Blog_Page_Hero-3

Triple Win Property Management Blog

Featured Blog

Introducing Group Rate Internet from Second Nature

At Second Nature, we strive to deliver the best possible experience to residents and property managers alike. We’re always looking for new opportunities to help property managers provide better service, grow their businesses, and give residents homes they want to stay in. Now, with the introduction of Group Rate Internet, we’re able to deliver yet another benefit that residents want, while improving the experience for property managers. What is Group Rate Internet? Group Rate Internet is gigabit-speed˙ internet delivered directly to single-family rental homes, incorporated right into your lease. Thanks to the power of our network, Second Nature has negotiated group rates with some of the nation’s largest internet service providers, and we’re passing the savings on to you. Residents get high speed internet at a discounted rate below what they could get on their ownº, while property managers have a new way to grow their business. Why are we doing this? These days, internet service is a necessity. But until now the process has been time-consuming, frustrating, and expensive. Subscribers face complicated setup and cancellation processes, and when they need to reach customer support, they’re often left on hold. We wanted to bring a better experience to residents and modernize the way they receive internet service. Understanding the single-family market 98% of residents across the United States pay for internet service in their homes. But until now, they’ve struggled with inflexible contracts that don’t align with their lease terms, convoluted phone trees, and expensive hidden fees. Most single-family property managers haven't had the ability to negotiate better rates with ISPs, leaving residents to pay retail prices for essential services. That's where Second Nature comes in. By leveraging our nationwide network, we're able to secure group rate pricing that's lower than what's available on the market—giving property managers a new way to offer high-quality, affordable internet without the headaches of individual negotiations. Difficulties of scattered-site Internet coverage areas can be confusing. When you have properties in multiple areas, they may be serviced by different providers, making it even more difficult to negotiate a one-size-fits-all deal. That’s why Second Nature works with multiple major ISPs to provide maximum coverage, no matter how wide your management area is. Cutting costs and making life easier On average, customers typically pay $80-120 per month for gig-speed internet. Plus they get hit with fees for equipment, setup, early termination, and more. Now, with Second Nature, property managers can provide gig-speed internet, with no installation or cancellation fees, at a fraction of the price that residents are already paying. How does the program work? Like all of the pieces in our Resident Benefits Package, we’ve designed Group Rate Internet to be as easy as possible. From data exchanges to support, we fully manage the process so your teams don’t have any extra work. Integration with property accounting systems to check eligibility Second Nature starts by gathering property details directly from your property accounting system (PAS) to automatically confirm which ISPs serve each property. We confirm eligibility and pass that data back into your PAS, so it’s always available to you. Once a property is marked as eligible in the PAS, you’ll be able to include an internet service addendum in any future leases for that property. Billing operates directly through the PAS, with no extra tools or logins to keep track of. Integrated with the lease cycle When a resident signs a lease that contains the Group Rate Internet Lease Addendum, they’re enrolled into the program, and Second Nature works directly with them to complete setup. We’ll reach out directly to residents to make sure they know how to get set up. If necessary, they’ll schedule professional installation for equipment at a time that’s convenient for them. Because there’s no separate internet contract for the resident, there are also no setup, equipmentª, or cancellation fees, and no struggling to align their utility contract with their lease term. Internet is billed right alongside rent, so residents don’t have an extra monthly bill to manage. Dedicated support We all know the pain of waiting in a phone queue to try to solve a technical issue. That’s why Second Nature offers dedicated phone support for residents using Group Rate Internet. That way residents aren’t calling you for help or getting stuck in phone trees with their ISP. Residents call Second Nature directly, and if they need technical support from their ISP, we can make a warm handoff, making sure they’re on the line with a representative before our team leaves the call. No endless transfers from person to person. Easy transition at turnover When a lease is up and a resident decides to move out, Second Nature provides move-out information to residents. Depending on the ISP, the resident may not even have to return equipment. In most cases, it just stays with the unit, and service is turned off until the next resident moves in and a new lease starts. When a new resident moves in, one phone call is all they need to get their gig-speed service up and running. It’s a simple transition when someone else moves in, all managed by Second Nature. Get started Want to see how you can provide gig-speed internet to your residents? Schedule a demo with a member of our team to walk through Group Rate Internet. ˙ Compared to average nationwide gig speed price of $80-120/mo (source: USA Today) º Up to 1 Gig Internet speed, subject to availability. Internet Service powered by Second Nature is provided through Second Nature's preferred third-party Internet service providers. ª Residents may be subject to fees if equipment is damaged, lost, or stolen.

Calendar icon March 19, 2025

Read more

The Most Critical Leasing Objective Isn’t Speed, It’s Selection

Hot take: resident selection is the single most important thing you do as a property manager. It doesn’t just make your life easier, it drives performance and maximizes income. There’s a very real temptation to fill vacancies as quickly as possible, minimize the time that a unit sits empty, and get back to earning management fees. But if you want to grow and mature as a property manager, you need to resist that temptation. Instead, you need to be selective about who you accept, using a clear, standardized process. When you pick the right residents, you can generate more revenue in the long term because you have fewer disputes, fewer issues, less delinquency, and higher renewal rates Your greatest liability isn’t the property, it’s the person in it There are three main sources of risk in real estate: Market risk: Think about the economy, job market, interest rates, etc. These will impact pricing, the number of applicants you get, and whether investors are buying or selling homes. The thing is, you can’t really do anything about. (Trust me, if I could magically change the global economy, I wouldn’t be writing blog posts right now.) You just have to accept them and stay aware of them. Asset risk: This is the risk associated with the physical property itself. Is it going to burn down? Is the boiler going to go out? Is a storm going to rip the roof off? We mitigate this risk by scheduling regular inspections, doing preventative maintenance, and carrying sufficient insurance. Resident risk: This is the risk that comes from your choice of resident and their behavior once they’ve signed a lease. Will they pay the rent, will they damage the property, will they sue you? That is just the tip of the iceberg. This is your largest source of risk and the only one that you have 100% control over. The thing about resident risk is that it’s inherently complex, yet you only get the decision on who you rent to when you (a) have a vacancy, or (b) choose whether to renew a lease. My philosophy is that If we can obsessively focus on our acceptance and renewal decisions, we can have a real impact on the business, but most companies aren’t making it a priority. Typically, property managers are accepting the first vaguely qualified applicant they get, and then renewing that lease at every opportunity unless something truly awful happens. Instead, we should be using verifiable, objective data to look at how residents are performing and what they’re costing us in time and energy, then making renewal decisions based on that. As always, every market and portfolio is different. I’m not going to be prescriptive about exactly how you should be making acceptance and renewal decisions, because it depends on the product you’re offering and the community you’re serving, but it should be backed by concrete metrics. The main thing is that you never want to be in a spot where you’re stuck with a resident because you renewed them when you shouldn’t have. You should be as deliberate about renewal decisions as you are about applications. Draw the line early, and watch the wrong applicants walk away Another hot take: If an applicant is “ghosting you” midway through the process, they’re not actually ghosting you; they’re actually just self-selecting out. And that’s a good thing. Self-selecting out of the process just means that the applicant realized it wasn’t a fit, or that you were probably going to decline them anyway. People opting to drop out of the process is actually a sign that you’re communicating your expectations and your process well. Applicants have digested that information and decided you’re not the right fit for them (and that means they probably weren’t going to be the right fit for you, either). When you’re trying to find residents to fill your vacancies, you basically have two main things that applicants are looking at: your product—what the property is—and your process—how you manage it and make decisions around it. You need to align on both in order to find a good fit. Your rental isn’t “just a rental.” It’s your reputation. The product you’re marketing is the property itself; the home someone’s going to rent from you. The quality of that product and how you present it are a direct reflection of your company. If you’re showing a property that’s not in excellent condition, clean, and ready to be shown, residents are going to assume that they’ll have a chaotic, less-than-stellar experience living there. If it’s well maintained, clean, and neat, that communicates that you’re on top of things. It shows that you care about the quality you’re delivering, and that you never treat a property as “just a rental” (which, by the way, is one of my least favorite phrases on earth). The process sets the terms of the relationship The process behind the product is how you run your business. How you approach maintenance, resident relationships, inspections, late payments… that’s all process. The application and leasing process is about filling a vacancy, yes, but it’s about telling the resident what to expect. When we work with a renter through the application process, we’re showing them that we’re going to be communicative and helpful, we’re not going to leave them high and dry, and we’re going to meet every obligation we have. We’re going to do it professionally, expertly, quickly, and friendly. At the same time, we’re communicating that the resident has obligations they’re agreeing to, and we’re going to hold them accountable to those. We’re illustrating what those obligations are, and that we’re not going to accept people who want to duck those responsibilities. In a way, this is where we’re giving them the opportunity to self-select out. If they aren’t ready for those expectations, this isn’t going to work. We’re not trying to scare them away, but we’re also trying to be honest and transparent about who we are and how we work. So how do we set that expectation? We start at the listing. Each of our rental listings includes a thorough description of both the property and our process, which aims to answer as many of their questions as possible. We want to outline our expectations to a T so that only those renters who are going to be a good fit actually apply. Part of that clarity includes describing our onboarding process, too. Moving is almost never fun for residents, so when you’re thinking about your onboarding process, you want to be there to support them, but you also need to set clear expectations. At OneFocus, we’re very upfront that we do a video move-in inspection. That’s often a 20-25 minute video where we walk through the home, open every cabinet and drawer, and document everything. We also ask the resident to do exactly the same thing so that we can clear up any inconsistencies. When we tell residents about this, it lets them know that we’re not a management company that plays fast and loose with security deposits. We don’t make exceptions and we don’t let things slide. How the applicant responds to that is very telling. It shows us who they’re going to be as a resident. Their cooperativeness throughout the application process is the only subjective piece of our application process. If they’re abusive, rude, unresponsive, and difficult to work with, that’s going to work against them. When I say that, I don’t mean just asking questions or getting clarification on how to go about the process. I actually really like residents who have a lot of questions for me about how I run my business. That’s not a nuisance, it’s a sign that they’re aligned with my expectations, they’re going to be a good fit, they’re proactive, and they’re communicative. They’re as invested in finding the right fit as I am. When I talk about difficult applicants, I’m talking about people who are repeatedly dialing, calling over and over and refusing to leave a voicemail. I’m talking about any kind of abusive language, yelling at my staff, or otherwise treating us poorly. I’m talking about repeatedly no-showing appointments that they’ve made and disrespecting our time. Those are all red flags that show us we probably don’t want to commit to working with this person for a year or more. Bend the rules today, pay for it tomorrow Building and sticking to a comprehensive process takes time, but it takes even more discipline. There’s a lot of pressure to fill vacancies quickly, both from your investor clients and internally. The thing is, over the years, I have deviated from my process, and every single time I’ve ended up paying for it later. At this point in my career, if a client asked me to do them a favor that circumvented my process, there’s a decent chance that client is getting fired. I don’t break from my process, and my clients know that. It’s never worth breaking the process just to fill a spot. If you’re struggling to find qualified applicants, yes, you can make some changes; revisit how you’re presenting the process, revisit your pricing, but don’t lower your standards and accept a resident who’s going to cause problems down the line. It’s not only a potential fair housing violation to deviate from your published process, it’s also just bad business. If the process fails, fix it—don’t abandon it If a resident gets through applying, selection, and my onboarding with me, they have no reason to be surprised with how I manage the property and what I expect from them. That’s the goal of a robust process. If you’re finding that your residents aren’t aligned with your expectations, it’s time to strengthen the process. It’s worth stating that you don’t strengthen your process by just updating your lease. Old-school managers tend to just add another addendum to the lease to cover whatever stupid thing the last resident did (and some of those addenda aren’t even legally enforceable). The best property managers will look deeper, make their process more thorough, and actually drive business improvements. Want to see how you can appeal to more financially responsible residents with benefits like credit reporting and identity theft protection? Request an RBP demo with a local expert today.

Calendar icon August 28, 2025

Read more

Build a Brand Residents Trust, and Vacancies Take Care of Themselves

Every property manager dreams of a flood of qualified, eager applicants to fill their vacancies, followed by happy renewals for years on end. But many of them don’t know how to position their company to create these happy, loyal renters. By branding yourself as a resident-friendly property management company, you can stand out from your competitors, attract residents to fill vacancies more quickly, and increase renewals, all without significantly changing your company’s process. At OneFocus Property Management, I’ve leaned into resident education as a means of brand building, but there are plenty of other ways to establish yourself as resident-friendly. The key is to make sure you’re actually delivering on that brand promise to drive genuine brand affinity among residents. Teach residents well, and they’ll trust you back I’ve previously written about how my go-to-market approach leans heavily on investor education. Now, as a second phase of growth, I’m building similar materials for residents. The sad reality is that there’s a huge void for resident education. In many communities, no one is educating residents on what’s available to them, what their rights are, or what they should expect from a high-quality rental property. That’s a gap that I want to fill. What does that look like? For one thing, I share with them the market research that I’ve developed for clients. I give them context for the market that they’re renting in so they can better understand things like pricing and competition. I also develop guides for the areas I service, giving them an overview of different neighborhoods and what kinds of housing stock are available here. I even give an overview of my competition, because if that’s what they’re looking for, I’d rather have them find it than rent from me and be a bad fit. I frame a lot of information through the lens of Fair Housing, giving residents a better understanding of their rights and how they should be treated. That starts to build a baseline knowledge among residents, which improves the property management industry as a whole, not just my company. In some markets, like mine, most residents don’t understand their rights or how they’re supposed to be treated, so when you start treating them correctly, it stands out. For renters, there’s always some insecurity about housing. My goal is to provide as much security as possible. When you provide valuable information to applicants and residents, you start building trust and brand affinity. Beyond education: More ways residents see your brand Our branding doesn’t just happen through resident education, even though that is a huge focus for me. We’re also looking to build loyalty with each and every touchpoint in the resident journey, even if they never actually end up renting from us. Listing sites To start, we’re branding our listings on sites like Zillow and Trulia. When I say that, I don’t just mean a watermark on each of the listing photos. Instead, we’re writing listings in a way that makes it clear to the reader that it’s a OneFocus property. Each of our listings incudes: As much information as possible, clearly detailed A high-effort, high-energy video introducing the property and driving engagement High quality photos that reflect the effort we put into our management An easy self-scheduling process for showings We’re always trying to make it easier for people to recognize us and see how present we are. The goal is ultimately to shift those users over to our website to look at our available properties there. If we can achieve that, we can make an even bigger impression and really drive a positive association with our company. Community involvement One of the next areas I want to get my company even more involved is community events. I’d love to work with local organizations to provide education to the general public, especially on things like: What is Fair Housing? How does it work? How is the housing market changing in our area? What’s typically expected of residents when they apply for a rental? It’s a great way to continue that resident education while also getting more eyes on our company, and of course it’s a fantastic way to give back to the community. This is a people business, so getting involved is essential. Review management We work hard to make sure that the reviews people are posting about us online tell the true story of interactions with our customers. That means we’re not only encouraging happy residents to leave reviews, but we’re also creating moments of delight that they actually want to write about. It also means that, when we get a negative review, we’re not dismissing it out of hand. Instead, we’re taking that feedback seriously and always trying to improve. A brand promise means nothing if you don’t deliver The biggest part of this, of course, is actually delivering a resident experience that upholds the trust and loyalty residents are putting in us. If we’re not delivering on our brand promise, we’re not going to maintain that brand for very long. Responsiveness defines real success For us, success isn’t just about increasing tenant duration or holding a certain renewal rate. Instead, it’s about delivering high quality service at market rents. That’s what’s best for us, our residents, and our clients. Top of the list is responsiveness. We want to build a reputation as trustworthy, responsible people. We’re on top of our stuff and we’re willing to be held accountable. That means not delaying things. We’re highly responsive to every single person that we interact with, not just our residents and our investor clients. Think about all the other people who come into contact with us: vendors, judges, attorneys, tax officials… the list goes on. I want everyone in the community to know that we’re responsible and can be trusted. This isn’t just about branding, it’s about helping people understand the value that we bring to the table and how we’re different. When residents become raving fans A lot of small businesses struggle to measure whether or not their branding efforts are working. They might feel like they’re creating a trusted perception of their company, but how can they really know? Well, here are a few ways we’ve seen our branding efforts reflect back on us. For one thing, on the off chance that we’ve stopped working with a client, we’ve had residents who were devastated. When they found out that we weren’t going to be managing their home anymore, they were upset, because they were going to miss the level of service we deliver. That’s a huge compliment, and such a testament to the relationships that we develop. Second, we’ve had prospective applicants come to us and say, “I want to rent from you. Can you help me find a property?” Rather than finding the perfect property that just happens to be managed by us, they know first and foremost that they want to rent from us. Those calls are always hugely flattering, and we want to do everything we can to deliver for them. I’m looking to build a true multi-generational reputation. In fifteen years, I want someone to call me up and tell me, “Hey, I grew up in a OneFocus house. I want to live in one again.” That’s true loyalty. Final thoughts: Branding works when you know your market—and yourself Like everything in real estate and property management, all of this is subject to your local market. A lot of these branding strategies are going to be harder in more competitive markets, but they’re also going to matter more. There are more companies for residents to compare you to, and that means you have to meet a higher standard. At the same time, though, larger markets also offer more opportunity for collaboration. Maybe there’s another company that you can partner up with on some of this educational content, or just brainstorm and get creative with. Finally, some markets have longer or shorter renewal notice periods than others. The tighter the notice period, the more your branding is going to matter. With less lead time for a vacancy, you need to have eager, excited prospective residents lining up around the block to apply. That’s all down to your brand. Looking for more insights from expert property managers? Join the Triple Win Property Management Facebook Group.

