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9 Ways to Improve Your Resident Experience

Resident experience is the sum total of interactions and experiences a resident has with their property manager and the rental property itself – from the initial lease signing to the eventual move-out and all the day-to-day living moments in between. It encompasses everything from the quality of services provided, like timely maintenance and communication, to the overall livability and enjoyment of the property. In essence, it's how a resident perceives their rental journey in its entirety. Excellent resident experience management is the mark of a top-tier property management company. It boosts resident retention, satisfaction, and outcomes. In this article, we delve into nine actionable ways to enhance the resident experience in your single-family rental properties, fostering stronger relationships and, ultimately, achieving greater success in property management. Read the full report! If you haven’t already heard, we recently published our first-ever State of Resident Experience Report, which explores resident experience management: the pivotal touchpoints between a resident and a property manager. The report draws fresh insights from the SFR property management industry and explores the three top factors impacting resident experience right now. 1. A Seamless Move-In Experience Ah, the move-in process – the start of a beautiful friendship between the resident and the property manager. It's a bit like a first date – you're setting impressions that could make or break the relationship. A seamless move-in experience is your chance to roll out the red carpet for your new residents, showing them they've made the right choice (and have definitely swiped right on the best property around). And guess what? A resident who's had a great move-in experience is a happier one. Happier residents stay longer, pay on time, take care of the property, and make positive recommendations. Resident experience examples: How to build a perfect resident move-in experience Here's how to ensure your move-in experience hits all the right notes. Clear Communication: Provide detailed information about the new home and move-in process, including key collection, utility setup, and property rules. Who's handling utilities? Where's the best pizza joint nearby? Share all the important details. Welcome Packet: Roll out the resident red carpet with a welcome packet. Not only does it have all the must-know info, but it also says, "Hey, we're glad you're here." Include essential information such as garbage collection days, rules, important contact numbers, and a neighborhood guide. Property Readiness: Nothing dampens spirits like a flickering light on the first day. Ensure the property is thoroughly cleaned, all appliances are working, and any previous damages are repaired before the move-in date. Efficient Paperwork: Let's face it, nobody loves paperwork. Make it painless with easy online forms and digital sign-offs. Personal Touch: A little welcome gift can go a long way. It's like saying, "Welcome home, neighbor. We're going to rock this thing." Second Nature’s Resident Benefits Package includes a Move-in Concierge to ensure the process is seamless and personal. 2. Responsive Communication In the symphony of successful property management, responsive communication is your melody. It's the backbone of a harmonious resident experience, and when done right, it can elevate your property management status from “forgettable” to “virtuoso.” The sooner you respond to your resident’s queries or concerns, the more they'll feel valued. And a valued resident is a happier resident. Remember, good communication isn’t just about speed—it’s about clarity too. It's like being a great tour guide in the bustling city of property management—clear, informative, and always ready to help. Ways to improve communication with your residents Let's explore some best practices: Multiple Channels: Embrace the digital age! Offer various communication channels like emails, text messages, phone calls, and even a resident portal. Variety is the spice of life, right? Be Proactive: Don’t wait for your residents to reach out with issues. Regularly check in and ask if they need anything. Set Expectations: Be clear about your communication protocols. Let your residents know when and how they can reach you and when they can expect a response. No one likes to be left on read! Listen Actively: When your residents speak, lend them your ears! Show understanding and work collaboratively towards solutions. It's a two-way street, after all. Be Respectful: Always communicate with respect and professionalism. Treat your residents the way you’d want to be treated – it’s the golden rule, even in property management! 3. Better Maintenance Services with Quick Response Times Think of maintenance services as the superheroes of the property management world. When done right, they swoop in to save the day, ensuring minor issues don't escalate into supervillain-sized problems. Quick response times? That's your superhero's super speed. The quicker the response, the happier your resident, and the safer the day. How to improve maintenance services and response times Here's how to get your property management cape (sorry) flapping in the wind: 24/7 Maintenance Line: Offer a dedicated line for maintenance requests. To belabor our superhero analogy, it’s like having a bat signal for your tenants – they know help is just a call away. Online Reporting: Make it easy for tenants to report issues. An online system can keep things organized and ensures no request gets lost in the shuffle. Prompt Follow-up: Act swiftly on maintenance requests. Even if you can't fix the issue immediately, acknowledging the request and providing a timeline can ease the resident's mind. Regular Inspections: Regular property inspections can help you catch potential issues before they become major headaches. It's all about that ounce of prevention! Trusted Vendors: Work with reliable and professional vendors who provide quality work in a timely manner. They're your sidekicks in maintaining property harmony. 4. Resident Surveys and Active Feedback Gathering Resident surveys and feedback gathering are your property's annual check-up, a key health indicator for your relationship with residents. These invaluable tools allow you to take the pulse of resident satisfaction, uncover hidden issues, and celebrate what's working well. When residents see their feedback being valued and acted upon, it creates a sense of involvement and community, enhancing their overall living experience and driving resident retention. Importantly, active feedback gathering shows your residents that their voices matter. It instills a sense of ownership and care that can often lead to better property care and longer tenancies. How to turn resident feedback into a better resident experience Here are some ways to champion feedback in your property management: Regular Surveys: Don't just wait for the annual survey. Keep the feedback coming in regularly, like a monthly check-in or a quick poll after a service call. It's like catching up over a virtual cup of coffee – relaxed and informative. Feedback Boxes: Consider setting up a digital feedback box where residents can drop their thoughts, ideas, or concerns anonymously. Think of it as your modern suggestion box. Act on Feedback: Here's the real deal – taking action. Show your residents that their feedback isn't just being heard, it's being actioned. 