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Triple Win Property Management Blog

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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

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When to Coach and When to Cut: Working with New Investors

When you’re growing a property management business, a universal challenge is figuring out what kinds of clients are the right fit. Bring on the wrong ones, and you burn through your team, churn accounts, and lose money. Bring on the right ones, and everything runs smoother—and becomes more profitable. If only it were as simple as good versus bad. The truth is, even the best-fit clients usually require some leadership to get there. One of the most valuable skills I’ve developed is knowing when to coach a client and when to cut them loose. I’ve built a company that runs like a well-oiled machine, and I can’t afford to jam it up with the wrong clients or properties. If you put the wrong materials into a great machine, you don’t get great results. You get breakdowns. To me, clients and properties are the raw materials. And my job is to make sure we’re only putting in the right ones. I evaluate two factors: trust and vision alignment. Trust is the line in the sand Clients must trust my team and our proven process. That’s not negotiable. Without trust, we can’t do our job. I don’t expect blind faith. I lay out the plan, explain the process, and give data-backed pricing. If a client still can’t trust our expertise, especially when their buddy “who owns rentals” is their go-to instead, then that’s a no-go. If they don’t trust the vision I’ve outlined to stabilize and grow their investment, it’s better for both of us to walk away early. Vision alignment matters The other dealbreaker is a lack of vision alignment. I’m clear about the kinds of clients I want: long-term, buy-and-hold investors. If someone wants to flip properties or sell every few years, that’s a totally different mindset. It’s not what our machine is built for. I also need clients to see their investment as a business that operates stabilized property. I define a stabilized property as one that “attracts and retains qualified tenants at market rent with no deferred maintenance.” That takes resources. If a client isn’t willing or able to fund that stabilization, they’re not aligned with our vision. It’s not that every client buys into the full plan on day one. But it gives us a shared goal to start from. And in those early discussions, I’m trying to determine: are they optimizing the plan for their situation, or rejecting it altogether? That tells me whether they’re in or out, and how much coaching they need to be successful. What if they’re not a perfect fit? Most clients aren’t perfect right away. That’s okay. They don’t need to be. They just need to bring the right ingredients, and be open to the process. That’s where coaching comes in. I front-load expectations. Before a client even has a chance to get emotional about something, I’ve already addressed it. I explain their role, the process, what they can expect from us, and what we’ll expect from them. If you wait for a client to raise a concern, you’ve already ceded authority. I call this showing leadership in your advisory role. Set the tone early. Show leadership. Be the coach. Managing emotions without becoming a therapist It’s totally normal for clients to be emotionally attached to a property—especially if they’ve lived in it or inherited it. But property management isn’t therapy. I don’t try to fix their emotional hang-ups. I do try to relate. “I get it. My grandfather built a house too.” That simple moment of connection might help them take the next step toward being a landlord. But if they can’t grow into the investor mindset? That’s a cut. Now, if you also do real estate sales, maybe a sentimental landlord is still a potential listing for you. But I don’t sell houses, and I’m not interested in working with someone who’s just emotionally attached to a rental. The team comes first My emphasis on trust and vision alignment isn’t just about me. It’s about protecting my team. I could probably tolerate working with just about anyone. But I’ve seen how the wrong client damages team morale. And at this point in my business, I have the confidence to defend my people and hold clients to our standards. Every time I defend my team, I show them they can trust my leadership. That builds loyalty. Looking ahead: a growing need for coaching Now is the time to sharpen your “coach or cut” instincts. The wave of new clients is coming—and they won’t all be investor pros. With the generational wealth transfer in full swing, we’re seeing more accidental landlords inheriting properties. Many of them are emotionally attached and financially unprepared. They’ll need coaching. At the same time, high interest rates mean fewer owners have cash on hand for repairs or improvements. Deferred maintenance is about to become your new reality. Coaching is already part of the job. But going forward, it will become essential to how we lead, protect our teams, and deliver results. So get good at reading the signs. Don’t be afraid to decide: coach or cut. Your team and growth depend on it.

Calendar icon June 5, 2025

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How to Find Real Estate Investors for Your PM Business

Growing your portfolio size remains one of the most effective ways to make your business more profitable and continue to scale. But many property managers are left asking how to find real estate investors to manage for in the first place. First off, let’s be clear about what we mean when we say “investors.” Real estate investors are owners of rental properties who are looking to make those properties profitable, and who are potential clients for property management companies. Many PMs differentiate investors from accidental landlords, and define investors as property owners who are deliberately looking to build wealth through real estate. Finding investors is essential for growing your property management business, but it’s not an easy task. In this post, we’ll dive into how to find investors and get them excited about becoming your client. 8 Ways to find real estate investors for your property management business Let’s take a look at how to grow your business without burning out. Here are eight ways that you can find new investors to add to your portfolio. 1. Leverage your existing network for referrals Your network is a fantastic place to find referrals, even among those who aren’t real estate or property management professionals. The unique thing about real estate investing is that people in all kinds of different professions participate in it. Someone can be a full-time accountant, or carpenter, or photographer, and own investment properties. Of course, you want to be sure to network with people in the real estate industry, too. Work on connecting with current clients, real estate agents, lenders, and other industry professionals. Build a strong rapport, and focus on genuine, long-term relationships where you can provide value, not just pursue transactions. Once you have a strong relationship in place, you can ask about potential referrals for real estate investors who might be looking for management services. You should also consider developing your sales skills, especially around consultative sales methods. These techniques focus on uncovering investor needs and demonstrating how your services address them. Ultimately, they’re all designed to help you close deals faster. One example is the Tie Down approach, which focuses on getting into a rhythm of consistent agreement from your prospective client. There are plenty of other sales methods that are worth researching, too. Find a couple that work well for you, and put them into practice. 2. Attend real estate associations and events In a post-Covid world where virtual connections seem more common than in-person meetings, don’t underestimate the value of genuine face time. Get out of the office and attend an industry event or tradeshow where you can find like-minded people and potential clients. NARPM hosts several national and regional events each year, but you should also consider opportunities like PM Systems, NRHC, and IMN, among others. In-person networking is effective because you can meet so many people at once, make a more meaningful first impression, and then follow up with people after the event to pursue further discussions. Just make sure you bring your business cards! One of the other nice things about trade shows is that people attending are likely looking to network as well, and possibly even looking for solutions. That takes a lot of the pressure off and creates a safe environment to approach conversations with a business-focused mindset. That said, you should always take the approach of wanting to have genuine conversations, asking people about themselves, and listening to what they have to say. You just might learn a thing or two. 3. Deep-dive local networking (beyond real estate events) You should also consider getting out to local events that aren’t specific to real estate. There are plenty of options here; think about Chamber of Commerce meetings, Toastmasters, Rotary Club, BNI, and local charities or fundraisers. These are all great networking opportunities, and you can often find professionals there who might be interested in real estate investment. There are also opportunities in your day-to-day life, whether it’s at the gym, at a golf club, or even a co-working space where you might work a couple of days per week. One of the reasons these situations can be so beneficial is specifically because they’re not real estate-focused. You may be the only property management professional there, giving you the insider opportunity to build relationships without having to compete. If you’re going to go this route, make sure you have a solid elevator pitch prepared, especially one that focuses on how you’re different from your competitors. You should also have a clear plan to follow up after meetings, and make sure to actively participate in group discussions to make yourself stand out. 4. Optimize your business’s local listings Real estate is a local business, so make sure that you’re maximizing your local visibility. Local SEO is essential for property managers, so make sure you’re optimizing your website for your location. Real estate investors are likely to be searching for “property managers in my area” or similar terms, and search engines will produce local results first. You want to be high in the search rankings so that you can capture the attention of your prospects. You should also be optimizing your local business listings across platforms like Google My Business and Yelp. Make sure that the information there is up to date, and that there are clear, easy to use links to your website, along with a phone number that can connect prospective clients with your office. You should also be sure to include a list of services that you offer, a comprehensive business description, and accurate business hours. There’s nothing more frustrating than calling up a business only to find out they’re closed. Reviews are more important than ever, and are often one of the first things potential customers look for when researching your business. Make sure that you’re responding to reviews and addressing anything that’s inaccurate so that your listings paint a fair picture of your brand. 5. Engage with your potential investors online Online groups and social media platforms are also a great way to meet and get to know potential investors. There are plenty of property management groups across LinkedIn and Facebook, many of which include property owners. There are also property management-focused groups like BiggerPockets, which can also be valuable. You can use these groups as a way to build credibility by posting and sharing high quality content. Give advice, share insights, and answer questions to show that you know what you’re doing and are a trustworthy member of the community. Contribute in conversations, and make sure you’re authentic and sincere in your interactions. Before you jump in, make sure that your profile is polished and professional. You don’t want to start messaging people in industry groups if your profile shows an unprofessional version of yourself. 6. Partner with real estate agents and firms Real estate agents and brokerages are another fantastic way to build a steady stream of referrals. Property managers and Realtors can form a mutually beneficial relationship, providing each other leads. When a Realtor sells a property to an investor, they can recommend the property manager’s services. When a PM has a resident who’s looking to buy a home, they can give the real estate agent a referral. It’s important to be clear about everyone’s role in a partnership like this. Will you be sharing market insights and advice, or is it purely a lead-based program? How often will you be exchanging leads? Is there a minimum threshold, or a cost if one person doesn’t hold up their end of the bargain? Set these rules at the outset to avoid potential bad blood later on. An agreement with a real estate agent can also help attract investor clients outside of the referral program, because it means you can better serve them through the full lifecycle. If they’re a dedicated investor with plans to purchase more properties, your relationship with a Realtor can be valuable to them. 7. Run ads Of course, advertising is always a great option for finding new clients. We recommend using major sites like Google, Facebook, and LinkedIn, all of which allow you to target your ads to specific geographic areas. That way you aren’t paying to show ads to people halfway across the country who you aren’t able to serve anyway. You can also target people based on their job title or interest, so you can really home in on potential clients and maximize your return on investment. You can also use dedicated advertising sites like All Property Management, a tool specifically designed to match investors with property managers. There are plenty of industry-specific sites where you can advertise your company and try to find new investors. 8. Partner with REIT fund managers Finally, our eighth tip is to partner with Real Estate Investment Trust managers. Many of these funds have large portfolios of properties, and partner with property managers in order to manage and maintain the value of those assets. If you do choose to pitch REITs, make sure you’re emphasizing operational efficiency, resident retention, and cost savings. These are investment-focused clients, so make sure you’re equally focused on financials and return on investment. One of the biggest advantages of working with REITs is that they’re also consistently trying to grow their own portfolios, which means a steady stream of new business for you. How to communicate the value of your property management services Once you’ve identified some new leads, it’s important to actually be able to pitch your services effectively. This requires adept communication and the ability to explain not just why a professional property manager is helpful, but how you’re different from other PMCs. Your goal is to be able to discuss each investor’s fears, anxieties, and pain points, and put them at ease. An Investor Benefits Package is extremely helpful in easing those concerns and making an investor feel both comfortable and valued. Showcase your expertise and market knowledge Start by positioning yourself as a knowledgeable expert. Investors want to know that you bring legal, financial, marketing, and maintenance skills that will help them maximize the value of their properties. Don’t just speak about these areas in the abstract, either. Make sure to tell specific success stories from real clients that have measurable outcomes. You can also include positive client feedback, which will help build trust and social proof. Emphasize how you ensure compliance and reduce risk One of the biggest concerns for many real estate investors is compliance. Landlord-tenant laws and fair housing regulations can get complicated, especially if the property is in a city or county that has additional restrictions. It’s a key reason why investors may look to hire a PM. Show how your business’s processes help mitigate those risks, and point to similar properties that face similar restrictions. Tell the story of how you’ve maintained compliance with local laws. It’s also helpful to walk through your inspection processes, and how they intersect with compliance. An Investor Benefit Package can also help here, especially if it includes things like insurance, rent guarantees, or eviction protections. These go a long way in reducing investors’ legal and financial risks, which can be a huge selling point. Highlight your tenant screening and placement processes PMs need to have rigorous screening procedures to secure quality tenants for investors. One of the benefits of hiring a PMC is that they can often handle resident applications more efficiently than an investor could on their own, so make sure to emphasize this point in your sales process. An Investor Benefits Package can support top-quality screening services and protections in the event of resident default. An IBP can help minimize resident issues across the board, bringing more consistent income to investors. Explain how you handle financial management and reporting Many investors are concerned with one thing first and foremost: money. They want to know that they’ll be receiving regular checks on time, and that you’re handling the finances responsibly. Make sure that your pitch covers rent collection, lease terms, and reporting so that investors know they’re in good hands. Put particular emphasis on when and how you report out financial updates. Show sample reports and let investors know what they can expect each month, quarter, or year. Demonstrate the investor’s cost savings and improved ROI Similarly, you’ll want to be sure you’re proving your ROI in your investor pitch. Show the investor why outsourcing property management not only makes their lives easier, but also reduces overhead and leverages economies of scale. Again, be sure to point out any cost savings opportunities that differentiate you from your competition, and consider telling real stories of how you maximized return on investment for existing clients. Explain how you facilitate scalability and growth The next key topic to make sure you’re covering is growth. You need to emphasize to the client that a good professional property manager can not just keep their asset stable, but actually help increase its value and allow the investor to add to their portfolio. By selecting a property manager who also takes an asset management mindset, investors can add properties to their portfolios effectively, and with no increase in workload. Secure more investors with Second Nature’s RBP In order to successfully bring more investors onboard, you need to be proactive, persistent, and authentic in your outreach. Make sure you’re not only proving the value of property management itself, but also setting yourself apart from the pack. A Resident Benefits Package can help you secure new investors by creating a Triple Win for them, their residents, and your company. Schedule a time to meet with our team and see how an RBP can help you grow your portfolio. Book a demo

Calendar icon June 3, 2025

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Four Qualities Every Property Management Leader Needs to Have