Calendar icon August 25, 2025

Read more

Topics

AI Property Management Software: Achieve Higher ROI with More Satisfied Residents

AI property management software is helping property managers save hours, cut costs, and keep residents longer. By automating time-consuming tasks like scheduling, rent reminders, and maintenance tracking, these tools give you more bandwidth to focus on what matters most: resident satisfaction and portfolio growth. But how do you know which AI property management software is right for your team? In this guide, we’ll look at the strongest AI property management software options available today, from established names like AppFolio and Buildium to innovative AI-first platforms. You’ll see how features like predictive maintenance, automated messaging, and smart rent workflows can transform day-to-day operations. Plus, you’ll see an overhead view of where each tool fits best depending on your portfolio type. What is AI property management software and how does it work? AI property management software uses artificial intelligence to automate and improve daily property management tasks. Instead of manually tracking rent payments, responding to maintenance requests, or juggling dozens of vendor schedules, these systems handle the busywork in the background. This lets you focus on strategy and resident relationships. At its core, the right AI property management software learns from your portfolio data to make smarter, faster decisions. That can mean: Predictive maintenance to flag potential issues before they become expensive repairs. Automated messaging that answers resident questions instantly and keeps communication consistent. Smart scheduling to coordinate vendors and team members without manual back-and-forth. Data-driven insights that help you adjust pricing, renewal strategies, and marketing spend. The result is a system that speeds up repetitive workflows and also supports better decision-making across your entire portfolio. These AI tools adapt to your processes and scale as you grow. They can be applied to the management of single-family homes, multifamily communities, or mixed portfolios. Why are property managers investing in AI property management software? The demands on property managers have never been higher. You’re expected to keep operating costs low, meet rising resident expectations, and manage growing portfolios. You’re also asked to do all of this without adding staff, which is not an easy job! AI property management software is helping bridge that gap. Three big shifts are driving adoption: Higher resident expectations: Residents now expect the same speed and convenience they get from popular apps. They want immediate answers, instant maintenance fixes, and easy self-service tools. Tighter margins: Maintenance costs, turnover expenses, and labor shortages are eating into profitability. AI helps control these costs by automating time-consuming tasks and spotting problems early. A shift from reactive to proactive management: Instead of scrambling to fix problems after they happen, AI tools predict issues and automate preventive measures. Overall, this will keep your properties in better condition and residents more satisfied. For many operators, AI property management software is becoming essential for scaling. Which AI property management software platforms should you test? The AI property management software you choose will come down to three categories: Your portfolio type Budget The workflows you’ll be streamlining Let’s take a brief look at each platform to help you match AI property management software to your portfolio type. AppFolio AppFolio blends property management features with AI capabilities like automated leasing workflows, rent collection, and smart maintenance scheduling. Its AI Leasing Assistant “Lisa” responds to inquiries 24/7, qualifies leads, and books showings automatically. The platform’s advanced analytics also provide real-time portfolio performance insights. Best for: Mid-size to large portfolios needing a comprehensive, all-in-one solution with deep integrations. Buildium Buildium is the AI property management software best known for its approachable interface and quick onboarding. This is ideal for teams without a dedicated tech department. Its AI features include automated rent reminders, dynamic pricing recommendations, and resident churn prediction. Buildium also integrates with popular maintenance platforms, making it easier to track vendor performance and resident satisfaction without switching systems. Best for: Small to mid-size property management companies that want straightforward AI tools alongside core PM features. Hemlane Hemlane focuses on remote-friendly property management. Its AI-driven leasing automation, maintenance coordination, and compliance tracking are designed for operators managing scattered-site properties. The smart task routing ensures requests are sent to the right vendors quickly, reducing delays and resident frustration. It also offers virtual showing capabilities, allowing you to lease units without being on-site. Best for: Single-family operators and geographically dispersed portfolios. AI-first tools These next platforms were built from the ground up with AI at their core. They often integrate with larger property management systems to add specialized capabilities without replacing your current tech stack. Stan.ai: AI-powered leasing assistant that handles inquiries, books showings, and nurtures leads automatically. It’s designed to boost leasing speed and conversion rates. EliseAI: Conversational AI for resident communication, maintenance requests, and leasing, with natural language capabilities that mimic human conversation. MagicDoor: Combines AI with resident engagement features like rewards programs, automated reminders, and event scheduling to increase satisfaction and retention. Trudi.ai: AI assistant for automating routine administrative tasks, from responding to emails to scheduling maintenance, freeing up staff time for higher-priority work. Next, we’ll take a look at which AI property management software fits with your portfolio type. How to choose the best AI property management software for your portfolio type Choosing the right AI property management software starts with considering your portfolio type. The chart below breaks down which tools work best for different portfolio types, so you can see at a glance where each option fits. Portfolio type Key needs and priorities Recommended platforms Standout AI features Single-family operators Remote management, vendor coordination, leasing automation, and maintenance tracking Hemlane, Trudi.ai, MagicDoor AI leasing assistant, smart maintenance routing, mobile-first workflows Small- to mid-size multifamily Centralized operations, predictive maintenance, resident self-service Buildium, AppFolio Predictive maintenance alerts, AI-driven rent reminders, unified dashboard Large-scale portfolios Scalability, deep integrations, high-volume automation, and advanced analytics AppFolio + Stan.ai or EliseAI Conversational AI for residents, bulk task automation, and rent optimization analytics Best AI property management software for single-family operators For single-family and scattered-site management, efficiency hinges on eliminating manual tasks that typically consume a significant portion of your day. You should be on the lookout for: Remote-friendly tools: These allow you to manage leasing, inspections, and maintenance without being on-site. AI leasing assistants: Respond to inquiries 24/7 and prequalify leads, cutting down on missed opportunities. Maintenance automation: Route requests directly to vendors and track completion in real time. Best fits: Hemlane, Trudi.ai, MagicDoor. These offer simple, affordable automation without the overhead of a full enterprise platform. Best AI property management software for small- to mid-size multifamily portfolios For portfolios in this range, the challenge is managing higher resident density while maintaining a personalized touch. Priorities include: Centralized dashboards: Combine accounting, leasing, maintenance, and communication in one system. Predictive maintenance features: Help to avoid costly emergencies and extend the life of building systems. Resident self-service portals: For rent payments, renewals, and service requests, which in turn reduces inbound calls and emails. Best fits: Buildium, AppFolio. Both offer integrated AI capabilities without requiring you to piece together multiple tools. Best AI property management software for large-scale portfolios When you’re managing hundreds or thousands of units, scalability and integration are key. You can keep your focus on: High-volume automation: For leasing, renewals, and maintenance coordination. Deep integrations: Manage the business end-to-end with accounting, CRM, and marketing tools. Advanced analytics: Spot trends, optimize rent pricing, and forecast maintenance budgets. Best fits: AppFolio for an all-in-one approach, or combining it with AI-first tools like Stan.ai or EliseAI for advanced resident engagement and lead management. Finding the right AI property management software is key. But what is the overall benefit to using them once you’ve found the right one? That’s what we’ll take a look at next. What are the key benefits of AI property management software? When you’re looking at the benefits AI property management software brings, you’re really calculating your return on investment (ROI). You want to see the measurable impact that new tools can have on your bottom line and resident retention. When implemented strategically, AI property management software can: 1. Save time on repetitive work AI can handle routine tasks instantly. This frees up your team to focus on owner relations, strategic marketing, or resident engagement. 2. Reduce maintenance costs Predictive maintenance tools analyze historical data and property conditions to flag potential issues early. Fixing a problem before it escalates can save hundreds, or sometimes thousands, per property each year. 3. Improve resident satisfaction and retention Fast response times, proactive communication, and self-service options create a smoother resident experience. The easier it is for residents to pay rent, request service, or get information, the more likely they are to renew. 4. Enhance decision-making with better data AI platforms consolidate your operational data into actionable insights. This can help you: Optimize rent prices based on market trends Identify at-risk residents before they give notice Adjust marketing spend to target the highest-converting channels 5. Scale without adding headcount Because AI handles high-volume, low-complexity work, you can grow your portfolio without increasing staff at the same rate. 6. Streamline communication AI-driven messaging keeps owners, residents, and vendors informed automatically. Your team stays on the same page with a unified system of communication. What are the common challenges when adopting AI property management software? AI property management software can transform operations, but adoption doesn’t come without hurdles. These are some of the challenges to be aware of, especially as you integrate AI property management software with your team: 1. Data accuracy and quality AI is only as good as the data you feed it. If your records are incomplete, outdated, or inconsistent across systems, automation may produce inaccurate insights or send the wrong messages to residents. 2. Integration gaps Not all AI platforms play nicely with your existing tools. Confirm that the software integrates with your accounting, CRM, marketing, and maintenance systems. 3. Balancing automation with human oversight While AI can handle routine communication, resident relationships often require empathy and context. Over-relying on automation can make interactions feel impersonal and lead to missed opportunities for connection. 4. Change management Your team will need training to use the new tools effectively. Prioritize clear onboarding and process updates. 5. Compliance and security concerns AI platforms process sensitive resident and owner information. Make sure your AI property management software meets data protection and privacy regulations in your region. 6. Overestimating capabilities AI property management software can be a powerful tool, but it’s not a magic wand. Setting realistic expectations about what it can and can’t do is important for measuring ROI and avoiding disappointment. How Second Nature complements AI property management software These AI property management software platforms have the potential to generate a higher ROI for your entire portfolio. But, there is a level of human touch that keeps residents satisfied and renewing. Second Nature’s fully managed Resident Benefits Package complements AI property management software to deliver tangible, high-value services residents can see and feel. These services go beyond AI processes to create a living experience that current and future residents are willing to pay for and stay for. Here’s how Second Nature’s Resident Benefits Package works: Proactive maintenance engagement: Built-in programs like air filter delivery encourage residents to take care of small maintenance tasks before they escalate. Changing air filters at the right time can reduce HVAC-related work orders by 37%. Resident rewards program: Incentivizes on-time rent payments and other positive behaviors with gift cards and rewards. Credit building: Automatically reports on-time rent to all three major credit bureaus, boosting residents’ financial health. Renters Insurance Compliance: Tracks coverage for every resident, automatically enrolling them if a policy lapses. Your AI property management software will help keep your operations efficient. Second Nature keeps the resident experience on pace. Together, they create a powerful combination: streamlined workflows, happier residents, and a healthier bottom line. As an example of how the Resident Benefits Package works, Hive Real Estate saw a 40% increase in on-time payments and a 50% reduction in maintenance requests. Elevate your AI property management software with Second Nature AI property management software can streamline your day-to-day. Pair it with Second Nature, and you’ll create a resident experience that drives renewals, reduces maintenance costs, and delivers higher ROI without adding to your workload. See how your current tools and Second Nature’s fully managed Resident Benefits Package can work together to keep residents paying and staying. Try out a demo today and discover how to make every property in your portfolio easier to manage and more profitable to own. FAQ What is AI property management software? AI property management software is a digital platform that uses artificial intelligence to automate and improve core property management tasks. It can handle rent collection, predictive maintenance scheduling, resident communication, vendor coordination, and portfolio analytics without manual intervention. These tools help landlords, property managers, and real estate investors reduce operating costs and improve resident satisfaction. How does AI property management software work? AI-powered property management systems use algorithms and machine learning models to analyze data from your portfolio. This enables features like smart rent reminders, automated maintenance requests, conversational AI for resident support, and dynamic pricing recommendations. The software can integrate with accounting systems, CRM platforms, and leasing tools to create a connected property management workflow. What are the benefits of AI property management software? The main benefits include time savings through automation of repetitive tasks like rent reminders and vendor scheduling, lower maintenance costs with predictive maintenance tools that flag issues early, improved resident retention via proactive communication and self-service portals, better decision-making using data-driven insights for pricing, renewals, and marketing, and scalability without adding headcount. Which AI property management software is best for my portfolio type? The best choice depends on your portfolio. Single-family operators may prefer Hemlane, MagicDoor, or Trudi.ai for remote-friendly management. Small- to mid-size multifamily operators may benefit from Buildium or AppFolio for predictive maintenance and resident self-service. Large-scale portfolios can pair AppFolio with Stan.ai or EliseAI for advanced analytics and resident engagement. Does AI property management software replace human managers? No. While AI can automate many administrative and operational tasks, it cannot replace the human element of property management—especially when it comes to empathy, negotiation, and relationship-building with residents. Instead, it frees up managers to focus on strategic growth and customer experience. How much does AI property management software cost? Pricing varies based on features, portfolio size, and whether you choose an all-in-one platform or an AI-first tool that integrates with existing systems. Entry-level solutions may start at $1–$2 per unit per month, while enterprise systems can cost more depending on customization and support. Can AI property management software integrate with my existing systems? Most modern AI property management platforms integrate with popular accounting software, CRM tools, maintenance tracking systems, and marketing platforms. Always confirm compatibility before purchasing to ensure seamless workflows. How does AI property management software improve resident satisfaction? By automating communication, providing 24/7 responses to inquiries, enabling faster maintenance resolution, and offering self-service portals, AI tools make the rental experience easier and more convenient—key factors in boosting lease renewals.

Calendar icon August 21, 2025

Read more

Planning for Vacancies Starts at Lease Signing

Most property managers start planning for renewals and vacancies around the 60 or 90 day mark, as the existing lease starts coming to a close and it’s getting toward decision time. But great property managers start planning as soon as the resident signs a lease. As a strategic property manager, you need to start resident relationships off on the right foot, and then keep that momentum throughout the entire lease. From day one, you’re either setting yourself up for a renewal… or you’re setting yourself up for a vacancy. Every touchpoint, every bit of communication, and every process you run builds toward one of those outcomes. Lease signing sets the tone Lease signing is more than paperwork—it’s your first big impression. The way you run the process, the way you communicate, and even the way you choose residents shapes their opinion of you. And whether they’re likely to stick with you for the long haul… From the very first interaction, you should be conducting and presenting yourself in a way that shows you care about renewal. Residents can tell when we’re just trying to fill a vacancy or when we’re actually invested in building a lasting relationship. A huge part of this is just making sure you’re signing the right residents. I’m a big advocate for the first-come, first-served system (assuming your marketing and screening process is solid). The right-fit resident is often also the one who’s easy to work with and more likely to renew. No matter your selection method, the goal is to show professionalism and care from the very beginning. The “Raving Fans” phase I like to call the first 90–120 days after move-in the Raving Fans phase—because your job is to turn new residents into people who love working with you. Practicing unreasonable hospitality You should be setting check-ins, calls, letters, gifts… anything you can do to delight your residents. While that might sound like a huge undertaking, it actually doesn’t require a ton of money, and sometimes you can even bill some of the expenses back to the owner. As a property owner myself, I approve an annual gift budget because I know that it’s a strong investment in the future. And here’s the thing: a lot of this can be automated. I’ve used third-party services that handwrite and mail cards for us, based on messages we send them. Residents get a personal touch, but your team doesn’t get buried in busywork. We call this approach “unreasonable hospitality.” The goal is to help build a positive association with your company. You don’t want residents to see an email, text, or piece of mail from you and assume that something’s wrong. Instead, you want them to be excited to hear from you. Remember, these don’t have to be incredibly personalized gifts. That’s great if you can do it, but it’s often not realistic with how busy your team is. Don’t put off sending gifts because you want to personalize them. Perfect is the enemy of good. Find a gift level that makes sense for your margins and your market, and stick with it. Educating and setting expectations The Raving Fans phase isn’t just about “feel-good” touches. For example, you should provide clear instructions on understanding the maintenance portal, submitting a maintenance request, and what your company considers an emergency. The goal is to educate them, get on the same page, and create consistent expectations. You’re identifying potential points of contention and resolving them before they even happen. All of that drives a better resident experience and increases the likelihood of a renewal when the time comes. I think that too many property managers assume a level of knowledge that residents don’t necessarily have. We’re so involved in our businesses every day that we forget our residents might not have the same knowledge that we do. For example, what is or isn’t an emergency? When should something be reported in order to prevent future damage? What’s the property manager’s responsibility and what should be reported to an HOA? Helping residents understand these things early makes them more confident, more comfortable with our management style, and more likely to have a positive experience. Before wrapping up the Raving Fans phase, let them know exactly when they will hear from you next. Share a simple outline of your upcoming communications, including when you typically start renewal conversations, so they know what to expect and keep that positive association when your name appears in their inbox. The day-to-day management phase Once the Raving Fans phase ends, we enter what I call the day-to-day management phase. This is where things are typically pretty quiet, unless one of the following pops up: Lease violations HOA violations Delinquencies Maintenance requests None of these are “fun” for residents. The key is to handle them with empathy and clarity—and to frame things in a way that feels protective, not punitive. If you have a six-month inspection in your process, it will also fall in this phase. While it is not as negative as a delinquency or major repair, it is still a disruption. For us, inspections are routine, but for residents they can feel intrusive. Keep it positive by being transparent. Explain that the purpose is to check for anything that could affect their health, safety, or comfort, not to look for violations. Give clear notice, outline how long it will take, and explain if photos will be taken and why. When handled well, inspections can build trust instead of damaging it. The rest of the day-to-day management phase is just staying the course and maintaining a high quality of work. That means maintaining clear communications, working with the right vendors, and delivering fast resolutions to any resident concerns. Start renewal conversations early As the day-to-day management phase goes on, you’ll want to communicate as early as possible about a renewal. You’re not making a commitment to renew, but you’re asking what their plans are and whether they’re interested in renewing. I think it’s completely reasonable to do this 150 to 120 days before lease end. While that might seem a little bit extreme, getting buy-in early and being as prepared as possible is hugely beneficial. This isn’t just about the resident, either. You should be having similar conversations with the property owners. It’s so, so valuable to gauge interest in a renewal from both sides. You might get insight on whether an owner wants to renew, or if they’re potentially considering selling the property. On the other side, you might find out that a resident is planning on relocating or buying a property. Of course, if you have a sales arm of your business, that can tee up an easy sale. There have also been times when an owner planned to sell but a resident wanted to renew, and the guarantee of that renewal meant that the owner was willing to hold off for another year. Not only did it secure management fees and reduce my customer churn, it also set the owner up for better returns the next year when the market was in a better spot. The earlier you do this, the more you can establish peace of mind for both your clients and your residents. As property managers, we’re the only people in the equation who really have the power to do that, so we should wield that power responsibly. Final thoughts Renewals aren’t decided in the last 60 days of a lease. They’re decided over the course of an entire tenancy—through every single interaction, big or small. If residents see you as a helpful partner who makes their life easier, they’ll want to stay. If they see you as just a rent collector or rule enforcer, they won’t. Set the tone at lease signing, nurture the relationship, and educate your residents along the way. That’s how you minimize vacancies and keep renewal rates high.

