Triple Win Property Management Blog

How to Write a Friendly Rent Increase Letter + Free Template

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

May 14, 2025

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How Many Properties Can One Person Manage?

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

May 13, 2025

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

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

May 8, 2025

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AI for Property Management: Benefits and Top Tools

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

May 6, 2025

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9 Marketing Ideas to Unlock Growth for Your Property Management Company

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

May 2, 2025

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Why I Quit Property Management for Coaching

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

May 1, 2025

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Property Management Staff: Hiring by Business Growth Stage

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

April 29, 2025

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Learning to Empower your Property Management Employees

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

April 24, 2025

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20 Ways to Get More Property Management Leads

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

April 23, 2025

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Leading Means Truly Connecting with your Team

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

April 22, 2025

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Four Keys to Successfully Scaling a Property Management Company

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

April 18, 2025

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Property Management Meeting Agenda Template: A How-To Guide

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

April 17, 2025

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Why Should Property Managers Offer Internet as an Amenity?

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

April 15, 2025

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Creating a Coaching Culture at your Property Management Company

One of the biggest shifts I’ve felt in my time at JWB is leaning less into a culture of management, and more into a coaching culture. By focusing on the whole person, rather than just focusing on output, our team is built stronger for the long run. Read on to learn more about what coaching is, why it’s so important in property management specifically, and what you can do to build a coaching culture of your own. What is coaching? Coaching employees is the process of developing the whole person, rather than just trying to optimize how they achieve a specific business outcome. Coaching is an evolution of supervision and management, and goes beyond either of those. Here’s how I differentiate: Supervision is the process of managing tasks, quality control, and day-to-day work. Management is a bit broader, and includes setting a vision and developing a process. Both supervision and management are focused on the organizational aspects, whereas coaching is about developing a person overall. Yes, coaching also includes business needs, but it focuses on setting goals and achieving them on a personal growth level. Coaching includes understanding long-term drives, desires, goals, and intentions. It’s about asking the question, “How can I in this organization help you take a step closer to achieving those things?” What is a coaching culture? A coaching culture is an overall attitude throughout the organization that the whole team has each other’s personal and professional development in mind. First and foremost, a coaching culture starts with trust. Employees need to know they can come to you honestly when something goes wrong. They need to know you’re not going to judge them for their long-term goals. They need to trust that you’re giving open and honest feedback to help them improve every day. As a coach, what does that look like? First, in order to build that trust, a good coach needs to be honest and give real, actionable feedback so that their employees can learn, develop, and become their best selves. That means setting the stage early. In my first one-to-one with a new hire, I always ask a few questions to better understand what their non-negotiables are for themselves: What are the standards they set for