Blog_Page_Hero-3

Triple Win Property Management Blog

Featured Blog

Introducing the Resident Experience Platform

Today, Second Nature takes a step into the future. We’re announcing the first Resident Experience Platform (RXP), changing how property managers orchestrate and deliver personalized onboarding experiences that guide residents through lease terms, move-in tasks, and resident benefits. Our goal is to give residents the experience they expect while also saving property managers countless hours in administrative work. RXP creates happier residents who stay longer, pay on time, and drive better business outcomes for property managers like you. What is the Resident Experience Platform? The Resident Experience Platform is the only platform powering personalized experiences that residents pay for and stay for, from onboarding to move-out. It’s a single platform to shift property management from traditional transactions to a dynamic experience for residents, leading to more Triple Wins throughout their residency. The Resident Experience Platform consists of two key components: Resident Onboarding, a new way for residents to understand and sign their lease, customize benefits, and complete move-in requirements. Resident Onboarding turns the most stressful part of renting—moving in—into an opportunity to build trust, increase resident compliance, and differentiate your properties. It drives personalization at scale, giving every lease, property, and resident a tailored, mobile-first experience without adding complexity for your team. The Resident Benefit Package, a curated collection of lease-enrolled services that help residents build their financial wellness, protect themselves, and improve their living experience. From Air Filter Delivery and Credit Building to Identity Protection and On-Demand Pest Control, you can deliver benefits that residents actually want. When you combine the two, you get comprehensive management of the resident experience from move-in through move-out. Plus, Resident Onboarding makes it easy for residents to enroll in and understand their Resident Benefits Package. Why has Second Nature added Resident Onboarding to the RXP? With the addition of Resident Onboarding to our offering, Second Nature is no longer just an RBP provider. We’re expanding our impact to encompass the full resident experience, creating a true Resident Experience Platform. Starting resident relationships off on the right foot The resident flow from approved to moved is not only an opportunity to make a great first impression, it’s also the time when you have the most interactions with residents. It’s the perfect chance to build trust, set the relationship up for success, and develop a positive rapport. In fact, according to AppFolio’s 2025 Resident Preferences Report, residents who are satisfied with the move-in process are 86% more likely to recommend their property manager, and 29% more likely plan on renewing. Resident communication is a challenge First and foremost, Resident Onboarding is a communication tool. It increases clarity for your residents, helping them better understand both the value you provide and their responsibilities as outlined in the lease. Say goodbye to static, 30-page leases that your residents probably don’t fully understand—if they’re even reading them. In our upcoming State of Resident Onboarding Report, we found in a survey of 500 residents that only 37% read their entire lease. That communication gap hinders resident compliance, increases friction, and eats up valuable time from your team. Personalization yields resident satisfaction Personalization at scale is one of the biggest challenges for property managers, but in the modern experience economy, residents have increasingly come to expect it. By creating personalized leases based on resident, property, and market, you can deliver unique leasing experiences without increasing your team’s time investment. Plus, if you need to change something in your standard lease terms across your portfolio, you can do it in just a few clicks. No need to dig up every single lease template and manually update it. Combining our industry-leading Resident Benefits Package with tailored onboarding is the perfect way to close the gap between what residents expect and what they experience. Get started Want to start delivering a superior experience to your residents? Sign up for a demo now and speak to an RXP expert in your local market.

