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Triple Win Property Management Blog

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How to Reduce Employee Turnover in Property Management: A Guide to Retaining Your Valuable Team

The property management industry faces a significant challenge: high employee turnover. In the US, the national average employee turnover rate measured in 2023 across all sectors was 17.3%. With highs of nearly 33% in some sectors, and lows of 12% in others, turnover is a pressing issue. Indeed, the National Apartment Association (NAA) reported that multifamily industry turnover rates in the last decade were up to 40%. While numbers for single-family home property management companies are harder to measure, the bottom line is that employee retention is often a casualty of the stresses that come with the high stakes of simultaneously managing people’s homes on one hand, and substantial real estate investments on the other. A revolving door of staff creates a ripple effect of negative consequences: residents face disruptions in service and communication, while companies struggle with lost productivity, increased recruiting and training costs, and a decline in overall morale. This comprehensive guide will equip property management teams with the tools and strategies to build a happy, engaged workforce and keep valuable co-workers on board. Understanding the Reasons for the High Turnover Rate Multiple factors contribute to the high property management turnover rate, particularly during inflationary periods, when low wages and benefits may fail to match the demanding workload. Team members face long hours, stressful interactions with residents, and the constant pressure of handling emergency situations. Many may feel undervalued and underappreciated, with limited opportunities for career advancement. Poor communication within the company, coupled with an unsupportive culture, will further fuel feelings of dissatisfaction and disengagement. Another factor may well be the cultural fallout from the recent pandemic, which catalyzed large changes in labor market behaviors, particularly among the so-called millennial generation. This has driven an upending of traditional wage-earning paradigms, giving rise to an endemic “gig economy” that industry and governments are still grappling with across sectors. Building a culture of retention Shifting the focus to a positive and supportive work environment is key to stemming the tide of staff turnover of property management employees. Here are several strategies to help cultivate a culture of retention and employee satisfaction: Competitive compensation and benefits Analyze local market wages and offer salaries that reflect the responsibilities and demands of the job. Provide comprehensive health insurance plans, paid time off, and other benefits that demonstrate your commitment to employee well-being. Consider offering perks and incentives such as gym memberships or fitness equipment subsidies to further enhance the compensation package. Work-life balance Promote healthy boundaries by offering flexible scheduling options whenever possible. Explore remote work opportunities for certain roles, especially those suited to administrative tasks. When dealing with difficult resident issues, encourage employees to take breaks throughout the day to prevent burnout. Implementing a core-hours policy, where employees are guaranteed to be available during specific times for urgent matters, can help maintain a sense of work-life balance. Investment in training and development Investing in your employees demonstrates your commitment to their growth and success. Offer ongoing training programs encompassing property management software, tenant relations, conflict resolution, fair housing laws, and industry certifications. This not only enhances their skillset and knowledge, but also empowers them to perform their jobs more effectively and confidently. Clear communication and recognition Establish consistent communication channels to keep employees informed and engaged. Hold regular team meetings, conduct performance reviews, and encourage open communication from the bottom up. Address concerns promptly and professionally. Most importantly, recognize and celebrate employee achievements publicly. A