Property management professionals are always talking about what it takes to be successful in the industry. Whether it’s personality traits, skills, or qualifications, we talk all about what makes a great member of a team. But rarely do we stop to think about what traits make a good leader in property management. At the end of the day, leadership has its own set of skills, especially in property management. It’s not about personality style; you don’t have to be an extravert versus an introvert or a numbers person versus a people person. But you do need to have certain behaviors and skills to lead a team to success. Here are my top four. 1. Strong conviction in your work If you want to lead a team in property management, you need to have a strong, core belief in the work that you’re doing, and you need the conviction to stick to that belief, even when it’s not convenient. First, you need to believe in the boundaries that you set for yourself, your company, and your employees. You also need to have confidence that those boundaries are pointing you in the direction that you want to go as a company, because if they’re not, they shouldn’t exist. Put simply, you make rules that are going to help your company succeed, and then you enforce those rules. Conviction here means giving feedback, guidance, and correction to team members who violate boundaries or stray from best practices. It means having the hard conversations when someone isn’t performing up to par. Second, you need to have conviction in your policies, and the culture and people that uphold them. Policy drives process, so if you don’t stand behind your policies, you can’t develop effective processes. Finally, you need to have conviction in who you are as a leader and as a company. Your company identity dictates the types of people you want to hire, as well as the types of clients you’re willing to work with. You need to determine who you’ll allow into your business, and you need to stand by that. It’s what gives your company a true identity, and it’s the most direct way to protect and uphold your core values. 2. A lack of ego Ego is hugely detrimental for a leader. For small business owners like broker/owners, ego usually manifests itself in a desire to maintain complete control over every aspect of the business. After all, it’s your company, and you got it to where it is, so you should keep control everywhere you can, right? Wrong. A lot of leaders resist giving up control until there’s a tipping point where everything finally clicks. Typically they either make a really great hire, or they eventually burn out and they’re forced to let go of control. Sometimes the best thing that can happen to a small business owner is hiring someone that they’re intimidated by. Bring in someone who’s so good at what they do that it feels like they could do your job better than you. Those are the people who will help take the business to the next level. Beyond hiring, a good leader needs to set their ego aside and trust the people on the front lines. They’re the ones who are closest to the problem, and they know what they’re doing. Not only should you trust your team, you should encourage them and build them up. It’s your responsibility as a business owner to provide the right systems and training to achieve the results that you want, and then get out of the way. Let your team perform where they’re highly skilled so that you can focus on the work no one else can do. A good leader should always be asking, “what can I get done without me having to be the one to do it?” 3. Willingness to understand, contextualize, and forgive mistakes If you want to lead a team, you need to understand that all mistakes are not created equal. There’s an important difference between a mistake that’s made in an attempt to help the business, and one that’s made in an attempt to help oneself. When an employee breaks policy by sending a work order to a vendor that wasn’t previously approved, because all the approved vendors were backlogged and there was an urgent maintenance issue, that’s a mistake that stems from a desire to help a resident. When a different employee breaks policy by approving an applicant who doesn’t meet your company standard, just because they want to fill a unit and not have to look through more applications, that stems from a desire to help themselves. As a business leader, it’s crucial to recognize the difference here, and deal with each one appropriately. An employee who goes rogue just to benefit themself needs to be corrected quickly. An employee who broke protocol but was acting in alignment with company goals and values should be heard out and forgiven. Here’s another way to think about it: some mistakes disrupt the fundamental culture of the team, and others don’t. The ones that do are the ones that need to be dealt with. 4. The ability to inspire Finally, a good leader needs to be able to build a true culture and give the whole team something to buy into together. I firmly believe that people inherently want to be a part of something. They want to feel that they’re contributing, and that their work has meaning. When you create a single north star for your company, your employees will work toward it. When you fail to do so, that’s when you run into poor performance, high employee turnover, and limited business success. You can set your company up for the future by inspiring future leaders and keeping them engaged. This isn’t just about the here and now, but also about the legacy of your company. When you decide to sell or retire, you’re going to want to make sure it’s in good hands. What better way to do that than by developing future leaders within your company? A true leader can get the best work out of their team, not by intimidating them or running a proverbial tight ship, but by inspiring them and developing a true belief in what you’re doing together. Final thoughts Leadership isn’t easy. And when you’re used to doing the work of an individual contributor, it can be easy to conflate the things that make a good property manager with the things that make a good property management leader. My advice is to stop thinking that you need specific character traits or a certain personality type to be a successful leader. Instead, focus on these four areas, and you’ll quickly see how impactful they can be. Want to learn more about managing a great team? Listen to my friend Melissa Gillispie’s podcast episode on the three Ts: team, touchpoints, and tech. Listen now

Calendar icon May 29, 2025

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5 Property Management Industry Trends Shaping 2025

It’s hard to believe we’re already a third of the way through the year. But this far into it, the Second Nature team is seeing more and more of the property management industry trends that are having an impact in 2025. In a rapidly changing industry, it's important to stay on top of the latest trends, technology, and innovations so that you can deliver the best possible experience to your clients and residents. Plus, many of the latest trends in property management are also key to running a more efficient and profitable business. So let’s take a look at some of the biggest trends this year that PMs should be aware of, from AI and automation to sustainability and cost cutting. 5 Property management industry trends shaping 2025 Property management is always in flux, but things seem to be changing faster than ever these days. Here are the top five trends we’ve noticed in 2025. 1. Prioritizing resident satisfaction Resident satisfaction is rapidly climbing the priority list for a lot of property managers. Resident satisfaction is a measure of how happy a resident is with their living situation, particularly the management services that you provide. Resident satisfaction is an important factor for the simple fact that it helps attract and retain quality residents. Unhappy residents are more likely to look for somewhere else to live when their lease is up, leaving you with costly turnover work and time without income. But residents with a high satisfaction rating are more likely to renew, keeping your income stream steady. Plus, many of the factors that increase resident satisfaction are also offerings that draw in new residents. Think about how offering amenities like group rate internet, automated air filter delivery, and credit building services can help draw in more applicants. Technology is also playing a bigger role in resident decision making. Smart-home tech, a seamless resident portal, and optimized maintenance workflows all provide better experiences to your residents. Many of these options are available in Second Nature’s Resident Benefits Package, which is specifically designed to improve experiences for residents, investors, and property managers. 2. Combating rising costs The next key focus we’ve seen so far this year is a conscious effort to fight rising costs. We’re seeing expenses increasing across the board, from labor to vendors to materials. As inflation continues and capital is harder to obtain, property managers are looking for ways to reduce or offset costs. Efficiency will be key if property management companies want to remain profitable and continue growing. The key to battling these elevated costs is twofold: first, reducing expenses, and second, increasing revenue. Property managers are constantly looking for ways to reduce maintenance costs, but it’s more important now than ever before. One key step is to look for more cost-effective alternatives to services that you already have. For example, on-demand pest control services can greatly reduce the amount spent on preventative pest treatments. It may also make sense to shop around for different insurance programs. A second opportunity for savings is to look for process changes that will help reduce the amount of overall maintenance. For example, an automated filter delivery program can help keep residents on top of changing filters, which can reduce HVAC maintenance requests by up to 38%. Aside from just reducing costs, you can also drive ancillary income. While many property managers might turn to fees, they can work against improving resident satisfaction. Instead, we recommend implementing targeted benefits that residents will actually see value from. They can benefit residents while also improving your bottom line. 3. Using AI and automation There’s no escaping conversations about artificial intelligence. AI is everywhere, and property management is no exception. There's a good reason for it: automation is changing how property managers operate. From virtual tours to automated maintenance scheduling, technology is helping streamline operations like never before. Take chatbots, for example. Many property management companies are using them throughout the entire resident lifecycle. When they’re looking for their next home, prospective residents can chat with an automated support agent to find a property that fits their needs, and be guided through the application process. Once they’re accepted and moved in, they can receive virtual help linking payment methods or submitting maintenance requests. And when it comes time to move out, a chatbot can help with scheduling the move-out walkthrough. When you’re constantly being pulled in five different directions, anything that saves you time is a win. That’s why Second Nature’s Resident Benefits Package is designed to automate as much of your work as possible. For example, with set-it-and-forget-it air filter delivery, you know your residents are receiving and changing air filters on time, with no extra work from your team. With our renters insurance program, compliance and policy enrollment are automated so that you don’t have to track compliance. Related: Subscribe to the Second Nature Triple Win Podcast to stay up to date on all the latest tech and trends related to property management. 4. Using data to make better decisions Property managers are also becoming increasingly data-driven. Data analytics are crucial if you want to make smarter business decisions. Predictive analytics, in particular, is becoming increasingly common in the industry. In short, predictive analytics is a method of using historical data to instantly predict future actions, giving you the power to get ahead of potential disruptions, reduce risk, and increase profits. Data can also help you optimize your portfolio. When you have a more objective view of how different properties are performing, you can choose where to prioritize your time and how to shape your portfolio. Large data sets can also help you with very specific decisions, like rent pricing. Property managers typically have years of experience that help guide how they price vacant properties, but adding a layer of data on top can help produce a more accurate number and get the property filled faster. 5. Prioritizing sustainability and energy efficiency Finally, so far in 2025 we’re seeing an increased investment in sustainability and energy efficiency. Sustainability and environmental impact has been a concern for consumers for years, and renters are no exception. In some states, new regulations may even require properties to meet certain efficiency standards. There are plenty of different ways to increase energy efficiency, whether you’re opting for more efficient appliances during a renovation or replacing in-person meetings with Zoom calls. One of the biggest ways property managers can be kinder to the environment is by choosing sustainable materials and supplies. For example, environmentally-friendly fertilizers and pesticides are a step in the right direction. Even more impactful, though, is eliminating them altogether by opting for things like on-demand pest control in place of frequent preventative sprays. Overall, sustainable decisions have a beneficial effect on residents, investors, and property managers. Residents receive lower energy and water bills from efficient appliances, investors see their property value increase, and property managers have happier residents who are more likely to renew their leases. Future-proof your property management business with Second Nature Keeping up with the latest property management industry trends is key to long-term success in the industry. Property managers are constantly striving to improve resident satisfaction (and therefore resident retention), a positive reputation, and a healthy profit margin. This year’s trends push all three in the right direction. If you want to deliver value for both residents and property owners, Second Nature’s Resident Benefits Package is the perfect solution. Request a demo today to learn more and see our benefits in action. Request a demo

Calendar icon May 20, 2025

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How to Write a Letter Notifying Your Tenant of the Sale of Property

Selling a rental property can be complex, especially when residents are involved. But there are plenty of ways to notify your resident of the sale in a clear, respectful, and legally compliant manner that also reduces their anxiety or concerns. In today’s blog, we’ll provide a practical walkthrough to help you draft this important letter, including: What a notice of sale of property letter is Rights of tenants when the property owner sells the property What the sale of property letter should include Sample letter to notify tenant of sale of property Note on language: Here at Second Nature, we prefer the term “resident” rather than “tenant,” as that emphasizes the human element over the transactional. In some legal and compliance situations, we'll also use the term "tenant". What is a notice of sale of property letter? A notice of sale of property letter is a formal communication informing a resident that the property they're renting is being sold. It outlines the upcoming changes that will occur, reassures tenants about their rights, and details how the sale will affect their tenancy. You might wonder if selling a rental property is even possible with tenants in place. Yes, it is. However, the process requires careful consideration of lease terms and local laws. If the resident is on a fixed-term lease, they often have the right to remain until the lease expires. If the lease is month-to-month, the new owner may have more flexibility. But in all cases, understanding and following legal guidelines is crucial as they may vary based on your location. Why you may want to sell a rental property Real estate investors might have a variety of reasons for selling a rental property. We’ll break down some of the most common scenarios below: Potential for significant financial return: In many cases, the property has appreciated significantly, and selling now could provide a substantial profit for the owner, who wants to capitalize as soon as possible. Eliminating property management responsibilities: Perhaps managing the property has become too time-consuming or challenging, so selling is the best option to free up time and energy. Freeing up capital for other investments: Maybe the owner is looking to reinvest in a different type of real estate, another location, or other markets entirely. Changing financial priorities: Financial needs, such as funding retirement or other investments, may be driving the decision. While selling a rental property has plenty of advantages, it also has its drawbacks. Here is a look at some disadvantages of selling a rental property: Loss of steady income: Monthly rent means money coming in at the same time every month. Removing that may mean finding and establishing another source of income. Potential legal challenges: Selling an occupied rental property may involve complex laws and regulations and logistics. If not handled properly, this could lead to complications down the line, including legal action from the tenant. Reputation: For professional property managers, reputation is everything. If the sales process isn't handled smoothly, it may sour the reputation with the resident, causing them to leave a negative review. Rights of tenants when the property owner sells the property Tenant rights must be respected when throughout the entire process of selling a property. Knowing these rights and planning accordingly can help you avoid legal trouble in the future. Please note that this guide does not constitute official legal advice, and it’s crucial to consult local laws or legal counsel for specific details. Some common laws and regulations you should be aware of include: Local laws for leased properties: Depending on your state or city, there may be detailed regulations about how to handle a rental property sale. For instance, some areas require the purchaser to honor the current lease terms and allow the resident to remain in the home. In certain states, tenants with month-to-month leases might need to be given a specific amount of notice before being asked to move out. Utilities and maintenance: As the owner, you must continue providing a habitable property by providing utilities like water and electricity until the tenant moves out. Property owners should not shut off utilities during the sale process. Additionally, if you plan to conduct maintenance or repairs, you will still need to notify the tenant as required by local laws. Property showings: Although giving notice for property showings isn’t always legally required, it’s good practice to inform residents well in advance. Most state laws require you to provide reasonable notice before entering the property, usually 24 to 48 hours, though this can vary. Make sure you refer to your state’s tenant laws before scheduling any showings. Security deposits: If the tenant moves out before the sale, their security deposit must be handled appropriately. In many cases, the deposit should be transferred to the new owner, who will hold it until the tenant vacates the property. In other cases, the security deposit may be returned, and the new owner will be responsible for collecting a new security deposit. Be sure to review your state’s laws to avoid any disputes over this process. As a point of accounting interest, note that on balance sheets, a refundable security deposit appears as a liability—the security deposit belongs to the tenant and must be transferred to the new owner to be held until the tenant moves out. What should the sale of property letter include? When notifying your resident of a property sale, the letter should cover several essential points. To help, we’ve put together a breakdown of what should be included. Basic information Start with your name or your property management company name, the date, the tenant name(s), and the property address. Include your contact information for any questions the tenant might have. We recommend addressing the letter to all residents who are listed on the lease. Details about the sale Inform the tenant that the property is being sold. Be transparent about the process, including whether the lease and deposit will transfer to the new owner. Let them know that the property will be going on the market, and that they may need to cooperate with upcoming property showings. Showing information Include information on how much notice you’ll provide before a property showing. If state laws require specific notice periods, cite them to reassure the resident that their rights are being respected. Clarify that any showings will be conducted by licensed real estate professionals, and be considerate of the resident's schedule. Responsibilities before the sale If the resident has any responsibilities, such as keeping the property tidy for showings, outline them in this section. You may want to consider offering a cleaning service to make it easy for the resident to keep the property in great condition. In all cases, be polite and professional, and make sure the resident understands what is expected of them. Incentives (if applicable) If you’re offering any incentives, such as paying for a hotel stay during showings, assisting with moving expenses, or providing a rent discount, mention them here. While not mandatory, these gestures can ease the transition for your resident and foster goodwill. Relocation support If you manage other properties, you may wish to let the resident know of any available openings, but this is completely optional and just a common courtesy you can provide to help ease the transition. Opportunity to purchase If your property management company offers any kind of home buying assistance, you may consider selling the property directly to the resident. If you're open to the possibility of selling to the resident, include that in your letter and let them know who they should contact for more details. This is especially valuable if your management company also operates a real estate brokerage and you're representing the seller in the sale. Thank you section Close the letter by thanking the tenant for their cooperation during this process. Acknowledge the inconvenience this may cause and express your appreciation for their help in making the process as smooth as possible. Letter to notify tenant of sale of property template Here’s a sample notice letter template you can use to inform your tenant of the sale. Feel free to customize to fit your needs: [Your Name/Property Management Company] [Date] [Tenant’s Name] [Property Address] Dear [Tenant’s Name], I hope this letter finds you well. I am writing to inform you that the property you are currently renting at [Property Address] is being put up for sale. This means there will be some changes in the near future, but I want to assure you that your rights as a tenant will be respected throughout this process. Your current lease will be transferred to the new owner, and all terms will remain in effect. You will be notified in advance of any showings, and we will work to make the process as smooth as possible for you. If you have any questions or concerns, please don’t hesitate to contact me directly at [Your Contact Information]. Thank you for your cooperation during this time. We appreciate your help in keeping the property presentable for potential buyers and making this transition as seamless as possible. Sincerely, [Your Name] Learn more: How to Write a Notice to Vacate Letter to Tenants [with free template]) Final thoughts Selling a rental property involves careful planning, especially when tenants are involved. A well-crafted letter can help ease the transition and ensure a smooth process for everyone. Remember to stay informed about your local laws and consult legal experts when necessary. If you're looking for ways to enhance the resident experience during this transition, consider improving tenant satisfaction with services like the Resident Benefits Package. Learn more about these packages from Second Nature today.