Calendar icon August 19, 2025

Read more

The Costs of Marketing a Property Too Early

Many property managers, especially those feeling pressure from their investor clients, might be tempted to list properties as early as possible. Instead of waiting until 30 or 45 days before a vacancy, they list it four to six months in advance. The idea is that the longer a property is listed, the more opportunity you’ll have of finding a qualified resident. In reality, there’s almost no benefit to listing a property far in advance, and it comes with a lot of hidden cost. Whenever possible, property managers should wait until a property has been turned and is rent-ready before listing, so that the listing is accurate, fresh, and appealing, and showings present the best property possible. In this article, I’ll walk through why you should wait to list properties, the costs—both financial and reputational—of listing too soon, and how to work with owners who want to push properties to market ASAP, potentially to the detriment of their bottom line. Keep it fresh: preventing stale listings One of the biggest risks in posting a listing too early is that, in the eyes of prospective residents, it will turn stale quickly. Even with great photos and accurate details, a long-standing post raises red flags for potential renters. Most renters aren’t looking several months ahead; many don’t even know if they’re renewing their current lease. Meaning, by the time most qualified residents start looking at your listing, it’s already been up for weeks or months. The two thoughts residents have when they see a stale listing are: “Did someone forget to remove this? It’s probably been rented already. Maybe it’s a ghost listing,” or “Why has it been available so long? Something must be wrong with it.” In both cases, we have lost the attention of a potential renter due to no fault of the property. The bottom line? If you don’t have a set move-out date for the current resident, or the available date isn’t in the next 60 days, it’s probably too soon to list. Update your description every time When it does come time to post a listing, make sure you’re revisiting the content. You should never be reposting a listing with the exact same description that you used during the last vacancy. Reread it and update it, even if you haven’t done any major renovations to the property. Even small things may have changed; “fresh paint” might now be “two-year old paint,” and even though it seems like a small difference, applicants will notice. Rewriting listings from time to time also helps algorithms recognize that it’s a fresh listing and not spam, which can help increase the number of views your listings get on sites like Zillow or Apartments.com. It also shows repeat viewers that the listing has been updated, making it feel current rather than outdated or stale. Choose photos wisely Some listing agents swear by taking new photos every time a unit is listed. Others will use the same pictures for a decade or more. My advice is to fall somewhere in between. If you have older photos that are high quality and still accurately reflect the current state of the property, feel free to use them. Just make sure that they present the property fairly, both the good and the bad. If something big has changed since the last time the property was made available—like flooring, paint, countertops, or fixtures—update the photos so prospective residents know exactly what they’re applying for. Protect your reputation A big part of waiting to list a vacant property is protecting your reputation, among both current and future residents. Showing an occupied property is particularly risky, because it can irritate the current resident and make a less-than-stellar impression on the applicant. Among current residents Showing an occupied home is sometimes necessary, but it can create friction. I recognize that it’s unavoidable in some markets, and that’s okay. But if you have the option to wait until the unit is empty, you should. Residents who feel imposed on are going to be much more inclined to leave a negative review. In fact, even if they’ve had a great year, or two, or even three, if you cause disruption and frustration at the end of their stay, it will reflect poorly on you, thanks to the peak-end rule. The peak-end rule states that, in any experience, we tend to remember two parts: the most intense point (good or bad) and the ending. How an experience ends has a disproportionate impact on how we rate that experience, so making life difficult for a resident at the end of their lease is going to leave a bad taste in their mouth. And, of course, we all know that people are more likely to leave negative reviews than positive ones, so creating a negative experience at the end of a lease cycle is just encouraging bad reviews. It can also make a resident more likely to try to fight a move-out charge or a deduction from their security deposit, even if it’s completely justified. The end of a lease is already a high-touch period for our residents, so adding more to the pile only increases the risk of a negative interaction. There are, of course, exceptions to this rule. And when you fall into one of those exceptions, the most important thing to do is communicate clearly. For example, if you know well in advance that a resident is not renewing due to a job change, life change, or home purchase, then you can have a conversation with them about when and how you’ll be showing the property. You might decide to list the property a month in advance and begin showing it while it’s still occupied, but only schedule showings for qualified people who have already applied, in order to minimize disruptions. Try to put yourself in the shoes of the resident (who’s probably already stressed about preparing for a move) and do whatever you can to make their life easier. Among future residents Even if you’ve communicated effectively and your current resident is okay with showings, you still have the future resident to consider. Occupied properties are rarely show-ready. Clutter, odors, and personal belongings can turn off applicants instantly. And remember—every photo and detail in your listing reflects on your reputation. If the property doesn’t look its best, why take the chance? Besides, the whole time they’re looking at the property, they’re already going to be wondering, “well, if I live here, am I going to have to deal with people coming to see my house before I move out?” Consider the financial impact A listing that sits for months creates more work: extra showings, additional cleanings, more calls to answer, and more negotiations with applicants. Add to that the time spent fielding calls or inquiries about it, especially from potential applicants just asking “Is this still available?” (Remember, stale listings tend to raise more questions.) Older listings often weaken your rent position, putting you on the defensive in discussions. Meanwhile, your team is tied up managing this property instead of focusing on other priorities. Market conditions change quickly The last major issue with marketing a property too early is just that a whole lot can change between listing and move-in day. Whether it’s economic factors changing rents in your market or your new resident’s life circumstances, you can end up in a very different situation than you expected. Getting rent right Making sure that rent is fair and competitive is always a challenge in this industry. You have an obligation to get the best possible outcome for your client, but you also have to find a number that will attract qualified applicants. In many markets, property managers are required to rerun rent comps every 90 days, but in some markets there can be big shifts in as little as two or three weeks. If you’re listing a property six months in advance, it’s nearly impossible to assess a competitive rent price. Seasonality is huge here: listing a May vacancy in December makes it harder to justify peak-season rates. Tracking rent trends allows you to show owners the data: waiting often means higher returns. Your company should be tracking how rents rise and fall throughout the year. This not only helps you predict future adjustments but also gives you the hard data to tell investors, “We shouldn’t list this six months early—if we wait until 30 days before move-in, you’ll likely get a much better price.” Tracking trends and timing listings strategically often means higher returns and stronger owner trust. Life circumstances can change Beyond just economics, people’s life circumstances change. Someone might get a new job or lose their current one. They might decide that they want to move in with a partner instead of renting on their own place. The more time there is between signing a lease and moving in, the greater the chance that life events will derail the plan. In other cases, new properties hit the market closer to their move date, and your applicant gets cold feet or finds something they like better. That can put you in the awkward position of dealing with a cancellation request and starting the process all over again. Final thoughts Owners may push for early listings to minimize vacancy loss, but in practice, it often backfires—creating tight turns for vendors, missed rent opportunities, and avoidable stress for your team. Use your data and market knowledge to help owners see that patience isn’t just about avoiding problems - it’s about maximizing profit in the long run.

Calendar icon August 14, 2025

Read more

Receive articles straight to your inbox

Social Media Marketing for Property Management: A Comprehensive Guide

In the age of influencers, property management has been no exception. More and more property managers are building their personal and company brands across social channels, drawing more eyes and building trust with their customers. So how can you leverage social media marketing for property management, and drive real business results? In this article, we’ll walk through how property managers can position themselves on social media, and provide a comprehensive guide for property managers who want to grow their business through better social content. We’ll look at how to choose which platforms to use, setting up a content strategy, driving engagement, purchasing social ads, and building your brand as an individual and a company. What is social media marketing for property management? Social media has become an essential marketing channel for property managers over the last decade. More and more, residents and owners are searching for and engaging with their PMs on social channels like Facebook, LinkedIn, and X. Social media platforms allow property management companies to create branded pages where they can receive and send private messages, post public announcements to a wider audience, and solicit customer reviews. More and more residents are spending time on social media, regardless of age. In fact, nearly 64% of people globally use social media in 2025, compared to just 47% in 2020. That means that social channels are prime opportunities to increase visibility for your business, show your expertise in the industry, and convince both real estate investors and residents to work with you. A strong social media presence can set you apart from competitors, and also help you be found more frequently in web searches. Combine that with the ability to quickly communicate with existing customers and residents, and the benefits quickly become clear. Why social media matters for property managers Social media is the perfect forum to boost your brand reputation and create a unique voice. In such a people-first business, property managers should be embracing their personal voice and opinions to build a sense of authenticity and trust. In fact, more and more, weaving your personal story into your company brand helps users develop relatability and attachment to your band. Social media provides an invaluable opportunity to share personal anecdotes and thoughts, no matter how short or long, that show you’re an expert in your field. By engaging with others and having meaningful conversations online, you can also build your professional network and learn from those around you. Even providing simple tips or insights on other people’s posts can help build your expertise and get you noticed more often. You can also engage with both residents and investors in comments, direct messages, and community groups. By being easy to find and reach, you present an image of accessibility, responsiveness, and reliability, and show that you prioritize customer service. Choosing the best social media platforms for property management Selecting where to invest your time on social media can seem a bit overwhelming. There are plenty of options, but we’ll break down the strengths of each and where you should prioritize your efforts. Evaluate platform fit based on your audience Start by deciding who you're trying to reach on social media. Different demographics tend to use different platforms, and Pew Research (2024) reveals clear usage patterns by age and demographic: YouTube (83% of U.S. adults): Universally popular, this video sharing giant is ideal for property walkthroughs, FAQs, and educational videos. It’s a great fit for any age group, and is actually one of the largest search engines in the world. Facebook (68% of U.S. adults): Facebook is most used by adults aged 30–64. It’s perfect for reaching Gen X and baby boomers, and community groups and local events make it a great platform for reaching local renters. Instagram (47% of U.S. adults): Highly used by adults under 30 (78%), Instagram is for far more than just posting what you ate for brunch. Use Instagram for showcasing visuals, lifestyle branding, and behind-the-scenes content, and leverage stories for short video promos for vacant units. TikTok (33% of U.S. adults): TikTok is one of the hottest social tools around, and usage has grown 12% since 2021. It is especially popular among adults 18–29 (62%). It’s perfect for lifestyle content, renter tips, and fun property highlights. LinkedIn (30%+ of U.S. adults): LinkedIn skews toward college-educated professionals, particularly those aged 30–49, and is best for B2B networking, attracting investors, and vendor outreach. Residents tend to be less active in engaging with their property managers on LinkedIn. Pinterest (30% of U.S. adults): Female audiences tend to dominate Pinterest. This app is all about sharing visual ideas and inspiration, making it perfect for decor boards, seasonal refresh tips, or neighborhood features. Choose a platform that will help you meet your goals In addition to your audience, you have to know your target goals, because not every platform fits every objective. Here's how to align your strategy: Brand awareness & retention: Facebook, Instagram, YouTube Networking & lead generation: LinkedIn Lifestyle marketing & education: TikTok, Instagram Reels, YouTube Shorts Visual storytelling & design inspiration: Pinterest Consider your resources and bandwidth When you’re choosing your channels, remember that it’s about quality over quantity. Rather than establishing profiles on every single platform and trying to juggle them all, start with just two or three platforms and focus on getting them right. Then, once you’ve gotten the hang of things, you can consider adding more. If you’re posting often and across multiple platforms, consider using a scheduling tool like Buffer or Hootsuite to plan your content in advance. These kinds of tools can also allow you to post to multiple platforms with a single click, rather than having to create the same post over and over on different apps. If you use certain marketing automation tools, they may already have social media scheduling functionality built in. Remember that many channels have similar formats, so you can often repurpose the same content. For example, you can post a short video as a TikTok, a YouTube Short, and an Instagram Reel, reaching more people without substantially more effort. Content ideas for property management social media Remember, property management is a highly social, highly visual business, so there are tons of opportunities for great content if you get creative. You don’t have to limit yourself to just promoting listings, either. You can share tips and tricks, behind the scenes looks at your team, and elements of your company culture that will encourage people to work with you. Here are some ideas to get you started: High-quality photos and videos of listings Neighborhood highlights and community amenities “Meet the team” spotlights Seasonal maintenance tips Reviews and tagged posts from residents Tips on rental processes, maintenance reminders (like air filters), and lease renewals Behind-the-scenes, day-in-the-life reels, and resident events What it’s like to live at one of your properties Viral trends that you can tie to your niche The possibilities are endless, and don’t be afraid to take inspiration from other property managers who are killing it on social media. Social media content strategy for property managers With all these possibilities at your fingertips, it’s important to set an overarching strategy for your social efforts. You don’t want to be posting haphazardly or inconsistently, or sending mixed messages in your posts. Set clear goals for your efforts Make sure you know the purpose of your investment in social media. Start by defining what success looks like. You might be looking to increase brand awareness, generate more leads, retain residents longer, or something else entirely. Whatever your goal is, make sure that you identify KPIs that align to those goals, and measure your progress regularly. Build a content calendar Building a schedule of your content can help make sure you’re sharing consistently, but it can also save a lot of time. Work to batch your content creation and schedule weekly posts, which will minimize the time spent on social tools. Make sure you’re varying content types, too. For example, you might commit to posting one listing, one testimonial, and one local highlight per week. Stay consistent and on-brand You want to make sure that your visual branding is consistent across all your different social platforms, and that what users find there also matches what they’ll see on your website. Beyond that, you should establish a clear tone that you use across all your posts so that your audience is always experiencing a consistent version of you. Paid social media ads for property management Now that you have a strong understanding of organic posting on social media, it’s time to take a look at advertising, also known as sponsored content or paid social. Social media is a great opportunity to reach new audiences with ads, as long as you follow a few key guidelines. Why paid social matters in 2025 Millions of renters are scrolling their social feeds daily. That creates a massive opportunity to get your listings in front of them. Social platforms also offer a uniquely effective way to target users by location, income bracket, and life stage, allowing you to better find potential applicants who are a strong fit for your properties. Especially in competitive markets, social ads can keep your brand and your properties top of mind through each and every decision stage. Create scroll‑stopping ads Creating effective ads might seem challenging, but it’s all about the visuals. Use high‑quality photos, 15‑second videos—framed vertically, to match users’ devices—or 360° tours. If you’re posting videos, make sure they have text overlays for users who are scrolling without sound on. Captions and copy should be brief and benefit-focused. Optimize targeting and budgets Social platforms also allow you to create look-alike audiences using your past resident, applicant, or owner lists. That means you can target your ads specifically to the people who best fit your customer profile. You can also retarget your website visitors, especially those who may have started filling out an inquiry form but then abandoned it. When you’re just getting started, try a balance of about 70% prospecting ads and 30% retargeting ads, and then evaluate every thirty days to rebalance your ad mix. Measure and refine performance Make sure that you’re tracking key metrics like click-through rates of your ads, cost per lead from social media, and numbers of tours and leases that come from your social channels. You can also create A/B tests for different ad creative and update it weekly. Some platforms even let you automatically pause low-performing ads and boost those that win A/B tests. Don’t forget to use UTM tags and tracked links so that you can specifically tie new business to your social media efforts. Tracking social media performance for property managers As you build your social media strategy, make sure you’re consistently measuring performance. Consider key metrics like reach, engagement rate, follower growth, and click-through rates, all of which are good measures of how much your content is resonating with your audience. Most social tools typically have basic metrics built in, but platforms like Sprout Social, Agency Analytics, and Hootsuite offer a wider range of measurement tools, including dashboards and downloadable reports. If you’re doing extensive social posting and need to consistently monitor performance, it may be worthwhile to invest in one of these tools. As you push to improve your performance, make sure you’re testing images against video, different headlines and captions, and posting times throughout the day or week to see what works best for your audience. Then, apply those learnings moving forward for each campaign. Overcoming common social media challenges Many companies struggle to gain traction on social media, or expect instant success and are disappointed when they don’t see it. Here are some of the most common challenges with social media marketing, and how you can avoid them with your property management business: Inconsistent posting schedule: Posting inconsistently can lead to a disengaged audience, but it also hurts you in social media algorithms, which favor creators who post consistently. This is where your content calendar and scheduling tools can come in. Declining organic reach: Some companies see their post impressions decline over time, often because they’re only posting but not interacting. Make sure you’re interacting with your audience’s posts, either with likes and reactions or with comments, which will help algorithms rank your content more highly. Make sure you’re also posting content that encourages your audience to interact, rather than just looking or reading and scrolling on. Content saturation and competition: Some posters also find themselves running out of content ideas quickly. Remember that it’s about quality over quantity, and that you don’t always have to be posting as often as your competition. Focus on the consistency of your content, both in when you post and the quality of what you’re sharing. Negative feedback and reviews: Plenty of companies get dismayed by negative reviews or feedback on their pages. Make sure that you’re handling negative feedback calmly, quickly, and professionally, and that you’re actually making process changes to prevent similar reviews in the future. Lack of clarity: If you’re a property manager who isn’t as data-driven, this can be a challenge. Make sure you’re leveraging analytics to measure success and jumping on hot trends that you see across other pages. Like any other marketing channel, KPIs should be guiding your strategy. Build long-term value with Second Nature Remember, social media is a great way to show your personality, expertise, and what you’re doing to deliver the best possible experience for your residents. From lead generation to community engagement, social media is all about building trust in your brand, both as an individual and as a property management company. Things like reminders to change air filters, instructions on how to leverage benefits, and success stories of residents who have seen boosts to their credit scores are all content gold, made possible by programs like Second Nature’s Resident Benefits Package. If you want to learn more about how Second Nature delivers top-tier resident experiences, schedule a demo with an RBP expert in your area today.