simple "thank you" or a public shout-out goes a long way in boosting morale and fostering a sense of appreciation. Building a team environment Foster a sense of teamwork through team-building activities, mentorship programs, and encouraging collaboration. Promote a supportive environment where colleagues can rely on one another for help and share best practices. This creates a sense of community and belonging which helps reduce feelings of isolation and discouragement. Strategies to Reduce Stress and Burnout High levels of stress can lead to employee burnout and ultimately, turnover. Here are some practical solutions to address this concern: Workload management Analyze workload distribution within your teams and identify opportunities for better balance. Consider cross-training employees to share the burden and alleviate pressure points. Utilize temporary staffing solutions to handle peak periods or unexpected vacancies. Technology and automation Embrace technology to streamline tasks and free up employee time for more strategic endeavors. Implement property management software to automate tasks such as rent collection, maintenance requests, and lease renewals. Consider online portals for residents to submit service requests and access property information, which reduces the burden on leasing and maintenance staff. Stress management resources Offer access to Employee Assistance Programs (EAPs) to provide confidential counseling and support for employees dealing with personal or work-related stress. Consider offering on-site mindfulness training or wellness programs to help employees develop healthy coping mechanisms for managing stress. Retention through Growth and Opportunity Providing a clear career path is critical for retaining top talent. Here's how you can promote employee growth and development: Create clear career paths Map out advancement opportunities within the company and establish clear performance benchmarks for promotion. This gives employees something to work towards and motivates them to invest in their long-term success with the company. Mentorship programs Establish mentorship programs that connect experienced employees with newcomers. Mentors can provide guidance, answer questions, and offer support during the onboarding process and beyond. This fosters a sense of community and helps new hires feel more integrated into the team. Cross-training Invest in cross-training opportunities to broaden employee skillsets and increase job satisfaction. This allows employees to gain exposure to different areas of property management, keeps their work interesting, and prepares them for potential future opportunities within the company. Empowering Your Team: Fostering Ownership and Engagement Empowering your employees fosters a sense of ownership and engagement, leading to a more motivated and productive workforce. Delegate tasks and decision-making Delegate tasks that match employee skill sets and provide them with some level of decision-making authority. This demonstrates trust in their abilities and encourages them to take ownership of their work. Encourage feedback and suggestions Create an environment where employees feel comfortable sharing their ideas and suggestions for improvement. Hold regular brainstorming sessions and actively solicit feedback on company policies, procedures, and resident services. Recognize and value employee ideas Acknowledge and value employee ideas, and whenever possible, implement suggestions that can enhance efficiency or improve resident satisfaction. This demonstrates that their input matters and fosters a sense of ownership within the company. Conclusion Reducing employee turnover in property management requires a multi-pronged approach that prioritizes employee well-being, professional development, and a sense of belonging. By implementing the strategies outlined here, property management companies can cultivate a happy, engaged workforce that delivers exceptional service to residents and contributes to the company's long-term success. Remember, a strong team is the foundation for a thriving property management business. Invest in your employees, and they will invest in your company's success. Learn more about property management company best practices, marketing, and more in our Second Nature Community,