themselves? What are their personal core values? What are their goals? I also share these things about myself so that they have a better understanding of me as a person and of how we’ll work together. And, most importantly, sharing vulnerable information about myself also helps build that ever-important trust. Allowing room to fail forward Part of creating a culture of honest feedback is also allowing room to fail. First of all, people shouldn’t be afraid to fail or make mistakes. Second, when they do make a mistake, they shouldn’t be afraid of coming to tell you about it. Mistakes happen. The question should then be, “how do we learn from this, and hopefully prevent it from happening again?” As a coach, your job is to be a safe place for failure. You can’t be reactive and harsh when someone makes a mistake. You need to turn mistakes into teachable moments and allow your team to fail forward, learn, and grow. Why coaching is important in property management Why is coaching important in property management specifically? Well, for starters, no one really goes to school for property management. Most property management teams are made up of people like me, who started their careers elsewhere and found property management along the way. That means that there’s a lot of learning, which also means a lot of failure. Plus, property managers carry such a large workload and such a long list of tasks that they’re bound to have something fall through the cracks. There’s just inherent human error. Failing forward is part of the job. Property management also requires decision making at speed. You have to move from evaluation mode into decision-making mode so quickly that you need to be able to trust yourself, and to trust that you won’t get in trouble if you’re wrong. Too many people are held up by the fear of failure, so they don’t make quick decisions. Planning a career in property management Because there isn’t a lot of formal education in property management, a lot of people in the industry also don’t have a great sense of the career trajectory. That’s where a coach can step in. As a coach, you help shape an employee’s property management career path. Something I take a lot of pride in is my ability to understand someone’s strengths, identify what kinds of roles best suit them, and make that clear to them. Coaching means providing growth plans for each role. If someone can do their job with their eyes closed, they probably aren’t being challenged, and they may start to lose interest. It’s your responsibility as a coach to keep leveling them up. A good coach also provides the flexibility for employees to change trajectories. Your employees should feel comfortable coming to you with questions about their career in property management. Sometimes that means they may want to leave your team and transfer to another team in the organization. As much as it can be difficult to lose a good team member, part of being a good coach is helping them fulfill their maximum potential. Bringing coaching into reviews At JWB, we hold weekly one-to-ones with direct reports. Sometimes they’re very tactical and focused on ongoing projects, but we try to also work in time for long-term goal setting. As coaches, we’re constantly evaluating performance and making sure that team members are on track for what’s right for them. Doing this weekly helps prevent people from veering too far off track, then only hearing about it in an annual review. Of course, we also hold annual reviews. In those meetings we make sure to establish long-term goals for the next year or two. These reviews also include the most important question a coach can ask: “How can I help you achieve this?” Coaching doesn’t just happen downward It’s important to recognize that a coaching culture means coaching all of those around you, and being willing to be coached yourself. We’re all responsible to each other. Making yourself coachable is half the battle. You need to listen to feedback and take it to heart. When I ask my employees how they best receive feedback, I also tell them how I best receive feedback myself. I make it abundantly clear that I’m not just open to feedback, I want feedback. Coaching never stops. You never get to a point where you no longer need coaching. So keep coaching, keep being coachable, and keep building up better property managers who will push our industry forward. Want to learn more about measuring performance, improving employee output, and growing your business? Watch the webinar that Tony Cline and I participated in, all about making your KPIs more actionable. Watch now