Calendar icon August 12, 2025

Read more

Property Maintenance Guide for Property Managers

Property management maintenance is one of the most important parts of the resident experience. But property management maintenance software can help control costs and challenges. We've heard from hundreds of property managers that maintenance can be one of the most unpredictable parts of their job – and one of the biggest headaches for residents, property managers, and real estate investors. Triple headache! Of course, the unique frustrations and challenges of rental property maintenance also mean that an effective strategy can become one of the most outstanding differentiators for a property management company. So, how do leading PMCs take their routine maintenance practices to the next level? How can PMCs turn that triple headache into a triple win? Here's what we've learned from years of working with PMCs and delivering property maintenance services that support both the resident and the property owner. What is property maintenance? Property maintenance is everything involved in ensuring your properties are in excellent shape and any issues are repaired in a timely manner. Property managers take responsibility for maintenance in most cases, and their tasks include both preventive and preventive maintenance. Property maintenance may include: Resident maintenance requests Servicing and repairing HVAC systems Pest control Landscaping Painting and repairs Maintenance is critical to the resident experience, to keeping a property fully functional, and to ensuring safety and quality of life. Failure to follow through on regular inspections and maintenance can result in serious consequences. Property managers must balance their residents' needs and their investors' goals. For example, what if an investor isn't interested in putting a whole lot of maintenance or repairs into a specific property – but the resident wants a higher level of service? Another layer of complexity is the round-the-clock nature of maintenance tasks. You don't know when a roof will spring a leak, an HVAC system will go haywire, or a dishwasher will give up the ghost. Property managers have to juggle on-call hours, after-hours, increasing work orders, and emergencies all the time. Benefits and challenges of property management maintenance That's all easier said than done! Property management maintenance is uniquely challenging. It's unpredictable, almost always urgent, and involves several stakeholders and fluctuating pricing. Related: Best Property Management Maintenance Software Bottom line: How do you build solutions that support your team, the resident, and your investor? Let's look at both the benefits and challenges of property management maintenance. Benefits of property management maintenance: Extending the life of properties and equipment Reduced costs Ensuring resident health and safety Boosting the resident experience with high-quality homes Avoiding liabilities and accidents Increasing property value Happier tenants! Challenges of property management maintenance: Prioritizing reactive and preventive maintenance Increased expenses and maintenance costs Delegating tasks to your team Managing resident expectations After-hours and emergency work is 24/7 Balancing investor's goals and resident's needs Related: 10 Property Management Goals to Set for the Year (with examples) Examples of maintenance in property management Here are some top examples of property management maintenance company services for single-family homes. Spring property maintenance checklist: Check gutters and downspouts for blockages left over from the winter Check interior for any mold or mildew growth Start prepping landscaping for summer with new flowers or shrubs Summer property maintenance checklist: Clean window wells, gutters, and downspouts Find and fix any gaps in windows, doors, and walls (to keep out pests and ensure HVAC efficiency) Maintain yard and landscaping if that's within your responsibility Increase watering frequency Prune trees and any hazardous limbs Lawn care Check outdoor lighting Pressure wash and repair outdoor areas/decks Fall property maintenance checklist: Check the roof and exterior for leaks or repair needs Clean chimney for cold weather Clean gutters and downspouts again Prep landscaping for winter Remove dead leaves, branches, etc. Prep sprinkler system for winter Winter property maintenance checklist: Ensure roof is in good state for winter Check batteries in smoke and carbon monoxide detectors Ensure pipes, windows, and doors are insulated Cover and winterize outdoor areas, including pools and pipes What to look for in property maintenance workers? When property management companies consider hiring in-house maintenance workers or contracting with property maintenance services and technicians, there are several key qualifications and skills to look for. These not only ensure efficiency and quality in maintenance tasks but also contribute to the overall safety and longevity of the property. Here's a checklist of what to look for: Experience in managing repairs: Look for a proven track record in handling a variety of repair tasks. This includes the ability to diagnose issues quickly and provide effective, long-lasting solutions. HVAC systems expertise: Essential knowledge in maintaining and repairing HVAC systems is crucial, given their complexity and how important they are to resident comfort. Boiler maintenance skills: Expertise in maintaining and repairing boilers, especially in regions with colder climates where heating systems are in constant use. Installation abilities: Proficiency in installing various types of equipment—ranging from basic fixtures to complex machinery. Electrical and plumbing knowledge: A solid understanding of basic electrical and plumbing systems ensures that routine issues can be addressed promptly and safely. Certifications and training: Relevant certifications or completed training courses in property maintenance or specific systems (like HVAC or electrical work) add credibility and assure competence. Problem-solving skills: The ability to think on their feet and creatively solve unexpected problems that arise during maintenance work is key. Communication skills: Clear communication with property management team and tenants is essential, especially when coordinating repairs and addressing tenant concerns. Attention to safety: A strong focus on safety protocols to prevent accidents or property damage, including adherence to all relevant regulations and guidelines. Customer service orientation: Since maintenance technicians often interact directly with residents, a friendly demeanor and strong customer service skills are important for maintaining tenant satisfaction. By ensuring that your maintenance staff or contracted technicians meet these criteria, property management companies can maintain high standards in property upkeep, leading to satisfied tenants and well-maintained properties through the support of a qualified maintenance technician. What should an ideal property management maintenance solution have? We've spoken with leading property managers across the industry and collected some of their best tips for taking the puzzle of property maintenance and delivering next-level service and experiences. Here are three key steps they've shared for leveling up when it comes to property maintenance services. 1. The right team Getting the right “who” is critical before addressing the “how” in your day to day operations. We spoke to leading property management consultant Kevin Hommel about what he looks for in his property management team. He looks for people who are proactive, self-driven, and resilient in the face of complex problems. Maintenance is no exception. A self-driven team will always aim to be proactive rather than reactive. Hommel says: “I would rather find somebody who is going to come in and hustle – even if I have to teach them everything about property management – than find somebody who's a property management expert but has the wrong attitude. It's going to be a completely different experience.” The benefits of finding the right full-time or part-time team are twofold: First, you'll produce better work and better service. Second, a trustworthy team helps you focus on bigger strategic opportunities. As a property management business owner, you should be free to focus on 10X opportunities rather than get bogged down in day-to-day tasks. Peter Lohmann, Co-founder & CEO of RL Property Management, says it this way: “In property management, a lot of us are in the habit of wanting to know what's going on at all times – every rental application, every maintenance request, works orders, every disbursement amount. But I would challenge everyone to step back from that and ask yourself, ‘Why?' The need to ‘stay plugged in' is not going to help you unlock growth for your company. Time to work on 10x opportunities instead.” By hiring a team you can trust, you're setting your residents up for success. You know they'll be taken care of, and you can focus on higher goals to improve your resident experience overall. 2. A clear process for managing requests After setting up your team – and before we get to the tools you can use to support them – we need to talk about the process. Every property manager we've spoken to is bullish when it comes to getting your processes right. Lohmann again: “(It's important to) do things in a standard way throughout your business. The more exceptions and one-off arrangements you make with the property owner and tenants, the harder this becomes. Your priority should be to standardize all your contracts and operating procedures so you can innovate around a small number of core processes that apply to every unit you manage.” This is more than just having a maintenance checklist. The best way to build a process with preventive measures is to approach it from the lens of the resident experience. The most successful property managers set up maintenance processes by asking themselves what the resident wants and needs: What's the easiest way for a resident to report an issue? In what way do residents like to communicate with me or hear from me? How can I best keep residents informed? How can I bring speed and convenience to residents? Using an experience lens to build or update property maintenance processes can help you see new opportunities. 3. The right tools and technology Automation and AI are some of the newest ways to support your team and improve functionality. No-code tools and app integrations help connect workflow, client management, communication, and task tracking. No-code tools are products that enable those of us with no coding experience to build digital solutions for every part of our workflow. Property managers can use no-code tools to design their websites, build online content, create email campaigns, or set up automated task tracking, communication, and more. In terms of property maintenance, PMCs can now use accounting platforms with native portals for maintenance requests or adopt maintenance solutions platforms like Meld. These solutions offer customizable automation where you can track tasks, deadlines, time, vendors, costs, and employee responsibilities. With just a few clicks, automation helps cut out manual work like: Creating a New Property Checklist every time you add a new door Populating data fields in your CRM Assigning the correct tasks to the correct people Sending an email to a property investor with updated information Sending maintenance reminders Tracking safety checks and code enforcement Etc. Property management software and partner maintenance services can include features like: Tenant portals for maintenance requests and more 24/7 and after-hours call center services Accounting platforms Self-help video libraries and knowledge base platforms Technology ultimately brings greater speed, convenience, and ease to you and your residents. These features help streamline maintenance management for property managers and technicians. 4. A resident benefits package Whether you're already implementing automation or if that feels a long way off, we still haven't addressed one of the best tools for boosting resident experience: the Resident Benefits Package, or RBP. An RBP is considered by many property managers as the most powerful, profitable step to impact the resident experience. And it is the only one that generates revenue while also creating operational efficiency. RBPs provide tools like filter delivery service, identity protection, rewards programs, on-time rent incentives, credit building, move-in concierges, insurance, and more. Here's just one example: The National Rental Home Council (NRHC) surveyed 7,772 single-family residences over 18 months to analyze the frequency of resident HVAC service requests with and without HVAC filter delivery service. Second Nature delivered HVAC filters every 60 to 90 days in a date-stamped box with illustrated instructions and sent emails with tracking information and educational content before each delivery. Overall, there was a 38% reduction in HVAC-related ticket requests among the group that received filter delivery—a result achieved without creating any additional work for the property management company. Resident benefits packages help standardize benefits in a cost-effective way across all your properties. With an RBP, you know every resident is getting a level of service that feels high-touch but doesn't create any extra work for your team. RBPs strengthen communication, transparency, self-service, and speed – in other words, the resident experience and relationship. How to effectively manage a property maintenance team Managing a property maintenance team efficiently is key to ensuring your properties are well-cared for, and your residents remain satisfied. From scheduling tasks to fostering teamwork, every aspect plays a crucial role. In this section, we'll break down essential tips into actionable strategies to help you lead your maintenance team effectively. Establish clear communication channels Effective communication is the backbone of successful team management. Establishing clear channels for reporting issues, discussing solutions, and sharing feedback ensures everyone is on the same page. Use digital tools like email, messaging apps, or property management software to streamline communication. Implement a scheduling system A well-structured scheduling system is crucial for organizing maintenance tasks. Make sure your maintenance team uses digital calendars or maintenance management software to allocate tasks, set deadlines, and track progress. Ensure their schedules are flexible enough to accommodate emergency repairs while maintaining routine maintenance work. Prioritize tasks based on urgency and importance Not all maintenance tasks carry the same weight. Prioritize issues that directly impact resident safety and comfort, such as HVAC problems or plumbing leaks. Regular maintenance can be scheduled around these more urgent tasks to ensure efficiency without compromising on critical repairs. Use technology for efficiency Leverage technology to automate reminders, maintain records, and manage work orders. Property maintenance software can significantly reduce manual administrative work. Regularly evaluate performance Conduct regular assessments of your maintenance vendors. Use these evaluations to identify areas for improvement, acknowledge accomplishments, and set goals for future growth. Encourage feedback from residents Residents are often the first to notice maintenance issues. Encourage and facilitate easy ways for them to report problems. This feedback can be invaluable in identifying areas that need attention and enhancing resident satisfaction. Plan for preventive maintenance Instead of always being reactive, schedule regular preventive maintenance checks. This proactive approach can significantly reduce the frequency of emergency repairs and extend the life of property assets. Building in solutions like a Resident Benefits Package can bring residents on board with prevention strategies, too. Balance workload fairly Ensure that the workload is evenly distributed among team members if your team does the maintenance work. Overburdening certain individuals can lead to burnout and reduce the overall efficiency of the team. How does a Resident Benefits Package help reduce maintenance needs and costs? Managing single-family properties presents unique challenges, particularly due to the fact they're generally scattered-site management. This setup can make regular maintenance a logistical and financial burden for SFR property managers. But a well-structured, fully managed Resident Benefits Package (RBP) can make a huge difference in alleviating those challenges. At Second Nature, we built an RBP with integrated solutions that support and empower residents to take better care of the properties themselves. This helps reduce maintenance needs over time. Take air filter delivery: Simply subscribing to HVAC filter delivery can reduce HVAC ticket requests by 38% and save hundreds in energy bills. Another example is pest control. On-demand pest control can ensure residents deal with pest issues immediately. Instead of paying for expensive prevention, you can be sure actual issues are dealt with before they escalate. Or, consider resident rewards. With a built-in rewards program, property managers can customize the behaviors they want to encourage. Small preventive tasks or maintenance checks can be included in those incentives. Maintenance, tracking down vendors, invoicing work orders, etc., will always be a part of the property manager's life. But with an RBP, you can significantly cut down on the time and money you spend on a maintenance team. Why property maintenance can make or break your success as a PMC You've heard this from us before, and you're going to hear it again – it's all about the resident experience. Retention depends on it. Consumers today are looking for products that can offer them: Ease and convenience: Thanks to companies like Uber and Amazon, consumers are now used to having solutions at their fingertips – or the click of a button. Personalization: With our data everywhere, we've all become accustomed to brands that know us more intimately than ever before. Automation or speed to answer: Smart homes and connected devices can solve problems remotely and quickly. Even though PMs aren't robots, we see more PMs solving with digital solutions and proactive services like resident benefits packages that anticipate and deliver on residents' needs before they become problems. The modern resident has different expectations than the generation before. The “convenience economy” has come for us all. Residents don't just expect to have maintenance issues resolved. They expect management services to provide a certain level of ease, comfort, familiarity, and convenience. Of course, maintenance work has obvious urgency: Nobody wants to live with a clogged toilet, a leaky faucet, no hot water, backed-up gutters, etc. But emergency repairs are now the minimum that property managers provide. Property management maintenance is integral to the resident experience – and one of the primary ways to set your business apart. We're not just looking for “good enough” – we're looking to answer the question: “How do we create experiences so good that residents never want to leave?” Regarding rental property upkeep, delivering on that question will involve many factors: Safety first: Safety is the baseline for all properties. If residents don't feel safe, they are not likely to stay. Staying on top of carbon monoxide detectors, leaks, etc., is paramount. Timeliness: According to Ray Hespen, “the biggest leading indicator for resident satisfaction is speed.” Transparency: Whether through an online dashboard, text communication, or other tools, residents expect to know what's going on with their homes. Preventive maintenance: We have to go beyond reactive maintenance. Processes that prevent issues from occurring can save time and money and boost the resident experience. We'll talk about how resident benefits packages can deliver this for PMCs. First-time fixes: Nothing is more frustrating than getting something fixed only to realize the maintenance team didn't actually resolve the issue. Communication: Residents don't want to explain themselves or the problem several times to different parties like the property manager, the vendor, etc. Self-service: Many residents like the control and convenience of self-service options like air filter delivery or online payment portals. These are the characteristics we're seeing across some of the most successful property management companies – the PMCs standing out from the crowd. How to reduce property maintenance costs Maintenance costs can quickly spiral if not carefully managed, but with strategic planning and smart practices, you can significantly reduce these expenses without compromising on quality or resident satisfaction. Let's dig into a few practical tips that will guide you on how to efficiently lower your property maintenance costs, ensuring your operations remain both cost-effective and top-notch. Implement preventive maintenance Proactive maintenance can significantly reduce long-term costs. By implementing services that protect key elements like HVAC systems, plumbing, and electrical circuits, you can prevent minor issues from becoming major expenditures. Services like air filter delivery create excellent return on investment when it comes to prevention like this. Use energy-efficient solutions Invest in energy-efficient appliances, lighting, and HVAC systems. These not only reduce energy costs but also tend to have a longer lifespan and lower maintenance requirements. Consider LED lighting, energy star-rated appliances, and smart thermostats to boost efficiency and cut costs. Train staff on basic repairs Equip your team to handle basic repairs for commercial properties in-house if it makes sense for you in terms of time and cost. Training staff to fix common issues like minor leaks, electrical faults, or appliance glitches can save on expensive contractor fees. However, ensure more complex tasks are left to professionals. Negotiate contracts with vendors Establish long-term relationships with trusted vendors and negotiate contracts for regular maintenance services. Buying services in bulk or agreeing to long-term contracts can often result in significant discounts. Ensure these vendors are reliable and offer competitive rates for their services. Monitor and manage inventory efficiently Keep a close eye on your inventory of maintenance supplies if that's something your team manages. Bulk purchasing of frequently used items can save money, but be wary of overstocking, which can lead to waste. Use inventory management software to track usage and avoid unnecessary purchases. Optimize use of technology Leverage technology for maintenance management. Use property management software to track maintenance requests, schedule work orders, and monitor expenses. This can help in identifying patterns or areas where costs can be trimmed without compromising on service quality. Conduct regular financial audits Regularly review and audit your maintenance expenses. This practice can help you identify areas where you may be overspending, spot inefficiencies, and adjust your maintenance strategies accordingly to ensure cost-effectiveness. If you want to build a differentiated resident experience people pay for and stay for, learn more about our or subscribe to our podcast for regular insights from the PMC world.

Calendar icon August 7, 2025

Read more

Property manager talking on the phone

20 Ways to Get More Property Management Leads

It's no surprise that high interest rates over the last few years have created plenty of opportunities for property managers. With plenty of homeowners carrying mortgages at comparatively low rates, they're less likely to sell and are instead renting out their properties. There's a high demand for skilled property managers, and lots of opportunity to get more property management leads from those entering the rental market. And that's exactly what we're talking about in today's article: property management lead generation. We're exploring 20 effective strategies to tap into this market potential, from leveraging referrals and business networks to harnessing the power of digital marketing. 1. Referrals Referrals can be a great step for new businesses to generate leads . You can get referrals to new clients from friends and family, local business groups, realtors, and other clients. Leverage your existing network and ask for referrals. Satisfied clients and professional contacts can often provide recommendations to potential leads, which is why it's so important to keep a high level of client satisfaction. The happier an investor is, the more likely they'll be to recommend your services to other property owners they know. 2. LinkedIn Another great starting point for new business is to use LinkedIn to connect with potential clients, join industry groups, and share valuable content. It's a powerful platform for B2B lead generation. You can either sponsor posts and advertisements targeting people in your ideal client profile, or directly message individuals that you know are looking for property management services. Even more powerful, though, are LinkedIn's networking groups, where you can find and connect with property investors to generate property management leads . Just be cautious when joining groups, as they may each have their own unique rules that limit or prohibit self-promotion within the group. 3. Event marketing If you're looking to grow your door count, you should also consider attending industry events to network with potential property management clients. These can range from local real estate meetups to larger industry conferences. If you're willing to invest the funds, you can also look into hosting your own networking events for real estate investors. Make sure the events are accessible and informational, not just a sales pitch for your company. That way attendees feel like they're getting real value, while also building a positive association with your brand. 4. Cold calling While it may seem old-fashioned, cold calling can still be effective, especially if you're just getting started. The key is to ensure that you're targeting the right property owners and investors in your local market. Make the value of your offering clear and be prepared to get a lot of rejections, but know that even just signing a couple of new clients can make the time investment worth it. 5. Facebook Facebook, and other social media marketing, is effective for new and growing companies. Use targeted Facebook advertising or post in local groups to reach potential clients. Consider running ads targeting landlords or real estate investors. For growing companies, use advanced targeting options in Facebook Ads to reach a more curated audience. Consider retargeting ads, which can serve ads directly to people who have previously visited your website interacted with your content. Those users already know who you are and may have been interested in your services, so advertising to them tends to have a better ROI than serving ads to entirely new individuals. 6. Podcasts Yes, we know, it seems like everyone has a podcast these days. But the truth is, podcasts can work well as an early foray into property management marketing. Whether you run a company that's just getting started, or a growing company that has plateaued, a podcast can help get your name out there. The challenge with podcasts is that they do take some time to build momentum. You're not going to get thousands of listeners on your very first episode. If you're intimidated by trying to run your own, consider reaching out to existing podcasts (like our Triple Win Podcast) to ask about being a guest. That will help get you more accustomed to the process while also getting some eyes on your brand. You'll want to discuss relevant industry topics—not just pitch your business—to establish your expertise and reach a larger audience. 7. Local businesses & strategic partnerships When you’re just getting started, it’s a great idea to partner with local businesses that serve the same market. For example, a local moving company might recommend your services to property owners who are moving out, but putting their house up for rent. Similarly, local contractors, painters, plumbers, and other local vendors may have the inside scoop on self-managing landlords who are doing turnover maintenance or other upkeep on rental properties. You can also join local clubs and the Chamber of Commerce and attend meet-ups to build a network that refers high quality leads and clients. 8. Direct mailing New companies should also consider sending targeted direct mail campaigns to potential leads. This could include newsletters, postcards, or informational brochures about your services. The biggest benefit of direct mail is that you can be confident that it's reaching the right geographic areas. While Facebook or LinkedIn could end up serving up your ads to people too far away for you to effectively manage, physical mail gives you more control. 9. Niche forums Launching a new business requires support and community. Participate in online forums related to property management or real estate. Answering questions and sharing insights can help attract potential clients. 10. Read local listing reviews Looking for your first few clients? Monitor local listing reviews such as on Google and Yelp. People love to complain on the internet, and you may just find landlords who are having trouble with their current management company. This is an opportunity to tactfully reach out to better understand their challenges, and see if you may be able to help them by offering your services. 11. Browse newspaper ads Another great way to find those early clients is to look for rental listings or properties for sale. Reach out to the owners to offer your property management services. A surprising number of people still use newspaper classifies, but don't be afraid to look toward the modern equivalents, like Craigslist. Be diligent to avoid spam ads that may just be a waste of your time, but there can be some real diamonds in the rough if you're willing to do some digging. 12. Content marketing If you have a more established company in the property management industry and a bit more capacity to experiment, content marketing might be for you. Start by creating valuable content on your website and social media channels. The key is to make sure that your content is educational and entertaining, but not just a promotion of your services. Your readers and viewers need to feel like they're getting real value from your content, or they're not going to come back. You'll want to try a mix of content types, including blog posts, infographics, or eBooks that provide insights to property owners. A good example of content marketing for lead generation is Realty Medics. Another, run by our Triple Win Mentor Jennifer Ruelens, is Hold It with PM Jen, which is all about educating investors on how to be successful buying and holding rental properties. While we recommend looking at examples like these for inspiration, make sure that your content brings your own unique voice and perspective. 13. Google Ads (PPC) Pay-per-click (PPC) is the backbone of Google advertising. Whether you're well established or still new, you can build campaigns on Google to appear in search results for relevant keywords. For example, you can target "property managers in Cleveland" so that your ads appear for users searching that term. This can help attract landlords or property owners searching for management services. This is one of the best online marketing strategies, in part because of its flexibility. You can set firm budgets for how much you're willing to spend, and see an estimate of how many views your ad is likely to get for that price. You can also select related keywords to capture a wider range of searches and build visibility that way. 14. Search engine optimization (SEO) A great step for companies looking to keep growing is to optimize your website for SEO. SEO is a strategic approach to writing content with relevant keywords to rank higher in search results, increasing visibility and attracting organic traffic to support your portfolio growth . There are plenty of tools—both free and paid—to help optimize for search engines, and many small businesses also opt to hire SEO agencies to provide guidance on strategy and produce optimized content. 15. Email marketing Worried about your company's growth plateauing? Nurture your existing email list with regular newsletters or updates, providing valuable information and promoting your services to encourage conversions. Email marketing often works well in tandem with content marketing, because you can use your newsletter to promote the new content you're creating and drive more visitors to your site. Make sure your newsletter is relevant and informational. Focus on giving readers content that they want, rather than just using it to advertise your company. 16. YouTube (videos and ads) YouTube is an interesting hybrid of content marketing and social media marketing. Creating educational videos on property management topics can help build your brand, but also make sure to reply to comments and show appreciation for your followers in your videos. YouTube needs to be treated as a social media platform, not just a one-way street for your content. You can also advertise on relevant channels to reach a wider audience on YouTube. Because Google owns YouTube, many of their advertising features work similarly to Google PPC ads. You can target viewers based on channels that they follow, YouTube searches they've done, or previous Google search terms they've looked up. 17. Webinars If you have an audience established, ideally through other informational content and your newsletter, host a webinar on a relevant topic to provide value to your audience. Webinars are particularly good for lead generation because users typically have to provide contact information in order to register and can share their success stories . That means that, not only can a webinar help position your company as an industry expert, it can also provide a list of contacts that you can follow up with, either by phone or email. 18. TV ads Depending on your budget, consider TV advertisements. Although more costly, they can reach a wide audience and increase your brand visibility, while still being targeted to your geographic markets. These are ideal for large companies, but there are options available for smaller companies, too. Streaming platforms like Hulu offer advertisement spots, and because they're connected to the viewer's email address, you can often get more specific in your targeting, meaning you're not spending precious dollars advertising to contacts that aren't relevant to your business. 19. Billboard ads Like TV ads, billboard advertising can be pricey, but some property managers have seen success with it. Outdoor advertising, like billboards, can help increase local visibility for companies that already have an established reputation. It's well suited to companies targeting property owners in specific geographical areas, and is especially helpful if you're expanding your territory or opening an office in a new city. Because of the high price, getting the messaging and design right is a little bit higher stakes. Don't hesitate to consult a design agency if you don't have the necessary skillset in-house. 20. Pay-per-lead services There are websites and services specifically designed to provide qualified property management leads. One of the most popular is All Property Management, but a quick web search will reveal plenty of options. These services typically charge a flat rate per lead, and can provide a stream of potential clients who are actively seeking property management services. They provide the contact details and background information that you need to have a successful exploratory sales call. Final Thoughts For more insights about lead generation strategies, check out our Triple Win Podcast for residential property managers. Or, consider some of our other resources for growing your PMC: How to Create a Property Management Business Plan [Free Template] 15 Strategies to Grow Your Property Management Business Marketing Ideas for Property Management Companies FAQ What are the most effective ways to generate property management leads? Some of the top strategies include referrals, LinkedIn networking, event marketing, content marketing, SEO, and pay-per-lead services. The best approach usually combines multiple tactics to build a steady pipeline. How can referrals help grow my property management business? Referrals from satisfied clients, professional contacts, and local business partners are often warm leads that convert quickly. Maintaining high client satisfaction increases your chances of being recommended to other property owners. Is LinkedIn really useful for finding property management clients? Yes—LinkedIn is a strong B2B platform where you can connect with investors, join industry groups, share content, and run targeted ads. Many property managers use it to reach landlords and decision-makers directly. What role does event marketing play in lead generation? Attending or hosting events—such as real estate meetups or investor workshops—can help you build trust and credibility while connecting face-to-face with potential clients in your area. Should I invest in paid ads like Google Ads or Facebook Ads? Paid ads can work very well when targeted correctly. Google Ads capture people actively searching for services, while Facebook Ads can reach landlords and investors based on demographics, interests, and behavior. How can content marketing attract property owners? Publishing valuable blogs, videos, and resources positions you as an expert and draws in property owners looking for guidance. Educational content also supports SEO and email marketing campaigns. Are cold calling and direct mail still effective? Yes, especially for targeting specific neighborhoods or property owners. While they require persistence, they can yield high-value clients—particularly in local markets. What’s the benefit of using pay-per-lead services? Pay-per-lead platforms provide you with contact details for property owners actively looking for management services, allowing you to focus on closing deals rather than prospecting. How can SEO improve my property management lead generation? SEO helps your website rank higher in search results for relevant keywords. This drives consistent, organic traffic from property owners searching for management services in your area. Which strategies work best for new property management companies? For new businesses, focus on referrals, LinkedIn outreach, local partnerships, cold calling, and targeted direct mail. These methods are often cost-effective and can quickly build your first client base. How can online communities help property managers generate more leads? Joining and participating in online communities allows property managers to connect with landlords, investors, and industry peers. These spaces are ideal for sharing expertise, showcasing a strong website, and building relationships that can accelerate success in winning new clients. Why are client referrals still one of the most valuable lead sources? Client referrals often come from satisfied property owners who trust your services. They act as an amazing source of high-quality leads, typically converting faster than cold prospects. Encourage referrals through personal outreach, incentives, and visibility in LinkedIn groups where potential partners and clients gather. How can a monthly contract model help attract property owners? Offering a flexible monthly contract can make your services more appealing to property owners wary of long-term commitments. Combined with a strong website that highlights results, client testimonials, and connections through online communities, it can significantly boost lead generation.

