Calendar icon November 16, 2023

How to Screen Potential Tenants: Tips for Property Managers

Photo of Andrew Smallwood

Andrew Smallwood

Chief Customer Officer - Second Nature

What we'll cover

Tenant Screening Tips

Example tenant screening checklist

Benefits of screening tenants

Tenant screening services

Which tenant screening solution is right for you?

How does Second Nature help with the tenant screening process?

Screening tenants is an essential part of a property manager’s job. But all too often, the approach is strictly transactional: Forms must be scanned and uploaded, data must be entered manually, and property managers and tenants alike can find the process cumbersome and frustrating.

This legacy approach isn’t enough in today’s fast-moving experience economy. Companies like Google, Uber, and Amazon have changed how consumers think. Convenience isn’t a luxury anymore; it’s an expectation. And for a property management company, convenience can be a strategy. When approached through the lens of a holistic experience, tenant screening is one of the best ways to set yourself apart.

Related: State of Resident Experience Study

  RBP Demo Video  

How to Screen Potential Tenants

The first step to improving a process is to ensure you can structure it. What follows is a best-practice approach to tenant screening, complete with tips for success at every step. 

1. Understand tenant screening laws 

With a Triple Win mindset, PMs will seek tools that help them remain objective and fair to all applicants. That’s why every professional PM should be familiar with tenant screening laws in their area. Tenant screening laws are regulations put in place to protect tenants from discrimination, unfair eviction, etc. They govern interactions between real estate investors, property managers, and tenants. 

One of the best-known regulations is the Fair Housing Act, which protects tenants from discrimination on the basis of:

  1. Race
  2. Color
  3. Religion
  4. National Origin/Ethnic Background
  5. Gender
  6. Familial Status
  7. Mental/Physical Disability

2. Create tenant screening criteria 

Creating tenant screening reports is an important part of the rental property management process. Here are the steps to take:

  • Define your target market: Identify the type of tenants you want to attract based on factors such as property location, size, price, and amenities.
  • Set minimum requirements: Determine the minimum criteria that all potential tenants must meet, such as a certain credit score through ResidentScore or other tools, or income level.
  • Consider additional factors: Other factors may be important to you, such as employment history, rental history, criminal background, and references.
  • Establish a scoring system: Create a system to evaluate potential tenants based on the criteria you've established. For example, you may assign points for a positive credit history or deduct points for a criminal record, taking care to evaluate each person individually and fairly.
  • Apply the criteria consistently: Ensure that you apply the screening criteria consistently to avoid discrimination and potential legal issues.
  • Review and update regularly: Review and update screening criteria regularly to ensure that they remain relevant and effective for your rental property.

3. Check credit report and background  

Some screening providers are leveraging financial data APIs or "open banking" tools to automate income and employment verification. Tenant screening services like Plaid, Finicity, Pinwheel, and more are being applied to rental screening and replacing manual document upload and review. 

You can also find tools for getting a full credit report and credit background. Credit reporting should be compliant with the Fair Credit Reporting Act (FCRA).

As identity fraud becomes more prevalent, identity verification tools are becoming more sophisticated. Some can even effectively identify past rent transactions in the bank account ledger. Most of these tools are being built for large apartment operators, but more innovation is coming to SFR, too. 

Second Nature’s Resident Benefits Package includes a $1 million identity protection service and credit building for tenants. These programs protect your tenants and help attract people who want to build responsible financial security.

4. Verify employment and income

A big question on every PM’s mind is how to evaluate a prospective tenant’s ability to pay rent. Is income what matters? Credit history? The cash balance a tenant carries? Or just their history of prioritizing rent payments?

The traditional (and oversimplified) answer is to slap on the widely accepted income-to-rent ratio of 3-to-1 or to look for a specific credit score. But neither of these tell the whole story of a tenant’s ability, or even likelihood, to pay rent and to pay on time. 

A much more telling number is a potential tenant's net income. Net income is true spending power. A net income of 2.5 or 3 times the monthly rent is a good starting point. But how do you quickly verify this information? Pay stubs will work, but experienced property managers know a simple pay stub template is a Google search away. 

This is where an automated income verification tool can provide an advantage, reliability, and speed. You’ll have much more accurate insight into tenants’ ability to pay rent and get them verified in much less time.

5. Review rental history and evictions

As a follow-up to background checks, property management companies should have a process for reviewing an applicant’s rental history and potential evictions. 

Don’t just accept a letter from previous landlords – call and ask about their experience. Getting their perspective is one of the best ways to check on rental and eviction history.

