Photo of Chris Masterson

Chris Masterson

Sr. Content Marketing Manager - Second Nature

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

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

Calendar icon August 21, 2025

Read more

Social Media Marketing for Property Management: A Comprehensive Guide

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

Calendar icon August 12, 2025

Read more

Topics

How to Measure and Improve Resident Experience

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

Calendar icon August 5, 2025

Read more

What to Know About Reusable Tenant Screening Reports

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

Calendar icon July 31, 2025

Read more

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

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

Calendar icon July 29, 2025

Read more

Receive articles straight to your inbox

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

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

Calendar icon July 24, 2025

Read more

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

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

Calendar icon July 8, 2025

Read more

How to Write a Property Management Proposal

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

Calendar icon July 1, 2025

Read more

Creating a Property Management Monthly Report to Owner Template

The relationship between property manager and investor can be a delicate one. Property owners want to know what’s going on with their investments, but property managers often work with enough clients that it’s not practical to field phone calls and email from each and every owner asking for details and updates. That’s where having a property management monthly report to owner template comes in. Providing a standardized monthly report to each of your investor clients is vitally important, not only because it saves time you’d otherwise spend answering phone calls, but also because it helps set expectations with clients. By templatizing your reporting, you’ll have more time to put into other areas of your business, while also creating happier, more confident clients. So what exactly needs to be in a monthly owner report? Let’s take a look. Key sections of a property management monthly report to owner template Property owners often have high expectations when they trust you with their assets. Your goal with a monthly report is to provide all the information they need to feel confident in your services and help them be successful in their real estate investment business. Here are some of the key elements you should consider including: Income and expense statement The income and expenses statement is a comprehensive financial report that details total income for the month, as well as monthly expenses. Both income and expenses should be broken out so that the owner can clearly understand the sources of each. For example, income might be broken down into: Rent Services Fees Amenities Expenses may be broken down into: Maintenance Utilities Property taxes Insurance This section of the report should help your owners better understand the cash flow of their property, as well as its profitability. Owner statement The owner statement should summarize owner payouts, property income, and reserve funds. This is different from the income and expense statement because it includes more information on the owner’s overall financial position and their reserve funds. Typically, that means it includes a beginning balance and end balance. It will also compare current reserve funds to any reserve targets that you’ve set with the client. For clients with multiple properties under management, the owner statement typically includes a breakdown for each property, as well as a summary page that consolidates them. Account ledger The account ledger, also sometimes referred to as the rent ledger or income ledger, shows a detailed record of all financial transactions related to the property. This is typically more detailed than the income and expense statement, and provides details for each and every transaction, including: Transaction date Amount of the transaction Category of the transaction Running total of the balance for each property Most property accounting softwares can export account ledger reports in a matter of seconds, making this one of the easier parts of a monthly report to generate. Occupancy and tenant turnover Your occupancy and turnover report should include: Current occupancy rates: the portion of units rented vs the portion vacant Resident turnover: how many leases have ended or been renewed Turnover time: how long it takes to fill a vacant unit Insights into leasing performance and stability Turnovers and occupancy are two of the biggest concerns for owners, who lose out on potential income for every day that a unit sits empty. Use this section to show how well your company handles vacancies and how quickly you can fill them in order to help prove value to your clients. Property description and condition The property description and condition section should highlight any significant changes, issues, or updates. For example, if you’ve recently performed maintenance, this section can highlight whether there have been any continuing problems or whether the issue is fully resolved. You can also include a summary of any recent inspection reports in this section. The goal here is to reinforce the property status