Calendar icon August 6, 2025

Read more

How to Measure and Improve Resident Experience

We’ve long talked about the importance of the service economy, but recently we’ve seen more and more companies embracing the next evolution of business: the experience economy. Success is no longer about giving your customers quality service, but about providing them a memorable, top-tier experience. For property managers, that means embracing the resident experience as a comprehensive approach to managing. By providing a great resident experience, you not only set yourself apart from your competitors, but you also increase resident retention and business growth. In this article, we’ll walk through what resident experience is, how to measure it, and how to improve on resident experience metrics. What is resident experience? Resident experience is the way that a renter perceives and feels about their living situation. It goes beyond just the quality of the physical property they rent, and includes how well the property is maintained, the ease of moving in, paying rent and requesting maintenance, and every other touch point they have with their management company. More and more property management companies are beginning to emphasize the overall rental experience through amenities, digital tools, or add-on services that make life easier for their residents. Why is resident experience so important? Resident experience permeates every aspect of a renter’s living situation, so it’s essential to maintaining happy, engaged residents. The importance of resident experience is both cultural and financial, but there are four main areas where it has the biggest impact: Attracting new residents: Providing a standout resident experience is a great way to bring qualified new residents in the door quickly. By advertising your resident experience perks in your listings, you’ll stand out from the crowd. Plus, happy residents are more likely to leave positive reviews across sites like Google Business and Yelp, which can be an important factor in attracting applicants when you have vacancies. Retaining existing residents: A great resident experience can also help avoid vacancies in the first place, since happier residents are more likely to renew their leases. That means less vacancy time, lower marketing expenses, and more time for your team to focus on value-adding activities. Building resident investment: Residents who are enjoying their living experience also become more engaged, and have a larger emotional investment in their home. That can lead to lower delinquency rates, more cooperation when scheduling inspections, and an increased likelihood of reporting small maintenance issues before they escalate into big-ticket items. Increasing revenue: All of these factors directly drive improvements in your bottom line. When residents sign faster, stay longer, and pay on time, everyone wins. Beyond that, you can often add revenue via lease-enrolled services that provide a better living experience for your residents. How to measure resident experience: 7 metrics to track Resident experience can feel like a difficult thing to wrap your arms around. When it touches every interaction that your company has with a resident, it can seem intimidating to measure objectively. But, as the saying goes, what gets measured gets managed, so it’s essential to set resident experience metrics, measure them regularly, and consistently strive to improve them over time. 1. Resident satisfaction Resident satisfaction is, at its core, how happy a resident is with their experience renting from you. The most common way to measure this is through resident surveys. There are several common times that property managers try to survey residents, often when they’ve recently had an interaction and it’s top of mind. Here are some common examples: Just after move-in At move-out At lease renewal time After a maintenance issue is resolved After an inspection All of these offer great opportunities to get honest feedback about recent interactions with your company. 2. Resolution times One of the most effective ways to keep residents happy is by resolving any maintenance issues quickly and efficiently. Maintenance is one of the biggest disruptions that most residents face, and there’s an increased expectation that they’ll have access to a 24/7 maintenance line and an online portal or app to report issues. Most property accounting software tools can report out how long each maintenance request takes, from first report to resolution. Keep tabs on these numbers and look for ways to optimize your maintenance and reduce resolution times. 3. Resident community participation Depending on the nature of your portfolio, the resident community might be an important part of your business. For example, if you manage larger multi-family properties or a large number of scattered-site units in an HOA, neighborhood, or condominium building, you may hold regular community events. Make sure you’re keeping track of attendance at these events and looking for opportunities to increase participation. 4. Amenity usage Residents who take advantage of amenities are more likely to be engaged with their rental home and renew their lease. You should be measuring how often residents are using things like the pool and the gym, but make sure you’re not forgetting digital amenities, especially if you’re managing single-family homes. For example, you may be able to run reports to find out how many residents are using services like resident rewards or credit building, which offer great value to residents and can elevate their experience. 5. Digital platform usage By now, most modern property management companies have invested in digital property management tools, and nearly all of those tools include some kind of resident portal. Whether residents use them to pay rent, request maintenance, or connect with their neighbors, you should be tracking what percent of your residents are using them. Most property management tools will allow you to generate reports showing whether or not residents have activated their portals, and some can also show how often or how recently they’ve logged in. Engagement with digital tools is a great indicator of whether a resident has adapted to your management approach. 6. Renewal rate Ultimately, renewal rate is one of the most important measures of how happy your residents are. Unhappy residents move out, and happy residents renew (barring other life circumstances). If you’re not already tracking your renewal rate (and your average occupancy length), you absolutely should be. Retention has a massive impact on your business and should be a top priority for improvement. 7. Net promoter score (NPS) Similar to resident satisfaction, net promoter score, or NPS, measures how likely your residents are to recommend your company to a friend. It’s a common metric among service-based companies, and you’ve almost certainly seen a pop-up asking you to rate your own satisfaction on a one to ten scale. NPS is powerful because it doesn’t just give you an average satisfaction score; it categorizes customers as promoters, neutral, or detractors, giving you a more comprehensive picture of how satisfied they are. How can property managers enhance resident experience? Once you’ve put together a process for managing the resident experience, it’s time to focus on improving it. What changes can you make to move the needle and create a better experience for your residents? Let’s take a look at six different ways you can make life better for your residents, while also creating wins for your company and your investor clients. 1. Update your resident communication In a people-first business, communication is everything. During move-in and move-out, while scheduling an inspection, or while providing updates on an ongoing maintenance request, you should be providing clear, transparent updates so that your residents feel confident in what’s happening. Recently, more and more property management companies have adopted texting platforms and instant messaging tools so that they can have real-time conversations with residents without picking up the phone. That’s especially important with younger demographics who may prefer text-based communication. As AI agents get better and better, you might consider adding one to your technology stack in order to provide quick answers to simple questions from residents. 2. Make residents’ moves easier The move-in experience is one of the most critical moments in the resident lifecycle. Forward-thinking property managers are embracing technology to help, but it’s still not meeting resident expectations. In fact, in AppFolio’s 2025 Renter Preferences Report, they found that 60% of residents said that digital move-in services were important, but only 38% said that they had a digital tool available to them. Using a dedicated tool to help residents understand their lease obligations, connect with utility companies, and get situated in their new home can add a new level of experience and start off your relationship with residents on the right foot. 3. Provide residents with modern tech conveniences As digital native generations continue to flood the rental market, offering technology in your rentals is increasingly important. These high-tech amenities can set you apart and make life that extra bit more convenient for your residents. Here are some examples of technology that can move the needle: Smart home technology: From connected thermostats to bluetooth lights, there are plenty of low-cost, high-impact items you can add to your properties to add a level of convenience. Even small improvements like adding USB-C ports to power outlets in key locations can make residents feel like your properties are a step above. Advanced safety features: Residents are also increasingly expecting access to things like smart locks and internet-connected cameras. They provide peace of mind and a sense of security that residents will appreciate, and have the side benefit of making resolution easier if something does go wrong. Visitor management systems: Visitor management systems allow residents to grant access to guests without having to physically let them in. While these are more common in multi-family buildings, they’re useful for single-family homes, too. Smart locks with digital keys can let residents coordinate with guests, dog walkers, and housecleaners much more easily. 4. Provide residents with facilities and amenities they care about Modern amenities are increasingly popular, especially among younger residents. While multi-family managers may be envisioning huge capex items like pools and clubhouses, it doesn’t have to be so pricey. Instead, consider items like Group Rate Internet, which delivers a service that residents are already paying for, at a cheaper rate. These kinds of conveniences exceed resident expectations while delivering the benefits that they actually want. 5. Upgrade your property maintenance management We’ve already illustrated why maintenance is one of the most important areas of focus for most property managers. The reality is, a well-maintained, clean, safe property drives a positive resident experience in a way that poorly maintained homes simply can’t. Make sure to look closely at your maintenance processes to see where you can save time and improve satisfaction. There are several emerging AI tools that help predict and address maintenance issues. You can also drive a decrease in work orders with automated air filter delivery, which keeps HVAC systems healthier and decreases the need for maintenance. 6. Offer your residents additional benefits If you’re not currently offering a Resident Benefits Package, it might be time to consider it. By offering value-adding services to your residents, you can improve their experience and drive higher satisfaction. For example, you might consider adding: Credit building: By reporting on-time rent payments to credit bureaus, you can help boost your residents’ credit scores. In fact, according to the DC Housing Authority, residents who use credit reporting services see an average credit score increase of 29 points. Pest control: With on-demand pest control services, you can decrease the amount of time your team spends responding to pest calls, while also delivering faster, better service to residents. Resident rewards program: Resident rewards provides discounts, gift cards, and more to residents who pay on time. It’s a great way to elevate their experience with minimal financial investment. Renters insurance program: By integrating renters insurance compliance into your lease, you can ensure complete coverage for residents. Grow your PM business by improving resident experience In order to thrive as a modern property management company, you need to be laser-focused on delivering a quality resident experience. The best way to do that is by establishing clear measurements, then making business decisions designed to improve those metrics. If you’re looking for a simple way to improve resident experience without adding more work for your team, check out Second Nature’s Resident Benefits Package. Register now for our next RBP workshop to hear from real property managers about the impact the RBP has had on their business.

Calendar icon August 5, 2025

Read more

What to Know About Reusable Tenant Screening Reports

Choosing the right resident is one of the most important things you do as a property manager. Not only can it prevent future headaches, but it can impact length of stay, maintenance alerts, and more. At Second Nature, we’re all about making the resident experience as enjoyable as possible, which is why we recommend reusable tenant screening reports. Not only do consistent screening reports help you process applications more quickly, they also help residents save money and apply more quickly. The result is that you get more quality applications sooner, filling vacancies and reducing turn costs. In this article, we’ll walk through what reusable screening reports are, why they’re good for both residents and property managers, and how you can add them to your workflow to increase compliance and efficiency. What is a reusable tenant screening report? A reusable tenant screening report is a comprehensive screening report that applicants can submit to multiple landlords, eliminating the need for them to repeatedly go through the screening process every time they want to apply for a property. These reports are also sometimes called portable tenant screening reports (PTSRs) because applicants can carry them with them from one property to the next. These reports are created by consumer reporting agencies and are paid for by the applicant directly. They typically include information like a credit report, any eviction history, a criminal background check, and income verification. Once a resident obtains a PTSR, they’re typically valid for 30 days and can be submitted to property managers either directly or via a third-party platform. The best part is, there’s no expense to the property manager or property owner. Why they exist and where they’re gaining traction In today’s real estate landscape, especially in more competitive markets where rentals are in high demand, applicants are typically applying to multiple properties. The process is time-consuming and often expensive, leading applicants to seek out other options. Reusable reports reduce screening costs and time for residents, which can typically range from $15 to $40 per application. That adds up quickly, so it’s easy to see why reusable screening reports are rising in popularity. Components of a tenant screening report Depending on the consumer agency an applicant uses, the exact contents of the report can vary slightly. However, there are some main items that are consistent across almost all screening reports. What to expect in a typical resident screening report Credit report: The applicant’s credit report includes their credit score, any outstanding debts, bankruptcies, and payment history, which a property manager can use to assess financial responsibility. Many PMs look for scores above 650, but this can vary based on market and company policy. Rental history: This section lists all previous addresses, lease dates, reasons for leaving, and management references. This section often includes any eviction records or red flags reported by previous property managers. Criminal background check: Depending on local laws and the screening provider, this may include felony convictions, pending cases, or sex offender registry status. Always refer to your state and local laws to determine what will and won’t be included in a criminal background check. Income verification: This section confirms whether the resident earns enough to cover rent, using pay stubs, employment history, tax returns, or bank statements. Employment details: This portion of the report is intended to verify the applicant’s employment status, including their job title, length of employment, and employer contact information for direct verification. References: Personal and professional references help validate the applicant’s character and responsibility outside of documentation. Other relevant factors: Depending on the specific report, it may include details like pet ownership, smoking history, and other property-specific requirements. Why these components matter Each of these sections is important in helping you find the absolute best resident for your property. They provide a fuller picture of financial stability, reliability, and potential risk, empowering you to make more informed decisions and reduce future costs. Having a highly detailed process also leads to more consistent standards, allowing you to evaluate applicants fairly and maintain compliance with Fair Housing laws. How to avoid tenant screening fraud Some property managers may be hesitant to accept reusable screening reports due to concerns about fraud. They feel confident in their established screening process and don’t want to stray from it. While we’re all about consistent process, there are also plenty of ways to reduce the chance of fraud in portable screening reports. Use additional verification to protect your time and your portfolio Portable tenant screening reports can be helpful, but they’re not foolproof. In order to reduce risk, property managers should review every screening report carefully and look for red flags. Things like inconsistent dates, gaps in rental or employment history, or mismatched addresses can signal possible fraud. Best practices for spotting and avoiding fraud Manually review reports: Be sure to look carefully at employment history, rental timelines, and formatting for inconsistencies. Independently verify key data: Confirm income, employer details, and references directly where possible. Contact previous property managers: Reach out to previous property managers and ask about payment reliability, lease violations, and unit condition at move-out. Layer in other tools: In-person interviews or document requests can reveal red flags not shown on a PTSR. Don’t be afraid to ask for additional documentation if you feel that an applicant’s report isn’t trustworthy or comprehensive. Stay up to date: Tenant screening laws and tools are evolving. Attend webinars or join industry groups to keep your process compliant and effective. What states allow reusable tenant screening reports? Legislation around portable screening reports varies by state, but is continuously expanding. Several states now allow residents to submit reusable reports instead of paying new application fees for each property. Some states allow property managers to accept them, while others require acceptance and don’t allow PMs to charge additional screening fees. These laws aim to lower housing costs, reduce the financial burden of applying, leasing, and moving into a new home, and increase resident mobility. The lifespan of a reusable report may also differ by jurisdiction. Most states that accept these reports define the time limit for validity. Most commonly, reports are valid for 30, 60, or 90 days, but this varies by jurisdiction. As always, we recommend researching laws surrounding screening reports in your state, county, or city, and consulting an attorney if you’re not clear on the specific regulations. Compliance varies by state In most states, property managers must disclose their screening process upfront, including whether or not they accept PTSRs. Some states require written notice in listings, applications, or websites, and might specify the exact language that needs to be present. Another variation by state: in some areas, property managers may be allowed to request a certification that no material changes have occurred since the report was created. For example, they can request verification that the resident hasn’t been evicted, been charged with a crime, or filed for bankruptcy in the last 30, 60, or 90 days. Failure to comply with these rules can result in financial penalties and legal liability, so it’s always worth it to seek legal assistance from an attorney if you aren’t 100% confident in your compliance. Reusable reports don’t replace a fully managed screening system Keep in mind that reusable screening reports are just one tool in your belt. They shouldn’t be the only way that you’re evaluating applicants or making leasing decisions. You still need visibility, protection, and consistency Portable reports offer a lot of convenience, but that comes with tradeoffs. Reports pulled days or weeks earlier may miss new credit or legal issues, so it’s important to request updated documentation for older reports. Because portable reports are based on resident-supplied data, they may lack verification or completeness, especially for income and employment history. Some reports may not be as comprehensive in some areas, like rental history, or might only provide surface-level employment info. Without built-in verification tools, property managers may be left tracking down references manually, adding costly time to their process. Disconnected tools create more work and more risk Portable reports also don’t integrate as well with your lease, payment, or maintenance systems, meaning that you may have to copy or retype information between different platforms. That increases the potential for errors and creates large inefficiencies. It also makes it difficult to track patterns between screening data and later resident behavior, which can make it more challenging to update and improve your screening process. A fully managed system keeps everything connected If you’re looking to up your screening game without creating chaos in your tech stack, look for tools that are fully integrated. You’ll create less back-and-forth, more reliable data, and stronger resident outcomes. Look for solutions that include verified screening, but also consider additional features that will attract high-quality applicants, like credit building and identity protection services. Simplify leasing, but don’t sacrifice oversight In order to help you be successful in today’s market, modern property management tools must support both compliance and the resident experience. Building smarter workflows is great, but they should ultimately drive better outcomes for both your team and your residents. Portable screening reports should always be considered in this context. They’re great for reducing friction and resident expenses during the leasing process, but they don’t always provide the full picture. Leading property managers pair these reusable reports with a fully managed system to deliver consistency, efficiency, and long-term resident satisfaction. Ready to create your Triple Win? If you’re looking to drive resident satisfaction and attract more qualified applicants, look to Second Nature’s Resident Benefits Package. With a full suite of benefits designed to create triple win outcomes for you, your investors, and your residents, the RBP is the perfect tool to elevate your property management company. Request a demo with an expert in your area today.