Calendar icon October 15, 2025

Read more

10 Best Property Management Blogs to Read and Learn From

In an ever-evolving industry, it's important to stay up to date on the latest property management trends, technologies, and strategies. One of the best ways to do that is by reading industry blogs across a range of property management websites. You'll find all kinds of best practices and practical tips from peers and other experts. They also help you keep abreast of any regulatory changes and compliance requirements that may inform your business decisions and strategies. Today we'll cover some of the top property management blogs, with a focus on what each site brings to the table. Also, be sure to check out the best property management newsletters to subscribe to that can level up and grow your business. 1. Second Nature's Triple Win blog The Second Nature blog provides insights on a wide range of topics related to property management, including market trends, technology, resident retention, and more. Our focus is primarily on a “Triple Win” philosophy, which expresses the idea that residents, property managers, and investors can go beyond transactional basics to create new, mutually winning experiences. Second Nature aims to provide a stage for experts in the industry—the people doing the real on-the-ground work—to share their knowledge and experiences across categories like investor relations, building and managing a team, and minimizing time to income. The SecondNature blog is a valuable, highly readable resource for property owners and managers alike. Click for sound 5:01 2. Appfolio's Industry Insights blog Santa Barbara-based AppFolio is a software-as-a-service company focused on providing cloud solutions for the real estate market. Most property managers are already familiar with AppFolio, who offer a full suite of property accounting tools for companies of all sizes. Second Nature announced a partnership with AppFolio earlier this year, which just goes to show how much we respect and appreciate their impact on the industry. You don't need to be an AppFolio customer to find its blog relevant—in fact, much of the content focuses on issues of broad interest to property management and property investment groups. One of AppFolio's biggest strengths is its wide-ranging first-party data, which allows them to provide unique insights into industry trends, resident preferences, and market performance. 3. Bay Management Group blog The Bay Management Group manages over 6,000 units throughout Pennsylvania, Maryland, Virginia and Washington, D.C. Their blog reflects this partially regional focus, with categories including “Property Management in Baltimore” and “Owning a Rental Property in Pennsylvania." However, a lot of the team's content is relevant to the whole property management business, with articles including “7 Ways to Ensure Your Potential Tenant’s References are Real,” “Tips for Successful Real Estate Partnerships” and “What is the Renter’s Bill of Rights and How Does It Protect Tenants?” The blog caters to property managers, residents, and investors alike, making it one of our favorites for its Triple Win approach. This is a great blog that hosts archives going back to July 2012, making it one of the more venerable sites in this list. 4. Nest DC blog Nest is a Washington management firm that focuses on homes and residents in the greater Washington, D.C. area. With expertise in single family homes, condos, multifamily housing, and mixed-use property in high-density, urban environments, Nest has something for everyone on their blog. Its clean, stripped-down design dispenses with the standard trappings of blogs such as tags and categories, and features both plenty of articles for managers and residents. With seasonal topics like winter maintenance prep, and regionally focused articles like "5 Things You Should Know to Settle Like a Local in DC," Nest leverages 16 years of experience to bring you the most important insights into property management. 5. Buildium blog The property management software company Buildium publishes blog posts and other resources on a wide range of property management topics, from accounting & taxes to legal considerations, to marketing tips and the latest news from Buildium. Clearly, the content is aimed at a broad segment of the property management community, including rental property owners, property maintenance professionals, and real estate investors. That said, Buildium really excels in their writings about property management finances and accounting, providing comprehensive accounting lessons as well as tips and tricks to streamline your financial workflows. 6. BiggerPockets BiggerPockets is positioned as a complete resource for anyone looking to succeed in real estate investing. As such, the blog is focused primarily on property investment and rental income, especially macroeconomic trends impacting housing values, interest rates, and delinquencies. However, it also provides a number of articles on property management tactics, along with OpEds on industry goings-on that you might find particularly interesting. 7. Rentometer blog Rentometer collects and analyzes approximately 10 million rental records annually, making them a leader in rental data. The Rentometer blog is takes advantage of this capability, providing marketing insights to help manage real estate businesses, all backed by hard numbers. Its blog dates back to 2018, and provides perspectives on remote property management, tools for growing real estate businesses, and more. You'll find advice on negotiating with residents, the fastest growing markets in the U.S., tools for growing your business, and, of course, leveraging Rentometer's solutions. 8. Fourandhalf's Marketing and Business Strategy blog Fourandhalf is a property management marketing agency, so it makes sense that their blog is largely focused on go-to-market strategy. You'll find plenty of articles on things like advertising to new clients, branding your company, and search engine optimization, many of them written by expert guests. While much of their content skews toward newer or growing property management companies, they also take time to touch on current debates in the industry, like whether you should publicly share your pricing on your website, or whether going viral is the key to business success. If you're looking for ways to amplify your company's message and increase visibility, Fourandhalf has content for you. 9. Rent Manager blog The Rent Manager blog has evolved from a customer-focused outlet to a true industry resource, providing insights on the latest trends and news, including HUD updates, fair housing, and maintenance guides. While you'll still get the most out of Rent Manager's blog if you use their property accounting software, there's plenty of value even if you don't. Their content on data, tooling, and regulatory updates provides important insights for anyone in the industry. 10. All Property Management blog The All Property Management Blog reflects its identity as a marketplace for property management services, with articles aimed at real estate investors as well as property managers. APM published high quality templates and guides for things like writing a resident welcome letter or working with investment associations. The site also offers useful tools like a state-by-state laws database, comprehensive resources on fair housing, and reviews and recommendations for various property management software solutions and other technology. Their content is written for a combination of real estate investors and property managers, so you're sure to find something for you. Follow the Second Nature blog, podcast, and events to keep tabs on the property management industry Here at SecondNature.com, you’ll find an abundance of resources designed to keep you up to date on events, analysis, and expert perspectives in the field – all geared toward helping property managers create a “Triple Win” that benefits residents, investors, and property managers alike: Triple Win Property Management Blog Triple Win Property Management Podcast Triple Win Property Management Events Learn more about SecondNature’s Resident Benefits Package, which is designed to generate revenue and establish Triple Win conditions for your residents, investors, and business.