Calendar icon May 19, 2025

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Why Investor Education is my Go-to-Market Strategy

Investor education is a key part of being a property manager, but it often goes overlooked. But what exactly is investor education, how can it help you, your business, and the industry overall, and why have I chosen to make it the crux of my go-to-market strategy? In the property management world, people love to talk about SEO, lead gen tactics, and ad spend. That’s fine. But for me, none of that matters if I’m not helping my future clients get smarter about real estate investing. Luckily, when I help them become better investors, they become better clients and refer like crazy. That’s why investor education is the backbone of my go-to-market strategy—and has been for years. In this article I’ll cover just that, and give you tips on how to improve your investor education efforts. What is investor education? We can teach property owners what steps they need to take to be successful, what’s expected of them throughout the buy and hold process, and how we, as property managers, help them. The truth is, most rental property owners are used to being treated like landlords, not investors. It’s about helping rental property owners shift their mindset—from "landlord mode" to "long-term investor." Most owners have never had anyone sit down and explain how return on equity works, what market factors really impact rent, or why emotional decision-making can ruin a portfolio. I believe that if we want better outcomes for investors and property managers, we need to close that knowledge gap. As educators, we should be teaching them the ins and outs of the business beyond just rent collection. An educated client makes better decisions, respects the process, and is ultimately more profitable—for everyone. Your company’s process is part of the education Investor education content doesn’t only focus on how to be a good investor. It should also include your specific requirements, expectations, and abilities as a property manager. When an investor is engaging with your content, looking for information, they are starting to know, like and trust you. It is natural they will want to know more about your company and how you do things. At the top of the funnel, when an investor is just beginning to look for a manager, that’s your time to teach them the benefit of hiring a professional. Then, as they engage with you more, educate them on what you, specifically, can do to help them. What are the services that you provide? How is what you do different from what they’ll get with other property management companies? This should also include your philosophy on management and how you think about things differently. It’s an opportunity to bring a fresh perspective. Finally, you should teach them about what they’re going to have to do in order to be successful with you. That can include everything from access expectations to financial requirements, but it should also focus on trust, communications, and service level. What kinds of things will you require complete control over? How often do you expect your clients to check in with you? Who would their point of contact be? Educating potential clients on these things will save you a lot of time and pain down the road. Education takes many forms The sky is the limit when it comes to options for educating investors. Social media posts, blogs, videos, podcasts, and webinars are some of the most popular. Building momentum with a podcast or live meetup group can take some time, but it can pay dividends in the long run because you are creating more than content. You’re building a relationship with investors and a community for them to learn in. When you’re generous with valuable education, you might find you get access to spaces and people that haven’t been open to you before. Videos, blogs and social media are great because they’re evergreen. They stay up forever, and are working when you aren’t. A prospect can watch five of your videos at 3:00 AM, and by the time you speak to them the next day, they are ready to sign! Think of all the ways you like to learn and keep up to date with the industry. Those are all the same channels you can use to reach more investors and begin educating them. Why I chose to invest in investor education I’m no longer running any pay-per-click ads, search ads, or display ads for my property management company. I’ve funneled all of my sales and marketing budget into Hold It with PM Jen, a series of educational materials that help investors grow, while also positioning me as the leader in the buy and hold space. I run live events, host a podcast, seek out speaking engagements, and provide a complete playbook for investors for my market. This was a very deliberate choice, even though it felt like a risk at first. Over time, it’s proven incredibly effective, and it’s helped me get very specific about my niche. I’m able to cater specifically to investors in North Central Pennsylvania who want to buy and hold real estate, not make money from flips or quick sales. My educational content helps me differentiate from other property managers in the area. That differentiation also comes from the specific topics I write and speak about, and trying to shift the focus from “what can I do for you?” to “what are the challenges you’re facing?” I think there’s a fundamental misalignment between the things property managers are writing about and the things property owners are looking for. Investors aren’t Google searching for the ins and outs of professional management. Instead they’re searching things like “how do I make more money from my rental property,” “how much can I charge for a security deposit,” and “what do I do when a tenant says there’s mold?” These are the types of education that investors are looking for, so I want to be there to provide it. Not only does this build credibility, it pre-qualifies prospects. When they reach out, they already know how we work, what we expect, and—most importantly—why we do what we do. It’s a smoother path to a better fit. A rising tide lifts all ships There’s one other reason that I think investor education is so important, and that’s that I firmly believe it just makes the industry better. They say that a rising tide lifts all boats, and if I want to think of myself as a leader in property management, I need to be doing work that pushes the whole industry forward, not just my own business. I believe that education is one of the best ways to do that. Sometimes, when I meet a potential client, it’s immediately clear to me that we aren’t a great fit for each other. You can’t always work with a client, because it’s not what’s best for your company or your team. But even when I know they’re not someone I’m going to work with, I still want to help them. In those cases, I try to point them in the right direction. I’ll give them a framework to improve the property, suggest vendors, or even refer them to someone who’s a better fit. Because if they grow into a better investor, we all win. I want that person to keep searching and to find another property manager that they can be successful with. You can’t always work with a client, because it’s not what’s best for your company or your team. But you can still educate them and help them develop as an investor. Final thoughts Whether you’re running a big shop or just getting started, education is one of the most powerful tools you have. It creates better clients, smoother operations, and deeper trust. If you want to stand out in a crowded market, stop shouting about what you do and start teaching people how to do it better. That’s the future of property management, and it’s where I’m putting my focus. Want to learn more about how I approach educating and onboarding clients? Register for my webinar with Second Nature and Blanket. Register Now

Calendar icon May 15, 2025

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Single family home

How to Write a Friendly Rent Increase Letter + Free Template

They're every resident's least favorite thing: rent increases. But for property managers, increasing rent is a necessary part of your fiduciary duty to investors. When it comes time to implement a rent increase, it's important to communicate with your residents clearly and professionally. The goal is to minimize conflict and prevent any unwanted surprises. Writing a rent increase letter is a critical first step in this process. By clearly communicating the reasons behind the rent increase, such as inflation and increased operational costs, you can help your residents understand the rationale behind your decision. A note on language: Here at Second Nature, we prefer to use the terms "resident" and “residency” rather than “tenant” and “tenancy,” to emphasize the human element of property management work. However, there may be instances where terms such as "tenant" are used for legal or industry-standard purposes within documents or communications. In these cases, please know that our intent remains the same – to provide clear, accurate, and meaningful information to all people involved in the business relationship. When should you increase the rent? You should be considering rent increases periodically to keep up with the rising costs associated with property maintenance and management. Specifically, inflation drives up the costs of utilities, repairs, labor, and general upkeep, making it essential to adjust rents to cover these expenses. Other rising expenses include property taxes, insurance costs, and even the costs of improvements—all contributing to the need for rent increases. By aligning rent adjustments with these economic factors, property managers can ensure the financial sustainability of their properties while continuing to provide quality living conditions for their tenants. What to consider when increasing the rent There are several factors to consider to ensure fairness and transparency during a rent increase. These considerations will not only help in setting a rent increase amount that's justified, but also in maintaining a positive relationship with residents. Rent competition Understanding the rental market's competition is crucial. Evaluate the current market rates for similar properties in your area – this will help in setting a competitive yet reasonable rent increase that aligns with local conditions. Lease term Consider the length of the lease term currently in place. Typically, longer lease terms might warrant smaller, more gradual increases to retain residents, while shorter terms may allow for more frequent adjustments based on market trends. Changes to property value An increase in property value can often justify a rent increase. This should reflect market conditions, the property's value, and any improvements that have been made during the lease term. Transparency about how this amount is calculated can help mitigate resident concerns. Additional property costs Make sure you're also considering any increases to other property costs. For example, if the property is a condominium or is in a home owner's association, factor in any special assessments or increases to dues. State notice period requirement Each state has specific legal requirements for notice periods before a rent increase can take effect. Ensure that you comply with these regulations to avoid legal issues and give residents enough time to plan for the change. Security deposit Review the impact of the rent increase on the security deposit. In some states, the security deposit may need to be adjusted in accordance with the new rent amount. Ensure that any changes are clearly communicated and legally compliant. Reasons to send a rent increase letter Sending a rent increase letter is a necessary step in maintaining transparent and professional relationships with residents. Here’s why they're essential: Legal compliance Some states and localities may have specific requirements dictating how a rent increase is communicated. A rent increase letter can help you stay compliant with notice periods and documentation. It serves as an official record of the change and helps protect against potential disputes. Clarity and transparency Providing a written notice offers clarity to residents about the new rent amount, the effective date of the increase, and the reasons behind it. This transparency helps maintain trust and minimize misunderstandings. Communication is one of the top factors in resident retention, so make sure you're putting in time to make things clear. Professionalism A formal rent increase letter reflects a professional approach to property management. A well-written letter will come across as intentional, well thought out, and respectful, rather than making residents feel like you're just making decisions on the spot or without solid reasoning. Record keeping Documenting rent increases helps maintain accurate records for your team, the investor, and the resident. This can be crucial for future reference, additional lease renewals, or if any legal issues arise. By considering the factors that go into the rent increase and clearly communicating the reasons, property managers can ensure a smoother transition and foster a positive relationship with their residents. What should a rent increase letter include? Here's what should be included in a rent increase letter to ensure your residents have all the information they need: 1. Friendly tone Use a warm and polite greeting while also keeping things professional. Express appreciation for the resident's tenancy, and highlight any specific areas where they've gone above and beyond. Regardless of any past tension, make sure to keep a respectful tone throughout. 2. Resident information Include the names of all residents on the lease, even if you primarily communicate with only one resident. Include the address of the property. Mention the end date of their current lease agreement. 3. Clear announcement of rent increase State the effective date of the rent increase. Clearly outline the new monthly rent amount. If applicable, mention any changes to additional fees like utilities, parking, or pet rent. Include any information on how the rent increase will impact the security deposit, if applicable. 4. Justification for the increase Highlight the specific reason or reasons for the rent increase. This could include rising property taxes, increased maintenance costs, market value adjustments based on comparable rentals, or significant property improvements you've made. Be specific and provide data or evidence to support your claims whenever possible. For example, mention the percentage increase in real estate property taxes or highlight the specific property improvements that are enhancing the resident's living experience. 5. Consequences of nonpayment Clearly explain the consequences if the new rent amount is not paid by the specified date. You can cite the terms of the lease agreement to reinforce these consequences. Remind the resident of the potential late fees or penalties that may apply. Describe the steps that will be taken if non-payment persists, such as the issuance of a notice to vacate or potential eviction proceedings. Emphasize the importance of timely communication from the residents if they foresee difficulties in making the payment, and encourage them to discuss potential solutions or payment plans. 6. Next steps for the resident Be clear about whether the resident needs to take any action in response to the change. For example, if they have automatic payments set up through their resident portal, be clear about whether they'll need to adjust the payment amount, or whether your property accounting software will automatically draw the new amount moving forward. Briefly remind residents of their right to review their new lease agreement. Express your willingness to answer any questions they may have regarding the rent increase. Clearly state your contact information (phone number and email address) for easy communication. Sample rent increase letter template Below is a template you can use for your rent increase letter. Simply customize it with your specific information. [Your Property Name and Contact Information] [Date] [Resident names] [Address of rental property] RE: Rent increase effective [effective date] Dear [Resident names], Thank you for continuing to rent with us. This letter is to inform you of an upcoming rent increase for [property address], effective [effective date]. Your current monthly rent of [current rent amount] will be adjusted to [new rent amount]. Additionally, [mention any changes to additional fees, e.g., "the monthly pet fee will increase to $XX"]. We understand rent increases can be disruptive, and we want to be transparent about the reasons behind this adjustment. The increase is necessary due to [list specific reasons for the increase, e.g., "rising rental rates for comparable units… ," or “neighborhood revitalization resulting in enhanced value…”]. [If applicable, provide data or evidence to support your claims]. We value you as a resident and appreciate our relationship. You have the right to review your lease agreement if you have any questions about its terms. We are also happy to answer any questions you may have regarding this rent increase. Please feel free to contact us at [phone number] or [email address]. Sincerely, [Your name and the name of your property management company] For example, our rent increase template looks like this: How to send a rent increase letter There are multiple things to consider when choosing how, logistically, to deliver a rent increase letter. You want to keep the process as simple as possible, but you also may need verifiable proof of the notification in case of any future disputes. First and foremost, you’ll need to consider local regulations. We highly recommend consulting with a lawyer specializing in landlord-tenant law to determine the mandated method for delivering rent increase notices. Some states or municipalities may require certified mail or another verifiable method (e.g., signed delivery receipts). Don't skip this step; non-compliance with local regulations can lead to legal issues down the line. Delivery method options Certified mail: This is generally the safest option. Certified mail provides a receipt confirming the letter's delivery and the date it was received. This documentation can be crucial in the event that there's a future dispute or legal proceeding. While certified mail is slightly more expensive than regular mail, the added security it offers can be worth the cost. Regular mail with signed delivery receipt: This option offers some level of proof of delivery but may be less secure than certified mail. While unlikely, residents can potentially refuse to sign for the receipt, leaving you with more work to do to make sure they're informed. Hand delivery: If feasible, handing the rent increase letter to the resident in person and obtaining a signed receipt is the most secure method. This is more challenging for scattered site properties. Note that while some residents might appreciate the convenience of email, it isn't always the most reliable notification method. Consider your residents' demographics and preferred communication channels when selecting your delivery method. Regardless of what you choose, the original lease agreement you have with your residents should explicitly state acceptable methods for delivering important notice letters, including rent increases. Make sure you're adhering to the guidelines set out in the lease. A note on property accounting software Property accounting software can be useful for maintaining a centralized repository of all your communications with residents, including rent increase letters. It's also a useful tool for furnishing clear audit trails and documentation in case of disputes. Make sure that the terms outlined in your rent increase letter are accurately reflected in your property management software to prevent any accounting mishaps. Rent increase FAQs Q: How many days’ notice of rent increase do residents need to be given? A: The required notice period for a rental increase can vary depending on your location and the terms of your lease agreement. In general, most states require that residents be given 30 to 60 days' written notice before a rent increase takes effect, though this can vary for year-to-year lease renewals vs. month-to-month. It's important to check local rent control regulations for specific details on timeframes, and consult with a local attorney if necessary. Q: Can the rent increase be contested? A: Depending on your location and specific circumstances, residents may have the right to contest a rent increase. For example, rent control laws in some jurisdictions allow residents to challenge rent hikes that are deemed to be excessive. It's best to obtain legal advice from a lawyer specializing in applicable local laws and state laws to understand your options. Final thoughts Prioritize clear communication and transparency, and you’ll find you can navigate rent increases effectively while maintaining a healthy and positive relationship with your residents. Every interaction you have with a resident shapes the way they think and feel about you. The way you communicate a rent increase can make all the difference in your renewal rate and resident satisfaction. It’s also the perfect opportunity to introduce a Resident Benefits Package (RBP) and remind residents of your role in adding value to their living situation. Learn more about the benefits of Second Nature’s fully managed RBP.