Calendar icon July 31, 2025

Read more

Notice of Non-Renewal of Lease: A Guide for Landlords and Property Managers

Real estate investors and property managers often need to issue a notice of non-renewal of lease when deciding not to extend a rental agreement. When the choice is not to extend a lease, issuing a precise and legally compliant notice is essential. This formal communication allows residents to know that their lease will end on a specified date, helping prevent misunderstandings and disputes. Proper timing and content of a non-renewal notice play a key role in complying with state laws, maintaining positive resident relations, and preparing for a smooth transition between occupants. In this guide, we’ll explain when and how to issue a notice of non-renewal, what details it should contain, common mistakes to avoid, and how it fits into broader property management goals. What is a notice of non-renewal of lease? A notice of non-renewal of lease is a written document sent by the landlord or property manager to the resident informing them that their current lease agreement will not be extended beyond the expiration date. Unlike a notice to vacate or eviction notice, which often requires residents to leave immediately or due to breach of lease, a non-renewal notice simply communicates that the lease will end on a scheduled date. This notice serves as a formal heads-up to residents, giving them time to plan their move and find new housing. It also protects investors by clearly documenting the decision not to renew, reducing the risk of misunderstandings or legal conflicts. When and why to issue a notice of non-renewal Investors and property managers may decide not to renew a lease for a variety of reasons. Some of the most common situations include: The owner plans to sell the property or undertake major renovations that require the unit to be vacant. The resident has repeatedly violated lease terms, possibly via non-payment, property damage, or nuisance complaints. Market conditions have changed, allowing the investor to raise rent significantly by bringing in a new resident under a fresh lease. The owner intends to change the use of the property, such as converting it to a different type of rental or repurposing the space. The resident has indicated they do not wish to renew, and the investor or property manager is formally confirming this decision in writing. Issuing the notice well in advance of the lease expiration date is an important part of the process. Providing residents sufficient time to make alternative housing arrangements helps maintain good relations and reduces last-minute complications. Legal requirements and notice periods Many lease agreements include a specific notice period that property managers must respect. Even when not specified, state or local laws often require a minimum notification time frame. Notice periods for lease non-renewal vary depending on state and sometimes even city regulations. Typically, landlords are required to provide residents with notice between 30 and 90 days before the lease expires. Failing to provide proper notice can lead to legal complications, including challenges from residents or delays in regaining possession of the rental unit. Carefully review both the local landlord-tenant laws and the terms outlined in the lease agreement to understand your obligations. To avoid legal risks, we always recommend consulting with legal counsel or local housing authorities. They can provide guidance specific to your jurisdiction and help confirm that your notice of non-renewal fully complies with all applicable rules. What to include in a notice of non-renewal To establish clarity and professionalism, your notice of non-renewal should include the following elements: Resident’s full name and current address: This ensures the notice is specifically directed to the correct resident. Property address, if different from the resident’s mailing address: Including the rental unit’s address avoids any confusion, especially if the resident has multiple residences. A statement that the lease will not be renewed past its current expiration date: The statement must explicitly inform the resident that the lease agreement will end on the specified date. The exact date when the lease ends and the resident is expected to vacate the property: Providing a precise move-out deadline helps set direct expectations. Any instructions regarding the move-out process: These may include details about returning keys, scheduling a final inspection or move-out walk-through, and cleaning requirements. Information about the security deposit return: Outline how and when the resident can expect their deposit back, including any deductions or inspection timelines. Contact information for questions or further communication: Providing a phone number or email helps residents reach out if they need assistance or clarification. Including all these details helps avoid misunderstandings and makes the transition more efficient for both property managers and residents. Open and straightforward communication upfront reduces potential issues and supports a professional relationship. How do I write a notice of non-renewal of lease? Crafting a legally enforceable notice of non-renewal of lease involves more than a template. Again, you should always consult with a local attorney to ensure you’re meeting the requirements set in your jurisdiction, but here’s what your notice should typically include to avoid disputes, and streamline the resident offboarding process: Legal identification of the resident and property List the resident’s full legal name and the exact rental address. If the mailing address differs from the property, include both. Unambiguous non-renewal language State explicitly that the lease will not be renewed beyond the current expiration date. Avoid vague phrasing like “we may not renew”— clarity is critical. Precise lease termination date Specify the date the resident is expected to vacate. This should match the lease end date and fall outside the required notice window (typically 30–90 days in most jurisdictions). Move-out protocols and resident responsibilities Provide expectations around final inspections, key return, cleaning standards, and any outstanding obligations. Security deposit procedures Reference the deposit return timeline, inspection process, and criteria for potential deductions—aligned with state law. Contact for questions or clarifications List a dedicated phone number or email to reduce ambiguity and prevent back-and-forth. Compliance with jurisdictional notice periods Verify and follow your state’s mandatory notice timeframe. Legally valid delivery method with proof Use certified mail, personal service with signed acknowledgment, or another delivery method recognized under your local landlord-tenant code. Document everything Keep a dated copy of the notice, proof of delivery, and any follow-up communications. In the event of a legal challenge, documentation is your best defense. A well-written non-renewal notice protects against lease disputes, ensures timely turnover, and keeps your property’s rent-ready schedule on track. Best practices for delivery and documentation The method you use to deliver a notice of non-renewal can affect its legal validity. Consider these common delivery options: Certified mail with a return receipt requested, which provides proof that the resident received the notice. Personal hand delivery with a signed acknowledgment to confirm the resident physically received the notice. Email delivery, if permitted by the lease and state law, though this method is generally less secure and may not be legally sufficient in all areas. No matter which method you choose, keeping detailed records can be helpful if any disputes arrive. These records should include: Date and method of delivery Copies of the notice sent Any follow-up communications with the resident Maintaining professionalism helps preserve positive resident relations, even when delivering difficult news. For example, consider also writing a move-out letter to confirm key dates and information while thanking the resident for their time at your property. Common mistakes to avoid Issuing a notice of non-renewal requires attention to detail to avoid legal complications or resident misunderstandings. Here are some frequent errors landlords and property managers should avoid: Missing or misunderstanding the required notice period: Failing to give residents the full legally mandated or contractually agreed-upon time can lead to delays in regaining possession. Always double-check state laws and your lease terms. Using vague or confusing language: The notice should directly state that the lease will not be renewed, specify the lease end date, and outline what the resident needs to do next. Ambiguity can cause unnecessary confusion and tension. Failing to document delivery and receipt: Without proof that the resident received the notice, enforcing the non-renewal may become challenging. Make sure to keep records of how and when you sent the notice and any resident acknowledgments. Not providing contact information for resident questions: Including a phone number or email allows residents to seek clarification, which can prevent misunderstandings and build goodwill. Ignoring reasonable resident requests: Sometimes residents may ask for clarification or a brief extension. While you are not required to agree, responding promptly and fairly can help maintain a professional relationship and avoid escalation. Avoiding these pitfalls creates a better transition at lease end and reduces the risk of costly issues or unintended vacancies. Proper documentation protects both landlords and residents. Simplify resident communications with Second Nature Properly issuing a notice of non-renewal of lease is an important part of successful property management. It helps maintain legal compliance, reduces misunderstandings, and prepares both landlords and residents for a trouble-free transition. If you want to simplify lease communications and streamline resident touchpoints, consider how Second Nature’s platform can help. Our Resident Benefits Package is designed to simplify these tasks and enhance the resident experience with tools designed to improve communication and make lease management easier for property teams. Request a free demo today to discover how Second Nature can streamline your lease management and support your property operations. FAQ Can a landlord choose not to renew a lease? Yes. An investor or property manager can choose not to renew a lease, as long as they comply with the notice period and local landlord-tenant laws. This decision must be communicated in writing through a formal notice of non-renewal of lease and delivered before the lease expires. Is a notice of non-renewal of lease the same as an eviction notice? No. A notice of non-renewal of lease simply informs the resident that their lease will end on a specific date. It does not accuse the resident of wrongdoing or require immediate removal like an eviction notice does. How much notice does a landlord have to give if they’re not renewing a lease? Notice periods vary by state, but most require between 30 and 90 days before the lease end date. Check both your lease agreement and local laws to determine the exact timeframe for delivering a lease non-renewal notice. Does a notice of non-renewal have to be in writing? Yes. A written notice of non-renewal of lease is required in nearly all jurisdictions. It protects both parties and serves as legal documentation in case of disputes. What happens if a landlord doesn’t send a notice of non-renewal? If no notice is given, the lease may automatically convert to a month-to-month tenancy, or the property owner may lose the right to terminate the lease on the intended date. This could delay turnover and complicate plans to raise rent, sell, or renovate.

Calendar icon July 29, 2025

Read more

Best property management associations to join

The 4 Best Property Management Associations to Join

Property management associations are membership-based organizations that provide opportunities for networking, education, and advocacy for property management professionals. There are many advantages to being a member of one. The business and personal development opportunities available through the many conferences and educational opportunities present great avenues to grow and optimize your property management business. Many of these associations blend in-person networking with online communities, and some even offer professional certifications that can help you prove your expertise to new clients. Different property management associations have stronger presences in different geographic areas, while others tend to cater to specific portfolio types. Which one is the right fit for you will depend on your particular market, personality, and business, so take a look and see what piques your interest. Here are four property management associations we recommend looking into. NARPM: National Association of Residential Property Managers The National Association of Residential Property Managers (NARPM) is the single-family rental industry’s leading association. It’s a national organization dedicated to the SFR industry with countless regional chapters and over 6,000 individual members. NARPM was founded in 1988, and has a rich history in the industry. NARPM bills itself as the only national organization exclusively focused on residential property management, and they require all members to be actively engaged in property management and fully licensed (in states that are necessary). They also require an ethics course for all new members, reflecting their commitment to bettering the practice of property management as a whole. NARPM’s National Conference and Expo every October is the largest event and trade show in the SFR industry, and the Broker/Owner Conference and Expo each March provides additional opportunity to learn and grown your business. The association also hosts countless other regional and local events and trade shows that serve as networking opportunities and increase chapter engagement. If your region has a local NARPM chapter, joining can be one of the easiest ways to further yourself and your property management business. You can search for your local chapter right on NARPM's website, or join as an at-large member if you don't have a chapter close by. National Rental Home Council The National Rental Home Council (NRHC) is a national trade association specifically for single-family rental property managers. It's a newer association, but it's one of the few aimed at the single-family industry. The NRHC's goal is to strengthen the rental market by helping property managers provide high-quality homes to residents while educating the public on the societal benefits of a strong SFR market. They aim to provide advocacy and strengthen the availability of single-family rental homes, while helping members navigate changes in the landscape. This is partly driven by first-party research reports that the NRHC publishes multiple times per year. Much like NARPM, NRHC has numerous local chapters as well as an at-large membership option, with both basic and premium membership levels. The council hosts several events annually, including an Industry Leaders conference in Washington, D.C. NRHC is open to owner-operators, builders, vendors, and service providers, so long as they work in the single-family market. Information Management Network Information Management Network, more commonly known just by the acronym IMN, is not technically an association, as it does not offer membership. Instead, IMN hosts a wide variety of networking events all across the U.S. and Canada for both single-family and multifamily property managers. Now part of Informa's Real Estate division, IMN hosts real estate events both in and out of the property management industry. It's single-family forum will be in its 13th year in 2025, hosted in Scottsdale in December. IMN has over 30 years of experience organizing rental and real estate conferences across the country and now hosts over 60 events annually. National Apartment Association If you’re in multifamily property management, the National Apartment Association (NAA) is an advocacy and trade association with excellent member benefits including exclusive training courses, access to legal assistance programs, and member-only content, including a dedicated magazine. NAA is focused on improving the property management industry through legislative advocacy, professional development, and fair housing and compliance resources. Much like NARPM and NRHC, the National Apartment Association operates primarily through local affiliate associations. NAA also hosts a number of events and trade shows throughout the year. These events focus primarily on advocacy and regulatory work for multifamily managers, but include valuable learning and networking sessions for other professionals in the apartment space. NAA's national trade show, Apartmentalize, is one of the premier industry events each year. Final thoughts Whether you're in single-family, multi-family, or a mix of both, there's definitely an industry association that can help you build your business and continue your professional development. We recommend starting with the list we've provided here, but feel free to do some research and find an association that works for you, even if we didn't mention it. If you're looking for an opportunity to network with peers and learn from other professional property managers, consider joining the Triple Win Property Managers group on Facebook.

Calendar icon July 28, 2025

Read more

How to Do a Property Management Market Analysis (And Why It Matters)

Whether you’re just starting to grow your property management business or you’re well established as a leader in your market, it’s important to understand where you measure up in comparison to other PMCs in your area. Knowing the competition will help you better understand where you need to improve, what your differentiators are, and how you can win more business and delight more residents. That’s where a property management market analysis comes in. In this post, we’ll cover what a market analysis is, why it’s so important for property management leaders, and how to conduct an analysis of your local market. What is a property management market analysis? A market analysis is a comprehensive look at the many factors that play into your property management strategy and how they compare to the other companies in your market. A market analysis is materially different from a rental comp analysis or a general real estate market forecast. Unlike a real estate forecast, this analysis is specific to the day-to-day operations of your business and how you approach property management. Rather than focusing primarily on pricing, you’re also looking at service offerings, marketing, branding, and more. Your market analysis will definitely help you evaluate rental rates, but it will also help you make better decisions about your complete service package, spot risk, and differentiate your business. Why market analysis matters for property managers A well-conducted market analysis is invaluable to your business. At the end of the day, it helps you avoid guesswork and make data-backed decisions. Let’s look at some of the biggest benefits of a detailed analysis: Support planning and feasibility decisions The market data gained from your analysis will help you evaluate future business opportunities, like expansion into a new location, new service offerings, or even the prospect of acquiring other businesses nearby. It also helps you better plan for investments in property upgrades, staffing, or tech, and reduce the risk associated with those expenses. Understand what renters and owners want Your research will also help uncover local expectations among renters around amenities, service responsiveness, and pricing. There are plenty of research firms looking at these trends nationwide, but because every market is different, it’s important to also look at your local area. You should be analyzing demographic information like age, income, and household size to better tailor your offerings. A married couple with two kids is going to have very different needs and expectations than a group of college students, for example. Identify hot or emerging markets Part of your analysis should also include looking for areas of change. Population growth, job creation, and new housing developments will often indicate areas with changing demand. That will allow you to enter underserved areas before they become saturated by your competitors. It’s a great way to gain a strategic advantage when you’re either expanding your company or shifting focus. Strengthen your position as a trusted advisor Market insights also help you give your investors clear, data-backed recommendations. You’ll be better equipped to answer tough questions about pricing, upgrades, and property positioning using the information you’ve gathered through your market research. Plus, if you’re working to attract investors who are currently self-managing, your analysis can help prove out the value of hiring a good property manager—and why your competitors fall short. Navigate changing conditions with confidence Real estate markets are always in motion, so your strategy should be, too. Ongoing research and analysis can help you pivot when market dynamics shift, especially when you see changes in demand and vacancy rates. What to include in a property management market analysis A useful market analysis goes beyond just looking at rent prices. If you want to gain true insight into your market, here are some additional pieces of information you need to be digging into: Demographic data Things like age and income, along with a breakdown of what percent of people rent vs. own in your target neighborhoods will help you better evaluate the opportunities in front of you. You can use publicly available tools like the U.S. Census and data from your local chamber of commerce to understand many of these dynamics. Rental market trends You should always be evaluating median rent prices and vacancy rates in your area, but you should also be looking at increases in rent over time, as well as the overall growth in number of renters locally. These factors all contribute to whether it’s a renter-friendly or owner-friendly market, which will help you determine rent prices, marketing investments, and more. Property types and volume Make sure to look at what types of properties dominate your market. Is it primarily single family homes, small multifamily, or apartment complexes? Maybe it’s a mix of all three. What’s the average square footage of available rental properties? How many bedrooms and bathrooms do they have? Competitor landscape One of the most important parts of your analysis will be examining your competitor landscape. How do you stack up compared to other property managers in your area? Start by researching who those other companies are, as well as what they include in their service packages, especially if they have multiple tiers or optional add-on services. See what you can find on their pricing, as well as their core value proposition and pitch messaging. Service demand gaps Part of the competitor analysis is also to determine whether there are gaps that no one in your market is currently serving. For example, there may be demand for high-end properties, more pet-friendly units, or even short-term rentals that’s currently going unmet. Property-level details Make sure that you have a comprehensive understanding of the amenities and services available around your properties. You should understand local transportation options, walkability, school quality, and more, which all impact resident satisfaction and shape how your properties stack up against others. How to do a local property management market analysis When you approach a market analysis, you have to analyze the data you uncover through the lens of your business goals. Determine what it is that you’re trying to achieve, and then make sure you’re getting the information you need to inform that goal. Here are some steps to building an effective market analysis: Choose your geographic area Of course, you want to start with your existing coverage area, but you should also analyze areas that you’re looking to grow into. Start with neighborhoods you currently serve, but make sure to research expansion opportunities thoroughly in order to inform your growth strategy. Choose your approach: demand-based vs. supply-based A demand-based analysis focuses on resident expectations, like amenities, pricing, and location. You’re basically looking at what the customers in your market demand. A supply-based analysis consists of looking at other properties or management companies in your area and how they’re positioned. You’re looking at what’s currently being supplied in your area. Running both types of analysis can be extremely valuable because it shows you very clearly where the current players in the market are failing to meet expectations, and what gaps you might want to fill with your company. It provides a clearer picture of where your offering stands in comparison, and where you should focus on improving. Pull demographic and economic data When it’s time to start compiling data, it’s helpful to start with data that’s already publicly available. For example, Census Reporter contains a wealth of demographic data, and tools like Rentometer offer great local rent data. Depending on your market, there are likely other local financial reports available, either from your city or county government, local nonprofits, or even for-profit research firms. Analyze your competition Competitor data can take a bit more digging. Start by looking at their company websites, but also search for their listings on popular listing services like Zillow. Make note of their branding and language, what services they offer, and what fees they’re charging. You should also record what kind of marketing you see from them, especially whether they’re purchasing Google Ads, social media sponsored posts, or even ads in the local paper. Survey or interview owners (if possible) You should also be leveraging your own network of owners to gain additional insights. Consider sending short surveys to your investor clients to learn what they want most from a property manager. If you record your investor calls with a tool like Gong, you can also search transcripts or recordings of previous calls to gain insights into what they’re looking for. Assess the regulatory environment Local laws and regulations directly affect your ability to operate and grow. That makes this a critical step for every market analysis, especially if you’re looking to expand. Broadening your service area to a new city or county often comes with a whole new set of regulations, so make sure you fully understand what you’re signing up for before jumping in. Use online reviews and listing platforms Online review sites and listing platforms can provide plenty of insight, not just into how your competitors are performing, but also what renters in your area are looking for. Look at the most common complaints or points of praise and make sure that your business is excelling in those areas. Google, Yelp, and Facebook may seem like the most obvious places to look, but don’t forget about forum sites like Reddit. Sites like Apartments.com, Redfin, and Zillow also reveal how properties are being marketed, what features are being emphasized, and what prices other property managers are asking. How to do a rent comparison A rent comparison helps you understand what local renters are paying and what they expect for that price. Many businesses run comps every 30-90 days in order to make sure their properties are priced competitively but fairly. Gather average rent data for comparable properties in your area Start by determining how wide you want your analysis to be. You’ll typically want to focus on properties that are similar in size, condition, and amenities in order to get the most accurate picture. Check listings across the major trusted listing sites, but also check local classifieds. Look beyond base rent Rent isn’t the only expense that residents pay each month, so it shouldn’t be the only piece of your price analysis. Make sure that you’re digging into factors like utilities (and whether or not they’re included), parking, pet fees (one-time or monthly), and amenity access when comparing rent prices. Look for other lease-enrolled services like Resident Benefits Packages, too. These added costs can influence how residents perceive overall affordability and what they’re willing to pay for base rent. Consider seasonal variations It’s important to run rental comps frequently because of seasonal fluctuation. Depending on your market, you may see larger or smaller seasonality. For example, if you’re in an area with a lot of students, demand is going to be higher in August and September than in April or May. Other factors are more consistent across geographies, like a decrease in demand around the December holidays. Make sure that you’re adjusting your pricing to match peak vs. off-season demand. Account for property improvements Make sure that you’re considering the property’s current condition when evaluating pricing. If you’ve renovated or upgraded things like appliances, flooring, or amenities, make sure you’re factoring that in. Even small things like higher quality finishes can justify premium rent prices and attract more qualified residents who are willing to pay a bit more. Stay flexible and responsive Remember, the market changes constantly, and so should your pricing. Revisit comps regularly and be open to adjustments, even if it means decreasing prices. Demand, competition, and resident feedback are just a few of the factors you should be keeping tabs on. Use rent comparison tools wisely Tools like Rentometer can offer valuable insights into prices, but remember that they’re only one piece of the puzzle. Be sure to pair them with real-time feedback from showings and applications to fine-tune your pricing strategy. Turn insights into action: What to do with your analysis Raw information is all well and good, but you need to be deliberate about how you turn it into an actionable business strategy. Adjust your pricing and services Compare your rental rates to local averages, factoring in amenities, property condition, and service quality. Make sure that you’re using rent comparison data to identify opportunities to raise rates responsibly. When you list your properties, make sure to highlight premium offerings like Resident Benefit Packages or renters insurance, which can improve resident satisfaction and justify higher rent. Remember, the goal is to remain competitive but fair, and make sure you’re doing your fiduciary duty to your clients. Improve your marketing messaging The insights you gather should all inform how you present your company to the market. Tailor listings, website copy, and outreach to reflect what local renters care about most, and emphasize features your analysis shows are in high demand—like location, pet policies, or energy efficiency. When pitching yourself to prospective clients, position your services clearly against the competition. Don’t be afraid to brag a bit if you have stronger owner reporting or better resident perks. Explore underserved niches Demographic and demand data can help you spot market gaps between what residents want and what you and your competitors are delivering today. Look for emerging neighborhoods or underrepresented segments, especially those with a growing population of renters, to capture growth before your competitors. Benchmark against similar companies Be sure to look at yourself in comparison to other PMCs serving the same areas that you are. Compare occupancy rates, pricing, and resident retention rates to see where you stack up and how you can improve. This can also help inform your service offerings, staffing priorities, and pricing. Create better owner reports that drive decisions All of this data is music to your investors’ ears. Tailor your owner reports to the needs of your different investor personas, like growth-focused investors, passive landlords, or institutional clients. Be sure to focus on the metrics that matter most, like vacancy rates, rent collection, maintenance turnaround times, and retention rates. How Resident Benefit Packages give you a competitive edge Once you have a more comprehensive understanding of your market, you can start to use value-added offerings like air filter delivery, credit reporting, and pest services to stand out. These can help improve resident satisfaction and retention while also decreasing the workload on your team. For example, according to AppFolio’s 2025 Renter Preferences Report, 71% of surveyed renters said that lease-attached resident services would be important to them when evaluating a new rental home, but only 42% reported having those services available to them. That’s a big opportunity to fill the gap and set your company apart. If you want to see how a Resident Benefits Package can help you support next-level service, schedule a call with a local expert today.