and help your clients track the condition of their assets over time. Maintenance and repairs The maintenance and repairs section should highlight any completed work orders, as well as pending maintenance issues, along with a timeline of when they’ll be addressed. This section is particularly useful for helping owners better understand not just the condition of the property, but also the amount of work that goes into keeping it stabilized. Even seemingly small maintenance items should go on this list, because it also helps identify what items are recurring and might need further attention in the future. Monthly property management report best practices Now that you know what kind of information should be included in your monthly report to owners, let’s look at a few best practices you should be following. Use a standardized report format You should always use a standardized template for your reports, both month-to-month and across owners. By standardizing the process, it makes it much easier for your team to quickly assemble reports in a repeatable manner, rather than changing things up every month. Customizing reports for each individual client is one of the fastest ways to create complications and delays, so resist the urge to accommodate every single owner request in their reports. Establish a reporting cadence Make sure that you’re consistent with how often you’re sending these reports to your owners. It will help them better know what to expect, and it will also allow you and your owners to compare reports period over period. Having a fair comparison, rather than comparing apples to oranges, can help identify trends and adjust your behavior accordingly. Many property management companies send out owner reports monthly. If you’re just getting started, you can also consider quarterly or bi-monthly reports, and then work your way up to a monthly cadence as you build that muscle. Illustrate data with charts and graphs No one wants to try to make sense of a report that’s packed full of numbers but no visuals. Visualizing your data, especially occupancy rates, income breakdowns, and expense breakdowns, can help your owners more quickly understand where things stand, even just at a glance. Charts and graphs don’t only help your investors, they also help your staff. When a single property manager is responsible for tens or hundreds of doors, it’s important for them to be able to scan a large number of documents and look for any outliers, red flags, or items that need attention. Common mistakes in property management owner reports Building owner reports can seem pretty straightforward when you have the right tools at hand, but be wary of a few potential pitfalls and mistakes property managers often make. Financial mistakes One of the most consequential mistakes you can make is overlooking financial errors. With so many different tasks to handle, people do make mistakes inputting numbers. Monthly reporting is a great time to take a second look, see if anything doesn’t pass the eye test, and dig deeper to make any necessary corrections. Some key financial errors that are often made in reporting include: Failing to track an expense or income stream properly Failing to account for delayed rent collection Inaccurately recording owner payouts Failing to compare actuals to budgets or forecasts Some of these errors happen during the reporting process and can be quickly corrected, while others happen in your property accounting software and will need to be addressed there before you run reports. Communication and documentation issues The other major area where we see a lot of property managers slip up is in documenting and communicating data clearly. For many, owner reports are disorganized, unclear, vague, or difficult to read. For example, property condition, which is less cut and dry than something like a balance sheet, needs to be described clearly and specifically so that owners know exactly what is going on. Don’t describe the condition of a home as “aging,” “dated,” or “dingy.” Instead, be very specific about what items need to be updated, like carpeting, fixtures, or appliances. Outline clear recommendations like maintenance, cleaning, or updates. Reports also need to be comprehensive, meaning that they need to include as much available data as possible. Omitting data, even if unintentionally, can paint an inaccurate picture of the situation with a property, which can in turn create panic or tension with an owner. Finally, don’t forget to listen to and incorporate owner feedback where possible. As we outlined earlier, trying to customize reports for each individual owner can be a slippery slope that ends up taking up far too much time. That said, there are ways to collect feedback from multiple owners and incorporate the most popular suggestions in your template. Survey owners on how useful they find their reports and what you can add or remove to make them more effective. When you do make changes, make them for all owners, not just those who spoke up in their survey responses. Save more time with Second Nature If you’re looking to streamline your operations and save time, templated reporting isn’t the only way. Second Nature’s Resident Benefits Package can also save property management companies time and overhead by automating administrative tasks like pest control and renters insurance tracking Ready to learn how? Join our next RBP Workshop to hear from real property managers.