Calendar icon May 14, 2025

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How Many Properties Can One Person Manage?

Success in property management requires a balance of internal resources and capacity. If you hire more people so you can scale up, you might not be profitable until you find new investors. But if you postpone hiring and overload your team, relationships with residents and investors may suffer. So, how many properties can one person manage? The answer might be different for every property management company. A property manager who has little support might be at capacity with 30 doors, but with the right resources, that same PM could comfortably manage 100+ doors. This post explains how property management companies can use resources that create more capacity for property managers, eliminate time-consuming tasks, and reduce resident turnover. Time-consuming tasks for property managers Property management teams handle a wide variety of tasks, some of which can be an administrative burden. These are some of the responsibilities that can make it difficult for PMs to manage more doors: Renters insurance management Managing renters insurance is so complicated that some property management companies hire an employee just to handle that one task. If you’re only managing a few properties, you might be able to stay on top of renters insurance tasks, but as a portfolio grows, most PMs have to spend more and more time managing insurance policies and tracking compliance instead of creating value for residents. Pest control Pest control is time-consuming for a few reasons: PMs might have to schedule and arrange preventive spraying and give residents advance notice. Pest complaints can happen 24/7, leaving property managers scrambling at odd hours to find an available exterminator. Some leases require residents to be responsible for pest control after the first month of their tenancy, but because of cost concerns, they might not call an exterminator at the first sign of a pest. Any delay in pest control raises the risk of a widespread infestation, which can create serious problems for property management companies, including board of health violations and property loss. It can also have a tremendous impact on the value of the property, putting investors at risk. HVAC maintenance and repairs A functioning heating and cooling system is essential for retaining residents, and often required by law, so PMs need to be proactive about maintenance. Unless PMs know the market well, they may spend considerable time searching for and vetting HVAC companies to find the best partner for their residents. When you have properties in several cities or states, finding an HVAC company that serves the particular property takes even more time. New resident communication New residents may have a lot of questions for property managers about what utilities they need, who the providers are, and how to schedule setup. Some property management companies don’t have a process for this type of communication and exchange messages with residents via text or email, which isn’t efficient or scalable. 4 time-saving resources for property managers In order for a single property manager to handle more doors effectively, they need tools in their belt to help save time and increase efficiency. Here are four resources that create more bandwidth for property managers: 1. Managed renters insurance program Outsourcing the management of renters insurance is one of the easiest ways to create more capacity for property managers. As part of a comprehensive Resident Benefits Package (RBP), Second Nature offers a renters insurance program that guarantees 100% renters insurance compliance for the full lease term. Second Nature also handles all renters insurance-related admin tasks and compliance monitoring. 2. Air filter delivery Minimize maintenance requests and HVAC failures with Second Nature’s air filter delivery service. Filters arrive at resident homes on schedule, with simple instructions for installation. Changing the air filters regularly can slash resident energy bills by $177 per year and reduce HVAC maintenance requests by 38%. 3. On-demand pest control With Second Nature on-demand pest control, property management companies don’t need to schedule costly preventive sprays or handle requests for pest control. Residents can report pests directly to Second Nature’s pest control partner to connect with a professional exterminator quickly. Services cover common pests, like fleas, cockroaches, and mice, as well as pests specific to a property’s geographic location. And because there’s no cost to the resident at point of service, they won’t hesitate to act quickly if an issue arises. 4. Move-in concierge Second Nature’s move-in concierge service connects residents with utility providers—residents just need to make a single phone call to the Second Nature team to kick off the process. This service creates a simple move-in process, makes a great first impression with residents, and eliminates utility questions for property managers. The true ROI of a resident benefits package Second Nature’s RBP doesn’t just save time for property managers — it also improves the resident experience, with perks like: Group rate internet — Second Nature’s internet program for single-family homes includes 24/7 support, zero setup fees, and lower monthly rates. Credit building services — Timely rent payments should have a positive impact on residents’ credit, but property managers don’t have time for credit bureau reporting. Second Nature reports on-time rent payments to all three major credit bureaus, helping residents build credit and motivating them to pay on time. Identity protection — Second Nature offers $1 million in identity protection coverage for every resident, as well as dark web monitoring to stop potential threats. If a resident becomes the victim of identity theft, Second Nature’s coverage ensures they can pay their rent and get help from a professional restoration specialist. Resident rewards — The customizable Resident Rewards program lets residents earn points for behaviors like on-time payments, writing a review, or renewing their lease in advance, and points can be applied to product purchases or gift cards. Improving the resident experience reduces churn, which means property managers spend less time trying to fill vacancies. Property management companies charge residents a modest monthly fee to cover the RBP, and the perks Second Nature offers are well worth the cost. See how Second Nature helps property management companies scale. Contact us today for a demo!

Calendar icon May 13, 2025

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How to Roll Out your Mission, Vision, and Values Internally

Your mission, vision, and values are incredibly important to building a great company culture and an effective go-to-market strategy. When done well, they should shape every decision you make, from hiring team members, to taking on new clients, to implementing management policies. But once you’ve taken the time to develop your core values, how do you actually get your team onboard with it all? How do you take it from page to practice? In this article, I’ll give you my recommendations for how to roll out those ideas internally, why you need a firm line in the sand date, and why getting buy-in from your team is so essential. Getting everyone on board A new company mission, or a redeveloped vision can all be jarring for your team. In a lot of ways, you’re telling them, “hey, we’re going to be a different company moving forward.” That can be tough for people to get used to, especially those who have been around for a while. Existing employees The people who already work for you usually need the most help adjusting to a change in mission. For one thing, they may already feel like they have their own sense of mission at your company, even though it might not be one that’s explicitly stated. There’s a reason they continue working for you, so the idea of a big change might scare them. Second, they’re fully accustomed to operating without the new mission, vision, and core values. It’s a bit like having family dinner every week where no one in your family is a hugger. And then suddenly someone brings a new guest who hugs everyone they meet. It can really throw people off. In the same way, existing employees are going to be the least comfortable with change. New employees and future hires It’s much easier to get new hires onboard with change, simply because they don’t know anything else. The key, though, is to make sure you’re incorporating your new mission and vision into the hiring process. Not only will it help you pick employees who fit the new approach, but it will also ensure that you’re giving them a consistent experience. The way you treat them during the interview and hiring process needs to be consistent with how you treat them once they’re hired. Drawing a line in the sand One of the most important pieces of advice I can give is to decide on a firm date where your new mission and vision take effect, and then stick to it. You basically want to create a bookmark, at which point you said, “from this point forward, this is how we make decisions.” How you mark that date is up to you. You can take the opportunity to roll out a new project, you can incorporate it into branding changes like a new logo or slogan, or you can give out coffee mugs or t-shirts with the new branding. Whatever you do, you want to mark the change. Make sure that you’re communicating it to the whole company at once, rather than letting it trickle out bit by bit. That helps make sure everyone is on the same page and has a complete understanding of what’s happening. And keep in mind, even company leadership isn’t used to doing this kind of thing, so it’s helpful for you, too! Get the team involved As you’re preparing this rollout, you don’t want to overplan. Instead, you want to leave room to get the rest of the team involved. People support what they help create, so make sure they have the chance to do that. I think about it this way: the leader creates the mission and vision, which are basically the bones of the operation. But everyone else can participate in fleshing it out by shaping the core values. If you come with a full set of core values already fully developed, you run the risk of coming across as too much of a dictator. You want to tell your team, “As of today, we’re going to be a different company, and let’s figure out what that looks like together.” You want to get people excited about what you’re doing, and giving them the opportunity to participate is the best way to get buy-in. Repetition, repetition, repetition The single best way to help your team truly understand your new mission, vision, and core values is simply repetition. You need to be saying, showing, and living your core values at every turn. Reinforcement in meetings As I’ve said before, meetings are a perfect time to highlight core values in action. There are three different categories of shout-outs I like to include in weekly team meetings: Recognize when other team members are operating by core values: You want to acknowledge your teammates when they’re doing things right. Give praise where it’s due, which will help inspire others to follow along the same path. Call out when the organization is not operating in alignment: It’s equally important to recognize when things aren’t following your core values, but you don’t want to call out individuals and tell them they’re doing a bad job. Instead, frame it as an organizational problem and brainstorm ways to make improvements with the team. Celebrate corrections that move you into alignment with them: When you make adjustments that put you in better alignment with your core values, that’s worth celebrating. It shows the team what progress looks like, and it’s a positive way to follow the conversation on where the organization is struggling. Keep in mind, it can be awkward to ask people to brag about themselves. It takes some getting used to for a lot of team members, but you need to stand by it. Start by having someone read off the mission or core values to start the conversation, and go from there. If you keep repeating the process, eventually it will catch on. Teach by example As with most things, your team can’t just read a plan on paper and know exactly how to put it into action. Instead, they need to see it play out so they know what it looks like. Adopting new core values is a bit like learning a new language; the best way to do it is via immersion. That means that, as a leader, you need to constantly be showing what it means to act based on core values, and then you need to be highlighting those behaviors in others. I’ve seen property managers announce new core values, put a poster on the wall of their office, and then do nothing else to reinforce them. Then, four or six months later, they scold an employee for doing something that’s not in alignment with those core values. But of course they’re not acting by core values: they’ve never seen what that looks like. They’ve never been immersed in it. It’s never been reinforced. Remember, it’s up to the business owner and leadership to overcommunicate these changes and the expectations that come with them. Dealing with dissent Sometimes, no matter how much you reinforce the changes and celebrate the wins, you’ll have an employee who just isn’t bought in. That can create a pretty uncomfortable situation, not just for you, but for the whole team. Remember, the loyalty of a leader should be to the overall team and company, not individual members of the team. If someone is harming the overall team culture, you have to do something about it. Of course, a lot of times, the people who aren’t going to buy in will realize it themselves. They’ll start looking for a new place to work that might be a better fit for them. That’s not always a bad thing; it can be positive for all parties. But you want to be able to say that you did everything you could to help them adjust and stay on as a productive, happy member of your team. No matter what you do, your team is probably never going to be as bought in as you are, because you’re the business owner. But that’s why you need to constantly evaluate everything you do through the lens of your mission, vision, and values. Final thoughts It might seem like rolling out a new set of core values will be challenging, but in reality it’s a fabulous opportunity to energize your team. It gives people a common mission to work towards and a better understanding of the work they do. Make sure that you’re giving insight into the why behind all of it so that people get excited about it. I truly believe that people want to be part of something great. They want to feel a sense of purpose, productivity, and connection. The more time we spend on our devices, isolating ourselves from others, the less we have that connection. So give them that opportunity, build a strong, connected team, and give them something clear to work toward. Interested in learning more about building your company’s core values? Check out this webinar with my good friend Mark Brower. Watch now

Calendar icon May 8, 2025

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AI for Property Management: Benefits and Top Tools

