Calendar icon April 10, 2023

AI Property Management: Tools, Benefits, and Challenges for the Industry

Photo of Andrew Smallwood

Andrew Smallwood

Chief Customer Officer - Second Nature

What we'll cover

What is AI in property management? 

How to use AI for property management 

Best AI property management software you should try

Benefits of using AI in property management

What you shouldn’t automate with Artificial Intelligence  

Challenges of AI in property management

Future of AI in property management

Final thoughts 

Artificial intelligence (AI) property management is one of the buzziest terms in the industry right now. Today, with a special guest Wolfgang Croskey, we’ll break down its practical applications, how it can help property managers, and how it could hurt them.

Meet the Expert: Wolfgang Croskey, President of The Perfect Tenant

Key Learning Objectives:

  • How to use AI in property management
  • Best AI property management software
  • Benefits of using AI in property management 
  • What you shouldn’t automate with AI in property management 
  • Challenges of AI in property management
  • Future of AI in property management
  RBP Demo Video  

What is AI in Property Management? 

AI property management is a business strategy for real estate or property management companies to simplify and improve their processes through software-powered property management automation. It streamlines operations by automating tasks like resident screening, maintenance scheduling, and rent collection, enhancing efficiency and decision-making.

In its current state, artificial intelligence best serves property managers by supporting and expediting administrative tasks. It’s essentially calendar clearing, in that it gives property managers more time to focus on their business. In fact, Croskey has implemented AI solutions into his business and noted how much extra free time his property managers have to be property managers.

Croskey says, “Now, with the time we have, our property managers call an owner every day just saying, ‘Hey, how’s it going?’” 

Croskey’s team is able to devote more time to elements of a great resident and investor experience. It’s ironic to think that AI is helping you forge stronger relationships with clients, but it’s true. With more time to devote to opening lines of communication and being proactive in doing so, PMs can build that experience that’s the primary differentiator in modern property management. That’s what it means to work on the business. 

“Can AI replace a property manager? No. Because at the end of the day, what is a property manager hired for? To provide solutions for crazy problems. And that's what we do. But if your whole day is filled with all this admin work, how are you going to have the energy and time to solve crazy problems? Use these tools to unload as much admin stuff as possible, so you can really focus on the property manager’s true value proposition, which is solving crazy problems and helping owners make money.” 

The bottom line: AI has enormous potential to help save time if used correctly.

Happier residents

How to Use AI in Property Management 

So, how do you actually use these programs to cure your team of their grunt work pains? Let’s look at some of the top business areas and use cases for AI property management.

AI for Tenant Screening

AI tools can streamline the screening of potential tenants by automating background checks, credit evaluations, and rental history analysis. Tools like TenantCloud analyze applicant data to predict lease default risk, ensuring property managers select reliable tenants more efficiently.


AI for Reducing Maintenance Costs 

AI can predict and prevent maintenance issues by analyzing data from Internet of Things (IoT) devices and past maintenance records. Tools like Building Engines use AI to schedule predictive maintenance, reduce downtime, and lower repair costs by addressing issues before they become costly problems.

AI for Generating Listing Descriptions 

With the rise of natural language processing (NLP) tools like ChatGPT and Jasper, creating unique marketing collateral has never been easier. These tools can generate compelling property descriptions quickly, allowing property managers to focus on other tasks. Copy.ai also assists in crafting listings and marketing content, saving significant time and effort.

AI for Automating Lead Generation

AI-driven platforms like Manychat and HubSpot can automate lead generation by engaging potential clients through AI-generated text and chatbots. These tools help capture and nurture leads, ensuring that no opportunity is missed.

“Maybe once a year, take your templates, throw them into one of these AI tools, and say, ‘Hey, can you rewrite this?’ You’re just kind of freshening up,” Croskey says. 

“You could ask it to rewrite something with a more friendly tone or add some comedy to it or different things. And so now, each year, the point of the message is the same, but you're kind of making it new and exciting.” 