5. Resident Rewards Resident Rewards are a huge factor in resident retention and satisfaction. Rewards make residents feel appreciated and have proven to incentivize habits like on-time payments and better care for the property. Perks like this can significantly boost resident satisfaction, increase lease renewals, and even stimulate referrals. It's a win-win all around! For multifamily and apartment community managers, that might look like community-focused programs. For single-family property managers, we’ve got some other tips. Second Nature’s Resident Benefits Package includes a robust resident rewards program. How to improve the resident experience with resident rewards Here's how you can sprinkle some rewarding magic into your resident experience: On-Time Rent Rewards: Create a system that rewards residents for consistently paying their rent on time. It could be a small discount or a gift card to a local coffee shop. Longevity Rewards: Celebrate lease renewals or long-term residents. A gift, a discount, or even a personalized note can make your residents feel valued for their loyalty. Referral Rewards: Turn your residents into ambassadors! Offer a discount or a bonus for any referral they make that signs a lease. Surprise Rewards: Keep the excitement alive with occasional surprise rewards. It could be as simple as a movie ticket or a voucher for a free car wash. 6. Incentive Programs Incentive programs are the next level of resident engagement that professional PMs offer. They can positively influence resident behavior, promote a sense of belonging, and even enhance your property's appeal to prospective residents. When residents feel that their good habits (like timely rent payments) are being recognized or they're being offered valuable services (like credit reporting or identity protection), it builds loyalty and satisfaction. It's like saying, "We're in this together, and we've got your back!" How incentive programs can boost the resident experience Here's how to serve up a great menu of incentives for your residents: Credit Reporting: Offer a program that reports timely rent payments to credit bureaus. It's a win-win: they pay their rent on time, and they build their credit! Identity Protection: In a world where digital safety is paramount, offering identity protection services can be a powerful incentive. It's like providing an invisible, protective bubble around your residents. Rent Discount for Referrals: Encourage residents to become your ambassadors. Offer a rent discount or a gift for successful referrals. It's like having your very own fan club. Early Payment Incentives: Reward residents who pay their rent well before the due date. It could be a small discount or a token gift, but it makes them feel appreciated. Rewards for Green Habits: Encourage residents to adopt environmentally friendly habits, like recycling or energy conservation, and offer incentives for their green efforts. This can really help in SFR when you don’t have the same level of control as PMs managing an apartment building. 7. Support Tools Support services work behind the scenes, often unnoticed, but they play a crucial role in streamlining the resident experience. From filter delivery subscriptions to online payments, these services add a layer of convenience and assurance for your residents. Integrating support services into your property management strategy can not only elevate resident satisfaction but also reduce your workload. It's like having a friendly assistant who's always ready to lend a hand, both to you and your residents. How to create support services that add convenience to your resident experience Here are a few ways you can amplify your resident experience through support services: Filter Delivery Subscription: Offering a filter delivery service for your residents ensures their HVAC system is always protected. It reduces your maintenance issues and costs and ensures they have a safe living environment. Second Nature’s filter delivery reduces resident and PM costs by hundreds of dollars a year. Online Rent Payment: Providing an easy-to-use online portal to process and automate rent payments and lease renewals adds a layer of convenience for you and your residents. Maintenance Request Portal: An online system for maintenance requests helps keep track of issues and ensures timely response. It's like having a 24/7 maintenance desk at their fingertips. Digital Notifications: Use email or SMS notifications to keep residents updated about important things like maintenance schedules, community events, or changes in property rules. Proptech solutions can help with digital support. Resident Portal: A comprehensive resident portal where tenants can access services, find information, and connect with management can significantly enhance the overall resident experience. 8. Concierge Services Concierge services are the above-and-beyond offerings that can truly set your property apart from the rest. This personalized attention can transform the often stressful processes into a smooth and enjoyable experience. How concierge services help with resident experience Here are some other examples of concierge services: Move-in Concierge: Who doesn’t want a personal assistant during the often chaotic time of moving? A move-in concierge helps with utility setup and pricing comparisons and provides local area information. Learn more about Second Nature’s Move-in Concierge in our Resident Benefits Package. Cleaning Services: Offering access to trusted cleaning services, whether for regular use or during the move-out process, can be a huge convenience. Maintenance Scheduling: A service to help residents schedule routine maintenance can keep their homes running smoothly without them having to worry about coordination. 9. Insurance While, as a property manager, you carry insurance for the physical property, it's equally important for your residents to have renter's insurance. Your coverage protects your owners' real estate investment. Renter’s insurance protects residents’ personal belongings and covers them for liability, and it's a small investment for significant protection. Plus, in case of a mishap, it can help the recovery process go much more smoothly. Resident experience examples: How to leverage a renter’s insurance program Here's how you can integrate insurance into your resident experience: Educate Residents: Make sure your residents understand the importance of renter's insurance, what it covers, and what it doesn't. This is critical information that every renter should know. Insurance Requirements in Lease: Include a clause about renter's insurance in your lease agreement. This helps to set the expectation right from the start. Annual Reminders: Send out annual reminders for policy renewals. It's a small step, but it ensures continuous protection for your residents. Renter’s Insurance Program: While most property managers require insurance, less than half of renters maintain coverage. Second Nature has developed a renter’s insurance program that has 100% compliance and leaves residents – and you – with the coverage they need. How SecondNature Improves Resident Experience Resident experience – those pivotal touchpoints between a resident and a property manager – can significantly shape the success of a single-family rental home. At Second Nature, we’ve built our entire company on the idea that resident experience can change the game in property management. Our Resident Benefits Package wraps up each of these strategies into an all-in-one resource for property management companies. It saves money for you and your residents and delivers the best in convenience and resident experience. Learn more about the Resident Benefits Package or read our State of Resident Experience Report.