Calendar icon June 24, 2025

Read more

Property Management Marketing Automation: The 2025 Playbook

Time is a precious commodity in property management. With so many things to juggle, putting a focus on marketing and sales can feel nearly impossible. But neglecting your client acquisition strategy can cost you valuable opportunities. Property management marketing automation can help ramp up your communications with prospective clients and residents without overwhelming your already busy team. Making time for consistent, high-quality marketing efforts is essential for growth, as well as increased profitability. By automating marketing, you can connect with more investors and residents in less time with less effort. You can supercharge your go-to-market investments and see better returns more quickly. This post will cover what marketing automation is, why it’s beneficial for property management companies, and how you can start automating your marketing. What is property management marketing automation? Property management marketing automation is the process of using technology and software tools to manage marketing communications, lead nurturing, ads, social media, and other repetitive marketing tasks. It helps create more efficient processes, but also more personalized results. There are nearly endless ways that modern marketing automation can help, but here are a few examples: Social media marketing: You can create automatic workflows that post new listings to your social media channels as soon as they go live. You can also use automation to automatically post to your social pages whenever you receive a 5-star review from a customer. Or, if you just want more regular content, you can pre-write posts and use a scheduling tool to publish them later. Email communications: You can also pre-schedule email notifications or follow-ups, and even build entire email sequences to sell your services to prospective clients. Automation tools also let you customize these emails with the recipient’s name, company name, or property address without any added work. Surveys: You can automate when surveys are sent out based on other customer or prospect activities. For example, you can ask for feedback after a sales call, or after a move-in or move-out. You can also create automations that send requests for reviews to those who fill out the survey positively, helping to capture more glowing feedback. Lead qualification: Marketing automation tools allow you to qualify inbound leads based on the information the prospect puts into a form. For example, you can qualify or disqualify them based on the number or types of units they own, the ZIP code of their properties, or other criteria that’s important to you as part of your target client profile. How exactly you put automation to use depends on your marketing strategy and who you’re trying to connect with, but there are tools and techniques for every business. 5 key benefits of property management marketing automation The benefit of effective marketing is fairly simple: you get more opportunities to grow your portfolio. But marketing automation goes beyond that. Let’s take a look at how automating your go-to-market strategy can provide a variety of benefits. 1. More time to focus on high-impact activities Part of developing as a property management leader is getting your mind out of checklist mode and into strategy mode. When you start automating routine tasks in any part of your business, you start to give yourself the time necessary to focus on those strategic activities, In order to become more efficient, all small businesses need to embrace automation. For example, automating email communications to prospects can save you significant time on business development, which you can then spend upgrading systems or automating other functions. Keeping up with day-to-day marketing also frequently involves task switching. You may have to post on social media, email a couple of prospects, respond to a Google Review, and record a marketing video, all over the course of one day. That task switching is inefficient; if you can write all your social posts for the week in a single sitting and then schedule them out with automation software, you’ll save a lot of time. 2. Generate (and qualify) more leads Ultimately, acquiring leads is the primary goal of marketing. It’s how you expand your business and grow your portfolio. Automation can accelerate that process. Using webforms connected to an automation program, you can capture