AI for Property Analysis and Search

AI tools such as Keyway's keypilot and Saleswise AI provide in-depth property analysis by aggregating and analyzing market data, investment potential, and neighborhood insights. These tools help property managers make data-informed decisions on property acquisitions and market trends.

AI for Fraud Detection and Compliance Monitoring

AI systems like AppFolio can detect fraudulent activities and ensure compliance with regulations by monitoring transactions and resident activities. These tools use machine learning (ML) algorithms to flag unusual patterns and potential compliance issues, safeguarding property managers against legal risks.

AI for Leasing

AI assistants such as EliseAI automate leasing processes by answering prospective residents’ questions in real-time and scheduling tours. This enhances customer service and increases the likelihood of lease conversions by providing timely and accurate information.

AI for Accounting

AI-driven accounting tools such as Buildium automate financial tasks like rent collection, invoice processing, and financial reporting. These tools ensure accuracy, reduce manual errors, and provide real-time financial insights, improving overall financial management.

AI for Scheduling Maintenance Requests and Showings

Tools like Reclaim.ai offer smart scheduling solutions for maintenance requests and property showings. These AI tools prioritize tasks based on urgency and availability, optimizing time management, and ensuring timely responses to resident needs.

“The biggest problem with any basic scheduling app is the concept of priority, right?” says Croskey. “Apps without AI integrations simply look at free and busy times. For example: ‘Oh, this person wants 30 minutes. Let me find the next open spot for 30 minutes and plug them in there.’ But let's say you wanted an hour with me. If I didn't manually intervene, you probably wouldn't be able to get the hour for like two weeks because finding an hour-long spot is not going to happen. But I want to give you priority, so I had to override my account and say you know what, let's do 8 a.m..” 

AI for Marketing

AI tools are revolutionizing marketing efforts for property managers. ChatGPT and Jasper can create blog content, social media posts, and email campaigns, while Synthesia helps produce high-quality marketing videos with AI-generated avatars. Evolv AI enhances digital experiences by identifying drop-off points and improving the renter's journey. 

“If you are still wasting your time writing creative property descriptions, you just need to stop,” says Croskey. “Nobody reads them anyway. I’ll buy you lunch if you actually leased property because someone said, ‘You know what? That marketing description was phenomenal. That’s why I want to lease this house.’ Nobody has ever said that so why would you spend a lot of time on it?” 

 

Best AI Property Management Software You Should Try

Croskey has used several AI platforms to help with administrative and communications work. Here are some of his recommendations:

  • ChatGPT and Jasper: For content creation and marketing collateral. These tools can generate high-quality written content quickly, enabling property managers to maintain a strong online presence with minimal effort.
  • Grammarly: To maintain consistent and effective communication tones across various platforms. Grammarly ensures all written communication is polished and professional, helping property managers avoid misunderstandings and maintain a positive brand image. Note: There’s a free version, as well as a handy Chrome extension.
  • Reclaim.ai: For smart scheduling based on priorities. Reclaim.ai optimizes your calendar by automatically adjusting meeting times and task schedules to prioritize important activities, ensuring that critical tasks are never missed.
  • Keypilot from Keyway: For property research, investment analysis, and contract drafting. KeyPilot leverages AI to quickly analyze vast amounts of data, providing actionable insights that help property managers make informed investment decisions, and draft precise contracts.
  • EliseAI: To automate resident communications and improve customer service. EliseAI enhances resident interactions by providing instant responses to inquiries and efficiently managing follow-ups, which improves resident satisfaction and operational efficiency.

These tools collectively enhance various aspects of property management, from resident interactions and maintenance scheduling to marketing and financial management, making operations less time-consuming and more effective.

Benefits of Using AI in Property Management

Automating Routine Tasks

AI algorithms can automate repetitive and time-consuming tasks such as rent collection, invoice processing, and scheduling, freeing up time for property managers to focus on more strategic activities for their property management company.

Enhancing Resident Communication and Satisfaction

AI-driven platforms provide real-time responses to resident inquiries, automate follow-up communications, and schedule property tours, significantly improving residents’ experience and satisfaction.