6. Check criminal record with multi-state search

When it comes to tenant screening, one crucial aspect is conducting a criminal record check that includes a multi-state history report. This step is vital to safeguard you and your team from legal headaches or disruptions down the road. A multi-state search provides a broader view of an applicant's history, as it covers more than just the state they currently reside in or are applying from. This is particularly important because individuals may have lived or committed offenses in different states.

By implementing a comprehensive background check that spans multiple states, you can uncover any criminal history that might not be evident in a local or state-only check. This process helps in making informed decisions about potential tenants, ensuring you're not inadvertently overlooking important information that could affect the security of your property or the neighborhood. Of course, this doesn't mean denying anyone with a criminal record. Fair housing laws will have established rules on this that property managers should know well for their area.

7. Interview tenants before signing a lease  

Property managers should ensure someone on their team conducts an interview with potential tenants, particularly in SFR property management, where lease terms are usually longer.

Here is a list of questions that property managers may consider asking potential tenants during the screening process:

  1. What is your current occupation and monthly income?
  2. Have you ever been evicted from a rental property or broken a lease agreement?
  3. How long have you been at your current job, and what is your employer's contact information?
  4. Do you have any pets, and if so, what type and how many?
  5. What is your desired move-in date and lease length?
  6. Will you have any roommates or co-tenants, and if so, what are their names and contact information?
  7. Have you ever filed for bankruptcy or had any outstanding debts?
  8. Do you have a good rental history, and can you provide contact information for your previous landlords and previous addresses?
  9. Are you willing to undergo a tenant credit check and background check as part of the application process?

Again, please note that investors and property managers should be careful not to ask discriminatory questions that could violate fair housing laws. 

Additionally, it may be helpful to provide potential tenants with information about the property, such as move-in costs, lease terms, and any rules or restrictions that apply to the rental property. After all, the property manager’s goal is to create an experience that caters to tenants in order to create the best value for their investors.

download rental inspection checklist template

8. Follow a fair policy when accepting or rejecting tenants

A consistent and objective set of screening criteria goes a long way to simplifying the acceptance or rejection process. 

Here are some steps to follow when accepting or rejecting rental applicants:

  • Evaluate the applicant's information: Review the application and any supporting documentation, such as credit reports, employment verification, and rental history. You may also charge an application fee.
  • Compare the applicant to your screening criteria: Compare the applicant's information to your established screening criteria and determine if they meet the minimum requirements.
  • Consider any additional factors: Consider any additional factors that may impact the applicant's suitability as a tenant, such as their behavior during the application process, their responsiveness to communication, and any references provided.
  • Communicate your decision: Communicate your decision to the applicant in writing, providing clear and specific reasons for your decision. Be sure to also inform the applicant of their rights to request a copy of an applicant’s credit report and to dispute any errors.
  • Keep accurate records: Keep accurate records of your tenant screening process, including copies of all applications and supporting documentation, as well as notes on your evaluation of each applicant.
  • Maintain consistency: Apply your screening criteria consistently to all applicants to avoid any potential discrimination claims.

Remember, it is essential to treat all applicants fairly and to follow fair housing laws and state-specific regulations to avoid discrimination.

Example Tenant Screening Checklist   

Here is an example of a comprehensive tenant screening checklist template, based on the best tenant screening services:

1. Basic Information:

  • Full name
  • Current address
  • Contact information (phone, email)

2. Income and Employment:

  • Proof of income (pay stubs, bank statements, tax returns)
  • Employment history (length of employment, job title, employer contact information)
  • Gross income (should be 3 times the monthly rent)

3. Credit History:

  • Credit score (should be above 650)
  • Credit report (to check for bankruptcies, late payments, collections)
  • Outstanding debts

4. Rental History:

  • Previous rental history (landlord contact information, length of stay, reason for leaving, address history)
  • Evictions (any prior evictions, eviction records, eviction reports)

5. Criminal Background:

  • Criminal history (felony convictions, sex offender status)

6. References:

  • Personal references (contact information for at least two personal references)
  • Professional references (contact information for at least two professional references)

7. Other Factors:

  • Pet ownership (type, size, breed, and number of pets)
  • Smoking policy (whether or not smoking is allowed in the rental property)
  • Other specific requirements (e.g., credit checks, criminal background checks, rental history checks, etc.)

The criteria on this checklist may vary based on the specific needs and requirements of the investor or property manager – and local laws. 

 

Happier residents

 

Benefits of Vetting Tenants

Why screen tenants? The answer might seem obvious. You can Google “tenant screening,” and you’ll see any number of articles giving the common reasons for screening tenants: protecting your property, protecting your financial situation, etc. 