and qualify new leads instantly. When a potential client fills out the form, you immediately have key information about them, their business, and their portfolio, and you can use automated rules to determine whether they might be a good fit. If they are, you can enroll them in an email sequence that provides them more information about your company and encourages them to schedule a call with you. If they’re not, the automation tool can automatically send them a polite email stating that you don’t feel it’s a good match. Qualifying (and disqualifying) leads can help you focus on the highest-value prospects, rather than spending your time on leads that won’t be profitable for you. Advanced automation strategies can also use lead scoring, which weighs different attributes and behaviors to determine whether someone’s likely to become a customer. Segmentation is also key. For example, you can set up different communications for companies that own single-family homes and those who own multi-family buildings, with customized messaging for each portfolio type. 3. Maintain your brand presence Automation also provides more consistency in your marketing efforts, which can present a more trustworthy brand across all channels. For example, if you’re only posting intermittently on LinkedIn, some prospects may see that as less professional. With automation tools, you can post more regularly and give a more consistent appearance. Consistency is particularly important for property managers because, in many ways, it’s a core tenant of the job. Investors want to know that they can count on you to be consistently responsive and proactive in managing their assets. And, in a world where many property owners see management services as very commoditized, a strong brand presence can help you differentiate your business. In areas with a lot of management competition, this can be the difference between winning and losing a deal. 4. Personalize communications for stronger relationships While it may sound counterintuitive, automation can also help your communications feel more personal and help you build more meaningful relationships. Think about some of the marketing communications you receive on a daily basis. Maybe you get emails from a clothing store with recommendations of items you’d like based on your previous purchases. Maybe it’s a take-out restaurant texting you to let you know your favorite dish is discounted this week. Marketing automation can help you reach the same level of personalization. Modern marketing tools can help you tailor communications based on resident or investor preferences and their past behaviours, which can lead to higher engagement with your content and increase the likelihood of getting a positive response. 5. Gain invaluable data-driven insights Most marketing automation platforms also provide detailed analytics and reporting, not just automation. That means that property managers can leverage robust data to make better decisions and get more value from their marketing efforts. For example, if you have data that shows one email nurture program gets more opens and clicks than another, you can divert more leads to the high-performing option, and prioritize revising the low-performing cadence. If you know that it typically takes a prospect a month from the time they first visit your website to the time they request a meeting, you can better estimate your future pipeline based on web traffic. In the era of big data, being able to see objectively how your marketing investments are performing is essential. 5 ways to automate property management marketing tasks (with recommended tools) Because there are so many different tools available that execute so many different tasks, the possibilities for marketing automation are virtually endless. Let’s look at a few ways to properly automate your tasks and set you up for go-to-market success. 1. Lead generation and nurturing Lead generation and nurturing is the process of gaining someone’s initial interest in your services, and then providing them with valuable content and information that helps convince them to work with you. There are plenty of marketing automation platforms designed for just about any type of small business. However, there are also lead generation and nurture functions in many property management accounting softwares, like Buildium, AppFolio, and Rentvine. These are particularly advantageous because they integrate directly with the rest of your daily operations and don’t require adding a whole additional tool to your tech stack. There are also automation tools designed specifically for the property management industry, like LeadSimple. LeadSimple integrates with the most common property accounting software tools and includes tools like AI-powered communications. 