Calendar icon July 18, 2023

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What is the Triple Win Leadership Council? | RBP by Second Nature

Building an aligned future where every home is professionally managed. ‍ Disclaimer: Everything you see here is a living draft of the TWLC vision. This outline should be seen as a starting point, and we want to invite you to co-create what this really becomes. The initial TWLC commitment is for Phase 1 only. You can decide what your involvement looks like after July's In-Person Design Summit. ‍ WHO IS ON THE TRIPLE WIN LEADERSHIP COUNCIL? Trusted Property Managers. Key opinion leaders, entrepreneurs, and exceptional operators in the industry. Forward-thinking Leaders. Passionate about thinking differently, creatively, and pushing industry norms in innovative ways. Philosophically Aligned. Believers in the Triple Win approach, making property management better for residents, investors, and teams. WHAT ARE THE PURPOSE AND VISION? The Triple Win Leadership Council (TWLC) empowers property management professionals to build a future where every home is professionally managed, to the benefit of residents, investors, and teams. The TWLC will act as pioneers and stewards, so that the gap between outcomes and experiences professionals create is further distanced from those accidental landlords can create on their own. This makes professional management more attractive to more people and forces a choice instead of a comparison. Three guiding questions: - How do we build an experience so good, residents never want to leave? - How do we build an experience so good, investors never want to sell? - How do we build an experience so good, talent wants to grow in this industry? HOW WILL THE TWLC INFLUENCE CHANGE? The TWLC will set the "P.A.C.E." for positive, sustainable industry change through: - Shaping innovative Products - Spotlighting success with the Triple Win Property Management Awards - Co-creating conversation-inspiring Content - Transformational, connective Events CALENDAR & COMMITMENTS Phase 1: Formation DECEMBER 14, 2022: 60-MINUTE VIRTUAL KICK-OFF CALL FEBRUARY, 2023: 2-HR QUARTERLY STRATEGY SESSION MAY, 2023: 2-HR QUARTERLY STRATEGY SESSION JULY, 2023: IN-PERSON DESIGN SUMMIT (LOCATION TBD) Phase 2: Develop AUGUST, 2023: We will define this together. Phase 3: Scale To apply for TWLC Membership, click here. Apply Today If you would like further information or to ask questions directly, please contact: Laura MacMinn, Triple Win Event Coordinator, Second Nature Email: lmacminn@secondnature.com

Calendar icon November 17, 2022

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Property Management and The Experience Economy

What is an experience economy and why is it relevant to single family rental property management? There are 3 questions driving the future of value creation in professional property management. How do we create an experience so good, residents never want to leave? How do we create an experience so good, investors never want to sell? How do we create an experience so good, talent wants to be in this business forever? The word experience is key. Whoever creates the best experiences will create the most economic value as the service side of property management becomes commoditized. In Joe Pine’s book, The Experience Economy, he reveals a critical insight that transcends real estate to other industries. It’s about the staging of value creation through the lens of commoditization and customization. In today’s highly competitive world, companies often focus solely on process improvement, optimization, cost-cutting, and driving efficiencies. While these are critical to remain competitive and improve margins, they are the playbook of a game that ends with operating a low-margin commoditized business. Some business leaders even talk about their industries being commoditized as a badge of honor. Interestingly enough, that thinking is self-fulfilling; by not focusing on creating higher-value offerings, they are riding the train to commoditization.History contains many examples of innovations so groundbreaking they captivated people and led the way for economic prosperity. Artificial light, telecommunications, automobiles, to name a few. While these were all once higher-margin innovative offerings and the most attractive businesses to be in, they have grown to be stale and competitive industries, forced to compete on price, leading to lower profits and company value relative to size. For example, Ford and GM, once praised as innovators in manufacturing goods, are now in a sea of competition and worth a mere 0.4x revenue at the time of this writing. The Experience Economy dives into these macroeconomic trends and shows the change over time in their Progression of Economic Value chart. The macroeconomic trends demonstrate how we have gone from extracting commodities to making goods to delivering services to, finally, staging experiences as the current primary driver of economic growth. One of the many great examples included in the book is the staging around birthday party: A birthday party at home that consisted of a cake and celebration requires the commodities, flour, sugar, butter etc.. to make at a cost of <$0.10. Then companies began offering “cake mix” which was more convenient that cost $1.00, followed by bakeries making the whole cake as a service for $15, and now, people outsource the whole birthday party to a venue like Dave & Busters or a party planner. There’s a party, invitations, custom napkins, entertainment, and yes, a cake is part of it. So someone can be in the pennies for cake materials business, the quarters for cake mix product business, dollars for a fully-made cake, or thousands of dollars for a full birthday or wedding or celebration event experience. That’s the commoditization to customization journey. Many property managers have correctly said, “We’re in the service business.” However, looking at where the most economic value will be created, today’s industry leaders have already started the shift to “We’re in the experience business.” They’re seeing different opportunities, which lead them to different choices that yield different results, and they find themselves in differentiated businesses. Professional property management is fast approaching a “hotelification” phase, where premium amenities and hospitality-grade service are creating a rental experience so good that more people choose the rental experience for longer periods of time. Hotel staff are called upon to enhance the experience of a proposal, an anniversary, a birthday celebration. And the great ones answer and emotionally connect. They are “moment-makers'' who create enduring loyalty, allowing them to drive more economic value. Consider how many of life’s meaningful and memorable moments are created at home. But how many people can name the owner of the apartment they lived in as easily as the hotel that elevated that special moment? So what are property management leaders doing today, and talking about doing tomorrow to create the #1 resident experience? The occupied experience is being defined by the “Resident Benefits Package”. From conference events like IMN, to NARPM, to PM XChange and PM Grow, it is hard to find an agenda that doesn’t include it. It’s a hot topic. Property managers and service providers have figured out how to turn persistent problems into a suite of proactive solutions that residents will pay for. Some of these services have been amenitized, like 24/7 maintenance coordination, vetted vendor networks, home-buying assistance, multiple payment options, and more that have become standard practice in professional firms. But there’s also a list of emergent ancillary services that are making their way from initial adoption to the definitive standard in the professional management experience. Move-in Concierge - Getting utilities and home services set up is a hassle for residents. Instead of 4 phone calls to get water, energy, internet, and TV services set up after researching who services the address, now residents can make one phone call and speak to a concierge who has looked up the discounts and promotions available and can confidently guide them through the process. In the future, this service likely expands to moving itself, deals on furniture with offers to assemble it, coordinated home cleaning, and landscaping. Air Filter Delivery - HVAC has been the #1 maintenance line item in SFR in most markets, second to plumbing in more temperate markets. And it has been a persistent problem of getting residents to change their filters on time. A 2020 HVAC Data Study that looked at over 7,900 SFRs in 4 markets, over an 18 month period, showed a 38% reduction when comparing a scheduled filter delivery program over the status quo of leaving a stack at move-in or hoping the resident remembers to go to the store. Every 2-3 months, residents are getting a box on their doorstep, where convenience makes it easier to do the right thing than to forget or ignore the responsibility entirely. Credit Building - every month that residents are paying rent on time, they get the benefit of that activity contributing to their credit file. A Goldman Sachs study showed a 42 point average increase in credit scores over 4 months. The credit bureaus also allow for up to 24 months at the same address to be back-reported which can provide a meaningful boost. Property managers are able to incentivize on-time rent payment and help residents build their credit over the course of their lease. Rewards - Residents are used to getting points and rewards for their loyalty with hotels, airlines, their credit cards… why not on their largest monthly expense? And while a rewards platform offers residents a unique benefit and savings on both everyday and luxury items, it is an incentive platform for the property manager. Rewards points allocated for on time payments, timely renewals, and ticky-tack maintenance like flipping a circuit breaker or resetting a GFI outlet mean more of the resident behaviors property managers want. Leveraging it for concessions and leasing incentives also means savings over cash offers, or higher perceived value at the same cash expense. Washer/Dryer Rental - Some properties may have these appliances installed or the residents come with their own, but we’ve seen the impact on prospective applicants choosing homes due the convenience of having the washer/dryer available. Smart Home - From thermostats to keyless entry to water leak detectors and more, there is hardware and technology alike growing more popular each year. Not only are they appreciated by residents, but they provide critical operational efficiencies to the management team. In addition to these, there are many more innovations that are going to dramatically improve the experience of renting and raise the bar on what’s expected. The companies that architect the best experiences will be the market leaders and capture the most upside in this future economic environment. We constantly are asking ourselves, what might the professional property management industry look like in 2030? The shift from transactional services to transformational experiences is one of the surest bets on the table. The big winners will be the players who embrace the new discipline of experience design. We believe the future belongs to the professionals, the trusted, the innovative… the people dedicated to changing the way people live forever.