Reducing Operational Costs

AI helps reduce operational costs by optimizing resource allocation and predicting maintenance needs, performing predictive maintenance to reduce downtime and costly emergency repairs.

Generating Accurate Financial Reports

AI-powered tools can automate financial reporting, ensuring accuracy and compliance while providing real-time insights into financial performance.

Predicting Maintenance Issues

AI analyzes data from IoT devices and maintenance records to predict and address potential maintenance issues before they become major problems, saving time and money and reducing stress.

Improving Marketing Strategies

AI assists in creating engaging marketing content and optimizes digital experiences to enhance lead generation and conversion rates.

Screening Residents More Effectively

AI-based resident screening automates background checks, credit evaluations, and rental history analysis, helping property managers select reliable residents more efficiently.

What You Shouldn’t Automate with AI in Property Management

While AI can solve various issues and make work better, there are still functions that are better accomplished by a human being. Indeed, if used incorrectly, AI can do more harm than good. Here are two common pitfalls of over-dependence on AI.

Creating Business Policies and Procedures

Croskey says, “The reality is that if you don’t have your policies and your procedures, there is no tool on Earth that is going to save your bacon… Look at McDonald’s. At one point, somebody had to roll up their sleeves and make the process of how to build the Big Mac. It probably took quite a while to do that, but now that it’s done, they haven’t changed the Big Mac for at least 40 years."

Property management AI can help you repeat your processes, but can’t create them for you, and it can streamline them, but not optimize them for success. 

Overreliance on technology is kind of an innate vulnerability with tools so robust. Croskey is quick to clarify that such a mistake can lead to notification overload, where you can’t keep up with everything that all these tech tools are delivering to you. You still have to be aware of what’s going on in your business.

Training Personnel

The veteran PM also notes that, just like with any new tech, proper training for the team is of critical importance. 

“Really do your team justice by providing them training, providing them opportunities, not just saying, ‘Okay, starting tomorrow, we're using Jasper, have a nice day.’”

For training, Croskey recommends the non-AI tech tool, Loom. You can create screen recordings and build a library of training materials for your team. 

“Loom does provide transcripts of the videos, too,” Croskey says. “You could take those transcripts and say, ‘Hey, ChatGPT, Could you write me a summary of this?’ And it will do it. So now you can put that summary in your email.”

Challenges of AI in Property Management

Data Privacy

Implementing AI in property management requires handling large amounts of highly sensitive resident data, raising concerns about data privacy. Ensuring compliance with data protection regulations and maintaining resident trust are significant challenges.

Security

AI systems can be vulnerable to cyberattacks, posing a risk to the security of resident information and property management operations. Robust cybersecurity measures and regular updates are necessary to protect against potential threats.

Cost

The initial investment in AI technology can be high, including costs for software, hardware, and training. Smaller property management companies could find it challenging to justify and afford these expenses.

Complexity

AI systems can be complex to implement and integrate with existing property management processes. The learning curve for property managers and staff can be steep, requiring significant time and resources for training and adaptation, and checking in to make sure these processes are integrated properly.

Lack of Human Touch

While AI can automate many tasks, it lacks the personal touch that human interactions provide. Maintaining a balance between automation and personalized service is crucial to ensuring resident satisfaction and effective property management.

Future of AI in Property Management

As of now, the strategies above outline how Croskey and other PMs are finding value in artificial intelligence. AI will continue to evolve, and the technology is going to build more advancements for PMs in the future, especially with integrations with property management software.

“Right now, all the AI is around language because I think it’s probably easier,” Croskey says. “I think the next step is going to be the math and numbers side, being able to look at your numbers, your portfolio, your financials, and start making recommendations from that.”

Croskey predicts that AI could aid in ROI analysis and decision-making, essentially doing analytics of data points associated with specific properties and identifying trends and associations within your portfolio that can help you increase the profitability of your doors. 

The last place you’ll see AI reach, according to Croskey, is the maintenance realm.

