Conduct an organizational checkup to assess the company's culture and alignment.Establish accountability and goals for every team member.Host a kickoff meeting to communicate expectations and review past performance.Trim 15% of the budget to optimize resources and achieve new profitability goals.Chapters00:00  Introduction and Overview of Bob's Five Ways to Kickoff 202403:08  Chapter 1: Forecast and Strategic Planning for the New Year06:02  Chapter 2: Organizational Checkup07:30  Chapter 3: Accountability and Goals09:38  Chapter 4: Kickoff Meeting10:35  Chapte

Bob Hansen, Principal at Second Nature, joins host Bob Preston to discuss the mid-market multifamily rental sector and its challenges and opportunities. He highlights the importance of attracting renters through amenities and value-added services. Bob also discusses the impact of economic factors on rental rates and the challenges tenants face in affording rent. He emphasizes the need for property managers to focus on the resident experience and leverage technology to meet the younger generation’s expectations. Listen in as  Bob Preston and Bob Hansen unpack the mid-market multifamily sector and the opportunities for property managers to grow their portfolios.Topics Covered01:45 Introduction and Background03:45 Overview of the Mid-Market Segment06:25 Factors Shaping Demand for Mid-Market Rental Units10:45 Affordability and Tenant Challenges12:45 Keeping Properties Performing at Optimal Level17:15 APM Help Midroll Comnmercial18:30 Importance of Occupancy Rates19:25 Amenities and Features in the Mid-Market Sect

Pete Neubig is the co-founder and CEO of VPM Solutions – the first and only staffing solution platform targeted specifically toward property managers and real estate professionals. In addition to his professional accomplishments, he is also an Ironman triathlete.Tune in as Pete shares his experiences and insights with host Bob Preston, discussing the types of tasks suitable for virtual assistants, the benefits of hiring remote talent, and the role of technology in streamlining operations. He also touches on different team structures, the monetization of maintenance, and effective marketing strategies.Topics covered:(03:23) Pete Neubig’s background(06:32) The resistance to office return, but it's happening(11:40) Centralized staffing based on office size(14:02) Use virtual assistants and automation for efficiency and profitability.(19:09) Average VA hourly rates(21:59) Maintenance coordinator training takes 90 days(26:39) Pre-interviews, final interviews, and quick decision-making(29:50) The VPM Academy(3

Bob Preston is the founder and creator of Property Management Brainstorm. He goes solo in this episode to unpack the question of what makes Property Management Brainstorm different and explains his experience in "Hitting for the Cycle." Topics covered:(02:00) Bob explains why he is communicating his purpose in property management consulting(02:30) Why all the noise and FUD about consulting services?(03:30) Never disparage the competition(04:12) Why do we offer services that no one else can replicate(04:46) Featured Sponsor, Upkeep Media(05:30) "Hitting for the Cycle" in Property Management(06:00) How Bob has hit for the cycle, touching all the bases(07:45) Property Management Brainstorm can help through all the stages of your PM companyEpisode 77 Featured Sponsor: Upkeep MediaUpkeep Media specializes in property management marketing. With custom-tailored marketing plans, their approach is as unique as each company they work with. Upkeep Media effectively grows property management companies

Stephen Fox is the co-founder and Vice President of Operations at Upkeep Media, the company that helps property management companies grow by implementing effective marketing strategies. He joins the show to unpack the importance of having a strong online presence in the competitive property management industry.From the initial interaction with potential clients to attracting property owners, Stephen and host Bob Preston will discuss valuable insights and strategies for building an effective online presence.  Topics covered:(03:23) Stephen Fox’s background(04:46) Why the property management industry is Stephen’s focus(08:55) How critical is an online presence in our industry?(13:19) The lemonade stand principle(15:36) Having a marketing mix(21:45) Developing websites and leveraging SEO(23:36) Featured Sponsor, VPM Solutions(24:32) Upkeep Media’s growth marketing sessions with new clients(27:49) Identifying goals for your website(33:08) What has produced the best results for Upkeep Media’s clients?(36:30) How t

A handful of entrepreneurs in the property management industry have helped bootstrap and grow a property management company, sold the company, remained in a senior capacity with the acquisition company, and ultimately moved on to start yet another property management venture. One of those individuals is Travis Bohling of Phoenix, Arizona.He is the co-founder of the property management company Home Ladder. Tune in as host Bob Preston and Travis delve into the importance of saying no and choosing a specific direction to the challenges of working in a large company where decision-making is hindered.Topics covered:(02:45) Travis Bohling’s background and his new venture, Home Ladder(03:29) When Travis first decided to get into property management(04:57) His work with RentVest(07:23) The early stages of Travis’ property management company(11:33) Expanding to other markets(14:25) SureVestor Midroll Commercial (60-seconds) (15:35) The decision to sell RentVest(19:09) The acquisition process and working for Mynd(23:28

Churn rate – or also known as attrition rate – is something we all try to avoid but it is a big problem for most property managers. Our guest today unpacks what he is doing to address this challenge. Lior Abramovich is Co-Founder and CEO at Blanket, a company helping property managers keep their doors open by building thriving relationships with their clients. Tune in as he and host Bob Preston unpack the many definitions of churn, understanding each client, why we need to invest more in relationships, and much more. Topics covered:(02:03) Lior Abramovich’s background and what Blanket does(13:28) Understanding more about churn rate(20:09) What is positive churn?(23:12) How Blanket reduces churn(26:45) How the Blanket dashboard works(32:01) The data and technology behind Blanket – in layman’s terms(33:31) The goals of a property owner versus the property manager(38:55) Getting commission on deals(43:08) Blanket’s business model(49:20) Comparing to other marketplace platforms(53:48) The customer reactions to Bl