And yes, all of that is important. But elite property managers know that protecting yourself is the bare minimum. The best PMs consider the tenant screening process their first chance to make an impression and win the best tenants. Success is about creating and delivering the best experiences for tenants, investors, and property managers. 

At Second Nature, we call this the Triple Win. Property managers should be thinking: “How do we design the screening process for a Triple Win?”

Here’s what we mean by that.

A win for investors

What do real estate investors want? Bottom line: To maximize their investment by having all residences occupied by good tenants.

But there’s tension when you’re aiming to maximize investment. Investors have two primary needs when filling a rental property, and they can seem opposed:

  • How do I select a quality tenant who will pay rent on time, stay a long time, take care of the home, and be generally cooperative? 
  • How do I fill the property as fast as possible? Every day a home is vacant, it generates zero revenue and incurs costs. 

Investors win when they have a screening process that can deliver quality tenants, fast.

A win for tenants

What do tenants want? Bottom line: To be approved quickly and easily. 

Think about when you’re applying for a job. The employer honestly can’t work too fast to get you in a good seat. The faster, the better. 

As we mentioned before, convenience is no longer a luxury; it’s an expectation. Tenants want to move quickly toward the lease agreement without too much effort. Therefore, building convenience into the screening process is a crucial strategy for a successful property manager to attract the best business. 

A win for property managers

Professional property managers stand out by providing experiences that are consistent, convenient, and rewarding for investors and tenants. But they also need to design the process with the experience of their team in mind, too. 

PMs focused on a Triple Win can align qualified tenants’ desire for convenience with an investor’s desire to be protected from risky applicants and vacancy costs. As if that’s not enough of a challenge, they also need to accomplish this in a way that complies with fair housing regulations. 

Therefore, an enterprising property manager will design the screening process to create experiential value and better monetize each property. 

Ultimately, a Triple Win for tenant screening is introducing speed, accuracy, and convenience to a legacy process. Let’s dive into that concept in the next section. 

Property Management Tenant Screening Services  

Tenant screening services can help manage the identity verification process, an assessment of the prospective tenant's financial situation, and evaluate any factors that may be relevant. They typically access information from a wide variety of sources to compile a current and precise tenant portrait.

Most tenant screening services offer their services online, where property managers can supply the identifying information of an applicant to get a full report within minutes.

Here are just a few: 

  1. National Tenant Network
  2. TransUnion
  3. Experian
  4. Findigs
  5. Rent Butter
  6. Snappt
  7. Verifast

Which Tenant Screening Solution is Right for You?

When selecting a tenant screening solution, begin by assessing your specific scope as well as budget constraints. Bear in mind that some solutions are limited in scope in that they primarily provide credit reports, while others may be geared toward landlords rather than property managers.

In all cases, seek out providers with reputable customer support (as indicated on popular software comparison sites as well as app download stores) and user-friendly interfaces to streamline the screening process. Additionally, consider any legal requirements or industry standards relevant to your situation. 

By weighing these factors, you can select a tenant screening solution that aligns with your requirements and helps mitigate some of the risks associated with property management.

How Does Second Nature Help With the Tenant Screening Process?

Like we’ve said – and as most PMs recognize – legacy “tenant screening” systems are the worst. They’re clunky. They’re long and tedious. They require a ridiculous amount of manual work to upload pay stubs or other documents. 

Think about how seamless an experience it is to find a listing on Zillow. It works smoothly on desktop or mobile, and the app is clean, easy, and responsive. You can find 3D tours, self-showings, and all kinds of innovations happening in the discovery process. Then you hit "click to apply.” Whomp whomp. Suddenly, you hit a mediocre (or worse!) experience that feels a decade old or more. It can take days from that initial button click for submission, review, and official approval/declination.

But imagine if this was all designed through an experience lens instead of an accounting or transactional lens. PMs who want to stand out will have a screening process that works like an Easy Button. So how might we make it as easy as possible for the best tenants to get approved same-day by the best property managers in the country? 

Think about your current screening system. You can see if a tenant paid rent, but can you see if they changed their filters, reported minor maintenance issues, how they treated and communicated with staff, what condition they left the property in, and the security deposit status? Do you have a Resident Benefits Package that attracts tenants who care about good habits and supports them in those habits?

The screening process sets the tone and the standard for the rest of your relationship with a tenant. Property managers can be part of helping build good habits right from the start.

Learn more about what tenants are looking for today and how PMs are innovating in response.

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Benefits of Outsourcing Property Management Services

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

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9 Best Property Management Podcasts to Follow in 2024

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

Calendar icon September 30, 2024

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