“There's a reason why nobody has really fully nailed down maintenance,” he says. “There are just so many variables and one-off things that it's hard to get a machine to learn that. For example, work orders come in, and the tenant says, ‘Oh, my toilet is leaking.’ Well, is it leaking from the floor? Is it leaking underneath? Is it just running? So there are three variables right there. Is it a low-flow toilet? Is it not a low-flow toilet? There are variables there. There are just all these things that can be going on that make maintenance hard. So I think that maintenance is going to be later in life.”

Final Thoughts 

AI property management tools are nothing to be afraid of and can be a massive support to streamlining business processes, workflows, and day-to-day operations. Many leaders in property management are already leveraging AI apps and products to make their work better.

The true benefit of AI is that it can automate busy work and repetitive tasks – freeing you up to be strategic, focus on relationships, and build better resident experiences. AI tools help PMCs keep up and compete with commoditization, as well.

Follow us on LinkedIn, Twitter, or Facebook to stay up to date on these AI conversations. We’ll keep the conversation going and continue to deliver the best insights from experts across the industry.

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Hear more from Wolfgang Croskey and other PMs who have used AI on the Triple Win Property Management podcast.

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Benefits of Outsourcing Property Management Services

Property management services have changed by leaps and bounds over the past 5-10 years. And property management outsourcing services have grown along with it. While the traditional approach to property management simply provided the basics – maintenance, rent collection, etc. – entrepreneurial PMs saw a massive gap in that value proposition and have transformed the real estate industry. Now, property management services are increasingly seen as a way to generate value for residents, real estate investors, and property management companies. PMCs are delivering resident benefits like credit reporting, renter’s insurance programs, pet guarantees, and more. And each of these services acts as a value add for everyone involved. But that can also add extra burden and cost to your property management business when your team is already spread thin. One of the best ways to offer value without overextending your team is to outsource some of those PM services to PropTech products, contractors, or a fully managed solution. Today we’re going to talk about this option in more detail. Whether you’re just getting started in property management or a seasoned pro, we hope you’ll find something here to help. Key Learning Objectives: What is outsourced property management? What services add the most value to the resident experience? What property management services are most easily outsourced? What are the costs associated with outsourcing PM services? What are the benefits of outsourcing PM services? What is Outsourced Property Management? Outsourced property management refers to the practice of paying for a third-party company or product to handle certain tasks or operations for your property management company. This could include tasks such as tenant screening, resident benefits, renters insurance programs, rent collection, maintenance and repair coordination, lease enforcement, financial reporting, and more. Property management is, in itself, an outsourced service for real estate investors/property owners. Just as property owners often choose to outsource their property management to save time, reduce stress, and ensure they stay profitable – property management companies may outsource several of their services for the same reasons. Property management outsourcing services, whether PropTech products or fully managed solutions, allow property management companies to build efficiencies and focus on quality and growth. Outsourcing certain services can give residents more of what they need and investors more value for their dollar. What Services Can Property Management Companies Outsource? Advances in technology and innovation within the property management industry have given PMCs greater flexibility in terms of outsourcing key services. As a property manager, you may outsource for a range of reasons. Maybe you’re still building up your team and need cost-effective expertise in a certain area. Maybe you have core products you want to focus on and want certain services to take less of your time. Maybe your investors or residents are asking for out-of-scope services that you can offer for an additional fee. Overall, outsourced property management services can help PMCs save time, reduce stress, and maximize the profitability of their company. So, what are some of the most commonly outsourced property management services? They can be grouped into a few categories: A single-family property management software and integrations that enable all kinds of business operations. Maintenance and repair. Many PMs outsource things like plumbing, HVAC, and other contractor work. Resident benefits and ancillary services. Property managers often outsource value-driving products like an RBP and other services that investors want, and residents will pay for. Let’s dig into the services that might be included within each of those larger categories. Rent collection Third-party payment processing companies can handle the actual collection and processing of rent payments for the PMC. The property management company will provide the payment processing company with the necessary information and details about the residents and the property, including lease terms, payment due dates, and amounts owed. The process may involve various payment methods, such as online payments, credit card payments, ACH transfers, or other payment options. Some popular outsourcing solutions that help collect rent include Buildium, Propertyware, and AppFolio. Second Nature provides a fully