Don’t Get Bundled
Even though it’s been around for several decades, the Resident Rewards Package (RRP) is the current catnip of the property management industry. Managers are discovering in big numbers that they work beautifully and can generate lots of new profits. However, the reason it works FOR you is the very reason you don’t want it to…
Read More4 Reasons Why You Should Use Customized Management Agreements
For the first 10 years of my property management career, I used our state association management documents, and I’m glad I did. They were written by a real estate lawyer and looked over by the forms committee for the association (the brightest and best of the sales industry, in my opinion). These documents taught me…
Read MoreWhy Tenants Accept Resident Rewards Packages
Resident Rewards Packages have been around for several decades, and yet many managers are still reluctant to embrace them. Most of the time it’s because they don’t understand WHY they’re so readily accepted by tenants, so managers are often hesitant to step out and try them. After using them for the past 15 years, however,…
Read MoreRevenue Per Unit – Don’t Leave Money on the Table
One of the most powerful levers for improving profitability in any property management business is maximizing your Revenue Per Unit (RPU). The average revenue per occupied unit is $171 for the industry. However, for the top 25% of companies, their average revenue per occupied unit is $238. The reality is that many companies leave a…
Read MoreGrowing Your Business Without Growing Your Headaches
As a small business owner, especially in property management, the most difficult part of being the boss is that you have to do everything. Getting one thing done in a day is hard enough without having to worry about the myriad of tasks competing for your time and attention. In this article, I’ll focus on…
Read MoreThe One Book that Will Help You Generate More Leads
Books can change your life…and your business Books can change your life…and your business. One of the absolute best books for property management business owners I’ve read over the last ten years is Make It Ring by Mike, Dylan, and Audrey O’Neil of Geek Real Estate Marketing. The book’s focus is on generating “exclusive leads”…
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