Calendar icon October 25, 2022

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A CEO's Thoughts on the Evolution of the Property Management Industry

Keeping one eye down the road is critical in a changing industry. ‍ Matt Whitaker, CEO of Evernest, was kind enough to join us on The Triple Win podcast and share some interesting insights about the future of the property management industry. Whitaker has been a CEO since 2008 and has no shortage of experience managing a major player in the industry. His company is rapidly approaching 5,000 doors managed and now exists in 13 markets including Birmingham, Detroit, Nashville, and Atlanta. One of the topics of discussion between Whitaker and host Andrew Smallwood was the increasing polarization within the PM industry. Now, polarization as a word typically has a negative connotation to it, but it’s not necessarily a bad thing for the professional property manager in this case. ‍ Boutique vs. Scaled “I see the property management industry breaking into two worlds. I do believe there is still a place for the boutique manager in the future,” said Whitaker, who noted that some people may disagree with this assessment. But the personal relationships, nimbleness, and communication offered by a small-scale handful-of-doors property manager is hard for a large company to replicate. Not everything can be scaled efficiently and the value created by the smaller business’ ability to do those things well will continue to create opportunities for boutique property managers to thrive. “On the opposite end of that spectrum, I think there are going to be platform businesses that provide value to investors in other ways. So the boutique manager is the partner and the platform business, let’s call it, is going to provide an ecosystem of everything from property management, perhaps brokerage, perhaps maintenance, all these other verticals that are driving value for their clients.” Whitaker continued, “What I would be afraid of is getting caught somewhere in the middle, where you’ve got a big enough company that you don’t know all your clients, but you don’t have a big enough company that you can drive scale and give your clients and customers the benefit of that scale." Scale is certainly where Evernest is headed if it’s not already there, and Whitaker’s prediction is based largely on how companies like his and companies on the opposite side of the size spectrum create value for clients in two very different ways. This is the concept of differentiation, which is not achieved by the companies “in the middle.” Those companies are simply not going to be able to offer anything in the market that somebody else isn’t doing better. The spectrum Whitaker discusses can be warped to some degree, and some companies are attempting to do that by scaling aspects of the business, like personal relationships, that have not traditionally been scalable (see Auben Realty’s Pod System). But a general understanding of how a good property management company creates value for its investors and clients would lead you to the conclusion that, barring a major disruption, Whitaker’s polarization prediction is probably going to be right. “Begin with The End in Mind,” as Stephen Covey once said, is a concept that always applies in business, but is especially relevant now in the property management industry. Having a defined vision for your company can help you set meaningful goals and stick to them. Knowing what space in the industry you want to be occupying in five years can protect you from “getting caught somewhere in the middle.”