managed service that helps ensure your residents pay rent on time. Repair and maintenance Many PMCs outsource repairs and property maintenance. We’ve spoken with experts like Bob Preston, who run their own maintenance companies separately as another source of income and an added value to their clients. When a property management company outsources repair and maintenance, it typically involves hiring third-party contractors or service providers to handle the actual repair, upkeep, and maintenance tasks required for the property. Outsourcing repair and maintenance can offer several benefits for property management companies. You can access a broader range of specialized skills and high-quality expertise, which may not be available in-house, and save time and resources by avoiding the need to recruit and manage in-house staff to handle repair and maintenance tasks. Marketing and advertising Marketing isn’t everyone’s strong suit, and that’s okay! When a property management company outsources marketing and advertising, it typically involves hiring a third-party marketing or advertising agency to handle the promotion and advertising of the rental properties. The agency will work closely with the PMC to develop a comprehensive marketing strategy that aligns with the property's unique selling points and target audience. The marketing agency may use a variety of advertising channels and mediums to promote the property, including social media marketing, search engine marketing, online advertising, email marketing, print advertising, and other marketing channels. They may also create engaging content and visuals, such as videos, images, and virtual tours, to showcase the property's features and amenities. Legal Most PMCs outsource their legal services to a third-party law firm or attorney to provide legal advice and representation on various matters related to the property or properties. Legal services that may be outsourced can include lease agreements, evictions, compliance with local and federal laws and regulations, dispute resolution, and other legal matters that may arise in the course of managing the property. Outsourcing legal services helps minimize legal risks and liabilities, ensure compliance with applicable laws and regulations, and protect the property investor’s interests. Accounts and finance Many PMCs outsource to an accounting firm or financial service provider to handle the financial management and reporting. The outsourced firm will work with you to manage financial records, provide financial reporting, and ensure compliance with accounting standards and regulations. Accounting and financial services that may be outsourced can include bookkeeping, financial statement preparation, tax planning and compliance, budgeting and forecasting, and other financial reporting and analysis. Overall, outsourcing accounts and finance can help property management companies to operate more effectively and efficiently and achieve their financial objectives while minimizing financial risks. Insurance PMCs often work with a third-party insurance broker or agent to provide insurance coverage and manage insurance-related issues for the property or properties. The insurance coverage that may be outsourced can include property insurance, liability insurance, workers' compensation insurance, and other types of insurance coverage that may be necessary or recommended for the property. Another way to outsource insurance is to find a service that provides a renters insurance program like Second Nature’s. Ensuring that residents have insurance coverage is a priority for 90% of property managers, but only 41% of residents maintain compliant coverage. At Second Nature, our renters insurance program has 100% compliance. You can learn more about our coverage and fully managed Resident Benefits Package in our 2023 Resident Experience Report. Safety and security Many PMCs outsource to a security company to provide safety and security services. The security company will work closely with the property management company to assess safety and security needs, design and implement safety and security protocols, and provide safety and security personnel and equipment as needed. Security services that may be outsourced can include security personnel, security systems and equipment, safety training and education, emergency response planning and execution, and other safety and security-related services. Costs of Outsourcing Property Management Services? The cost for a PMC to outsource some property management services can vary depending on a number of factors, such as the scope of services required, the complexity of the work, the location of the service provider, and the level of expertise required. Some service providers may charge a flat fee, while others may charge an hourly rate or a percentage of the property's rental income. The cost of outsourcing property management services can range from as low as $1 per property per month to as much as hundreds of thousands of dollars annually, depending on whether it’s a full-service tech solution, simple maintenance services, a Resident Benefits Package, etc. It's important to note that while outsourcing property management services can come with a cost, it can also provide benefits such as increased efficiency, reduced workload, and access to specialized expertise. Before outsourcing any services, it's important to carefully consider the potential costs and benefits and to choose a service provider that offers high-quality services at a reasonable price. Benefits of Outsourced Property Management Services Outsourcing property management services can have a massive impact on your return on investment per door and per client. Outsourcing also helps with scaling when you can’t afford to run every service in-house. With the ability to outsource, you can offer more value to your clients without skyrocketing your operating costs. You can also drive secondary sources of revenue through outsourcing. Not convinced? Let’s go over some of the real-life benefits we’ve seen PMCs leverage with outsourcing