April 8, 2025

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My Ideal Meeting Cadence for Property Management Companies

One of the most popular frameworks in property management right now is EOS, the Entrepreneurial Operating System. EOS is a system that helps organizations increase discipline and accountability through several tools, including a very specific meeting cadence. Now, to officially implement EOS, you have to be a licensed implementor and go through specific training. What I’m advocating is something of an EOS-light approach. I’m not a licensed implementor, and the meeting cadence I’m going to outline for property managers has been adapted, but it does have some roots in EOS. I’m also not a purist. I don’t believe that you have to do everything exactly by the book to be successful. I’d advocate looking at this framework critically, putting it into practice, seeing what works for your organization and what doesn’t, and adapting. Setting yourself up for success The first thing to know about implementing a new property management meeting cadence is that, without a clear mission, vision, and values, this all means nothing. I’ve written before about how policy should follow your mission and values, and this is no different. So if you don’t have those things nailed down in your organization, that’s a better place to start. The second thing to know is that this is going to be a little bit uncomfortable. There will be awkward moments along the way as your team gets used to a new way of doing things. You’ll need to get comfortable being uncomfortable. In my mind, the number one determination of whether this plan will be successful is whether the owner of the company has the discipline to see implementation through, even when things get weird. And they will get a little weird. Now, let’s walk through the meeting cadence that I recommend to my clients at Property Management Success, and what each meeting consists of. Daily huddle meeting The first big piece of the meeting cadence is the daily huddle, which you may also know as a standup. The daily meeting, which I recommend scheduling at the beginning of each day, is intended to be short and to the point. We’re not all going to get comfy in a meeting room for 30 or 60 minutes with our laptops and our breakfast. Daily huddles should hit a couple of key points: What do we need to know right now to execute today? This might include items that are blocked by other teammates, things that are holding up other people’s work, or anticipated challenges. What are the urgent items that need to be addressed? Are there fires that need to be put out? What needs to be done by the end of the day to keep everything on track? I find daily huddles valuable not just for the work that gets addressed, but also the team building element. It brings the team together everyday and gets them in the mindset of working as one. This is especially important when you have remote team members who may not see the rest of the team all day. Finally, I always wrap up the meeting with one question, and this is where things can start to get uncomfortable. Ask the team, “What’s one example of our core values in action that you’ve seen since we last met?” This can be awkward to answer, but you just have to embrace the process and wait it out. Eventually someone will share an honest, vulnerable story, which will continue building up the importance of core values to the team. And I promise, once you get into a routine, this gets easier. Weekly meeting Next up is the weekly team meeting. In the official EOS workbook, this is known as the L10. Weekly meetings should typically be sixty to ninety minutes, and focused on the overall performance and progress of the team. KPIs and scorecards One of the most important elements of your weekly meeting is going through your key performance indicators and metrics. Everyone on the team should take their turn to report out their numbers and whether they’ve hit them. This gives leadership and opportunity to flag metrics that are consistently being missed, or KPIs that might need to be altered. Something to keep in mind is that KPIs need to be actionable. That means that if your team didn’t hit it this week, you can develop a clear plan on how to hit it next week. Those actions should be decided in the weekly meeting. Quarterly rocks Your quarterly rocks are the bigger projects that you have going on, which may take anywhere from a few of weeks up to a whole quarter. Rocks are important because they keep your team focused. The importance isn’t just what’s on them, but also what’s not on them. If you have too many rocks, nothing will get done, and if you don’t have enough, you’ll start picking up additional projects and stretching yourself too thin. As the name suggests, rocks are set quarterly during planning meetings. Here are some examples of what rocks might look like for a mid-sized property management company: Implementing a new software tool Instituting a new pricing structure Building out a knowledge base Setting up a Resident Benefits Package Testing out a new marketing strategy Hiring for a new role on the team Rolling out a new management agreement Realigning