Calendar icon July 24, 2025

Read more

Why Vendor Relationships are the Key to Efficient Turns

We all know that turns can be one of the most expensive parts of property management. But what I don’t see talked about very often is what a vital role your vendors play in minimizing the time and expenses of turns. I like to challenge the way that property management companies look at hiring vendors. Vendors bring a tremendous value to your company if you build the right relationships with them. In this article, I’ll outline why vendors are a key part of your team, how to build stronger relationships with them, and how communicating turns to your vendors proactively can save you money, time, and relationships. Your vendors are your team Property managers tend to see vendors as a necessary tool in their belts, but in reality vendors are as critical to our team as any employee; and should be approached with the same mentality. When they’re doing work for you, they’re functionally an extension of your team. The quality of their work reflects on your company, not theirs, so it is imperative that you set them up for success just like you would an employee. This all starts with vendor selection. When you hire a vendor, you should be vetting them just like an employee. Ask yourself: Are they qualified? Do they have the necessary relationship skills to work with you? Do they understand the expectations you set for your company? When you start to think of vendors as part of your company, you quickly realize that it’s not the vendor’s responsibility to turn a property sufficiently, it’s the management company’s. If the vendor falls short, it's not fair to shift the blame. Just as you wouldn’t call out an employee to a client, you shouldn’t throw a vendor under the bus. If the work wasn’t up to standard, that’s still on us as we made the decision to hire them. Building strong vendor relationships Shifting your thinking about vendors can also help you start to build important relationships with them. Vendors don’t want to feel like they’re being hired for one job and then discarded. Not only do they want to feel valued, but they also want recurring work. In most situations, vendors value relationships with property management companies because of the consistency of work, especially in competitive markets. It means they’re getting more business on a regular basis. I know of some maintenance companies who really only took off because of the relationships they built with property managers and the steady stream of work that came from those partnerships. As you build better relationships with vendors, you can become a preferred client, making it easier to bring vendors in for unexpected maintenance items or shorter turn times. You may also get favorable pricing or payment terms, which can add up in the long run. Creating a vendor handbook The other huge advantage of building vendor relationships and sticking with the same teams is that they start to learn how your company works and, importantly, what your expectations of them are. I’m a big advocate of using a vendor handbook, just like you would have an owner handbook or an employee handbook. It helps establish expectations for the relationship upfront, and sets the tone for how you’re going to work together moving forward. It also makes the vendor feel more comfortable and get to know your company, policies, and standards. Here’s some of what I recommend including in a vendor handbook and the questions they should answer: A company description: Who are you? What geography and unit types do you serve? Key contacts and company structure: Who will be their main point of contact? Who should they go to with questions during the work day or after hours? Mission, vision, and values: What are the company’s values? How should they be emulating those values when they’re working at one of your properties? Expectations: When the vendor walks into one of your properties, what’s expected of them? What condition are they leaving it in? How are they getting access and locking up? Vendor portal instructions: What do you use a portal for and where can they find it? Include a QR code with a link and an image that shows what it looks like. Vendor questionnaire: What information do you need from the vendor that you might not already have? By giving your vendors the same clarity and structure you offer residents and owners, you’re setting everyone up for success. A well-designed vendor handbook not only prevents confusion but also fosters accountability and builds a stronger, more professional partnership. Getting ahead of turns I’m a strong believer in using task management software. At PM PathBuilders, it's one of the most impactful tools we help companies implement. They’re tremendously helpful in helping your team be more proactive about things like vacancies. But automation alone isn’t enough. If your workflow only kicks in 30 days before a move-out, you’re already behind. There’s a lot more you can be doing outside of an automated workflow that starts 30 days before move-out. For example, during renewal inspections or pre-move-out inspections, your team should be documenting what work is needed and creating a clear, detailed list that’s ready to go as soon as that unit is vacant. You can even have residents do this themselves. If your state regulations allow it, consider having residents take inspection photos themselves while they’re still occupying the unit. You can even incentivize them to do so by letting them know they’ll get their security deposit back sooner to encourage participation. You should also be tracking the age of items like carpets that have a defined life span. You should know well in advance of a vacancy whether you should be calling someone to clean the carpets or replace them. The goal is simple: gather as much information as possible before the move-out. That gives you time to line up vendors, order materials, and cut down turn time. It pays to be proactive Getting ahead in the game isn’t just about saving time. The more proactive you can be, the less likely you are to run into rush fees or have to find alternate vendors because your preferred vendors are already booked up. Plus, you get the added bonus of being able to give owners more lead time so they can plan for expenses, rather than feeling like it’s being sprung on them. It also allows you to be extremely clear with your vendors about what specific work needs to be done during each turn. You shouldn’t be relying on your vendors to give you the checklist of what needs to be done. That’s like taking your car to a mechanic and asking, “what’s wrong with it?” and providing no additional information. They’ll find a laundry list of (very expensive) things they need to fix. Instead, you already know what needs to be done and on what timeline. Sure, the vendor might suggest additional work, but then the choice is yours whether you take that to your owner as an optional service. Besides, your vendors should already know what your standards are and how to uphold them, so you should already be on the same page. One strategy I’ve found incredibly helpful is gathering general pricing information from vendors upfront. During the vetting or onboarding process, I recommend sending out a vendor pricing sheet that includes the most common services you regularly need: like smoke detector servicing, repairing or replacing blinds, carpet cleaning, interior painting, or annual HVAC tuneups. Each vendor gives their best estimate for a price range, and now you have the information you need to select a vendor and give your owner an accurate estimate ahead of time. With enough practice, you’ll be able to calculate roughly what all your combined turnover maintenance will cost before the current resident even moves out. Aligning your team One last thought: your entire team must be aligned when it comes to vendor relationships. Everyone should clearly understand: Who your preferred vendors are and why they were chosen When it’s appropriate to gather competitive bids The process for submitting and tracking work orders Consistency is key. Ideally, vendor communication should run through a centralized process with a single point of contact responsible for coordination. This prevents confusion, keeps timelines on track, and ensures vendors know exactly who to communicate with. What you want to avoid is this: one property manager having one preferred vendor while another PM has a different preferred vendor for the same work. You also don’t want multiple PMs competing for the attention of the same vendor. I once had a vendor fail to turn a property of mine because they had a closer relationship with a different PM on my team, and they had a property they needed turned. This kind of breakdown leads to delays, inconsistent results, and ultimately, a poor experience for your owners. Make alignment a priority. When your team speaks with one voice, your processes stay intact and your vendor partnerships get stronger. Looking for ways to delight your residents and encourage them to stay longer? Join Second Nature’s upcoming RBP workshop to see how you can improve the resident experience.

Calendar icon July 22, 2025

Read more

Structuring your Management Fees to Incentivize the Right Outcomes

It’s a fundamental principle of economics that incentives drive behavior. When you pay someone to do something, they’re more likely to do that thing. In property management, your revenue from fees—vendor fees, resident fees, and owner fees—provides that financial incentive, whether you realize it or not. For example, think about a cleaning service where employees are only paid hourly. If they mess up jobs and get called back to fix them, they’re now incentivized to mess up jobs just to guarantee themselves more working hours and therefore more pay. There should be a penalty for callbacks, or they should be paid by the job, and only when it’s done. Property managers often fall into the same trap of incentivizing the wrong behaviors, in part because we encourage each other to do it. We encourage each other to layer on extra fees, even if they’re contrary to the owner’s best interest. Instead, let’s set a fee structure that motivates the types of behaviors we want to see. Show me the fee and I’ll show you the outcome Each and every fee that you charge for your services is incentivizing some kind of behavior, either by your staff, your residents, or your investors. It’s vital to take a deep look at what the potential unintended outcomes are of those fees so that you don’t end up incentivizing the wrong behaviors. For example, when you charge a late fee to residents that effectively doubles, triples, or quadruples your profit for that unit that month, and it goes straight into your own pockets, you’re incentivizing your company to let residents pay late, because it’s more profitable for you. You’re discouraging your team from proactively sending rent reminders and finding ways to get residents to pay on time, even though that’s what’s best for the people you work for: your clients. A small fee to cover labor is one thing, but turning counterproductive behavior into a profit center is another. I’m of the belief that good property managers should be able to maximize their revenues in this industry, but they shouldn’t do it in a way that pits property managers against owners—and both of them against residents. What you charge for, how much you charge, and how you charge it is a highly personal decision, but I stand by the principle that we can design better fee structures that incentivize the right behaviors for our clients. What the traditional property management model gets wrong There are some pretty standard fees that the vast majority of property managers today charge. The problem is, most of these fees are incentivizing the complete wrong behavior. What do I mean by that? Let’s look at some of the most common fee types: High leasing fees and turn fees: They’re designed to reward property managers for finding and signing great residents, but the side effect is that they actually encourage turnover. When you get paid more for finding a new resident, why would you work to retain the existing one? Late fees: Like I said earlier, this actually incentivizes late-paying residents. If you profit significantly from residents paying late, that’s a good thing for your business and you’re now incentivized to allow late payments rather than stamping them out. Again, it’s fine to cover labor costs when you have to chase down late payers, but don’t treat it as a windfall. High markups on maintenance: This incentivizes your team to allow big-ticket items to break, because it means a higher fee for fixing it compared to just performing proper preventative maintenance. It’s antithetical to keeping the property in top condition. With traditional models, property managers actually make the most money when things go worst for the owners. It’s the best for PMs when residents pay late every month, move out every year, and do maximum damage to the property, even though those are all bad things for the investor. It’s a problem of unbalanced incentive structures. Incentivizing the right outcomes There’s a way to build a fee structure that is both profitable for your company and better aligned with outcomes that are good for your clients. And to be clear, I don’t believe the pendulum should swing all the way to the other side, where property managers are charging absolutely no fees and aren’t getting paid fairly for what they’re doing. We should still charge extra money when we do extra work. We should just do it in a way that’s mutually beneficial. What do we actually want to achieve? We have to start by determining exactly what types of things we want to encourage, and only then can we set a fee structure that incentivizes that. We can all agree that real estate investors are best served by quality, on-time-paying residents who treat the properties they rent with great care. We can also agree that we need to cover our costs when we do extra work. But the lion's share of our profits should come from the scenarios that are best for the owners. I believe we should be incentivizing the behaviors that maximize returns for the investors. Think of yourself as an executive When you think about how you earn money, I think it’s helpful to look at executives. VPs and CEOs often have relatively low base salaries, but their potential for performance-based bonuses is huge. Their pay structure incentivizes them to perform well and deliver results that are good for the company. In the case of property management, our decisions and inputs have a material impact on how our clients’ companies succeed. We should be driving profitability for them, and we should be tying our own compensation to that profitability. Taking responsibility isn’t easy One of the reasons that it’s so difficult for property managers to take a hard look at their fee structure is because it requires a level of vulnerability. We have to take responsibility for the system we’ve built and where it’s falling short. Self-policing isn’t easy, but it’s hugely beneficial not only because it’s the right thing to do, but because it’s also good for the industry as a whole. It means we have less need for government regulations, legislation, and oversight. It’s easy for property managers to write off the bad behaviors that they’re incentivizing, and instead just blame it on residents. But the reality is, when we treat residents poorly with high fees, we create an inherently antagonistic relationship. We create residents who respond by leaving, or by treating the property poorly, etc. We share some responsibility for that behavior, and we need to hold ourselves to a higher standard. Proposing a hybrid fee model I would propose that replacing the standard fee-based model with a hybrid plan can better align us as property managers with the goals of our clients, while also improving relationships with residents. In fact, that’s exactly what I’ve done at my company. Start with a blended management fee, with a small percentage fee stacked on top of a flat rate. This basically brings the management fees from your highest rent properties down while also bringing fees from the lowest rent properties up. All of your clients pay closer to average, rather than just forking over a percentage of their rental income. It also raises the monthly management fee for your lowest rent properties, making it easier to manage them profitably. It reduces that temptation to charge excess fees and allows you to instead incentivize the behavior that benefits your owners. Fees that work for everyone Here’s what I think makes for the best fee structure to keep everyone on the same team: High management fees using a hybrid structure Late fees that are split with the property owner Reasonable leasing fees that aren’t high enough to incentivize high turnover No fees when a unit sits empty Little to no markup on maintenance, because to me that’s just part of the job Ultimately, how you charge fees is up to you. I’m not going to sit here and shame or judge anyone. But my goal when I talk about this is to raise our sights and say, “Even if this is a hard thing, we should do it because it’s better in the long run.” This won’t revolutionize your business overnight. It’s a long-term play. But you need to have trust in the process and recognize that having trust builds trust. Interested in delivering services that residents are willing to pay and stay for? Join our upcoming RBP Workshop to learn more about our Resident Benefits Package.

Calendar icon July 17, 2025

Read more

How to Grow a Property Management Company: 8 Tips for Success

Scaling a property management business is not easy. Especially in highly competitive markets, real estate investors are trying to shop on price, services, and convenience. Meanwhile, you’re trying to make sure you’re selecting the right clients and maintaining a high enough profit margin to sustain your business. That leaves a lot of PMs unsure of exactly how to grow a property management company in a healthy way with a long-term vision. Many property managers think of growth purely in terms of their go-to-market strategy and acquiring more doors, but in reality, sustainable growth is heavily dependent on internal efforts. You need to be hiring the right staff, ensuring the best resident experience, and building out razor-sharp processes to support it all. In this article, we’ll walk you through eight key tips for growing your property management company in a way that sets you up for long-term success. 8 Ways to grow a property management company Growth isn’t just a single aspect of your business; it’s a culmination of all your different efforts. It requires you to market yourself well and find the right clients, but it also incorporates your staff and hiring standards, your company’s reputation, and your mindset as a leader. 1. Be selective Especially in the early stages of expansion, it can be tempting to take a grow-at-all-costs approach. You want to say yes to every single potential client and add as many doors as possible to your portfolio. The problem with that is the long-term impact; when you have clients who don’t fit your company or your system, they end up draining resources from your team. They take more energy and investment to maintain than is sustainable for a growing business. Instead, try to be selective about the investors you’re bringing onboard. Start to get specific about the types of owners you want to work with. For example, do you want to work with dedicated investors or accidental landlords? Single-family properties or multi-family buildings? What about owners who also have commercial or multi-use properties? Once you’ve got the basic parameters in place, aim to document the standards that investors must meet in order to work with you. Do they have sufficient cash reserves? Do they have the mindset of a buy-and-hold investor? Are they aligned with your vision for how you’ll manage their property? When you have a portfolio full of properties and owners that work within your system, you’ll be able to focus less energy on catering to them and spend more time growing your business. 2. Think like an owner Another key step in building a strong business is thinking like an owner. As you build out your service package, make sure you’re really putting yourselves in the shoes of the owner. What services are going to provide the most value to them? What are the property tasks that they most want taken off their plates? There are some basic items that you’ve probably already considered: Rent collection Property maintenance Leasing Evictions Inspections Cleaning But beyond that, think about some more value-adding services that might not come standard with all property managers: Tax document preparation Renters insurance management Large-scale renovations Pest control Any value-adding services that you can include in your service package can help you stand out from the competition and win more deals with new investors. 3. Connect with absentee owners Absentee owners are a great source for new client leads. These are people who own a home or homes that they don’t occupy. While that’s not a guarantee that they’re renting out the property, it’s certainly a good possibility. By targeting absentee owners with your messaging and outreach, you can be much more specific and spend a whole lot less money than just sending mailers out to all homeowners in your area. Identifying absentee owners is actually a simpler process than you’d expect. Because property ownership and taxes are all public record, you can pull a list of property owners and their residential addresses, and then compare to see who owns property that they don’t live in. It takes a little bit of time investment, but it can save you money down the line. 4. Market locally Everyone knows the three most important factors in real estate: location, location, location. Make sure that you’re doing as much as you can to position yourself as a local business working with the local community. For example, make sure that your Google Business page (and any similar listings like Yelp or Facebook) clearly list your company address accurately. This will help capture anyone searching for local property management services. You can also work on optimizing your website for local searches. When local property investors are looking for managers, they’ll often search Google for terms like “property managers near me,” “local property management companies” or “property management in Miami”. You want to make sure your website is optimized to capture these searches. You can also set up Google ads so that your company is displayed right at the top of the results when people run these searches. SEO is free while Google Ads cost money, but some balance of the two is often the most productive way to capture new leads. 5. Find the best talent While hiring staff members may seem somewhat separate from business growth, they’re actually deeply intertwined. First off, having the right people on your team is going to better position you to both acquire and retain clients. If you don’t have the right staff there to support your clients through the sales, onboarding, and retention process, you’re going to struggle to grow. Second, as you do grow, you’re going to need to continue adding staff to support those new doors. You want to make sure you have a robust hiring methodology in place so that you can identify great talent and bring them into your team quickly. 6. Build your reputation In a service-focused industry like property management, your reputation is your life blood. You need to make sure you’re actively managing that reputation in order to keep your company’s go-to-market strategy healthy and thriving. The first pillar of a great reputation is simply delivering exceptional service. You’re going to be known for the service that you deliver one way or another, so you should be doing everything in your power to make sure that it’s top-tier. Whether that means going above and beyond, hiring the right vendors, or answering the phone during off hours, it’s going to impact how your customers perceive you. The second pillar of reputation is asking happy customers and residents for reviews. Online reviews across Yelp, Google, Facebook and more can help potential customers better understand where you’re meeting and exceeding customer expectations. One of the first things potential clients will do when they discover your company is look for reviews, so make sure there are high-quality, positive comments there to read. 7. Keep all work in scope Another key to scaling your business is maintaining firm boundaries. If you want a company that can grow effectively, you need to maintain a clear scope of work and have conviction in the work you do and don’t do. Catering to each owner’s individual needs and requests can cause your team to get bogged down and decrease efficiency throughout the organization. When you stick to the scope of work that you agreed to and don’t make exceptions for individual clients, it supports scalability and helps weed out owners who are a poor fit. 8. Evaluate the competition One final element that’s vital to growing a business is gaining a comprehensive understanding of the competitive landscape. Analyzing your competitors will help you identify ways for your company to stand out. Take the time to put together battlecards or talking points on your competition. Look through their website, their service offering, and any public reviews to see where you can position yourself as the better option. Adding services like a Resident Benefits Package can help you differentiate yourself even more. With benefits like a filter delivery service that protects HVAC systems, or resident rewards that incentivize on-time payments, an RBP can help tip the scales in conversations with owners. Grow your business with Second Nature Second Nature’s goal is to make renting easier for residents, owners, and property managers alike. Our RBP drives resident retention, saves time traditionally spent on pest control and insurance management, and sets your company up for long-term success. If you want to learn more about how an RBP could set your business apart, schedule a demo with a member of our team today.