AI is one of the hottest topics of the past year, especially in property management. Property managers all over the country are trying to get up to speed on what it is, how to use it, and why. So what is AI for property management, and how valuable is it, really? AI is best positioned to help property managers by supporting and automating a lot of administrative or repetitive tasks. It’s also a great resource for helping to analyze and understand performance metrics and to gain insights from data. More and more software and service companies are building AI into their solutions, helping users to leverage AI more effectively than ever before. Think about tasks like screening residents, coordinating maintenance, and communicating out key messages about rent collection, due dates, and policies. All of these can be assisted by AI, leaving you to spend more time on strategic efforts. Keep in mind, AI is not here to replace property managers, it’s just here to make them more efficient. In this post, we’ll explain the benefits and opportunities that PMs can see with AI, along with some of the best AI tools for property management. Benefits of AI for property management AI does a lot of things, so sometimes it can be difficult to figure out what specifically you should be using it for. For property managers, there are plenty of practical use cases, from marketing and lead generation to scheduling and compliance. Task automation Artificial intelligence is very good at automating routine or repetitive tasks. Think about invoice processing, maintenance scheduling, showings coordination, inspections, and more. AI can take on a lot of these tasks, giving you more capacity to dive into strategic planning. It can also help with more complicated tasks like compliance monitoring and fraud detection. Not only is that one less task you have to handle, but it also helps ensure financial security. Better communication AI tools can also enhance the way that you communicate with residents and clients. You can use it to help understand maintenance requests, automate follow-up communications and satisfaction surveys, and schedule repairs. All of this helps build a better resident experience, which can increase lease renewals and decrease vacancies. Faster screening AI is great for automating background checks, credit evaluations, and rental history analysis, and some of the leading tools in the industry are able to analyze applicant data to predict lease default risk. All of this helps to ensure that property managers select reliable tenants more efficiently. Predictive maintenance Predictive AI is also particularly useful for things like preventative maintenance and estimating future maintenance costs. For example, when combined with internet-connected hardware, some AI tools can assess property conditions and flag upcoming maintenance issues before they occur. Whether you’re trying to predict plumbing failures or minimize HVAC repairs, AI can help. Targeted marketing Marketing is one of the most prominent areas where companies are leveraging AI. Modern tools can help write property descriptions, build websites, and syndicate listings to get more applicants faster. Review management AI can also help solicit and respond to customer reviews. By analyzing resident satisfaction, artificial intelligence tools can pinpoint the best moments to automatically ask for reviews. Plus, newer tools can also craft responses to reviews based on the content and sentiment, making sure every review is followed up on. 8 Best AI tools for property management There are hundreds, if not thousands, of AI tools available that property managers can evaluate. To simplify things, we’ve collected eight of our favorites here to give you a sense of what’s available. Feel free to browse this list, do your own research, and see what fits best for your company and your workflow. 1. TenantCloud Best for: Applicant screening TenantCloud has a fully-featured, robust resident screening tool that goes beyond a simple credit report. In fact, with a proprietary algorithm, TenantCloud can actually predict the risk of an applicant defaulting on their lease or causing other problems. Fully compliant with the Fair Credit Reporting Act, TenantCloud offers multiple ways to view report data, while also validating applicant identity and running a full background check. While TenantCloud offers a full suite of tools, applicant screening stands out from the rest. Key features: Flexible reporting options based on your specific needs Identity validation, income verification, credit check, and background checks Optional County Criminal Records Search for deeper research Flexible pricing based on company size and door count Lease default risk analysis 2. AppFolio Realm-X Best for: Automated communications Our partner AppFolio is widely known as one of the largest property management software providers on the market. With Realm-X, AppFolio has entered the AI space to help property managers save time on manual tasks. In particular, Realm-X thrives when tasked with communications to residents. With a single prompt, property managers can generate comprehensive, customized emails to residents based on specific criteria like lease term, date of renewal, or rent price. The tool also helps automate maintenance scheduling, application review, and lease renewals. Key features: Embedded into AppFolio natively Reimagined inbox to prioritize and respond to key messages Detailed workflow automation Natural language chatbot Communication generation 3. EliseAI Best for: Leasing management EliseAI is designed to automate the mundane parts of the leasing cycle so that you can fill your units with highly qualified, satisfied residents. With a built-in customer relationship management tool, Elise organizes all of your resident data, reports, and workflows. Elise offers integrated tour scheduling, a chatbot to handle inbound requests, and the ability to automatically recommend units to specific applicants based on square footage, number of bedrooms, budget, amenities, outdoor space, and more. It serves as a comprehensive prospect management tool, superpowered by AI. Key features: Automatic responses to inbound leads Smart tour scheduling Personalized unit recommendations based on size, budget, amenities, and more 24/7 customer support for your residents and applicants Built in CRM Data center with robust reporting 4. RealPage AI Screening Best for: Applicant screening RealPage AI Screening is designed to move beyond just measuring an applicant’s ability to pay, and instead look at their willingness to pay. With comprehensive AI integration, RealPage reaches a deeper level of screening and understanding applicants. RealPage’s solution promises to reduce bad debt, delinquencies, and evictions using powerful proprietary data. Key features: Integrates with any property management software platform Leverages RealPage history of over 30 million lease outcomes Predictive scoring model for applicants Risk Advisory Services to optimize risk threshold Criminal and financial history checks 5. Showdigs Best for: Leasing management Showdigs aims to take the manual and repetitive parts of the leasing process off your team’s plate. The tool is focused on the applicant experience, offering real-time automated communications and a chatbot to answer applicant questions. All of this is personalized to the individual, helping to increase conversion rates to residents. Showdigs also puts a heavy emphasis on security and fraud prevention. With AI-driven facial recognition, age verification, and ID verification, the tool weeds out scam applications so you can focus on the individuals who actually want to rent from you. All of this is backed by a U.S.-based call center for support when your team has a question. Key features: Personalized search process for residents 24/7 automated communications to keep leads warm Advanced security measures and scam prevention ID check and facial recognition to verify identity U.S.-based on-demand call center for support 6. Happy Property: Maintenance Best for: Maintenance coordination and inspections HappyCo has been a well known name in the property management space for nearly a decade, particularly for their intuitive inspection tools. Now, in the AI era, they’ve taken their offering to the next level. Their maintenance and inspection tool automatically schedules inspections, routine maintenance, and preventative repairs. HappyCo is also mobile-first, allowing your team members in the field to see everything they need. Happy Property: Maintenance also offers automatic work order generation, using AI to pull all the necessary details from a maintenance request and pass it on to your vendor of choice. With automated scheduling, it’s one less thing your team has to worry about. Key features: Customizable inspection and maintenance templates 24/7 support for residents Automatic inspection and maintenance scheduling Integration with popular property accounting software Digital make-ready board to expedite turns Comprehensive reporting and document management Automated scheduling 7. Convin Best for: Customer and resident support There are plenty of AI tools out there that aren’t specifically designed for property managers, but are still valuable nonetheless. Convin is one of them. Convin is designed to increase customer retention through real-time guidance on live phone calls. Convin integrates with your phone support system to offer support agents real-time insights on customer behavior, needs, and challenges. The result is a better informed support team, happier customers, and higher customer retention. If your company is small and doesn’t have a dedicated support team, Convin can still help with inbound calls to your main business line. Key features: Real-time customer insights Customer audits for behavior and compliance Immediate prompts to answer complex customer questions Built-in agent training for new support agents Relevant knowledge base information to help solve customer challenges 8. SOCi Genius Reviews Best for: Review management SOCi Genius Reviews is an artificial intelligence-powered tool for responding to customer reviews, both good and bad. Reputation management is key for property managers, but can sometimes take up a disproportionate amount of time. SOCi is here to fix that. SOCi is designed to respond to reviews by reading tone and sentiment, then replying appropriately in your own brand voice. Each review response is personalized, on-brand, and contextual. It also offers reports to spot trends in customer feedback so that you can make changes to your business in order to delight more customers. Key features: Brand voice training to make sure all replies are on-brand Integrates with multiple review sites to spot all reviews Personalized responses to generate maximum engagement Emerging trend reports Automatic or personally selected responses Simplify property management with Second Nature Artificial intelligence can help property managers focus on the things that matter. If you want to save time, boost revenue, and create happier residents and clients, Second Nature’s Resident Benefits Package can help. With everything from Group Rate Internet to on-demand pest control and a move-in concierge, the RBP helps maximize the resident experience while minimizing the work your team spends on manual tasks. See Second Nature in action: request a demo today.

Calendar icon May 6, 2025

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9 Marketing Ideas to Unlock Growth for Your Property Management Company

Like small business owners everywhere, broker/owners face the constant challenge of marketing their companies. In the era of AI, big data, and digital marketing, it can be tough to keep up with the latest trends and technologies. Effective property management marketing will leverage today's digital tools, but not at the expense of the human touch that's essential to the industry. A property management marketing plan should include a clear strategy, multiple channels, and measurable, achievable goals for growing your portfolio. In this article, we'll dive into the process of constructing a strong marketing strategy for your property management company, and cover nine of the top marketing ideas for property management. We’re joined by Rodney Hays of Geekly Media, a marketing consultancy built for the real estate industry. How to market a property management company Marketing is a wide-ranging field, so in order to help you focus your efforts, we've identified nine property management marketing ideas to help you grow your PMC. We know margins can be tight, so we've prioritized tactics that are cost-effective and have high return on investment. 1. Get disciplined about content marketing Some of the most successful property management leaders have built their go-to-market strategies on content marketing. Content marketing is media creation (think videos, podcasts, articles, social media) designed to inform rather than to persuade. A good content marketing strategy is designed to meet potential clients where they are, and answer the questions they're asking. This includes platforms like Facebook, LinkedIn, and Google, where investors and potential investors consume real estate investment content. The goal of content marketing is to provide value to your target audience, giving them useful information and gradually building their trust. Ultimately, good content establishes your company as a subject matter expert. So, what kind of content is useful in property management marketing? Start by thinking about the kinds of questions your audience is asking. Here’s what Rodney Hays has to say: “[Real estate investors] are going to ask questions about lease agreements and tenant screening. They’re going to ask questions about evictions, emotional support animals, those types of questions are always going to come up." For more on content marketing, listen to this episode of the Triple Win Property Management Podcast, where Pablo Gonzalez outlines community building and organic marketing. 2. Invest in SEO to build organic traffic Search engine optimization (SEO) is the process of optimizing a website for search engines and their users, so that your website ranks highly in search results and increases organic visibility. It helps extend your online presence. Search engines—most notably Google—are still the first place most people go to find information or answers. Content hosted on your website that addresses the most common questions your target audience is asking can position you well on the search engine results page (SERP), leading to increased website traffic. So how do you find out what topics to build content around? SEO tools, such as Semrush and Ahrefs, have an incredible database of keywords and common search terms, along with insights like how much search volume there is, how much competition exists in the rankings, and how often searchers click into various results. These types of tools can even show you what types of questions searchers typically ask. User questions can be great topic ideas for new content on your website that can drive relevant traffic. There are countless blogs and agencies that offer best practices for SEO, but when you're just getting started, our biggest piece of advice is this: write genuine content in your own voice. Don't try to trick search engines into ranking your content higher, and definitely don't plagiarize from other websites. Google is smarter than you think, and if they suspect you're trying to game the system, they'll punish your website. 3. Build a content distribution strategy Once you’ve developed content that speaks to your intended audience, what happens next? The next step to build a high-quality content distribution strategy. In others words, figure out how to get your messaging in front of your target audience. While a lot of people will find it organically, you should always be doing more to make sure it reaches them. A distribution strategy involves assessing where your primary audience is on a daily basis. Social media platforms, email, direct mail (aka "snail mail"), podcasts, regional conferences, and local ad listings are all examples of distribution channels. Start by identifying what pieces of content best match each platform. For example, a longer form piece should be linked via social media with a catchy blurb or graphic to hook your readers. Short form content can be its own social post with no link needed. You can send regular newsletters or other email campaigns to share your content, too. A few of the best ideas for distributing your content: Share on social media: Twitter, Facebook, Instagram, LinkedIn, TikTok Link to and reach out to real estate professionals and bloggers Ask to share guest posts on sites related to property management or real estate Connect with industry podcasters and apply to be a guest on their show 4. Create an email list Email marketing is one of the most effective ways to reach your target audience and nurture leads. A carefully crafted email can increase sales and your bottom line. With all that said, it can be tough to get email marketing just right. According to MailChimp, the average open rate for property management emails is just under 20% and the click-through rate is less than 2%. Not great, we know. That’s why building the right email list can make all the difference. Creating a targeted email list requires a good amount of research, knowledge of your target market, and email marketing tools like Hubspot, ZoomInfo, or Klaviyo. 5. Build and execute a social media marketing strategy Social media is something of an art and a science. Your social media strategy should include connecting and communicating with important accounts in your area and industry. Think of it like digital networking. The goal is to gradually interact with, build trust with, and provide value to likeminded people. For every piece of content or event you plan, you need to map out how you will share it on social media. Rodney Hays of Geekly recommends sharing new content and industry news updates across social channels whenever they’re updated. “Our customers will put their industry news page out there; they'll pull in like 15 or 16 new articles every month. And then, out of those 15 or 16, we will take eight of those and put a third-party link in it and send those out on social media as well. And I think that's done pretty well in bringing in some different traffic that you know, it's just another resource for the people that might be visiting your page,” says Hays. 6. Invest in online advertising Paid marketing efforts for property managers are more about visibility and awareness. They’re especially useful in reaching people who may not have heard of your company before, but who are looking for services like yours. Hays notes that Geekly clients opt for Facebook and LinkedIn for targeted social advertising, because they have the most active property management communities. They also tend to generate the most value for your investment. “Facebook ads are a great gateway into paid ads, since Google ads typically require a much higher budget to get similar performance. Facebook in the past has had a lower cost per click, so you’re getting higher performance from it for less lift and less spend, which is why I recommend it as a really good starting point.” Both LinkedIn and Facebook have put significant effort into making advertising aseasy to run as possible. They both include features like geotargeting, which is essential for property managers who operate locally. “One thing I do love about Facebook ads, like with any other kind of paid ads, is that you can geotarget. Especially with property management and real estate, it makes sense that you’re going to target a specific area because, depending on the scale of your PMC, you probably don’t have properties across the nation." 7. Manage your online reputation Your online reputation is made up of all the touchpoints anyone could have with your brand online. This includes Facebook, LinkedIn, Instagram, Twitter, Google Reviews, Yelp, and more. One of the biggest threats to online reputation is reviews. Your marketing plan should include regular maintenance and attention to your online reviews. How are people talking about you online in your comments section, Google Reviews, and Yelp Reviews? If you see any negative comments that have constructive feedback, make sure you reach out to the person and find out how you can improve or make it right. Respond to the review or comment publicly with a polite and professional tone. There are also plenty of review management tools, many of which leverage AI to read the tone and sentiment of reviews and generate suggested responses accordingly. You can’t make everyone happy, but the way you deal with negative feedback goes a long way to protecting your online reputation. 8. Host networking events for brand awareness Of course, digital isn’t everything. After all, people exist in the real world, too. In-person events and community-building strategies can still be incredibly effective, especially in something as hands-on and personalized as property management. If you have the resources, hosting events can boost your brand awareness and company reputation in your area. Because property management is so regional—and creating a niche in the market is key to success—these highly targeted events work exceptionally well in the property management industry. If you're not yet at a point where you can host networking events, look for events hosted by other industry professionals in your area. Grab a ticket, mix and mingle, and get to know those around you. 9. Build a steady stream of referrals Real estate is a people-first business. That's why many property managers see a large portion of your their doors will coming in from referrals. Real estate investors often have networking events and educational sessions, so they have plenty of opportunities to talk about their property managers, both good and bad. Welch-Randall, a property management firm based out of Ogden, Utah, attributes 92% of its new doors to referrals. This is the mark of a business with established authority reaping the benefits of the work it put in to create that trust. Consider establishing a formal referral program, where existing clients can receive a reward or a discount on management fees if they refer a new client to you. The absolute best way to grow your referral stream is simply by providing the best possible investor experience to your clients. Drive strong financial results, communicate effectively, protect their assets, and even step into the role of asset manager. The happier they are with your services, the more likely they are to recommend you to others. Final thoughts Becoming an industry-leading property management company is about more than just the number of doors you manage. There is a saying in marketing that perception equals reality. If you want potential clients to perceive your company as an industry leader, you have to give them a reason to believe that you are. Real estate investors, especially new ones, above all else, are looking for experts that they can trust to guide them through the ownership of their assets. By answering the questions they have and proving your expertise, you’re proving that you're up to the task. Want to learn more about how you can build your property management business into a true powerhouse? Download our property management business plan. Download now