team responsibilities or structure These are all projects that are going to take more than just a week, but are important long-term goals for the company and need to be checked in on regularly. Each week, you should be looking at whether your rocks are on track or off track. If things are off track, add them to the issues list and make sure to address it before the end of the meeting. Finally, have another quick share on your company’s mission and vision. Ask the team, “what did we do that’s in alignment with these?” This is essential to building culture, because it helps build on wins. It gets the team used to winning together and inspires them to keep up the good work. Quarterly planning meeting One level up from your weekly meeting is quarterly planning. This one is pretty self-explanatory. Basically, your team should meet each quarter to evaluate the progress that’s been made, along with the work that needs to be done in the upcoming quarter. Depending on how large your team is, you may or may not have all members attend. If your team is on the smaller side, everyone should be there. If the team is bigger, you may need to focus on leadership and management. The first major part of quarterly planning is reviewing the previous quarter. This is an opportunity to remind the team of the good progress that’s already been made before turning to new projects. By focusing on the positive outcomes first, you can increase engagement from the team and build that continued sense of winning together. Look at your rocks from the past quarter and evaluate where you were most successful, as well as what adjustments you need to make. From there, look forward. What are the next steps that you have to take? This is where you build your rocks for the next quarter. It’s helpful to have the full team present, especially team members who will directly own those rocks, because it helps get buy-in. People will be more invested in projects that they helped select and scope than if you just assign something to them. Annual review The last major meeting I recommend property managers add to their cadence is the annual review. This should include everything that you’d normally do in a quarterly planning meeting, plus some extras. In addition to planning new rocks, you’re also planning the overall goals for the year. These can include new KPIs, growth metrics, and other performance indicators for the year. This is also a great opportunity to reinforce your mission and vision. Focus on reminding people why they’re doing the work they’re doing and where the company aspires to get to. Reinforce the service—and quality of service—that you want to deliver. Beware the pitfalls Implementing a whole new meeting cadence like this isn’t easy. It can be especially difficult in an industry where everyone already has a lot going on and their schedules are stretched thin. Focus on delivering value One of my biggest pieces of advice is to make sure that you’re actually providing value in these meetings, and that you’re not meeting just to meet. If a meeting isn’t serving you, find out why and adjust accordingly. On top of that, think about the opportunity cost and wage cost of having everyone in a meeting. That time is expensive. If it’s not creating value, it shouldn’t be happening. Get your KPIs right A lot of companies I’ve seen have set up KPIs to say that they’re tracking KPIs. But in reality, they’re tracking the wrong things, or they’re tracking the right things the wrong way. If you’re meeting every week and reviewing KPIs, and you consistently find that you’re hitting them every time and blowing them out of the water, that may be a hint that you’re either setting your goals too low or you’re tracking busywork. On the flip side, if you’re consistently missing your KPIs, you may be setting sights too high. Utilize milestones to stay on track When you meet weekly to check the status of your quarterly rocks, make sure that you’re actually looking at whether things are on track or not. I’ve consistently seen teams say, week-in and week-out, that their rocks are on track. But then when the end of the quarter comes, suddenly the rock isn’t complete. When you build your rocks in your quarterly planning sessions, build in milestones. Milestones help define what “on track” actually means, and will help give team members a sense of where they stand with major projects. Final thoughts I really like this meeting cadence. I’ve seen it work for a lot of property management companies. But there’s a reason I started out this article by saying that I’m not a purist. A meeting for meeting’s sake is horrible. You shouldn’t be meeting just because it’s part of a framework. You can absolutely adjust this cadence to make sure that you’re using your time well. And even if you do stick to this cadence, don’t feel like a 60 minute meeting has to be 60 minutes every week. If you finish early, great! Don’t keep people there for the full time if you’re not making progress. Don’t waste people’s time. Interested in learning more about how to optimize your company processes? Join me and Melissa Gillispie for a Triple Win Live session on optimizing your company's KPIs. Register now!