2. Email marketing Email marketing can be as simple as sending a single message to a handful of contacts, or as detailed as a multi-touch email sequence based on interactions across your website, emails, and social media channels. Some of the most common use cases for property managers are lease renewal notifications and new resident welcome messages, but email marketing can do a whole lot more. For example, you can set automated emails so that when someone watches a video on your website, they receive an email the next day with recommended follow-up content. This can keep them engaged and aware of your company while also providing value, rather than just asking for a sales call. There are plenty of popular email automation tools out there—MailChip, ActiveCampaign, and Klaviyo are among the most popular—so we recommend shopping around. For smaller property management companies, it may make sense to be budget-conscious. For larger companies, you may be able to take advantage of some of the more advanced features, so opting for a more enterprise-oriented tool could be worthwhile. 3. Social media marketing Most property managers already realize the importance and power of social media, but many are still posting manually without an overarching strategy. Modern social media tools can help you schedule out your posts, and some can even provide recommendations for the best days and times to publish new content to maximize engagement. Automation tools can also syndicate content across multiple platforms, like LinkedIn, Facebook, Instagram, and TikTok, all with just one button click. Some of the most commonly used social media tools include Buffer, Hootsuite, and Sprout Social, which all offer similar feature sets. We also recommend pairing them with Canva, a simple web-based tool for creating graphics, images, and short videos for social media. We use Canva here at Second Nature, and it offers built in templates for all different social media platforms to make sure your images are the right size and resolution for each channel. You might also like: Property Management Companies that are Winning on Social Media 4. Reputation management Reputation management is a critical but often overlooked piece of the marketing equation for small businesses. Especially in people-focused businesses like property management, your reputation can be make or break when trying to connect with new clients. Reputation management is the process of curating the way that you’re talked about on the internet, in person, and at industry events. It’s how your audience thinks and talks about you to others. Reputation management tools are focused primarily on managing, responding to, and collecting customer reviews across various websites like Google Business, Facebook, and Yelp. Birdeye and Reputation.com are two of the most popular reputation management tools, both of which offer AI-powered tools to flag negative reviews and determine the tone and intent behind them, as well as craft recommended responses to those reviews. 5. Property listing syndication Property listing syndication is the process of sharing new vacant properties across multiple channels, all with the click of a single button. For example, you may choose to post all of your listings across Zillow, Trulia, and Homes.com. A syndication tool can do this automatically as soon as you publish a vacancy. Many property accounting softwares include basic syndication functionality. If you’re looking for more advanced options, tools like ShowingHero and Tenant Turner help automate the process of listing vacant properties, scheduling showings, and managing communications with prospective residents across several different sites. Grow your property management business with Second Nature Just as marketing automation frees up more time for you to focus on high-impact, strategic activities, outsourcing resident benefits can also create room for growth. In particular, outsourcing the management of renters insurance, pest control, and air filters can minimize service calls and maximize flexibility for your team. For more information on building a Resident Benefits Package that can give you the flexibility to get strategic, request a demo today.