Calendar icon July 8, 2025

Read more

How Service Tiers and Taking on Risk Shaped our Proven Process

Not too long ago, the hot new thing in property management was offering different service tiers, where the more a client paid, the more they got in their management package. I decided to give it a try, and through the process I learned a lot about myself and how I wanted to run my business. The thing is, I didn’t want to build any kind of “less than” tier. In my view, if something is good for clients, it should be included in every plan that I offer. Otherwise, I’m just delivering some clients sub-par services. That got me thinking about how I wanted to build out my different service levels, how I wanted to structure my business, and how to build a proven process that could allow me to step outside of my role as an executor to become more strategic. Assuming risk with a “gold plan” Because I didn’t want to offer a package that I didn’t think lived up to my values and my brand, I ultimately decided not to go with a good/better/best structure. Instead, I kept my standard management package and added what I called a Gold Plan. The Gold Plan was built to offer all the same services as my standard package, but it also came with some pretty hefty guarantees. Basically, if you paid for Gold and you had losses, property damages, or unpaid rent because of a resident, we would cover that expense. The program was completely self-funded and self-insured, so the buck stopped with me. On its face, this seemed like a pretty big risk for my business. Assuming financial responsibility for so many different things was a gamble, and plenty of people told me I was just asking for trouble. But the thing is, I knew my business, and I had the data to back it up. When I took a deep look at my company’s performance, it turned out I was losing less than 1% of receipts to bad debt, so the risk factor was actually very low compared to the additional management fees I was collecting with the Gold Plan. Risk mitigation as a service One of the biggest reasons that I chose to develop the Gold Plan wasn’t just because I felt that we could increase profit margins. Risk mitigation is actually of tremendous value to our investors. By building it into our go-to-market strategy as a defined service, it helped us better communicate that value. Differentiating your property management business is really difficult. Most clients are so detached from the daily workings of property management that they don’t even know what to ask about. We have to do a lot of work just to educate them on what it is that we do, never mind all the value-adding activities they never see. By packaging risk assumption as a unique product, it helped us better articulate our value and present a clearer go-to-market message. Developing a proven process What I didn’t foresee when I built out the Gold Plan and took on some of this risk was how my own role within the company would evolve. As we continued to grow, I had fewer direct touch points with my clients, and things became a little bit less predictable. Working on my business, not in my business It’s a story a lot of property managers can tell you: when you’re small you know every single client, but when you reach a certain level and you hire more staff, you’re less involved in the day-to-day and focused more on business strategy. The problem in my case was that I had built a Gold Plan based on the idea that I could personally oversee the risk levels of all my clients and all of their properties. When I shifted into a more strategic role, that became increasingly difficult. I no longer had eyes on every single interaction or every property inspection. I hired business development managers to bring on new clients, and suddenly I wasn’t intimately involved in every deal that came in. I realized that I needed to design a company that let me keep a handle on risk, and that’s when I developed our proven process. Creating a need for a proven process The proven process started with a few simple questions about making the company more efficient and keeping us out of crisis mode: How do we make sure that properties stay stable? How can we identify risk before it becomes a problem? How can we get properties back on track to a stabilized status? We started by identifying what kinds of things actually indicated “risk”. What behaviors were indicators that there might be a growing problem? Things like: Code violations in a property Resident disputes (with us or with each other) Unpaid or consistently late rent We started flagging every one of those behaviors as soon as it happened so that we could monitor and stabilize those properties. That quickly developed into an hour-long, weekly meeting where my staff reported out any red flags they were seeing, and then the whole property management team discussed ways to address them. I joined that meeting and basically role-played the world’s worst client, pressure testing every solution we proposed until we were confident in our go-forward plan. That one hour a week let me keep my finger on the pulse of every potential problem across our portfolio without having to be deeply involved with every single resident every single day, and allowed me the time and space I needed to make strategic decisions about the business. It also let me see the inner workings of how my team was confronting problems, and gave me more confidence than ever that they were doing the right thing. Moving beyond the Gold Plan Ultimately, after a few years, I made the difficult choice to sunset our Gold Plan. While it was a great program for us, it didn’t come without challenges. When I was acting as a BDM and directly involved in every single deal, I had a natural intuition for which clients I should sell Gold Plan to. Once I hired other BDMs, they didn’t have that same instinct, and, as a result, we started selling Gold Plan to accounts that weren’t a great fit for it. And those accounts started costing me. The Gold Plan was successful while it lasted. I didn’t get wiped out by any disasters, and I did make a profit. But the potential future risk to my business meant that, as a leader, I had to protect myself and my staff, and quit while I was ahead. I’m still looking at ways to relaunch a similar plan, this time supported by a third party insurer. In the meantime, I’m still utilizing the proven process that we developed, and it’s still incredibly effective in helping me manage clients, residents, and staff without having to be constantly in the trenches. If that were the only result to come out of the Gold Plan, it would be 100% worth it. I learned a lot, and I’m glad I took a chance. Final thoughts To me, there are a few lessons that any property manager should take from this experiment. Be deliberate about how you build service packages. You should put very clear, specific thought into how to build service packages that work for your business. Don’t just think about how profitable they’ll be or how well they’ll sell, but consider how they’ll change your team structure, the way you work with your staff, and what will be required of you as a business leader. Make your service levels scalable. As your company grows, your role will continue to evolve. You can’t be directly involved with every client, and you need to trust your team. Make sure you’re offering management packages that allow you to do that. Use service tiers to communicate your value. The various packages that you offer to investors can be a fantastic tool to help show exactly what it is that you do. You don’t want clients wondering what they’re getting in exchange for their management fees. Client education never ends, so embed it into your process. Don’t be afraid to pivot. You should always be thoughtful when you try new things. I had data to justify the Gold Plan. I didn’t just start selling it on a whim. But as things changed, I realized it was no longer right for my company. Don’t be afraid to change things if they’re no longer working. Everyone’s business is different, and every business leader takes their own approach. But with each business decision you make, you should always be on the lookout for ways to improve the processes around it. If you want to hear more about how I approach my company and my property management philosophy, listen to my recent episode of the Triple Win Podcast.

Calendar icon July 3, 2025

Read more

How to Write a Property Management Proposal

Having a strong property management proposal at the ready is key to closing deals and bringing on new clients. But what many property managers don’t consider is that the proposal goes far beyond that. In many ways, it sets the tone for how your whole professional relationship will be conducted. A well-structured, carefully crafted proposal sets clear expectations for your client-to-be, illustrates your company’s professionalism, and builds trust in your ability to execute. That’s why we’ve put together this property management proposal template that you can use to take your pitch to the next level. What is a property management proposal? A property management proposal is a document used in the sales process to outline the key terms of the property management agreement, your management fees, the contract duration, insurance provisions, obligations, termination conditions, and more. It’s a simple, straightforward way to give your potential client all the details they need to make the decision to hire you. A strong proposal document is essential for every property management company looking to expand their portfolio. It’s a key tool in the sales cycle when trying to close deals with new investors, and can also be useful if you’re looking at acquiring or being acquired by another management company. For many single-family property management companies, the proposal also includes information on why clients should hire professional management services in general, rather than trying to self-manage. What to include in a property management proposal A property management proposal should include all of the information that a potential client needs to make an informed decision. That includes information about your company, your team, your policies, and the contractual agreement you’re entering into. Here are some of the key areas you should be sure to include: Cover letter or proposal introduction Your proposal should open with a short, friendly cover letter introducing yourself and your company. This section should summarize the purpose of the proposal and outline its contents, while also highlighting key value that you provide or differentiators for your company. Just like a cover letter you write when applying for a job, this section should highlight why you feel you’re a particularly good fit for this client. We recommend customizing at least part of the cover letter for the specific investor you’re pitching to, highlighting why their company in particular would benefit from your services. About your company This section should highlight the key points about your company, but don’t write too much here. The client isn’t interested in knowing every single detail of your history, but you should convey some key points that will help build trust: Who you are How large your portfolio is today How long you’ve been in business Your mission statement Your company’s core values Meet the team This is your opportunity to call out key staff, especially those that this client will be working closely with. Add headshots to make it feel personal, and include short bios and job titles. Where applicable, include certifications that your team has and the length of their industry experience. Your approach to property management This section is sometimes folded into the section about your company, but it doesn’t hurt to call it out separately, especially if you have a unique process, mindset, or methodology. Write a few sentences about how you manage properties, like your approach to communication, your commitment to transparency, or how you leverage technology. This not only helps differentiate you from your competitors, but also establishes what the client should expect from you moving forward. Scope of services This section gets a little bit more technical, and typically includes a comprehensive list of services that your company will provide: Marketing properties Resident screening Leasing Preventative maintenance Responsive maintenance Rent collection Customer service (including availability hours and whether you have a 24/7 service line) Renters insurance management Make it very clear to the client what you offer (and what you don’t). Budget and pricing breakdown Next you’ll want to outline your expense structure, including whether you charge a flat management fee, a percentage-based fee, or a combination of the two. Include standard fees and optional add-ons that you offer. If you have multiple plan tiers, this is the place to outline them, including a personalized recommendation for the client based on their property or properties. Legal and insurance Now it’s time to get deeper into the details. This section is where you want to outline your approach to compliance and how you stay on top of landlord/tenant laws. Include details on how you mitigate risk and liability, and how that benefits property owners. This is also a great area to highlight your property insurance and renters insurance requirements, with a focus on how you enforce compliance. Property portfolio You always want to tell great customer stories in your proposal. Be sure to showcase two or three properties that you currently manage, especially if they’ve undergone significant transformation or you’ve increased the property value well. Try to curate this section to match the portfolio of the prospective client. For example, if they own a mix of residential and commercial properties, or a mix of multi-family and single-family homes, make sure the proposal is representative of that. You should also include overall statistics about the number of properties you manage, what geographies you serve, and what types of properties they are. Client references or testimonials Be sure to highlight current clients who are happy with you, especially if they’re willing to serve as references. This should go without saying, but always make sure you have explicit permission before listing someone as a reference or having a prospective client contact them. This section can also include testimonial quotes, online reviews, or links to case studies. If you have video case studies, include screenshots with a link to watch the full video. If you’re delivering your proposal as a website or slide deck, you may even be able to embed video clips directly in the proposal. Optional add-ons that can set you apart Remember, the whole purpose of the proposal is to try to close the deal with a new client, so don’t hold back if you have unique value propositions that differentiate you. Include a dedicated section on unique services that investors may not find elsewhere. Sustainability initiatives If your company takes a sustainable approach to property management, be sure to describe it. You may use eco-friendly vendors for maintenance, landscaping, or pest control. You may also offer green upgrades like smart thermostats or clean energy utility providers. Include those here to stand out. Resident benefits packages Resident benefits packages are a great way to stand out. If you offer an RBP like Second Nature’s, outline the various benefits that are included. Be sure to focus on how these add value for the property owner, including increasing resident satisfaction and retention. Make sure that the client understands the impacts of the experience economy and why it’s important to deliver the best possible resident experience as a property manager. Tips for making your property management proposal stand out If your prospective client is doing their due diligence, they’re probably receiving proposals from multiple PMCs. You need a clean, well-constructed proposal that’s going to stand out from the crowd. Use a clean, easy-to-scan layout Use bullet points, white space, and clear headings that can help the reader quickly navigate and understand the content. Where relevant, consider adding imagery, charts, and graphs to highlight key points. Tailor every proposal You want your proposal to be anything but generic. If a client feels that you’re just handing them the same proposal you give to everyone, they’re going to be less than impressed. Make sure that the proposal you’re putting in front of them is customized to their company, property type, and pain points so that they feel personally catered to. Keep it short, but substantial Don’t overwhelm your clients with too much information. Include enough to inform them without becoming burdensome. We typically find four to six pages to be the right length for most property owners to digest. Offer a next step Make sure that your proposal ends with a clear call to action. Depending on where in the sales process you are, this might be to: Schedule a call Sign the agreement Request more information Schedule a time to visit the property You can also follow up on your proposal with a courteous, professional email. Your goal is to keep the conversation going without making the investor feel like you’re demanding a response. Give them an opportunity to ask questions while also reinforcing your value. Make your proposal work harder with Second Nature Remember, a professional, detailed property management proposal will help you win better clients and grow your business. Want to enhance your company’s offering? Second Nature’s Resident Benefits Package can help you deliver more value to owners and residents alike while also growing your business. Join our upcoming RBP Workshop to learn more about RBPs and hear from actual property managers about how they’ve worked with clients to implement new benefits.

Calendar icon July 1, 2025

Read more

Calculating your Max Customer Acquisition Cost as a Property Manager

Sales and marketing is a tough expense to swallow for most small businesses owners. That’s why it’s important to have a target customer acquisition cost (CAC), which will help you keep your go-to-market spending at a level that drives success while still allowing your business to be profitable. It will also give you data-backed confidence in your spending, knowing that it’s driving results. There are some basic economic principles that I think all property management business leaders should be applying in order to calculate their maximum customer acquisition cost. In this article, I’ll walk you through what customer acquisition cost is, how it relates to new present value, why it’s helpful to think of sales and marketing costs in terms of future profits, and how to increase your max CAC to help grow your business. Defining max CAC Customer acquisition cost (CAC) is the total amount of investment it takes to bring a new client under management. It’s a calculation of all of the marketing and sales expenses you need to put out in order to bring each new customer in. CAC is particularly useful in determining the success of your marketing efforts. Your max CAC is the highest amount you can profitably invest in new client acquisition. While CAC is just a measure of what’s currently happening, max CAC is the highest number that you’re able to spend while covering costs and getting a return on capital. If you exceed that max CAC, it’s time to pump the brakes a bit and reevaluate. Do you know your CAC? It’s my strong belief that property management company owners frequently underestimate how much they can profitably spend to acquire new clients. In fact, I suspect that most property managers don’t even know what they are spending to bring in new doors. Most property managers, even if they were willing to be completely open and candid with you, would not have a great sense of how much money they spend to bring in new customers. Many probably have no idea at all. If I had to guess, I suspect most would probably tell you that they just want to spend as little as possible. The most business-savvy might take their total marketing budget and divide it by the number of new contracts they sign each year, just to get a rough estimate. At the end of the day, it’s basically just a gut feeling or, at best, some fuzzy math. I think for many PMs, not having a max CAC stems from not having the data that contributes to it. For example, if you don’t know your lifetime revenue from new clients—and the lifetime margin for each property—how can you possibly calculate the amount of money you can spend to generate that revenue? Understanding net present value in business I’m of the strong opinion that we can and should be using an economic concept called net present value (NPV) to calculate out the maximum amount we should be paying any individual new client. Net present value is a discounted look at what you should be willing to spend to get a return. NPV recognizes a basic truth: a dollar today is worth more than a dollar tomorrow, thanks to inflation. When businesses evaluate investments, they use NPV to compare the value of spending money now against the future returns that spending will generate. For example, a $10,000 contract paid out over the next five years is worth significantly less than a contract where all $10,000 is paid in full up front. That’s because in five years, when the final payment is made, that $2,000 installment will have less buying power. Net present value is the equivalent value today of that $10,000, five-year contract. Max CAC as the net present value of future profits This concept is particularly relevant in property management, where upfront client acquisition costs generate revenue streams that can last for years. Using net present value to understand your maximum CAC is a bit unconventional, but it’s actually very revealing, especially for those property managers who don’t currently have a good sense of their CAC. Basically, your maximum CAC should be the net present value of the revenue from an average account. There are a few things you’ll need to know before trying to calculate NPV, though. First of all, you need to be confident in your churn rate and lifetime value (including value broken out for each year) in order to do these calculations. If you calculate that you can spend $1,000 per client, but then your churn rate increases, suddenly you’ve overpaid for a contract that’s not going to earn back the money. Measuring return on capital Property management is a relatively mature market, and in mature markets, businesses look at profits in terms of return on capital. Just as the property owners we work for have capital that they’re looking for a return on, we as business owners also have capital in our businesses that we should be looking for a return on. As a business owner, you should set a goal for the return on capital of your business. For many businesses, this tends to fall in the 15-20% range. That’s the profit margin you want to achieve, and you’re going to factor that profit in when you start calculating your max CAC. Calculating NPV for property management Once you understand the components of NPV, calculating it actually isn’t too complicated. For a business like property management, it can be pretty straightforward. I think it’s helpful to look at an example to really illustrate the math here. Let’s look at an example Let's say your company generates $1,300 in annual profit per door, and clients typically stay with you for four years (25% churn rate). If you want a 20% return on your investment (your discount rate), you'll calculate the present value of each year's revenue stream as follows: For Year 1: $1,300 ÷ 1.20 = $1,083 For Year 2: $1,300 ÷ 1.44 = $903 For Year 3: $1,300 ÷ 1.728 = $752 For Year 4: $1,300 ÷ 2.074 = $627 The sum of these discounted values ($3,365) represents the maximum you could spend today to acquire a client while still achieving your target 20% return (on the cost of acquisition). That number might strike you as very high, and you wouldn’t be alone. When you actually do the math, max CAC is typically much higher than what most property managers intuitively believe they can spend on client acquisition. Think of this calculation as your "money machine" calibration. Your property management business is your money machine, and you're essentially determining how much you can put into one side of the machine (client acquisition) to get your desired return out the other side (future profits). Understanding your max CAC through NPV analysis transforms marketing from a cost center into a strategic investment vehicle. That’s why it’s so important to do these calculations; it gives you the confidence to invest in sales and marketing, knowing that you’re going to see a return in the future. Growing your max CAC The more profitable your business is, the more you can afford to spend on customer acquisition. The most direct way to increase max CAC, then, is to increase profitability through as many avenues as possible. With tools like Second Nature, and especially their new Group Rate Internet benefit, you can increase profitability, which will in turn have a huge impact on your max CAC. Suddenly you can not only spend more on marketing, but you can beat out your competition and close more deals. This turns into a kind of flywheel effect, whereby more doors yields higher profitability, which yields more room to increase your CAC, which yields more doors. Interested in learning more about how a Resident Benefits Package can help you generate more revenue? Register for an RBP workshop today and hear from real Second Nature customers.

Calendar icon June 26, 2025

Read more