April 1, 2025

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Onboarding: Getting the Most from your New Property Management Staff

Training your property management staff can be a lengthy, difficult process. Once you’ve found and made an investment in the right people, you need to set them up for success as quickly and effectively as you can. How can you make sure you’re onboarding new employees in a way that helps them and the business be successful? In this article, I’ll walk you through our approach to training and onboarding at JWB Property Management, and give actionable tips on how you can set your staff up to win. Our onboarding approach The specifics of onboarding staff varies a bit based on the needs of the role and the structure of the company, but we have a pretty rigid schedule for the first three to four weeks, which includes: Expectation setting Role-specific training Crosstraining Each step is vital to setting up your team for success, so let’s walk through them one by one. Expectation setting Expectation setting is one of the most important parts of onboarding employees, and most companies completely overlook it. My philosophy is, people don’t know how to be successful until you tell them. You can’t just assume that they’ll know what’s expected of them. The better you can set clear expectations upfront, the more likely everyone is to be successful. A lot of managers think that being direct with expectations is somehow mean, wrong, or micromanaging. I couldn’t disagree more. In my experience, avoiding these kinds of conversations sets everyone up to fail. “Clear is Kind” - Brené Brown Being direct with your employees about what you expect from them gives them the best tools to be successful. That’s why we spend up to three hours in the first week just on expectation setting. I ask new employees what their goals are, what they expect from the role, and what their own standards for themselves are. Then I walk through what my expectations are, and we make sure we’re aligned. That sets them off on the path to success from their very first day. The best thing I can do as a leader is develop people to be better than I am, as quickly as possible, and setting expectations kicks off that development. Role-specific training Role-specific training is the process of training new employees in the actual day-to-day work they’ll be doing. We take a hear/read/see/do approach, meaning that people with different learning styles can still be successful. Our training materials include: Existing documents like leases and policies Videos Readings Hands-on activities New hires work closely alongside their new teammates to gradually take on daily tasks and get first-hand experience. That’s when we start getting them on the job and actually handling their routine responsibilities, while still providing someone to answer questions along the way. Crosstraining Every new hire also does extensive crosstraining with every other department. For example, a new property manager will spend time with accounting, construction, and legal. This time is focused on making sure that everyone understands the way that their work affects other people. It builds company culture and teamwork, but also helps give new team members a sense of purpose and meaning, knowing the larger impact of their work. Basically, we don’t want people going through the motions in a silo. We want them to know their coworkers on other teams, and to see the value that they bring to the organization. This is also where our mentorship program comes in. At JWB, mentors are well established employees who can help take someone from day one to day 90. They’re typically not from the same team as the new hire, and they provide a safe place to ask the silly questions that people are uncomfortable asking their bosses, or the unwritten rules of the company culture. Sticking to a timeline In property management, everything can feel like it has to happen immediately. But training takes time. That’s just the nature of it. We try to pace our new hires, while also pushing them to grow quickly and get up to speed. That pace is set by the hiring manager, and the new hire is expected to flag any issues if they arise. (Of course, that expectation is outlined clearly in the expectation-setting stage!) Here’s an example of the timeline we’d typically hold a new property manager to. Week one focuses on: Expectation setting Introductions to the team Intro to rent collection Week two transitions into: Executing rent collection alongside another teammate Learning how to manage renewals By week 2 they’re assigned a portfolio of about 100 properties, which they’re managing with the help of their manager. By week 4 they have 250-300 properties and are starting to get more comfortable working independently. By day 45, a new hire should have the same portfolio size as any other property manager. Of course they’ll still have questions, and that’s normal and expected, but they’ve reached competency. By day 90 they’re fully self-sufficient and doing the same work as a property manager who’s been there for a while. They don’t need someone looking over their shoulder or keeping tabs on them. At this point, we hold a 90 day check-in, which is mostly an evaluation of skills competency. It helps us make sure that the employee is feeling comfortable and is capable of doing the work. And if they aren’t, it provides us an opportunity to catch things early and make the necessary corrections. Final thoughts Onboarding is absolutely crucial to getting your team up to speed and working together well. It’s your opportunity to really give people a workplace that they can feel proud of, and to build a thriving business in the industry that we all feel so passionate about. Put in the work to get onboarding right, and help everyone succeed. Want to learn more about how to grow your business strategically? Join me and Tony Cline for a Triple Win Live on setting and optimizing KPIs for your property management company. Register now