Calendar icon June 19, 2025

Read more

Property Management Guide for Foreign Investors

A property management guide for foreign investors should do more than explain the basics—it should help you navigate the U.S. market with clarity and confidence. Whether you're new to U.S. real estate or expanding your portfolio, managing property from abroad requires a firm grasp of legal compliance, maintenance, insurance, and tenant communication. This guide covers everything from legal and tax compliance to maintenance, renters insurance, and choosing the right property management model. You'll learn how to manage your investment effectively from abroad, no matter your experience level. Why U.S. real estate is attractive for foreign investors The United States real estate market stands out for its economic stability, transparent legal system, and strong rental demand. Foreign investors are drawn to the US for several reasons: Economic stability and growth potential The United States has one of the world’s largest and most resilient economies, marked by steady growth, low inflation, and a strong labor market. This macroeconomic stability makes U.S. real estate a compelling option for foreign investors seeking consistent returns and long-term value. High-growth metro areas such as Austin, Miami, and Charlotte offer especially strong potential, driven by population growth and business development. For international buyers, these trends create opportunities in appreciating markets with relatively low risk. Transparent legal system The U.S. offers a clear and enforceable legal framework for property ownership. Federal and state laws protect investor rights, and the process for property transfers, title registration, and lease enforcement is well-structured. This transparency reduces legal uncertainty, giving foreign investors confidence that their assets are secure and their contracts will be honored. Diverse property options The U.S. real estate market offers a range of investment types to suit different goals and budgets. From single-family homes in the suburbs to multi-family buildings in urban centers, and even vacation rentals or commercial properties, investors can tailor their strategy to match their income objectives—whether that’s stable long-term tenants, short-term rental income, or value-add renovations. Strong rental demand Rental demand in the United States remains high due to a growing population, rising home prices, and changing lifestyle preferences. Key states, including Texas, Florida, and Georgia, see particularly strong demand where vacancy rates are low and rental income is steady. The shift toward remote work has also expanded demand into non-urban markets, creating new opportunities for investors looking outside traditional city centers. Favorable financing opportunities Many U.S. lenders offer mortgage products tailored to foreign nationals, often without requiring a U.S. credit history. These loans typically come with competitive interest rates and reasonable down payment requirements. This access to financing allows foreign investors to leverage their capital, scale portfolios efficiently, and preserve liquidity for other investments. These factors create an environment where international investors can find both security and opportunity. Getting started If you are new to U.S. real estate, these foundational steps will prepare you for a smoother investment process. Identify your investment goals Clarify what you want from the property: steady income, long-term appreciation, or short-term rental returns. Your objective will shape your property choice, management approach, and level of involvement. Research U.S. real estate markets Some cities offer stronger rental yields; others promise better long-term value. Look for areas with population growth, job creation, and housing demand that align with your financial goals. Choose an ownership structure Decide whether to buy as an individual or through a legal entity like an LLC. This affects taxes, liability, and estate planning. Work with a real estate attorney for the best structure. Set up U.S. banking access A U.S. bank account streamlines rent collection, expenses, and tax payments. Some banks offer remote account setup; others may require a local contact. Legal and tax compliance for foreign investors Foreign buyers must comply with both federal and state regulations, which can vary significantly and aren't always intuitive. Proper planning helps avoid delays, penalties, and lost income. FIRPTA and federal tax obligations The Foreign Investment in Real Property Tax Act (FIRPTA) requires up to 15% of a property's sale price to be withheld when a nonresident sells U.S. real estate. This covers potential capital gains tax and must be reported to the IRS. Without advance planning, FIRPTA can delay or reduce sale proceeds. State-specific rules and property taxes States have their own laws for lease terms, eviction timelines, and property taxes. These often differ from federal rules and vary across states, requiring localized knowledge for compliance. Common pitfalls and penalties Foreign investors must file annual tax documents even with minimal property activity. Missing filings or mishandling FIRPTA rules can result in penalties or transaction delays, especially during sales or refinancing. Plan ahead and get expert help Work with professionals who specialize in cross-border real estate. Experienced legal and tax advisors help you stay compliant and avoid costly surprises. Renters insurance compliance: protecting your investment Renters insurance is a key risk management tool for foreign landlords managing properties remotely. While most U.S. states don’t require it by law, many landlords include it in lease agreements to protect both the residents’ belongings and the property itself. This coverage can help mitigate losses from fire, theft, water damage, and other unexpected events. Requiring renters insurance reduces liability, minimizes disputes, and ensures residents have coverage when needed. For international investors unable to respond quickly to on-site incidents, this added protection is especially important. Unique challenges for international