select services. Cost savings Outsourcing property management services can save property management companies significant costs associated with hiring and managing in-house staff, as well as investing in technology and infrastructure. Outsourcing can also help to minimize overhead costs, such as office space, equipment, and supplies. Let’s think even bigger. Outsourcing value-generating services like a Resident Benefits Package has multiple benefits: boosting resident satisfaction, incentivizing on-time payments, and reducing vacancy rates. Talk about a cost-saving win! Increased efficiency We’ve seen PMCs use outsourcing to streamline their operations, reduce administrative property management tasks, and increase productivity. This can free up time and resources for property management companies to focus on core business functions and strategic planning. Instead of using your own team for time-consuming tasks, you can outsource them. Access to expertise Outsourcing property management services allows PMCs to access specialized expertise and skills that may not be available in-house. This can include legal, accounting, marketing, and maintenance expertise, among others. Outsourcing can also provide access to the latest technology and software, which can improve efficiency and effectiveness. Better risk management Property management inherently involves risk. You’re managing people’s lives on the one hand (residents) and investments on the other (owners/investors). Outsourcing can help better manage risks associated with property management, such as legal liabilities, compliance issues, and safety and security concerns. This can help protect your company from financial and reputational damage. Improved resident satisfaction You can more seamlessly and reliably improve resident satisfaction by providing better maintenance and repair services, more efficient rent collection, and faster response times to tenant concerns and requests. This can help to increase tenant retention and attract new tenants. Higher employee satisfaction Outsourcing services to a third party is a direct way to impact your employees’ satisfaction. How? Outsourcing helps reduce workload, gives access to better training and development, improves working conditions, and provides a better work-life balance. Often, outsourcing means that your employees get to focus on the core functions that they love instead of getting bogged down in tasks they don’t love or don’t feel equipped for. Factors to Consider When Outsourcing Property Management Back Office Services Selecting the right property management outsourcing services provider is a crucial decision that can significantly impact the efficiency, profitability, and overall success of your property management operations. Here are key factors to consider: 1. Range of services Evaluate the range of services provided by the outsourcing company. Check to make sure they offer the specific services you need, such as rent collection, maintenance, legal support, marketing, financial management, and resident benefits. A comprehensive provider can handle multiple aspects of property management, which can streamline your operations. 2. Industry experience Look for a provider with extensive experience in property management and a proven track record of success. They should have expertise in the specific types of properties you manage, whether residential, commercial, or mixed-use. Experienced providers are more likely to understand industry-specific challenges and deliver effective solutions for various situations. 3. Reputation Research the provider’s reputation within the industry. Check online reviews, testimonials, and case studies to gauge client satisfaction. A provider with positive feedback and strong references is more likely to deliver high-quality services. 4. Cost Evaluate the cost structure of the provider’s services. Compare their fees with the value they offer, as well as review how they bundle these services. While cost is an important factor, it’s essential to consider the overall value and benefits the provider brings to your property management operations. The goal is to achieve a balance between cost-effectiveness and high-quality service. 5. Customer service Effective communication is vital to successful outsourcing. Assess the provider’s responsiveness, transparency, and customer service quality. They should offer multiple channels for communication, ideally with a main point of contact, and provide timely updates on important matters. 6. Technology and innovation Assess the technology and software solutions the provider uses. Advanced property management software can enhance efficiency, improve communication, and provide valuable insights. Ensure the provider leverages the latest technology to offer seamless and efficient services. 7. Compliance and legal expertise Ensure the provider is well-versed in local, state, and federal regulations related to property management. They should be able to navigate legal complexities and ensure compliance with all relevant laws. This reduces the risk of legal issues and ensures smooth operations. How Thousands of PMCs Are Outsourcing Services for Better Resident Experiences Property management companies are always looking for new ways to generate value for themselves, their residents, and their investors. One of the quickest ways to scale and increase return on investment is to outsource property management services. At Second Nature, we’ve pioneered the first-ever fully managed Resident Benefits Package in order to support PMCs with just that goal. Our RBP provides services that residents are proven to pay and stay for – and our team manages every part of the process so property managers can focus on strategy, growth, or work-life balance. We’ve helped thousands of property managers transform their services and their operations with a customized RBP providing services they couldn’t do alone. Our goal is to make property management easier for PMs, residents, and investors – and drive value that benefits all three. We call it the Triple Win.