March 27, 2025

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Hiring in Property Management: How to Build a Thriving Team

Hiring is one of the most important decisions that you can make in property management, but it’s often rushed or overlooked. While it can be challenging, it’s absolutely worth the extra time and effort to find people who will thrive at your company. How can you make sure you’re choosing the right people, not only for the open role, but also for your company culture? In this article, I’ll share how we approach hiring at JWB Property Management, including how we conduct interviews and make sure we’re aligned with candidates. Hiring for values before skill I had no experience in property management when I started at JWB as a trainer and administrator. Instead of being hired for my experience, I was selected for my values and belief systems, which meshed well with the rest of the company. One of the best things about hiring in property management is that many roles are extremely teachable. You don’t need a ton of experience in the same role in order to be successful. There are certainly exceptions—like accounting or construction—that need specific hard skills. But most job responsibilities can be taught. That provides a huge opportunity to really dig into a candidate’s values and evaluate whether they’ll be a good addition to the team, rather than looking just at their resume and work experience. In industries where roles are highly technical, you may not have that luxury. But in property management, especially because it’s such a service-focused industry, hiring for values is essential. Evaluating your candidates In the spirit of hiring for values, we focus a lot of our interview process on our company’s core values. We aim to hire people who will help our organization continue to grow, innovate, and push forward, regardless of their previous experience. Considering applications Our initial application only has one question beyond basic information: “What makes you an A-player?” We don’t even ask for a resume up front, because, again, we’re more interested in soft skills and values than specific work experience. From there, we use an assessment tool to better understand people’s drive, motivation, and working style. Each job has different targets for different strengths, so the assessment helps us align applicants with the right positions. Once we think someone may be a good fit, that’s the stage where we ask for a resume. We’re looking for things like attention to detail, communication style, and how they present themselves, not specific hard skills. Interviewing top prospects We’re very intentional about making our interview process thorough. We don’t want it to be overly simple or easy, because we want people who are motivated. Our application process provides natural steps where applicants who aren’t as driven will weed themselves out. Evaluating skills, not experience Once a candidate moves into the interview stage, we shift some of our focus to the job itself, and the skills that we want to see for that role. In the first interview, they meet with a member of our leadership team, along with the hiring manager, to talk about the skills needed. Again, this is not about their experience in a similar role. For example, someone applying to be a property manager needs customer service, organizational, and communication skills. They may have those from a past job outside of property management, and we welcome that. Finding values alignment Our second interview is focused specifically on core values. We want to know who you’re going to be when you show up to work everyday. We have a set list of questions that we try to ask during this stage, and they’re fully based on our particular core values. Your company’s values will vary, so you should construct your interview questions accordingly. Seeing them in action Finally, we conduct what we call a shadow interview. If we think someone is a good fit and we want to hire them, we have them come in for a day and actually be in the office with us. They might take phone calls, go on site visits, submit work orders, or help show a vacant unit. This is all intended to see body language, attitude, and other behavior that we might not see in a couple of short interviews. We typically try to align shadow interviews with our company all-hands, because that’s a huge display of our culture. The idea here is that a shadow interview should be mutually beneficial; the candidate should get a sense of our culture and make sure it’s the right situation for them, just as much as we want to make sure they’re the right person for the role. Final thoughts Hiring employees can seem like a daunting task. In fact, that’s why so many small companies tend to wait too long to hire. They’re so focused on trying to complete the day-to-day that they don’t prepare for hiring ahead of time, and then wind up putting it off. One of my biggest pieces of advice for growing companies is to take the time to figure out how you want to hire before you need to hire. You don’t want to wait until a crisis is happening to decide how you’ll respond to a crisis. A lot of companies only start thinking about growing when they’re reaching a breaking point. They’re under a ton of pressure. If you have a plan in place ahead of time, you don’t have to make emotional decisions. You can approach it logically and calmly, and make better decisions. When you plan ahead and hire deliberately, you can create and sustain great teams to elevate our industry, and provide value and purpose-driven cultures. Interested in learning more about structuring and expanding your business? Download Second Nature's property management business template. Download now

March 25, 2025

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Introducing Group Rate Internet from Second Nature

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

March 19, 2025

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How Ultrarunning Inspired my Brand Positioning