investors Managing renters insurance compliance from abroad comes with added complexity. Common challenges include: Enforcing lease requirements remotely Without a physical presence, it can be difficult to confirm whether residents have secured renters insurance before move-in or are maintaining coverage throughout the lease term. Tracking policy renewals and coverage gaps Manually monitoring insurance expiration dates or lapses in coverage is time-consuming, especially across multiple properties and residents in different time zones. Navigating varying state-level regulations Insurance requirements and landlord-tenant laws differ by state, making it harder for international investors to ensure compliance across jurisdictions. Without clear systems in place, these issues can increase liability, lead to uncovered losses, and reduce visibility into resident compliance. Making renters insurance enforcement easy from abroad Foreign investors can take several practical steps to manage renters insurance effectively: Include insurance as a lease condition for all residents Make renters insurance a non-negotiable requirement in every lease agreement. This sets clear expectations upfront and helps ensure consistent protection across all units. Request digital proof of coverage before move-in Require residents to submit documentation confirming their policy is active before they receive keys. This creates a clean paper trail and closes gaps before they become liabilities. Use property management software to automate reminders and track active policies Property management platforms can automatically send renewal reminders, flag lapses in coverage, and store policy documents in one place. This reduces manual work and improves visibility. Automating these processes not only reduces risk but also saves time and ensures consistency across your portfolio. Maintenance management: handling repairs from abroad Managing property maintenance remotely can be challenging due to time zone differences, language barriers, and unfamiliarity with local vendors. However, with the right systems, you can ensure your property remains in top condition: Establish a local support network A reliable property manager or maintenance coordinator can act as your local representative. They handle day-to-day issues, coordinate repairs, and have trusted vendor relationships, ensuring tasks are completed quickly and properly. Use technology to stay informed Property management platforms let you approve and track maintenance requests remotely. Residents can report issues through mobile apps, and some platforms provide photo or video updates so you can verify progress without being on-site. Set clear protocols Document your maintenance preferences—such as what counts as an emergency, cost thresholds for approvals, and preferred vendors. Share this with your team to avoid delays and confusion when issues arise. Understand local conditions Familiarize yourself with common property issues in the area, as well as weather patterns and local building codes. This helps you prioritize preventative maintenance and avoid costly repairs later. Keep communication open Maintain regular contact with your property manager and ensure residents can reach someone at all times. Messaging apps and video calls help bridge time zone gaps and keep everyone aligned. With solid systems and local support, you can manage repairs confidently, without needing to be there in person. Choosing the right property manager Selecting a trustworthy property manager is one of the most important decisions for foreign investors. With limited ability to be on-site, your property manager becomes the primary point of contact for residents, vendors, and compliance issues. The right partner will not only maintain your property but also act as a local representative—ensuring lease terms are enforced, repairs are handled promptly, and legal requirements are met. Look for someone with experience serving international clients, a reliable process for remote communication, and a strong compliance track record. Questions to ask a property manager: How do you communicate with overseas clients? What is your experience with compliance for foreign investors? Can you provide references from other international clients? How do you manage rent collection and maintenance remotely? What technology platforms do you use for property oversight? Property management models: which is right for you? Foreign investors have multiple options when it comes to managing their rental properties. Choosing the right model depends on your budget, time availability, and comfort with local operations. Full-service management This is the most hands-off option. A local property manager handles leasing, maintenance, resident communication, and legal compliance. It’s ideal if you want minimal involvement and consistent oversight, but it comes at a higher cost. À la carte With this model, you outsource specific tasks—like rent collection, repairs, or tenant screening—while managing the rest yourself. It offers flexibility and cost control, but requires a deeper understanding of the local rental process. Self-management with remote tools Use digital platforms to automate everything from tenant communication to maintenance tracking. It’s cost-effective and gives you full control, but it works best if you have trusted local vendors and are comfortable handling issues across time zones. How Second Nature adds value for foreign investors Second Nature offers tools and services to help international property owners manage rentals with less friction and greater visibility. From automating key tasks to improving resident retention, these solutions make remote property management simpler and more reliable. Built-in compliance tracking Stay ahead of renters insurance requirements with a fully-managed insurance program that automatically enrolls residents in a lease-compliant policy if they don’t already have coverage. Tenant experience tools Provide consistent communication and added conveniences that help keep residents happy and reduce turnover. Ready to simplify how you manage U.S. properties from abroad? Schedule a free demo to see how it works in action.