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9 Best Property Management Podcasts to Follow in 2024

As incredibly busy single-family and multifamily property managers, staying informed on the latest industry trends and resources on top of your ever-increasing list of to-dos can feel near impossible. But thankfully, there is now a wealth of excellent industry podcasts to do the hard work of staying up to date. All you have to do is tune in. Property management industry podcasts make it extra easy for you to gain insight, advice, and practical tips while commuting, cooking dinner, or working out. By listening to industry thought leaders and experts, you'll learn new ideas and perspectives on improving your strategies and ultimately growing your business. We've combed through all of the property management podcasts to find you the eight best ones. And we've made sure they meet the following criteria: The podcast's relevancy to your role as a single-family property manager – With so much information tailored to multi-use property managers, it can be hard to find industry insight into your particular challenges and industry issues. The caliber of the hosts and their guests – we looked for those run by reputable sources endorsed by trusted associations, organizations, and professionals in the property management business. Content quality and diversity of topics – We wanted to see that the podcast covered a wide spread of topics—from real estate investing to leasing challenges to tips like building your cash flow—and provided a well-rounded perspective on the industry. Actionable insights – We looked for podcasts that provided practical tips, strategies, and advice you can readily implement in your day-to-day work as a property manager. Length and accessibility – We all know how tiring it can be for a podcast to drone on and on. We looked for ones that were under an hour and were accessible, engaging, and even entertaining. 1. Triple Win Podcast The Triple Win Podcast is hyper-focused on the needs and challenges of single-family property managers. With each topic it addresses, The Triple Win Podcast looks at how property managers can create and monetize value for their company while also building strong working relationships. Its core focus is finding solutions that are a win-win-win for everyone involved—residents, real estate investors, and property managers alike. The Second Nature team hosts the podcast and invites experts across the industry to discuss topics such as using Practical AI for property management, turning customers into superfans, and tips for revenue building, annual goal planning, and more. The Triple Win Podcast is released twice a month and can be listened to here, and for more insights, subscribe to one of these property management newsletters. 2. Owner Occupied with Peter Lohmann Owner Occupied is an interview-style podcast. Each week, Peter Lohmann invites experts from across the industry to discuss the business side of property management. Lohmann covers super granular topics (like competing with the 3% management fee) and ones that look at the big picture (like how to know which opportunities to pursue and which to let go). Lohmann interviews experts such as Michael Girdley of the Complete HoldCo Course, Todd Ortscheid of Always There Repair, and Brandon Scholton of Key Renter Denver. The best part of this podcast is that Lohmann lists the time stamps in the description. So, if you don't have time to listen to the full interview, you can easily skip to the parts that most interest you. Find Owner Occupied on Spotify here and tune in weekly for valuable information and insightful interviews. 3. Property Management Business with Marc Cunningham Marc Cunningham of PM Build works tirelessly to help property managers build their people, profit, and processes. And he shares a wealth of industry tips in his podcast Property Management Business. Each episode is less than 30 minutes, making it incredibly accessible and easy to fit into your day. Marc brings an optimistic and grounded perspective to the industry, inspiring property managers to build strong working relationships with property owners, tenants, and realtors. He also encourages property managers to simplify maintenance and discover the industry's exciting future. Tune in for new episodes each month and be inspired to grow your business here. 4. The Profitable Property Management Podcast Do you love to hear success stories of non-stop go-getters? Well then, The Profitable Property Management Podcast is for you. The host, Jordan Muela, has worked in the industry for over ten years, started three businesses, hiked the Grand Canyon to raise money, launched two podcasts, and released the industry's first financial benchmarking study. And he brings all of that energy and expertise to his interview-style podcast. "This podcast is dedicated to the property manager entrepreneurs that refuse to settle in life and business," says Muela. And it's clear he's walked the talk. Tune in to his weekly podcasts on Apple, Spotify, or wherever you like to listen. He'll inspire you to find meaning at work, boost your profit margins, and stay resilient as you navigate the daily challenges of property management. 