Right around the time I turned 40, I took up distance running. I started with marathons, and then after about a year and a half I got bit by the bug: ultramarathons. Marathons are any race longer than a marathon, and are often 50 kilometers, 100 kilometers, or 100 miles. The things that ultrarunning has taught me have changed my life, both personally and professionally. So when I recently met with my fractional CMO to talk about brand positioning, there were some immediate connections in my mind. Our rally cry We developed two key brand positioning statements through a process of really digging deep and uncovering who we are. The first was a rally cry. We didn’t initially set out with a goal of developing a rally cry, but when we stumbled upon it, it just clicked. A rally cry is meant to be the north star for your team, reminding them why you do the work that you do. In a lot of ways, it’s a distillation of your core values. The goal is to craft something motivational but concise. It should, as the name suggests, be something that people can rally around. Here’s mine: This is what we came for. This is something that I heard another runner say while he was running a 250-mile race. He was at a low point, something we all experience during long races. But through the pain and the struggle, that was his mindset. I thought that was incredible. We don’t run ultramarathons because it’s easy. We run because it forces us to push our limits. It drives us to reach new levels that we didn’t think were possible, and we do that through struggles. Working in property management is the same way. We don’t do it because it’s easy, we do it because it can change people’s lives. That same belief that drives me to keep running when I’m struggling at mile 53 is exactly what drives me during the difficult times at work. When we push ourselves, we grow. That’s what my team is here to do. Our brand promise The second element of our brand positioning project was a brand promise. Your brand promise is a clear statement to your customers that outlines what they can expect in terms of service, quality, and commitment. Here’s what we wrote: We go beyond managing properties—we are a trusted partner enabling you to build wealth through real estate. Our relationship with property owners isn’t a simple, transactional one. It has tremendous scope and magnitude, and a lot of people underestimate that. We’re coaches. We’re leaders. We’re advisors. And when we view that relationship as a journey, that’s when we can really add value. Owning a business—whether that’s a property management company or a real estate investment company—pushes you to the limit. Along the way, you’re going to become a different version of yourself, one you may not have known you could be. But that change in mindset is what unlocks the wealth-building power of real estate. That commitment and transformation is incredibly similar to my journey with ultrarunning, so it was just natural to use it as our brand promise. Writing your personal brand positioning When I sat down with my fractional CMO, Vince, to start drafting these brand elements, he pushed me to make them personal. He emphasized telling my story through my brand and making sure it’s completely unique. What I ultimately ended up with sits right at the intersection of who Mark Brower is and what service Mark Brower Properties delivers. Plus—and this is maybe the most important part—what impact we have on people’s lives Your rally cry and brand promise should embody who you are, and, more importantly, who you aspire to be. They should represent your highest calling. Ask yourself what you want to become and commit to that. Let it flow naturally Your brand needs to come organically, from the inside, not the outside. You can’t craft a perfect brand in a lab. It just won’t resonate. People will be able to feel that it’s artificial. In ultrarunning, you’ll hear a lot of runners say that they let the speed out. They don’t force it. They don’t push the speed out. They just allow it to happen, and it comes out freely. You need to take the same approach to your brand. You can’t sit down in a conference room and overthink your way into a strong brand. It isn’t about what’s good for the marketplace. It’s about the truth, and the uniqueness of you and who you are. So how do you find those pieces of you and your story that make up your brand? Ask the right questions. Look for the parts of yourself that are the most meaningful. What do you believe in? What do you want to achieve? What difference do you want your work to make in the world? Start asking yourself those questions and you’ll start to get at the heart of what’s important to you and your company. The challenge of self-discovery I truly believe that 80-90% of branding is embracing self-discovery and being open and vulnerable about your authentic self. Showing who you are at your core can be scary, but people will connect with it on a much deeper level than when you talk about the specific services you offer and how much you charge. It builds trust in an industry where trust is everything. You can’t make people care about what you say until they know you care about them. And how can they trust that you care about them if your real, authentic, vulnerable self isn’t showing up? The scariest part about this all is acknowledging that your business and services aren’t for everybody. When you build a company that’s very specific to who you are, some people are going to decide that it’s not a great match. And that’s okay. Leaning into that takes confidence and courage. It’s not an easy thing to do, especially if your business has been unbalanced, and focused on growth-at-all-costs in the past. But it’s essential to growing with purpose. You can’t please everyone all the time, and trying to do so doesn’t build a strong brand. Often saying no to one prospect is more important as saying yes to another. When you develop the courage and strength to embrace that, you’ll be more effective at the work you do. There’s no other you Remember, the more unique your brand is—and the more personal it is—the more it will resonate with people. When you’re developing a brand, you’re not positioning yourself against your competitors. You’re communicating who you are. Your goal is to get so good at understanding and communicating your brand that it resonates when people see it. The Rolling Stones didn’t do rock-and-roll. The Rolling Stones did The Rolling Stones. And that’s why they’re still selling out arenas 60 years later. There are other bands out there, but no one does what the Stones do as well as they do it. When I’m running with a couple of my friends, we know we’re not going to win these races. Let’s face it, we’re older than a lot of the other competitors, and we’re enthusiasts, but not professionals. But we’ll often joke with each other that we can definitely come in first in the category of over 40, over 6 ft, with a certain shoe size, based in Mesa, AZ, etcetera. And we’ll just keep narrowing down the criteria until we’re the only ones in it, so we know we’ll finish first. That’s what you want to achieve. If you do it right, no one can be who you are and do what you do. You will be number one in a category of one. You can’t compare my company to anyone else, you can’t compare my fees to anyone else, because my brand makes me unique. What makes you unique? Want to learn more about positioning your brand? Start with your core values. Watch this webinar that I recently did with Second Nature’s Andrew Smallwood on creating core values that matter.

March 11, 2025

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