Calendar icon June 10, 2025

Read more

Top Property Management Dashboards for 2025

Time management is a critical skill for success as a property manager. You need to balance operational tasks with efforts that build stronger relationships with both residents and investors. But when your admin workload becomes overwhelming, you have less time for strategic problem solving. That’s when a property management dashboard can help. A property management dashboard helps property managers reduce admin tasks, gain visibility into operations, and free up more time for creating the best resident experience. In this post, we’ll cover the benefits of a property management dashboard, five top dashboard tools to consider, and additional technology that can help you attract and retain residents. What is a property management dashboard? A property management dashboard is a centralized hub for analyzing and managing property data and operations. Most dashboards allow property managers to view and compare property KPIs, automate reporting, and track resident-related metrics. Some property management dashboards also include maintenance workflow analytics. Benefits of a property management dashboard An independent owner with a single rental home probably doesn’t need software to track the performance of that asset. But if you’re a property manager overseeing a large portfolio, you need software that helps you stay on top of everything. Here are some ways a property management dashboard helps busy property managers: Resident analytics With a property management dashboard, you can easily track occupancy rates and resident retention rates for every property. Most dashboards integrate lease data, which makes it easy to run reports on renewals and resident LTV. Financial insights You can use property accounting software to set up separate dashboards for corporate and property financials. For example, on the corporate side, you might want to see the total value of your portfolio, revenue by market, or operational expenditures. For specific properties, you might configure your dashboard to show delinquencies, losses due to vacancies, and marketing spend per new resident. Maintenance workflows Many property management dashboards include tracking and automation for resident maintenance requests. The best property management maintenance dashboards include automated alerts you can customize based on the urgency of requests, work order status, and unresolved or repeat tickets. Dashboards with maintenance workflow automation usually offer reporting features, too, so you can review response times and identify maintenance trends with specific units or properties. 5 Top property management dashboards If you want to ramp up efficiency in 2025, you might find your solution in one of these platforms: 1. AppFolio Best for: Report templates AppFolio includes customizable report templates for every aspect of property management, including balance sheets, owner statements, and delinquency records. You can store reports, compare them to see YoY performance metrics and financial data, and easily export reports for stakeholders. Remove resident friction about past-due rent by automating late fee notifications and customizing late fees in bulk or by use case. Use AppFolio Alpha to track NOI, lease expiration, LTV, and other essential KPIs. Key features: Inspections and unit turns visibility Integrations with RentCheck, Tenant Turner, and other property management apps Mobile app Universal search 2. Rentvine Best for: Detailed reporting Rentvine offers a suite of features that help property managers analyze business performance. Its user-friendly, widget-based property management dashboard makes it easy to configure and adjust reports based on property location, key metrics, and other factors. You can use the Rentvine dashboard to manage and sort maintenance requests by status, see vacancies and past-due rent by property, and export reports for owners. Key features: Automated recurring reports Unlimited report tags (ZIP Code, tax zones, county, etc.) Granular user roles and permissions Custom personalized notifications Custom report fields 3. Buildium Best for: Industry benchmarking Buildium’s Analytics Hub lets property managers compare their properties to industry benchmarks on turnover rate and losses due to vacancy. You can also customize your Analytics Hub main dashboard to include the most relevant data, whether that’s leasing info or stats on resident portal usage. Deep integration capabilities with sites like HotPads, Zillow, and Apartments.com help you manage and track listings from a single platform and identify potential leads based on user property searches and locations. Key features: Open API for custom integrations Automated bookkeeping and collections Work order management Automated pre-qualification for showings Resident and company accounting reporting 4. Yardi Best for: Work order management Yardi makes a wide range of products for property management and other industries. Yardi Breeze is its app specifically for small to mid-size residential property management companies, and it combines financial operations tools and property management insights in a single dashboard. Use Yardi to automate workflows for move-ins, move-outs, work orders, and more—all from your mobile device. You can enhance the app’s capabilities with the Yardi Multifamily Suite, which includes marketing analytics, revenue management, and forecasting features. Key features: Performance analytics Google-style search functionality Live and online training Workflow automations Numerous add-ons for additional functionality 5. Propertyware Best for: Owner reports Propertyware’s property management dashboard lets you convert property data into pie charts, graphs, and other design elements to populate reports. These visual aids help busy owners focus on the most important details and assess property performance. With Propertyware, you can set up a property location, clone it, and customize it for other property locations. Then you can configure your property dashboard to show you one or more locations and compare KPIs across locations. Key features: Open API for custom integrations Lead management (with optional add-on) Detailed analytics Maintenance tracking Automated screening How to deliver the ultimate resident experience A property management dashboard gives you more time for nurturing resident relationships, and with some extra support, you can offer residents an irresistible benefits package. Second Nature integrates with leading property accounting software to enable resident credit building for timely rent payments, identity protection, and no-stress utility setup and move-ins. Best of all, Second Nature manages all resident benefits for you—from a rewards program that incentivizes renewals, to on-demand pest control. Discover how top property management companies drive growth with Second Nature, and see how Second Nature can help you.

Calendar icon June 9, 2025

Read more

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

Read more

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

Read more

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

Read more

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

Read more

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

Read more

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

Read more

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

Read more