Calendar icon September 9, 2022

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How to Market A Property Management Company | RBP by Second Nature

Learn how to market your SFR property management company to new investors from marketing professionals in the PM space. How do you market your property management company? Well, first, what does that mean? More specifically, the question is how do you as a property manager use marketing tactics to strengthen your brand and grow your door count as a result. Effective Property management marketing is based on the same concepts as any effective marketing strategy, but with some industry specific insights, you can create an effective strategy that will efficiently grow your door count. Here we dive into the process of constructing a good marketing strategy for your property management company. We’re joined by Rodney Hays of Geekly Media (formerly RentBridge), who has spent a lot of time conducting marketing specifically for property managers, as well as Second Nature marketing professionals Carol Housel and Brandy Hammond. Identify informational needs of real estate investors A big part of digital marketing for property management is content marketing, which is defined as media creation (videos, articles, social media) designed to inform rather than to persuade. A good content marketing strategy gives you access to potential clients in the places they are asking questions. This includes places like Facebook, LinkedIn, and Google, where investors and potential investors consume real estate investment content that you can provide. Search engine optimization (SEO) is the process of optimizing a website to send signals to search engines and their users to gain organic visibility. Search engines, mainly Google, are the number one place where people begin their search for information. Content hosted on your website that addresses the most common questions investors are asking can position you well on the search engine results page (SERP), leading to increased website traffic. So how do you find out what topics to build content around? SEO programs, such as Semrush and Ahrefs, have an incredible database of keywords and common search terms, along with insights for those terms such as how much competition there is to rank well, how much search volume there is, and how often searches result in a click. You can also use the “people also ask” tab in the actual SERP to see what common questions are being asked. Then it’s just a matter of addressing the questions in a useful way to start increasing traffic to your website. “[Real estate investors] are going to ask questions about lease agreements and tenant screening. They’re going to ask questions about evictions, emotional support animals, those types of questions are always going to come up,” says Rodney Hays of Geekly Media (formerly RentBridge), providing a window into what real estate investors are often interested in learning. Create/Curate useful content for real estate investors A big part of SEO is identifying what your potential new clients are interested in. A good content marketing strategy follows that up with useful content that addresses the questions and leverages the specific keywords associated with them. Useful is the keyword here. Google is smart, and the analysis it conducts on webpages is extensive, so it will know if you’re just writing some slop and jamming keywords into it. Many property managers maintain a constant stream of content through a website blog. Real-Time Leasing’s website has extensive content written by their CEO, Deb Newell, who is also a property management consultant. Others communicate useful content with podcasts, such as AHI Properties and Evernest (link to Andrew’s episode), both of which appeared on the Triple Win Property Management podcast. “Good content seizes opportunities you’ve identified through SEO or other forms of communications and delivers actual value to the readers. A holistic strategy covers both of those parts, and you’ll fail to realize the potential of your marketing efforts if you skip one of them,” says Second Nature Marketing Services Manager Carol Housel. A popular content curation strategy used by Geekly Media is the industry news page, an example of which can be found here. This is curated content. It’s not written by the property management company, but rather compiled from sources and shared all in one place, which still creates a lot of value and a reason for real estate investors to be on your website. Rodney Hays of Geekly has opened a lot of industry news pages for clients and recommends sharing them across social channels whenever they’re updated. “Our customers will put their industry news page out there;, they'll pull in like 15 or 16 new articles every month. And then, out of those 15 or 16, we will take eight of those and put a third- party link in it and send those out on social media as well. And I think that's done pretty well in bringing in some different traffic that you know, it's just another resource for the people that might be visiting your page,” says Hays. Paid channels Paid marketing efforts for property managers are more about visibility and awareness. They’re high-funnel and useful if you have a budget for them. Hays notes that Geekly clients opt for Facebook, LinkedIn, and sometimes Twitter as targeted social channels. Facebook and LinkedIn have far and away the most active property management discussions and, in addition to paid search, are where you can see the most value for your investment. When it comes to old- school paid marketing efforts, Facebook ads are among the best ways to advertise property management services. Ads on Facebook are pretty easy to run and include useful features for property managers such as geotargeting. “Facebook ads are a great gateway into paid ads, since Google ads typically require a much higher budget to get similar performance. Facebook in the past has had a lower cost per click, so you’re getting higher performance from it for less lift and less spend, which is why I recommend it as a really good starting point,” says Brandy Hammond, B2B Marketing Specialist at Second Nature. Hammond goes on to note that paid facebook ads are one of the best marketing ideas for property management companies. Certain ad platforms, including Facebook, also offer geotargeting and audience mirroring, which are useful to property managers who need to target specific audiences in specific regional areas. “One thing I do love about Facebook ads, like with any other kind of paid ads, is that you can geotarget. Especially with property management and real estate, it makes sense that you’re going to target a specific area because, depending on the scale of your PMC, you probably don’t have national properties,” continued Hammond. Establish authority Becoming an industry-leading property management company is about more than just the number of doors you manage. There is a saying in marketing that perception equals reality. If you want potential clients to perceive your company as an industry leader, you have to give them a reason to believe that you are. That’s the point of a marketing strategy that seeks to establish the company as an authority in the space. A point will come where a large portion of your new doors will come from referrals. People don’t usually get into real estate without talking to people, so word gets around. Welch-Randall, a property management firm based out of Ogden, Utah, attributes 92% of its new doors to referrals. This is the mark of a business with established authority reaping the benefits of the work it put in to create that trust. This is the end state of everything discussed above. This is the fruits of your labor. Real estate investors, especially new ones, above all else, are looking for expertise in the real estate field to guide them through the ownership of their assets. By achieving visibility and brand awareness via paid channels and SEO, and following that up with useful content that answers the questions most important to investors, you’re establishing your company as a trustworthy and knowledgeable option for investors. By answering the questions they have, you’re also driving them closer to a decision. And when you’ve provided them the answers, guess which PMC they’re most likely to want to work with.