A high-performing team is more than just a group of talented individuals. It's a cohesive unit that collaborates, focuses on continual improvement, and works toward common objectives to achieve outstanding results. Building high-performing teams has never been more imperative in today's dynamic property management industry. Yet, it has also never been more challenging. On this episode of Property Management Brainstorm, host Bob Preston is joined by Gwenn Aspen, co-founder and president of Anequim, an organization focused on the property management industry to help companies be more efficient and successful. Tune in as Gwen and Bob will delve into the principles, strategies, and practices that enable organizations to harness the full potential of their property management workforce.Topics covered:(02:41) Gwenn Aspen’s background and what Anequim does(04:48) How achievable is building a high-performing team?(07:38) Where do you start with building a high-performing team?(09:51) Entrepreneurial Operati

Property Management Brainstorm host Bob Preston has met many property managers in the industry. Bob and AJ Shepard of Uptown Properties have known each other for the last few years, mainly from their involvement in the NARPM organization. AJ is also a real estate investor, active in real estate syndication, and owns a beer brewery. Bob and AJ discuss the buzzword Artificial Intelligence, AI for short, and how it can be utilized in property management companies to streamline operations and increase efficiencies. This is his second time on the show, so we are excited to welcome AJ back to the Brainstorm!Topics Covered:[1:58] AJ Shepard introduces himself and his company, Uptown Properties.[2:55] AJ explains his involvement in the NARPM organization and why he is running for President-elect for the NARPM National Board of Directors.[12:30] Bob and AJ discuss the definition of Artificial Intelligence (AI) and its use in the property management industry.[14:24] Is AI synonymous with automation?[16:45] Are routine

If you've spent some years in the property management industry, you have become aware of the value of operational systems. A well-run business must systematize. Webster defines systemization as "arranging according to a definite plan or scheme." Everything property managers must keep streamlined: business development, owner onboarding, move-ins/outs, rent collection, evictions, etc.In this episode of Property Management Brainstorm, Bob's guest is Paul Kankowski, a systems expert and host of the Property Management Systems Conference, scheduled to be held in Las Vegas January 23 – 26, 2024. Bob and Paul discuss systems and why the concept is essential to every property management company.Topics Covered:[2:10] Paul Kankowski introduces himself and the PM Systems Conference. [4:06] Do the terms Procedures, Policies, Methods, Systems, Workflow, and Process all of these mean the same thing?[5:05] Why is it a bad idea for the company staff to keep their systems and processes only in their heads?

During his time in the property management industry, Bob Preston has met many property managers all over the USA. One of the most exciting stories he has heard is that of Amy Hanson, who has purchased a property management company, sold it, and started another in a different city. There are many lessons to learn from Amy, including how NARPM has helped shape her journey!In this podcast, Bob speaks with Amy Hanson about how she started in property management, the importance of the NARPM organization in shaping her career, and the lessons she has learned that can help many other property management companies.Topics Covered:[1:35] Amy Hanson introduces herself and her company, A Plus Management, in Plano, TX.[9:00] Maintaining a work-life balance as a property manager.[11:14] How the NARPM organization has influenced Amy's career.[17:40] What lesson did Amy learn from her first company in San Antonio, TX,  that helped her start A Plus Management in Plano, TX?[19:40] What Amy knows now that she wishes she ha

Hello brainstormers, it's an exciting day for Property Management Brainstorm! If you've been tuning into the podcast recently, I've alluded to a new direction and sense of purpose for Property Management Brainstorm. Well, the time is finally here! Moving forward, Property Management Brainstorm will be a property management consulting company AND a podcast dedicated to the property management industry. We will focus our consulting services on property managers and business owners looking to add doors, grow recurring revenue, and build a high-profit property management business. Many of the Property Management Brainstorm podcast topics will address these same themes. Some of the areas of consulting services to be offered:Property Management StrategiesOperational Efficiency ImprovementMarket AnalysisFinancial ManagementTenant Relations and Customer ServiceProperty Maintenance and UpkeepTechnology IntegrationLegal and Regulatory ComplianceTraining and EducationCrisis ManagementRisk ManagementBusine

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.Pest control is an absolute necessity when managing a portfolio of rental properties. Especially in Summer, bugs and pests will find a way to enter homes and show themselves to tenants. Bob Preston discusses a new approach to pest control with Tom Clements of Pest Share. Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.A property manager's handling of rental property maintenance is vital to every management company in our industry. Bob Preston has a lively discussion and suggests that "maintenance shouldn't be so hard" with his guest, CEO of Property Meld, Ray Hespen.Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.  Several words may be used for our discussion today:  process, systems, workflow, and action items might all be used in this context. Property managers have a long list of job activities that must be completed regularly through a standardized operating procedure. Bob Preston discusses the importance of property management industry systems and processes with Lead Simple's CEO, Jordan Muela.Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

We have big plans coming soon to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.Service Level Agreements (SLAs) can be used effectively within property management companies to maintain the standard of customer satisfaction for tenants, property owners, and service providers. Bob Preston discusses this topic with Ethan Lieber, CEO of Latchel.Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.