5. 300 to 3,000 300 to 3,000 is hosted by Matthew Whitaker and Spencer Sutton of Evernest. The episodes vary from 30 minutes to over an hour and a half, but because they are chock-full of tips for adding new properties to your portfolio, we decided to include it in our round-up. Evernest is a national property management company that grew out of necessity. When the 2008 economic crisis happened, Matthew Whitaker owned 30 investment properties he was desperate to sell but couldn't. Using all of their creativity and gumption, Matthew and Spencer launched their property management company. They have grown from the rockiest start to a thriving property management business that oversees 15,000+ properties across the U.S. Every week, Matthew and Spencer provide industry insight from an incredibly thoughtful perspective. They cover interpersonal dynamics (Episode 82: Trying to Build a Great Team? How Trust and Conflict are Essential), the emotional strain of property management (Episode 61: How to Find Clarity in the Middle of Painful Problems), and practical business tips (Episode 55: How to Grow Your Maintenance Department). Tune in here. 6. NARPM Radio The industry's most trusted association is the National Association of Residential Property Managers (NARPM). NARPM hosts conferences and trade shows, provides courses and webinars, advocates for policies that affect property managers, and offers ample networking opportunities for PMs. It's no surprise that their podcast is also an excellent resource. Twice a month, host Pete Neubig interviews different industry experts and provides invaluable insight into the various aspects of property management. Learn how to identify your business's core values, stay focused while growing your business, navigate property management taxes, and more. Connect with the organization on social media and catch the latest episodes here. 7. The Property Management Mastermind Show Like The Triple Win Podcast, The Property Management Mastermind Show focuses on single-family property management and is thus a valuable resource for those in that specific sector. Host Brad Larsen owns RentWerx, one of the fastest-growing property management companies in Texas. Brad brings his own hands-on experience to each episode and provides listeners with insight into the latest trends, best practices, tips for vendors, and more. Catch his weekly episodes here and take your property management strategies to the next level. 8. Property Management Brainstorm This podcast focuses primarily on maximizing your property value and raising your income while maintaining strong relationships with your tenants. Host Bob Preston brings his experience as a Silicon Valley technology executive to the property management space, guiding PMs on using the right technology and implementing effective operations to streamline and scale their businesses. Every week, Bob interviews other industry experts to help property managers think through business strategies and operations. Earlier this summer, Bob re-released our conversation on pest control in rental properties. It was such a delight to chat with Bob and I'm honored they have dubbed it one of their best episodes ever. Tune in to the full Property Management Brainstorm podcast here. 9. The Property Management Show The Property Management Show podcast, created by Brittany Stephens and Marie Liamzon-Tepman of Fourandhalf, Inc., breaks down the keys to business success with insights from industry experts. Launched in 2015, the podcast covers topics such as marketing strategies, industry innovations, and best practices for running a successful property management business. All content is based on the expertise of the folks at Fourandhalf, a marketing agency specializing in helping fee-based property management companies grow through services like website design, SEO, content creation, and online advertising. Catch show episodes here. Alright, there you have it—our nine favorite industry podcasts. We would love to hear which ones you enjoy the most and which ones you would add to the list. Happy listening!

Calendar icon September 30, 2024

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