Calendar icon July 31, 2022

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Why You Should Host Quarterly Zoom Calls with Your Investors

Three veteran property managers who have implemented quarterly video calls with their clients. They speak to exactly how and why they operate these, and the specific value it creates for their companies. In late 2019, Real-Time Leasing CEO Deb Newell launched a new communication initiative aimed at building a better investor experience. The concept was simple but effective: a regularly cadenced zoom meeting with all their investors. “We invite all of our owners and we basically do a ‘state of the union’, a state of our company,” says Newell. “You pull back the curtain, you’re really showing them what’s going on behind the scenes and inviting them to have a little bit more information as to what the day to day may be.” Other PMs have since recognized the value of disclosing the innards of the business to investors, including Bryan Jenkins of AHI Properties and Karen Jordan of HBR Rentals, all of which appeared on a panel at PMLX with Newell to break down how they run these calls. What is the goal?‍ These investor zoom calls have one main goal, which is to keep the investor informed about and engaged in the processes of how their asset is being managed. When it was pioneered by Deb Newell, CEO of Real-Time Leasing and professional property management consultant, the intent was to provide such a thoroughly informative session that investors would leave feeling like they’re being kept in the loop and their questions and concerns were heard. This has proven more than successful for Newell and Real-Time Leasing, as well as other companies that have adopted the practice. It’s an obvious win for the investor, but the resulting relationship development with clients is also a big win for property managers. In the new age of property management, where lifetime value has supplanted immediate cash flow as the PM’s north star, making efforts to keep investors in the loop helps build a relationship that contributes to said lifetime value. Newell notes that a lot of investors think that the only time they hear from their management company is when there is a problem. That can really strain the client relationship, but it’s such an easy thing to fix and doing so will usually come as a surprise to the investor. Many probably aren’t expecting to be this informed. Their experience with old school PM companies would give them no reason to. “We’ve heard nothing but positive things about it. They were amazed that we did it in the first place,” said Newell. Bryan Jenkins of AHI Properties, part of the PURE Property Management family, has seen similar positive reviews after adopting the quarterly zoom call concept. “We've had nothing but positive feedback on the two that we've done this year. I've got clients that have properties in multiple states with multiple managers. And their comment is always no one else is doing this. And they're just blown away that it's proactive versus reactive.” How do you run them? Newell recommends doing these meetings quarterly and generally tries to provide investors a holistic view of the company’s status and the performance of the assets it manages. “The idea was to say ‘hey, we’re just going to tell you exactly what’s going on in the company, how well we’re doing, how well rent has been received, what our percentage of occupancy is, what our percentage of delinquency is, that way they felt more engaged.” Newell typically lays out an agenda that features a run through of all those things. “That usually lasts about 45 minutes, and we do open it up for questions. So we’ll have somebody monitoring chat . . . they can definitely ask questions during the chat, then at the end we open it up, let everybody unmute and ask questions.” Jenkins and AHI take a slightly different approach, electing to focus on the strategy for AHI’s decision-making and making sure their clients have a good understanding of why they’re doing what they’re doing. “We want to have our clients understand the why, why we’re doing certain things, why we’re deploying certain systems. They don’t need to understand the how, it’s the ‘why’ portion of it.” Jenkins hits on an important point, which is that it’s worth identifying what’s important to your clients and focusing exclusively on that. You could probably talk about what you’re doing as a company and why for hours, but whittling down to what’s most important to the clients can result in a more streamlined and efficient meeting that loses fewer people over the course of it. “We're explaining why we're doing things, how we're doing it for their benefit, and we focus on the triple win. We even talked about on our last call that we're looking for a win for the owner, the resident, and the manager and once we focus everything through that lens, it's easy. And we're also focused on the education of our owners and educating them on the way that we want them to think as investors.” Jenkins, Jordan, and Newell break their meetings up into segments, each with time allotted to different speakers within the company. Karen Jordan of HBR Rentals remarks that this helps clients put faces to names and build a more direct relationship with employees beyond just company execs. “I loved that they can put a face to a name because a lot of our owners have only met myself. So they haven't met the team. So to see the face of who's our maintenance coordinator, who's the Resident Experience Manager, to really get to know them, I think it really helps them,” said Jordan. Creating a Triple Win The extra communication with investors Newell, Jordan, and Jenkins are striving to create is another great example of how property managers are realigning their business toward lifetime value via triple wins. The benefit to the investor of being in the know and feeling like their questions are addressed is obvious. On your side as the PM, this is a great opportunity to forge a strong relationship with your clients, but it’s more than that too. Regular communication with clients also gives you an opportunity to teach. Investors may not understand everything you’re doing, why, or how your long-time priorities have shifted as a triple-win driven property manager. Jenkins focusing on “the why” provides powerful insights to investors on this exact question. As a property manager, you’re trying to provide value that investors can’t easily replicate themselves or with the assistance of technology. These quarterly calls are great opportunities to ensure your clients understand exactly what value it is you’re creating for them. When investors and property managers are on the same page about the future of property management, creating a great resident experience is even easier. That's a triple win.