Calendar icon May 2, 2025

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Why I Quit Property Management for Coaching

Most people in property management will tell you that it’s an industry with high turnover, especially for newcomers. As someone who found property management as a second career and launched my own business, I’ve seen that struggle firsthand. It’s not common to stick around in property management for two decades, but that’s what I did before choosing to sell my business and focus on coaching. So why did I quit property management to run a consulting and coaching business? My journey to property management I didn’t start my career in property management. I actually focused mainly on process and data management for technology companies. Eventually I was part of an exit, and I decided that I wanted to try my hand in the real estate world. I ended up buying a brokerage in 2000, and in the due diligence process, I discovered that they were also loosely managing 31 properties. When I say “loosely managing,” I mean that everything was very manual and the company didn’t have a lot of systems in place. Given my background in data and processes, I knew there was a lot of room to improve. But back in 2000, property management wasn’t really seen as a profession. It was just looked at as something that real estate agents did on the side when they couldn’t sell houses. But to me, real estate sales meant big paychecks occasionally, followed by a month with no income. Property management provided consistent, predictable income each month, which is what I wanted. Establishing my company When I first bought the company, I immediately knew the property management side had a lot of potential. From day one I was focused on growing door count. We were explicitly targeting loft condos in downtown Denver, Colorado. That was the profile of properties that the company was already managing, and I knew that I wanted to keep the focus narrow. We only had a couple of people on the team, but we had a clear target client profile and a strong sense of what we wanted our company to be. Because property management wasn’t nearly as popular then as it is now, we also didn’t have a whole lot of competition, which gave us an opportunity to dominate the market. What I enjoyed most about working in property management There was a lot of upside to running my business. First off, we were really good at what we did. Because we had such dominance in the market, it gave us an extra level of confidence in what we were doing, and inspired us to keep building. Plus, working in an emerging industry was very exciting, even if it came with some downsides. More importantly, though, I really enjoyed the relationships I built with local property owners. We had a lot of repeat customers, so we got to know them well. We’d sell them a property, and then the client would realize the size of the investment opportunity, so they’d buy another one from us, and then we’d manage it as a rental. On the flip side, we had clients that we were managing properties for who eventually decided to sell. When you already have that trusted relationship with someone as their property manager, you have the inside track on selling their property when the time comes. They’re not going to go shopping around for other brokers, or looking to nickel and dime you. The most challenging aspects of property management Almost anyone who’s worked in property management will tell you that it’s not always sunshine and roses. There are a lot of challenges, and my business was no exception. For my company, one of the biggest learning curves in the beginning was learning to work with HOA management companies. Because we were focused on lofts, almost all of our units were in buildings that had HOA boards and professional HOA management companies. That creates certain challenges with certain repairs and renovations, move-in and move-out processes, and even small things like pet friendliness. The other factor was that, like I said, it was 2000, and property management wasn’t nearly as common as it is now. I didn’t know anyone else who had done property management at that level. I didn’t even know about NARPM for about the first 11 years that I had my company, so in a lot of ways I was on an island of my own, trying to figure the whole thing out. Eventually I ended up getting together with a few other property managers I knew in the area to form the Denver Independent Brokers Group. Even though a lot of our early members were only doing leasing, it still provided us all with a little bit more of a network and a group to learn with and from. Growing and maturing as a business The business was pretty successful pretty quickly, thanks to our specific market. I ran the company for nearly twenty years, and we grew to about 330 doors. We hired more staff, and at our peak we had about eleven full-time employees. That seems like a lot for a company with 330 doors under management, but most of them worked in the brokerage arm of the company. Some worked across teams, selling real estate but also showing rentals. We only had about four dedicated property management employees. Eventually we decided that the next stage of growth was to create a national brand. We knew that what we were doing was working well, and I had a network of other broker/owners who had similarly successful companies in other areas. So in December of 2019, we signed the paperwork to merge my company with four others across seven different markets. Stepping away from property management Deciding to step back from property management—and from the business I had been building for two decades—was not easy. But in 2022, we decided to do it. It had been a couple of years since the companies had merged, and it hadn’t been all smooth sailing. We had tried to standardize things across the country, and that didn’t always work. We had also elevated people who were thriving in their local markets into national positions, but that meant that the local offices no longer had the institutional knowledge that lived with those individuals. As a result, we struggled both at the local and national levels to adjust. We weren’t exactly looking to sell at that point, but we were approached with an offer that was pretty strong. We realized that the merger had created a tough situation for a lot of us, and selling was a good way to untangle that. We ultimately decided to sell the business in order to decouple the partnerships that we had formed. My advice to those in property management After the decades-long property management journey I’ve been on, my biggest piece of advice to anyone who’s just starting out in the industry is to always continue to expand and grow your knowledge. Property management is a lot more mature now than it was twenty years ago, and it’s moving faster than ever. You want to make sure you’re staying up to date, because even if you don’t own a company now, you might in the future. The people who do own the company are eventually going to want to retire, so they’ll be selling at some point. Or you may want to go out on your own and start a company. If you’re already a business owner, my advice is to design a business that can run without you, rather than design a business around you. In some ways, you want to be the least essential member of your team. Step away from tactical processes so you can focus on making strategic improvements and growing your bottom line. Regardless of where you are in your career, my advice is to build wealth by building your own portfolio. Property management isn’t usually a high-margin industry, but when you start to build your own portfolio, you diversify your income rather than relying entirely on your business. What I’m doing now I’ve stepped away from actively managing properties, but I’m still in the property management world. I currently run a coaching business, ONYX, where I help property managers grow their businesses by getting more strategic. In a lot of ways, I’ve been a coach my whole life, whether in business or Little League. I’ve been connecting with people in the industry since I first started, and part of NARPM since 2011, including serving as my local chapter president. I felt I had a good sense of the challenges other property managers were facing, so I decided to do some consulting on the side, starting in about 2017. My coaching business was up and running as a side gig while I was still running my property management company. When we decided to sell that business, coaching worked well for me as a logical next step. I knew it was something I wanted to do more of, and suddenly I had the time and space for it. Now, with my company well established, I’ve been able to help nearly 200 companies improve their processes and become more effective. If you want to learn more about my management philosophy, check out my recent episode of the Triple Win Property Management Podcast. Listen Now

Calendar icon May 1, 2025

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Property Management Staff: Hiring by Business Growth Stage

To grow your property management business, you need the right people. You also need to be strategic about hiring property management staff—scaling too quickly can interfere with profitability. So whom should you hire, and when? That’s what this post is all about. How to hire based on stages of property management growth In the early stage of managing a property management business, the owner might handle everything from leasing to maintenance. Eventually, your management portfolio will become too difficult to manage alone, so you can either stop growing, or you can hire people to keep growing your door count. That shifts your business into what we call the transitional stage. Transitional stage In the transitional stage, owners may have a few direct reports that fulfill essential functions. Bringing these people onboard frees up more time for broker/owners to find new investors and grow the business. At this stage, potential hires might include: Property maintenance technician: A skilled technician handles repairs and maintenance and may even manage service requests and groundskeeping tasks. Property manager: This role oversees daily operations, communicates with residents, and arranges resident showings for vacant properties. Leasing agent: Someone in a leasing agent role typically markets, shows, and leases vacant properties. In some states, this type of role requires special licensure, so be sure to check your local regulations and hire someone who holds the appropriate credentials to fill this position. Leadership stage After finding more investors, owners will need employees who have people management skills and can assume responsibility for building out the team. Potential hires include: Director of resident relations: This role is responsible for hiring and overseeing leasing agents, leasing assistants, and renewal managers. Sometimes, earlier hires (like the first property manager) may grow into this role. HR directors: Periods of rapid growth are difficult to manage without an HR manager or director. This person ensures compliance with labor laws, facilitates employee onboarding, and handles any employee-employer disputes. Accounting generalist: This role manages accounts payable and receivable, rent collection, tax obligations, and payroll. As the company grows, this staff member may become the head of accounting, delegating responsibilities to junior accountants. Maintenance manager: This role hires and oversees maintenance technicians and is responsible for tracking service requests and outcomes. The maintenance manager may also determine whether to outsource services like pest control or HVAC maintenance and find vendors to fulfill those roles. Enterprise stage Growing beyond 1,000 doors requires enterprise-level professionals with expertise in accounting, marketing, data analysis, and other specialties. Potential hires include: COO: The chief operating officer reports directly to the CEO (usually the company founder). The COO is responsible for turning the CEO’s vision into reality by implementing processes and policies, improving operational efficiency, and setting objectives and KPIs. Data analyst: A data analyst monitors metrics for all properties and identifies trends and opportunities. Project manager: This role doesn’t oversee people but does oversee projects, ensuring tasks are assigned and completed according to timelines. Investor relations manager: This is the person who presents reports to investors and serves as a liaison between investors and property management staff. Marketing manager: This role is responsible for all marketing efforts. They may focus on finding additional homes to add to the portfolio, or might also help with vacancy marketing. IT manager: If a property management company has an online rent portal, complex software, or multiple employees using a variety of systems, an IT manager is a smart hire. How to scale efficiently in property management Recruiting, hiring, and training is expensive, so some property management companies rely on external partners to fulfill critical functions, either temporarily, or as a long-term solution. Some of these resources include: Marketing agencies Marketing agencies have deep expertise in audience targeting, campaign management, and which strategies work best for connecting with residents and investors. Outsourcing marketing can help property management companies build awareness of their brand and generate new revenue, without the costs of hiring. IT contractors A managed service provider or independent IT contractor can typically manage IT for property management companies. These professionals are highly skilled in IT best practices and cybersecurity, but may not have specific expertise in property accounting software or other tools in your tech stack. HR and accounting solutions There are many companies that offer managed HR and accounting services, including payroll, benefits management, and 401(k) administration. Outsourcing these functions minimizes costs for property management companies and ensures compliance with labor laws and financial regulations. Resident concierge services Property management companies can use outsourced concierge services to support their property managers. For example, Second Nature’s Move-In Concierge helps new residents set up utilities, minimizing stress for residents and creating a great first impression. Managed renters insurance All residents need insurance, but making sure they have the right coverage and tracking compliance is a time-consuming process that can be frustrating for residents and property managers alike. With Second Nature’s Renters Insurance Program, property management companies have a standardized insurance package for every tenant that covers all common perils, with optional dog bite liability, bed bug remediation, and mold remediation. Grow your property management business with Second Nature Whether you’re hiring your first employees or you run an enterprise-level company with properties in multiple states, Second Nature can help you improve operational efficiency, attract residents, and reduce turnover. Discover how Second Nature’s fully managed Residents Benefits Package can help you grow. Contact us today to request your personalized demo.