Calendar icon June 11, 2025

Read more

Property Management Guide for Foreign Investors

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

Calendar icon June 10, 2025

Read more

Topics

Top Property Management Dashboards for 2025

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

Calendar icon June 9, 2025

Read more

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

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

Calendar icon June 5, 2025

Read more

5 Valuable Property Management Courses, Workshops, and Certifications

Continuing education is vitally important for property managers, but with such a wide variety of online property management courses available, how can you know which are worthwhile? There are plenty of online courses and certifications worth pursuing, and we've outlined some of the best here. These are courses that provide opportunities—sometimes for free—to network, stay ahead of the curve, develop specific skillsets, and learn about vendor products that can help your business grow. Certified Property Manager designation "CPM" is an accreditation overseen by the Institute of Real Estate Management (IREM) that stands for Certified Property Manager. You may have noticed that many consultants and broker/owners of large companies carry the CPM designation. IREM's CPM course is a large undertaking, but it’s a well-renowned, highly respected designation in the industry. There are eight courses required to earn your certification, and the full process takes between 12-18 months according to IREM. The course list features sessions covering everything from real estate law, maintenance, and risk management to being an effective leader. Courses focus on real-world application and skillset development rather than theory, and many property managers have cited both the lessons and networking opportunities as tools that have advanced their career. Learn more about the CPM Becoming a Residential Management Professional Another popular certification is Residential Management Professional (RMP), a designation managed by NARPM. RMP is the most accessible of NARPM's designations, designed for newer members. The primary requirement to be eligible for an RMP designation is to manage at least 100 doors for a two year period or longer. If you're eligible, you can start the process of obtaining your RMP by taking a set of courses focused on helping you grow your business. From there, there are a few events to attend before you select your path to course completion. The whole process can be completed in a year, and you must complete all requirements within a three-year window. The process of earning the designation is valuable itself, and shouldn't be seen as simply a means to an end. There are valuable teachings, networking opportunities, and takeaways throughout. Learn more about the RPM The Master Property Manager designation Property managers who have already completed NARPM’s RMP designation have the opportunity to continue their learning and development through the Master Property Manager (MPM) designation. PMs are eligible if they’ve managed over 500 doors for at least a five-year period. The MPM is an advanced designation that is not for the faint of heart. It's designed for true experts in the field, and is the highest level designation that NARPM offers. Master Property Manager is a simple concept... this is a professional with years of experience and commitment to the industry. This person is one who can be trusted to provide quality service and care to you and your valuable asset. - Andrea Caldwell MPM, RMP, former NARPM President Learn more about the MPM Second Nature's RBP Workshop For property managers looking to grow their profit per door, a Resident Benefits Package can be an incredible tool. Second Nature hosts a monthly workshop for property managers in all stages of managing an RBP. At an RBP workshop, you’ll learn how an RBP creates value and grows profit per door while positively affecting turnover rates, along with what’s included and how to manage a rollout. More importantly, you’ll hear from real property managers that have successfully rolled out an RBP and seen the results, so you can better understand whether it's the right path for you. The best part is that it’s completely free. The Certified Apartment Manager accreditation For multifamily property managers, the CAM, or Certified Apartment Manager, is an industry credential used to demonstrate high levels of competency and expertise in multifamily property management. Offered by the National Apartment Association (NAA), CAM courses cover everything from inspections and maintenance to employment regulations and accounting practices. Once you've completed the course, you must sit for the CAM exam, which is a four-hour timed exam taken in a proctored setting. NAA offers free practice tests online, so property management professionals who are curious about the exam can get a feel for it before committing to the coursework. In 2025, NAA released a refreshed version of the CAM course, proving their commitment to serving an evolving industry. With both online and in-person options, CAM a very accessible program for property managers who want to demonstrate their expertise. Learn more about the CAM

Calendar icon June 3, 2025

Read more

Receive articles straight to your inbox

How to Find Real Estate Investors for Your PM Business

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

Calendar icon June 3, 2025

Read more

Four Qualities Every Property Management Leader Needs to Have

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

Calendar icon May 29, 2025

Read more

5 Property Management Industry Trends Shaping 2025

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

Calendar icon May 20, 2025

Read more

notify-tenant-sale-of-property

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

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

Calendar icon May 19, 2025

Read more

Why Investor Education is my Go-to-Market Strategy

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

Calendar icon May 15, 2025

Read more

Single family home

How to Write a Friendly Rent Increase Letter + Free Template

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

Calendar icon May 14, 2025

Read more

How Many Properties Can One Person Manage?

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

Calendar icon May 13, 2025

Read more

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

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

Calendar icon May 8, 2025

Read more

AI for Property Management: Benefits and Top Tools

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

Calendar icon May 6, 2025

Read more

9 Marketing Ideas to Unlock Growth for Your Property Management Company

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

Calendar icon May 2, 2025

Read more

Why I Quit Property Management for Coaching

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

Calendar icon May 1, 2025

Read more

Property Management Staff: Hiring by Business Growth Stage

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

Calendar icon April 29, 2025

Read more

Learning to Empower your Property Management Employees

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

Calendar icon April 24, 2025

Read more

Leading Means Truly Connecting with your Team

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

Calendar icon April 22, 2025

Read more