Calendar icon May 19, 2022

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A Sales Person's Review of Giftology by John Ruhlin

When I was first introduced to the book Giftology by John Ruhlin during a Second Nature sales kick-off a few years back, I didn’t really know what to expect. Andrew Smallwood and Scott Stollwerk wanted the team to read the book so that we could gain a better understanding of the impact of being intentional with gifting. I didn’t realize then how much this book would change me. Giftology is all about strategic and intentional gifting - gifting with a purpose. This book aims to change the way we look at giving gifts. Too often gifting is seen as something habitual and unintentional. But Giftology really provokes you to think about how we can turn a gift into not just something we give….but to really make it into a lasting moment. The book talks about strategic business gifting as well and how we can stop giving gifts to clients and prospects that are meaningless, have our logo on them, and have very little thought or intentionality behind them. The goal with strategic business gifting is to turn a prospect into an active loyalist. Meaning, they love your business so much that they’ll be a huge advocate for the business and will naturally talk about it with others without prompting. When I think back to Andrew’s introduction, I see exactly how Giftology fits with the way we do business at Second Nature. We are all about making a positive and lasting impact. We always ask ourselves how can we be better? How can we up our game and standards, and truly stand out from other organizations? Giftology fits in with each one of our core values at Second Nature. Relentlessly Resourceful: How can we be better at gifting? Especially at trade shows. Can we have intentional swag versus the standard items people typically grab and then forget about right away? Drama Free Zone: Giving a gift shouldn’t be about us…it should be about the recipient. How will they feel receiving something so thoughtful? Bias Towards Action: How can we use strategic gifting to not only gain clients but active loyalists? Performance Mindset: Strategic gifting helps close business. Humility In All That We Do: It takes a lot to truly take ourselves out of the gifting picture and learn about the recipient so that the gift serves its intended purpose. Integrity First: We need to think about the gift and thoughtfully consider what our purpose is for sending it. Will the recipient feel valued? Shatter the Status Quo: Nothing goes further with a client than a super thoughtful gift John Ruhlin’s book has really made me think about the ways I select and give impactful gifts, and has helped me to understand the true power of making a gift into a lasting moment. Have you read Giftology yet? Or have you received a gift that’s made an impact on you? Let me know what you think in the comments below!

Calendar icon May 19, 2022

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Foldable Filter FAQ

Congrats! You’ve been selected to receive our brand new, foldable air filter. This innovative new filter is super easy to use. Its unique design allows for a more compact shipping size. This means we’re able to greatly reduce the amount of cardboard and materials used, helping us be more ecologically efficient and less wasteful. 1. Why did you change to this new filter? Air filters were past overdue for an upgrade. This is the first time the residential air filter has been redesigned in 30 years! Why settle? Here at Second Nature we’re always looking to improve and innovate to provide the best product for our customers. 2. This filter looks really different. How will it perform? There should be no noticeable change in performance between this filter and the classic framed filter you have been receiving from us. It will continue to filter pollen, dust, mold, bacteria, mites, & pet dander. Rest assured, our re-designed filters have undergone rigorous testing. 3. This looks thinner than my standard 1” filter. Will this make noise when my HVAC system turns on and off? Will it rattle? Our new filter, with its cloth-covered frame, will generally be quieter than a regular filter with a hard cardboard frame. 4. How often do I need to change this new filter? Just like our regular filters, this one should last for 90 days, though environmental factors and personal preferences play a part. If you live in a climate that has you running your HVAC most or all of the time, it’s a good idea to change more often. 5. Are the new filters recyclable? The filter itself is not recyclable, but please recycle the cardboard box. 6. Which way do I put it in the vent? Where’s the arrow? Our redesigned filter can be installed facing either way! New technology allows airflow in either direction. 7. What is this filter made out of? Our new filter is a polyester fabric blend, much like conventional filters. The fabric is supported by strips of spring-tempered steel in thin sleeves of polyvinyl. 8. If I’m not ready to replace my filter yet, but already opened it, can I fold it back up? Sure. It’s a bit like pushing the joke snake back into the tennis ball can, but if you’re careful and use the original box, it should be fine. 9. What are the benefits of this filter over standard ones? The frame is more durable thanks to our unique Flex-Lock frame. A cloth-like frame can produce a tighter seal in your intake vent, helping to prevent air from sneaking around the sides of the filter. Less packaging = less excessive waste 10. How should I dispose of this filter? Simply discard it, the same way you’ve disposed of your previous filters. You can even fold it back up, and place it in an indoor trash can! Please ensure it's folded up securely to prevent the filter from unfolding. The cardboard box can be recycled. 11. My friend/sibling/neighbor wants one of these! How do I get them signed up for this filter? For now, you have exclusive access to this new product. We’ll be rolling it out to other customers gradually. 12. Is this product more environmentally friendly? By folding the filter into a more compact size, we are able to greatly reduce our packaging materials, primarily cardboard. This also means we fit a lot more filters into each truck that leaves our fulfillment center!

Calendar icon December 2, 2021

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An Easy How-to for Painting Your Home's Interior