Calendar icon April 29, 2025

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Learning to Empower your Property Management Employees

Managing a team is hard, especially when you run the company. You want to empower your teams to be more than just button pushers, while also keeping a high level of execution and not putting your business at risk. It starts with hiring the right people, identifying their strengths, and putting them in the right seats. But beyond that, you have to make sure you’re giving them the room they need to learn, grow, and sometimes fail. Learning to let go of control over every detail, and instead trust your employees, will help you see more success, keep your best employees longer, and establish yourself as a true leader of your business. Getting started with hiring When I was just ramping up my property management business in Colorado, I fell into one of the classic traps that small business owners face. I just wanted to put butts in seats. I wasn’t hiring with intention. When you’re in grow-at-all-costs mode, it’s easy to start hiring whoever you can for whatever roles you can. But the danger is that you put people in the wrong positions and you don’t set them up for success. The lesson I learned very quickly was that I needed to be looking for people who were passionate. First, they needed to be passionate about the type of work we were doing. Second, they needed to be passionate about the types of properties we were managing. I learned that I needed people on my team who were bought into the long-term vision. They needed to have the same core values as we did if they were going to be successful. And beyond that, I wanted people who had the desire to learn, take on a challenge, and become better. Putting people in the right spots The specific skillset and attitude you need might vary by role. For example, in a sales position, you want people who have the drive to own everything, and may even have aspirations of becoming their own boss some day. But in operational roles, you may need people who are more focused on the small details, who like to get in the weeds and solve problems. Each person has a specific role to fill. I think of it like getting dressed in the morning; it doesn’t do much good to have 5 pairs of pants but no shirt. Learning to let go of control When I first started leading a property management business,I started out as too much of a control freak. I didn’t want people who would challenge my ideas or thoughts. I thought I was the smartest person in the room, and it was my business, so I was in charge. As a result, I held back my team. I didn’t give them ownership over their work. And it hurt my business. But then, in 2006, I got sick, and it became absolutely necessary to hand over control. It was the only way for my business to survive. I couldn’t own everything. I had to give people the opportunity to step up. And when I did, there were people there who really flourished. They just needed to be given the space to do it. It’s one of the most important lessons I’ve learned in business. People need to have authority and ownership to excel in their role. You need to give them direction, and then you need to get out of the way. You can’t steer a parked car; you have to be in motion to change direction. Getting comfortable with the occasional mistake One of the biggest sticking points for a lot of leaders—especially in property management—is a fear that, if they give responsibility to someone else, that person will make a mistake. I have two responses to this: First off, mistakes are inevitable. Of course they’re going to happen, but that’s okay. Second, the stakes really aren’t that high. We’re not driving ambulances and getting lost on the way to the hospital. Really, what’s the worst that can happen? If we’re late getting a payment out to an owner, maybe we’ll get an upset phone call. We’ll feel like we have egg on our faces when we have to apologize. But we’ll all move on from it and we’ll find a way to make it right. Realistically, holding back your employees is costing a lot more than letting them make a mistake. When you create an environment where it’s okay to make a mistake, you create an environment of trust. And when you have that, you have a successful workplace where people want to work. Besides, why have someone on your team if you aren’t going to trust them to take on responsibilities and grow? Holding onto your best people Keeping talented team members is tough. Turnover is a big issue in all small businesses, but especially property management. There’s a ceiling on growth, and a lot of good employees hit it pretty quickly. There just aren’t that many positions to grow into when your team is only four or five people. And that means there’s no big promotion or big raise that they’re working for. I believe you can still keep your best and most ambitious contributors. You just need to give them something worth working for. I always say that people will suffer for a cause, but they won’t suffer just because. You need to give people a north star to work towards, and you need to hire people who believe in what they’re doing. When people are bought in on your company vision, and when the work they’re doing is directly tied to it, they can continue to grow even in the same role. Final thoughts One thing that I try to bring into my leadership style every day is believing in people more than they believe in themselves. I truly believe people are capable of more than they think they’re capable of. Everyone carries some level of impostor syndrome, and a great leader can help them overcome it by believing in them, coaching them, and empowering them. When I see that someone has the right values and they’re bought in, that’s when I start to give them more and more guidance on how to improve. Most people will rise or fall to the level of your expectations, so set your expectations high, and then give them the support to meet it.

Calendar icon April 24, 2025

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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 driven plenty of opportunity 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. 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. 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 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. 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. 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

Calendar icon April 23, 2025

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Leading Means Truly Connecting with your Team

About two years ago, I had a big shift in my professional life. I was promoted into a director position, and, for the first time in my career, I was a layer removed from most of the individual contributors on my team. As someone who cares deeply about coaching, knowing my team, and forming relationships, it was jarring. I felt disconnected, and it was a tough adjustment. Shortly after, I was in a leadership class when one of the instructors asked a simple question: “How much time do you spend with the people who are doing the work?” It was pretty eye-opening for me, in part because I’ve always felt that JWB is a social workplace where we all want to get to know each other. But the truth was, I wasn’t spending that much time with my team, and it was having a negative effect. I wanted to make sure that members of my team knew where I was coming from when I communicated things to them; that I had their best interest at heart, and that I wanted to be a coach, not a dictator. So the next logical question was, “how can I build up these relationships to foster more connection and trust?” How to build relationships with your team Once I started thinking deliberately about how to form closer relationships with the “doers” on my team, it actually came pretty naturally. The challenge wasn’t in coming up with the ideas, but in actually executing them. In a business as busy as property management, it’s not easy to make time for team building. It tends to be one of the first things to fall off the priority list when other things pop up. The most important part of setting up any kind of team building program is to commit to it and see it through. With that said, here are some of the different ideas that I’ve either done myself, seen done well at JWB, or heard positive reviews of from people in my network. 1:1 coffee and lunches This was the first large-scale, deliberate plan that I put in place when I realized that I needed to form stronger relationships with my team. I committed to taking a different member of my team out for coffee or lunch each week. I set no agenda and I had no ulterior motives; it was purely to get to know each other. I tried to minimize how much we talked shop, and instead learn what kinds of things each person enjoys, how they communicate, and what they’re passionate about. This wasn’t a small undertaking for me, because the teams I managed totalled over 50 people, but it was well worth it. I connected with people that I had otherwise never even met. Notes of gratitude Another approach I took was to write a couple of notes of gratitude to teammates each week. They were delivered privately, and were just intended to let that person know that I saw how hard they were working and what they were achieving. If you have a performance management or HR tool, take a look and see whether it includes a feature that will let you do this virtually. You can even set a calendar reminder each week to sit down and write a nice note to a couple of teammates. They don’t have to be long. The point is just to make the recipient feel seen. Team appreciation events While an office pizza party may get a bad rap, in-office team building can still be impactful. We recently celebrated team appreciation week, and we made a big deal of it! We didn’t announce the full scope of what we were going to do, so it was a nice surprise for most of the team. We had a team lunch, but we also gave out awards and hosted free raffles for our employees to win fun prizes. Just making the time was important in itself. Desk rotations Another tactic we use from time to time is switching up where people are sitting. Not only does it offer a literal fresh perspective, but it also helps break down silos across teams. People make friends with the people physically closest to them, and for leaders and managers, sitting with different groups can help build relationships and trust with them, too. Setting expectations I am a huge proponent of setting expectations, especially when onboarding new employees. I think one of the most important things you can do as the leader of a team is set non-negotiables for how people behave and how they treat each other. Not only does this keep people in check, it also gets everybody on the same page about how their teammates and managers are going to communicate. If you set the expectation up front that you’re going to provide weekly feedback in order to help everyone grow, your employees won’t be caught off guard when they receive constructive criticism. Far-reaching impacts Of course we all want to get along well with our colleagues, and we want to like the people we work with. But at the end of the day, what do we really get out of fostering these relationships? In my experience, the impacts are pretty significant. Fostering better work: When people feel seen, heard, and appreciated, they’re much more motivated to show up to work as their best selves. They’re going to perform better and go above and beyond, because they know that effort will be recognized. Increasing team retention: Again, no one wants to be at a workplace where they feel undervalued. When people have more trust in their team, they’re likely to stick around longer. Creating a safe space for hard conversations: People are more likely to open up about tough topics when they don’t feel like they’re going to be judged, especially when they’re talking to their managers. By creating a safety net for difficult conversations, you allow your employees to be more honest and resolve challenges more quickly. Increasing receptivity: Employees who take feedback well are invaluable, and one of the best ways to help them do that is by making sure they trust you to give honest, effective evaluations. When they know you’re coming from a place of genuine helpfulness, as opposed to tearing them down, they’re less afraid and more receptive. Building accountability: Team members are also more likely to hold each other accountable when there is a closeness and trust factor. When they know their feedback will be taken in a positive light, they feel more confident providing it in the first place. All of this makes people more comfortable, more productive, and more likely to approach their work with a positive attitude. True at any size One thing I want to make sure to emphasize is that this isn’t just something you need to focus on at a larger company like JWB. While smaller teams often know each other well just by the nature of their work, that isn’t always true. For example, a small team may have remote workers who only get a chance to connect with in-office staff a couple of times per week. Or you may have maintenance coordinators, leasing agents, or inspection staff who spend most of their time out of the office, visiting properties. They may not have the same opportunities to forge close relationships with their teammates, and may feel disconnected. Just because there isn’t a layer of management between you and the rest of the team doesn’t mean you don’t need to invest time and energy to form connections. In fact, if you have to ask the question at all, it’s probably worth it to put some 1:1 meetings on the calendar and get a pulse check from your team. It can’t hurt to get the ball rolling. Final thoughts When you’re a busy property management leader, it can be tough to find the time and energy to focus on team building. But you have to do the work so that the people who work for and with you understand who you are, where you’re coming from, and why you care.

Calendar icon April 22, 2025

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Four Keys to Successfully Scaling a Property Management Company

Scaling a property management company is not easy. Between finding the right clients, hiring new team members, and keeping your processes up to date and efficient, there's a lot involved. We sat down with industry expert Patrick Freeze to get his take on how to successfully scale a property management company. Patrick Freeze was once a professional poker player. Now he is the CEO of Bay Property Management, a Baltimore-based firm that has scaled to over 6,000 doors and is one of the largest PMCs on the east coast. While his personal origin story is one of the most interesting in the industry, we're focused on his company’s growth story and the tactics used to go from zero to thousands of units under management. Bay Management took a marketing-focused approach, complemented by intentional and detailed process optimization. Freeze was a wealth of information, and we've tried to boil down our conversation to four top strategies. 1. Focus on SEO and digital marketing From day one, Bay Property Management has invested in its organic marketing efforts to help attract new business. Freeze himself became an expert in SEO early on, and today it remains a primary focus of his marketing team. “I started reading everything I could on online marketing, so SEO, pay-per-click, etc. Over the course of a year, I became really skilled at doing all the marketing on my own,” says Freeze. “So if you were to type in property management companies, Baltimore property management companies, or any variation of those keywords, we could come up number one. And then we started getting phone calls 24/7.” Bay grew rapidly as a result of its ability to generate web traffic and organic leads through SEO. Freeze doubled the size of the business each year for several years after the initial launch, eventually expanding into four different markets. Freeze credits his and his team’s investment in top-of-funnel digital marketing tactics as the catalyst for his rapid business growth. The CEO estimates he gets between 120 and 140 new single-family leads a week, almost exclusively from online sources. “We have 10 people in our marketing department that solely focus on that. Google is actually going through a big algorithm update right now, and you have to be on top of those. If you’re not, you’re not going to rank well in search. We spend a lot of time on that. Someone could probably argue the other side and say you should be more diversified, but it’s worked for us.” 2. Never stop examining your processes One of the biggest challenges for a growing business is process development and refinement. Scaling requires careful, deliberate processes, and that can often be more difficult than growing the client list. A rapidly growing PMC has already optimized its process for finding new business. Defining the systems your company will depend on to be efficient is a new kind of undertaking, something Freeze learned quickly as Bay grew to nearly 200 employees. “When you’re managing 500 units, you know everyone at the company very well, and you can get away with not having systems, policies, procedures. When you have 190 people, you really have to have your systems down,” says the CEO. Freeze notes that the challenges that come with a large company are not universal, and what you have to be prepared for at 50 employees is different from 150. It pays to focus on continuous improvement and always be optimizing; process management is never something that’s done. “So I think probably scaling from five employees to fifteen, to 50 To 100. You have to keep iterating. You have to continuously make improvements on what you're doing. So what worked for 200 doors is not going to work for 1,000. So a good example: when we started out, we had one person handling maintenance, one person handling accounting, one person as the property manager, right? And I would go out and get new business. Well, as the company continued to grow then we had two people on maintenance. And then we had two property managers. And as we were growing, we realize, wait a second, when a work order comes in, whose work order is that?” Defining roles and minimizing redundancy Early on in the company’s growth, Freeze sought to define the exact responsibilities of all positions within the company in order to minimize overlap. Overlap in roles leads to inefficiencies, which can be avoided with clear guidelines as to exactly what role is responsible for what upcoming tasks. “We have a handbook for our property managers that’s probably 80 pages. We have a procedural guide for every single position,” says Freeze. “I don’t think anyone whom I’ve talked to that has scaled has not had very, very defined policies, procedures, handbooks, because if you don’t, it’s going to be a total mess.” Structure has helped create more traceable outcomes, which results in processes that are “more easily optimized and improved as the company continues to grow. “We made a change when we had about 1,000 or 1,200 units from having maintenance coordinators and property managers to just having the property managers handle everything. It was a big switch for the company, but I think it was for the better because we know exactly when there’s a mistake that’s made. We can trace that and see exactly who was responsible for the problem instead of having four hands in the pie.” 3. Take the time to hire the right people “I don’t think there is anything more important than having good quality employees,” says Freeze. “You can get all the new business you want, but if you don’t have good employees managing the new property, you’re going to lose it as quickly as you gained it.” Bay did not grow to almost 200 employees without a developed process for finding highly skilled team members. While the hiring process has become much more role-specific now, Freeze credits a unique interview design—one that’s much more action-focused than response-focused—for helping him pick the people best suited for property management. “I had a list of 30 to 40 questions that had nothing to do with property management. I would ask questions like ‘who is the vice president?’ ‘What is 46 times 24?’ I used to have this brick wall in my office and I would ask how many bricks are on the wall. I would ask them to name something that’s complicated but you know really, really well, and take five minutes and explain it to me. And I would just keep going on and on for probably 30 minutes with these questions.” Freeze never particularly cared if the candidates got the answers correct. He was much more interested in their process for getting to the answers and how they handled the unusual interview. “In property management, you’re constantly dealing with problems. You’re basically problem-solving when you’re a property manager, and if you can’t deal with complicated questions, you’re probably not going to be able to deal with complicated situations. So I would just start blasting off for 30 minutes all these random questions, and some people did great with it and we would hire them. We probably had 25% of all people who wouldn’t even finish the interview.” Resilience is a key trait for a property manager, but also one of the harder traits to identify in an interview setting. Bay’s interview process succeeded in testing for it. Freeze’s process also includes a timed writing test designed to see if candidates can write clearly and quickly when applying for a company that’s very email heavy. The process is designed to test ability more so than experience, and it’s helped get the right people in place from the beginning, allowing Bay to offer a better property management service that is more marketable. 4. Invest in legal and compliance Compliance is hard enough in the heavily regulated world of property management, but one of the biggest challenges as you expand into other markets is managing the different laws and ordinances in each individual market. Freeze believes that compliance is “far and away” the biggest challenge of scaling. “All of our leasing agents have to know different things in different jurisdictions that we’re in, because the requirements are different,” says Freeze. “We have attorneys review our stuff every single year, all of our lease documents, addendums, etc. Even with all that said, there is so much legislation that is passed every quarter that it can be tough to stay up on it.” Managers at Bay’s regional offices are required to be remain current with the nuances of local leasing laws and ordinances, which can change monthly. “They really are changing that much, as crazy as that sounds. And then when COVID happened, it was a complete and utter nightmare. They were changing weekly, and the odds of getting hit with a big class-action lawsuit go up, and you can be sued for something that you don’t even know you’re doing wrong. So always make sure you are totally buttoned up and spending extra money on compliance. I can’t say that enough. You can’t spend too much on that.” Advantages of scaling a property management business With these tips for scaling a PMC, you can increase the size and scope of your business, achieving higher levels of efficiency, profitability, and growth. Let’s look at what benefits you stand to gain from scaling your business. Improved profitability: As a business grows, it can benefit from economies of scale, which can help to reduce costs and improve profitability. Whether you're negotiating rates with a maintenance vendor or ordering air filters for your properties, you can usually get better deals when buying in bulk. Competitive advantage: Larger businesses can offer a wider range of products or services, enter new markets, and achieve greater brand recognition, all of which help you stand out from the competition. Plus, investors may be more likely to trust a business with more doors under management, which they see as more professional and more experienced. Improved access to capital: A larger and more successful business is often able to attract more investment and secure better financing terms, which can help to fuel further growth. In the case of property management, it can also draw clients. Attracting and retaining top talent: Scaling a business can help to create new professional growth opportunities for employees, increase job security, and improve overall job satisfaction, which can help to attract and retain top talent. Increased innovation: As a business grows, leadership can spend more time working on the business, rather than in the business. That means more time can be spent identifying opportunities, building efficiencies, and developing ancillary revenue streams. Tools you need to scale your property management business The property management industry is an enormously tech-savvy group of people. In our network of property management companies, we’ve seen quick adoption of new tools and tech like AI, cloud-based systems, and more. Of course, the property management tools you choose will depend on the specific needs and goals of your PMC, but here are some tools and property management software solutions that we’ve seen most highly rated in our industry. Slack: A cloud-based platform that makes communicating with your team easy. You can get immediate responses from team members, and even vendors or clients you add to your channels. LeadSimple: Sales CRM and process automation RentCheck: Automating property inspections Process Street: No-code, simple process and workflow management Airtable: a low-code platform to build collaborative apps to visualize data, processes, and more. Zapier: A tool that allows you to integrate all your applications and set up automated workflows between them. These are just a few of the many property management tools available. It's important to evaluate the specific needs and goals of your business, and choose a tech stack that best fits those requirements. How Second Nature helps with scaling Second Nature was built on the idea that we can make property management easier for everyone involved—residents, investors, and especially property managers. To that end, we’ve built fully managed services that generate greater value for your PMC by delivering better resident experiences. Second Nature’s Resident Benefits Package aims to provide tools that are customizable across multiple property management levels, needs, and niches. With fully managed and integrated services that add value for residents and investors, you can much more easily see the benefits of scale. Our team takes care of the details for you so that your team can focus on growth, reputation, and quality. Learn more about Second Nature’s industry-leading RBP and how it can help you scale with greater ease.

Calendar icon April 18, 2025

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Property Management Meeting Agenda Template: A How-To Guide

Having a well-structured, consistent, and intentional meeting agenda can help keep your team—and your company—on track. Setting and sticking to a clear agenda sets expectations with your team. It also provides an opportunity to directly lead your team toward key goals by focusing on the right things. Once you’ve settled on a robust meeting cadence, you have to make sure that you’re maximizing your time. No one wants to sit in meetings just for the sake of it. This article provides a clear property management meeting agenda template, so that you can make sure you’re hitting all of the most important points in your meetings, including financial news, maintenance reports, leasing and resident updates, and compliance changes. Why do you need a property management meeting agenda? Having a well-defined meeting agenda serves several important purposes. First off, it keeps your team focused. Everyone knows what to expect when you sit down together. Second, consistency allows you to touch on the same points each time you meet, meaning that you can better measure progress. A meeting agenda also creates a central place for documentation, including what was discussed and what the take-aways and outcomes were. It drives accountability, follow-up tasks, and better time management from your team, and ensures that key items don’t slip through the cracks or end up on the back burner. Essentially, your agenda illustrates what’s most important, helping you to better prioritize how you spend your time. The specifics of your agenda will vary based on the meeting type. A weekly staff meeting is going to have a very different agenda than a quarterly investor report, for example. What to include in a property management meeting agenda Developing an effective agenda can take time, patience, and practice. Luckily, we’ve spoken to dozens of property management professionals and distilled their insights into a clear template for you. This template is best suited for a monthly meeting in which the larger team gathers to check in on key items and set priorities. 1. Welcome and introductions You should always start each meeting with an overview of who’s meeting and why. That should include: An explanation of the meeting’s purpose: Are you reviewing property ledgers, discussing upcoming projects, or examining team performance? Expectation setting: What topics are attendees expected to stick to? How should they address follow-up or spin-off topics? Introductions: Make sure you introduce any new team members or vendors, including existing team members who don’t typically join this meeting. Make sure everyone knows why each attendee is there. 2. Previous meeting minutes Next, make sure to review any key takeaways or outstanding items from the last meeting. If there were tasks assigned during the previous session, now’s the time to check in and see whether they were completed. If there are tasks that haven’t been completed, set a deadline so that they don’t fall behind. You can also use this time to shout out notable accomplishments and achievements from the team. Take a minute to recognize team members who have done great work since the last time you met. 3. Financial performance updates Next, dig into your financial performance a bit. This is where you’ll want to look at things like: Rent roll reports Budgeted versus actual financials Income by source, including a breakdown of rent, fees, and ancillary income For monthly or quarterly meetings, you can also look at profit and loss statements. You’ll want to use this time to also flag any budget items that are at risk, or any particular properties with big-ticket maintenance issues or other costs. This is a great time to look for patterns in financial performance to see if there are overall areas in which you can improve. 4. Property maintenance and operations Once you’ve covered the monetary picture, it’s time to turn to maintenance. You should start with ongoing maintenance projects, especially urgent items or recurring problems like plumbing repairs, roof leaks, or HVAC issues. Next, look at upcoming projects that may be planned in advance or happen annually. For example, plans for spring landscaping, winter snow removal, or summer pest control treatments should be covered here to make sure that everything is on track. This is also a great time to review vendor performance. Take a look at recently completed work orders and what resident feedback looks like. Did any vendors go above and beyond, or perhaps fall short? Are there maintenance areas where you need additional vendors in your network to handle the workload? 5. Resident management and leasing updates Next on the agenda is a look at leasing, resident retention, and marketing. Start by looking at occupancy rates, as well as current and upcoming vacancies. If there are open homes that have been listed for a while, evaluate whether they need a price adjustment, updated photos, or more marketing dollars. This is where you can really boost your listing strategy with new ideas from the larger team. You should also be looking at resident retention and marketing efforts at this point in the meeting. What percent of upcoming lease expirations have already signed on for renewal? What kinds of incentives can you offer to boost renewal rates, if needed? 6. Compliance and legal updates After you’ve handled financials, maintenance, and leasing, it’s important to take some time to review any new legal or compliance changes. Compliance is essential to maintaining a stable business, so it’s absolutely worth the time investment here. First, look at any regulatory changes impacting property management in your geographic area. This is especially important if you manage properties across multiple counties and states, which increases the likelihood of more frequent regulation changes. Look at what the changes are and whether you need to make any changes to remain compliant. Next, review any ongoing legal matters, especially those related to evictions. Make sure the whole team is on the same page and that everything is being done by the book to avoid any unintended consequences. 7. Strategic planning and improvement initiatives Now it’s time to zoom out and look at bigger, longer-term projects. You’ll want to take this time to cover any large capital improvements, either in your business itself or at managed properties. Business improvements might include technology upgrades or hiring efforts. Property investments might include roof replacements or large-scale renovations. You’ll also want to look at changes to your portfolio. For example, you may be onboarding a new investor client, or maybe an existing client has acquired new properties that you’re going to bring under management. You also might have clients who are planning to 1031-exchange one property for another. You should discuss these matters to make sure that your team is planning appropriately. 8. Actions items and next steps The last major section of the meeting is reviewing action items and next steps. If you aren’t carefully recording your follow-up tasks, your meetings will be ineffective and work will get lost. Make sure that you have a clear list of tasks, and that each one has a designated assignee. Team members shouldn’t have any confusion about who owns which items. They should also be given clear deadlines, and management should establish a transparent follow-up schedule to make sure everything is happening on time. For example, if a unit needs carpets replaced, someone might be assigned to gather three quotes before the next meeting, and their manager should have a check-in set at the half-way point to make sure they’ve reached out to vendors. 9. Open discussion and Q&A Before closing out the meeting, make sure that you leave time for open discussion and any clarifying questions. By giving everyone the opportunity to ask questions, you’re ensuring that they bear responsibility for understanding what’s been discussed and what’s expected of them. If there’s time remaining, team members can use it for cross-talk, where they can follow up on open items with other team members. In property management, it often isn’t easy to get everyone in a room together, so make sure that you’re maximizing the time you do have. Tips for running a property management meeting Now that you have a better sense of what should be on the agenda, you’re almost ready for your meeting. There are a few crucial steps to making sure that your property management meeting runs smoothly: Share the agenda in advance, and only adjust it when absolutely necessary Start by celebrating wins, which can help engage and motivate the team Take clear notes so that you can go back and review key discussion topics If you’re meeting virtually, record the session for anyone who can’t attend Reserve of-topic discussions for separate breakouts Watch the clock to make sure you’re being respectful of everyone’s time Gather feedback about the meeting from your team to make sure it’s serving its purpose Customize your property management meeting agenda templates with Second Nature Using this meeting agenda template can drastically improve your meeting productivity. And when you have your whole team sitting in a room together, you’re paying a lot of salary for that time. Productivity is key. If you want more templates that can help you optimize your property management business, you’re in luck. You can explore all of Second Nature’s templates and resources, which are completely free to download. Explore now

Calendar icon April 17, 2025

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Why Should Property Managers Offer Internet as an Amenity?

In a world where residents are consistently seeking out convenience and amenities, property managers are constantly trying to meet high expectations. Whether it’s providing a Resident Benefits Package or making applying, moving in, and paying rent more convenient, property managers are rising to the challenge. In today’s rental market, residents expect fast, reliable internet as a necessity, not a luxury. Residents are working from home, streaming their favorite shows at night, and gaming online, and they need a dependable high-speed connection. Unfortunately, consumers today aren’t the level of service that they want. In fact, customers using wired internet in the U.S. reported an overall satisfaction level of just 538 on a 1,000 point scale. The gap between customer expectations and what they’re receiving is only growing. An internet program provides the opportunity for property managers to deliver a premium resident experience, while also giving investors a strategic edge to attract and retain quality residents. So what are the benefits of offering high-speed internet as an amenity for your residents? Delivering resident experience At Second Nature, we’re all about the resident experience. It’s why we do what we do. It’s also why we recently introduced Group Rate Internet. Like all of our resident benefits, Group Rate Internet is designed to deliver a top-tier resident experience. With Group Rate Internet, residents receive high connection speed at a significantly lower cost. Plus, our Group Rate Internet program eliminates resident frustration with unexpected price hikes, slow speeds, or contract confusion. We’ve eliminated all the outdated annoyances of the traditional internet subscriber experience. Simple setup When they move into a unit with Group Rate Internet, residents get a premium activation experience. Second Nature provides expert guidance to activate service, including a warm hand off to their internet service provider (ISP) when necessary so that they can easily schedule installation or receive equipment delivery. No more dealing with ISP runarounds or being put on hold or transferred over and over—just responsive, high-touch service that makes setup fast and easy. Dedicated support Once the resident is up and running, Second Nature provides continued support via a dedicated phone line. If residents have questions about their service or subscription, they call us directly, keeping your phone lines open to answer other resident inquiries. If they have a technical support question that requires support from their ISP, Second Nature will initiate a warm handoff, making sure that a representative from the ISP is on the line before hanging up. Cost savings It’s not just resident experience, either. The second reason that internet makes so much sense as an amenity is the financial side. With Group Rate Internet, you can help your residents save money on their internet bill every month. Today, residents pay an average of $80-$120 per month for gigabit-speed internet service. A separate study found that only 53% of wired internet customers in the U.S. said that their monthly bill was affordable. That means that nearly half of subscribers find their internet service costs to be too high. Because Second Nature can harness the negotiating power of the more than one million units in our network, we can deliver savings directly to residents. With our group rates, residents can get high-speed service at a lower cost than they could get on their own. Plus, because Second Nature maintains the contracts directly, residents won’t see sudden price hikes or changes to service levels. Plus, they have no setup, cancellation, or hidden fees. Equipment rental is covered, so the price they see at lease signing is the price they pay. Competitive advantage Today’s renters are tech-savvy and more connected than ever. In fact, many residents actively seek tech-forward homes. Properties offering built-in high-speed internet stand out in competitive markets. That means that you can fill vacancies faster, keep residents longer, and deliver better business results. Increase applications The 2024 NMHC and Grace Hill Renter Preferences Survey Report, which surveyed over 172,000 renters nationwide, found that 90% of residents said high-speed internet was a must-have. It was the third-most wanted amenity behind airconditioning and in-unit laundry. That means that, by advertising gigabit-speed internet as an amenity in your rental homes, you’re appealing to a much wider potential resident base. Programs like Group Rate Internet can help you set yourself apart from the pack. You’ll get more applications and find a qualified applicant more quickly. Retain residents Property managers know that happy residents stay longer, and lease renewals are a key performance indicator for your business. When residents stay longer, property managers and investors save on listing and marketing, missed rent, and turnover maintenance costs. Because fast, affordable internet drives rental satisfaction, it can directly influence whether a resident chooses to renew their lease. That means a direct impact on your bottom line, and work taken off of your leasing team. Final thoughts Whether you’re looking for new ways to delight your residents, opportunities to drive cost savings, or looking to find and retain better applicants, internet can be a great opportunity. By packaging high-speed internet with your rentals, you can help grow your business while providing a service that residents are eager to take advantage of. Interested in learning more about how you can add Group Rate Internet to your rental portfolio? Book a demo today to speak with a member of our team.

Calendar icon April 15, 2025

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