A DIY paint job can be easy by following these steps. So you’re looking to do some wall painting? That’s easy enough, right? You just need to grab a brush and a can of paint and get started. Except that is not what you’re supposed to do, unless you want your paint job to come out looking like you just put paint in a water gun and shot it at the wall. A painting project, like any home improvement project you want to invest in, will turn out quite a bit better with a bit of planning and the right tools. Not sure what you need? Well, you’re on the right blog. Make sure to pick the right color. First comes the prep work, which is arguably the most essential part of painting a room. Before you even begin thinking about doing the actual painting, make sure you spend the appropriate amount of time picking your color. Have an idea of what color you want when you go to the store and bring back some samples. If possible, get more than one sample of each color, as the more surface area of the wall your sample takes up, the easier it will be to envision that color all around the room. The paint store people might not let you do that, but if they do, you should take full advantage. Once you’ve acquired your samples, tape them to the wall or ceiling you’re intending to paint and check them out in different lighting during different times of the day. This will allow you to see what each color looks like in all different types of light and give you time to mull over your options. ‍ After selecting a color, it’s time to choose the type of finish you’d want. There's no industry standard for paint. What one manufacturer may call flat could actually be matte and vice versa. Be sure to test the actual paint or do some research first. Flat: Flat paint is the anti-gloss and therefore the best option for covering imperfections in your wall. The downside is that the surface can easily get marked up and may need retouching on a more frequent basis. At the same time, flat paint is easy to touch up since you're not having to worry about blending to match the current shine. Nowadays, most flat paint will stand up to mild cleaning—just look for "washable" on the label. Matte: Matte paint results in an almost shine-free appearance—a little bit more gloss than flat paint. This finish is sometimes referred to as suede or velvet finish. Given it does have a little bit of gloss, it can handle slightly more cleaning than flat paint. Flat and matte are best suited for low traffic areas as they are easier to mark and scuff, while not being particularly easy to clean Eggshell: Eggshell paint has a light shine making it easy to clean but doesn’t have the smoothness factor that makes imperfections standout. Those two factors make eggshell finish paints very popular. Satin: Satin paint is the middle ground between matte and gloss. This level of shine really starts to highlight imperfections; this sacrifice makes it easier to clean. The more shine a paint has, the more glossy it is. As you move from the spectrum of no-shine to shiny, paint becomes easier to clean. Keep this in mind when you're painting kitchens or bathrooms where the walls have a high potential to become dirty. Semi-gloss: It's got that bright shine, but still not quite glossy. Semi-gloss is easy to clean and ideal for trim, cabinets, or doors. High-gloss: Gloss is the opposite end of the spectrum from flat. It provides the maximum shine for your wall which can be a really fresh look. But cool comes at a price. This finish will show every imperfection. Due to their durability, high-gloss paints are often used for doors in high-traffic areas and trim. What supplies you'll need to paint. Now that you’ve got your ideal color and finish selected, it’s time to acquire the appropriate tools. Paint: Painting a room without paint is tough. Paint roller: For covering large open spaces like walls, a roller is the most efficient tool. It will give you cleaner and more even strokes than a brush. Paint tray: A paint tray holds the paint for the roller. The roller and tray can typically be purchased together for about ten dollars. Painter’s Tape: Painter’s tape is a critical tool for any in-home paint job. Use it as a divider between the area you want to paint and any area you don’t. Painter’s tape goes on and peels off easily and will give you a nice clean straight edge. You can get this for about five bucks. Brush: If you don’t have painter’s tape, or you’re painting an area that has inward corners or places that a roller will struggle to reach, simply use a brush to touch up the edges. Often, a brush will come in the package with the roller and tray. Ladder (maybe): You might need a step stool or a step ladder if you can’t reach everything you want to paint. These will run you north of fifty dollars, but chances are you already have one. If you don’t, you should get one. It’ll last you your whole life and be useful in lots of home fixes. Drop cloth: A drop cloth will cover the floor and furniture so you can’t spill paint on either. Make sure you get a size big enough to cover everything around the area you’re painting. These are cheap and start at around four dollars. Wallpaper steamer (maybe): If you have wallpaper, you’ll need to remove it before you begin painting. Wallpaper steamers are expensive, often starting above $40, although you can buy used ones for a little less. Remove any wallpaper. Using your newly purchased wallpaper steamer, strip off any wallpaper and then thoroughly clean the walls to rid them of any dirt or grime that has built up. Next, clear everything around the areas you intend to paint and move it as far away as possible. Make the space as open as you can. Cover the floor and anything that couldn’t be moved with the drop cloth to protect it. After you’ve cleared the space and laid the drop cloth, tape the cloth down and then adhere painter’s tape to the edges of the area you will be painting. Now it’s time to get started. ‍ To prime or not to prime? Sometimes it’s necessary to apply a primer beforehand, and sometimes it’s not. Primer is meant for walls and places where an even and uniform coat are critical. Determining whether this step needs to be taken is done by determining whether there are elements of the wall you are painting that will cause the paint to dry unevenly. Are you painting drywall, which needs a coat of primer to avoid irregular drying due to its absorption qualities? A primer will help here. Has the wall been painted before? A previous coat of paint will carry out some of the functions of a primer and is often sufficient on its own. Is the wall damaged, warped, featuring an irregular surface, porous, or does it have nail holes? A primer is recommended in these situations to level out the surface and decrease the impact of any irregularities in the wall. In some situations, you can use a paint and primer mix, which can save you some money and make things move faster. If you decide a standalone primer is necessary, apply just like you would paint, ensure evenness, and then give it two to four hours to dry. Be positive that it is completely dry to the touch before proceeding. ‍ Let’s do that painting. Once you’ve decided to prime or not to prime and you’ve applied the coat if necessary, it’s time to bring your room to life. Dump that paint in that paint tray and get ready for action. First, you’ll use your brush to paint the corners and edges where you’ve applied your tape. Use a horizontal sweeping motion to ensure evenness and make sure every sweep is in the same direction. After you paint corners and edges, use your roller to cover the wall. Roll the roller through the tray of paint and then begin your roller stroke about three-quarters up the wall. Roll from there almost to the bottom, still leaving two or so feet between the edge and the end of your stroke. Once the paint on the roller has thinned to the point where it isn’t pooling on the foam, roll all the way to the top and bottom of the surface. This practice will help to ensure the most uniform coat possible. ‍ How many coats is too many coats? For wall painting, you’re probably going to need multiple coats. If you’re repainting, the number of coats required varies depending on the old color and the new color. A darker color over a lighter color will need probably no more than two, while a lighter color over a darker will need as many as five or six. In a situation that would require a significant number of coats, a primer might be useful in providing a blank and uniform canvas that cuts down on the workload. While you’re painting, it’s essential to keep in mind that paint will dry a slightly different color than when it’s first being applied to the wall. It often goes on a darker color than the samples you had taped to your wall. Don’t panic. It will dry the right color. After you’ve let your final coat dry, you’re ready to put your room back together and enjoy the ambiance of the freshly painted room.

Calendar icon November 2, 2021

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