Calendar icon May 14, 2024

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What Are the Benefits of Hiring Property Management Virtual Assistants?

A property management virtual assistant, or property management VA, is a remote professional who provides administrative, operational, and sometimes technical support to property managers and their teams. As a property management company grows, its workload inevitably increases. In that scenario, virtual assistants can be a valuable asset thanks to their ability to handle repetitive tasks like lease renewals, resident communication, and basic bookkeeping. This frees up property managers to focus on strategic initiatives and resident relations, and allows the company to manage more properties and increase revenue without proportionally increasing staff costs. In today's post, we'll dig into the benefits of hiring virtual assistants for property management companies, from improved efficiency to reduced admin burdens and more. Improving operational efficiency and productivity Property management business owners juggle a vast array of tasks, from marketing vacancies to managing resident concerns. Virtual assistants can be powerful allies in this full-time endeavor, boosting operational efficiency and productivity in several key ways. Filed under "streamlining repetitive tasks" are basic operations such as handling routine resident communication via email, phone calls, or text. This might include sending lease renewals, answering basic questions about property policies, and scheduling appointments for maintenance or viewings. Virtual assistants can also support various marketing and prospecting/lead generation functions, including social media management (e.g., the creation of posts publicizing property listings, publishing calendar updates, etc.). Another area where virtual assistants can boost efficiency is in the automation of invoicing for rent payments, sending receipts to residents, and tracking incoming payments. This frees up property managers from manual tasks and reduces the risk of errors. As for more complex processes such as background checks and resident screening, while virtual assistants cannot themselves conduct the checks, they can gather necessary information, initiate renter background check requests with service providers, and follow up on reports. They can also assist with time-consuming tasks such as generating basic real estate business reports on areas like vacancy rates and resident demographics. This data can be valuable for property managers and property owners to identify trends and make informed decisions. Reducing costs by outsourcing back-office operations Back-office operations can quickly become a time and resource drain for property management companies. In this respect, virtual assistants can help generate cost savings by streamlining and managing these essential tasks. In handling routine back-office tasks, virtual assistants free up property managers to focus on high-value activities like strategic planning, resident relations, and property marketing. This increases overall productivity and leads to better financial returns. As indicated above, virtual assistants can also automate repetitive tasks like invoicing, rent collection, and data entry. This minimizes errors and saves time compared to manual processes, reducing the need for staff to correct mistakes. On the resident experience side, virtual assistants can help reduce resident turnover by ensuring timely communication, efficient maintenance request management, and a positive resident experience. This boosts cost-effectiveness in relation to marketing vacancies, new resident screening, and repairs needed to prepare properties for new residents. Reducing the administrative burden Property management companies juggle many tasks that can leave them swamped with administrative duties. Virtual assistants can help tackle some of these time-consuming chores, such as fielding resident inquiries, handling maintenance requests, and even scheduling property inspections, or showings for new residents. This ensures timely responses and frees up the property manager's time for more strategic tasks and business needs. They can also manage the influx of documents, organizing lease agreements, resident applications, and financial records. This keeps everything organized and readily accessible, saving the property manager from the necessity of digging through files. Fixing capacity limitations When property management companies are limited in their staffing resources, a virtual team can act as an extension of the in-house team, effectively breaking through these capacity limitations. For example, by handling routine administrative tasks like resident communication and lease renewals, virtual assistants free up property managers to focus on acquiring new business or managing a larger number of properties. A virtual property management assistant can also serve as a remote team by operating outside regular business hours, meaning tasks like fielding resident inquiries or scheduling maintenance requests can be addressed after hours, improving overall responsiveness and customer satisfaction. In essence, they act as a force multiplier across time zones, extending the reach and capacity of the existing property management team members. Outsourcing non-revenue tasks In sum, virtual assistant services can encompass a wide range of non-revenue property management tasks, workflows, and job descriptions: Administrative duties This can include data entry, scheduling appointments, managing calendars, and filing documents. Resident communication Responding to routine resident emails and calls about things like maintenance coordination, parking inquiries, or noise complaints can be time-consuming. A virtual assistant can handle these initial interactions. Lease management Virtual assistants can support PMs with lease renewals, sending out reminders, processing paperwork, and answering basic resident questions about the lease agreement. Move-in/move-out coordination Scheduling onboarding processes, move-in inspections, collecting pre-move-in information from residents, and processing move-out checklists are all tasks a virtual assistant can handle. Service provider communication Coordinating with cleaning crews, landscapers, and other vendors often involves pricing inquiries, scheduling appointments, following up on requests, and managing invoices. A virtual assistant can help streamline this communication. Report generation Virtual assistants can compile routine reports such as vacancy rates, maintenance requests, and rent collection summaries. The last word At Second Nature, we’ve pioneered the first-ever fully managed Resident Benefits Package. The 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. 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 what's important to them.

Calendar icon April 29, 2024

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7 Best Property Management Newsletters

Property managers fill many roles and hold many responsibilities. That’s why it can be helpful for them to subscribe to leading industry newsletters and publications. These publications deliver strategic time-savings by providing focused, often actionable updates on market news such as real estate market fluctuations, investment property trends, and resident demographics. They can also keep you informed about updates to legal considerations related to rental properties, so you have a longer runway to adapt to any changing requirements. Finally, they’re an ideal way of keeping tabs on the latest in best practices and tech advancements, so your operational toolbox always has the best tools available, for what can often be a challenging role. In this post, we’ll survey some of the top newsletters in the industry, and provide quick takeaways about what makes each worth the read. 1. Second Nature's Triple Win Newsletter Our very own bi-weekly newsletter is a fun and informative digest of all things property management, with a focus on our "Triple Win" approach, which favors conditions that benefit residents, property management companies, and owners alike. We make it engaging and helpful, with sample content including articles such as "Improving Delegation with the 'Who' Not 'How' Approach," "Property Management Horror Stories," and "How to Install and Manage Processes in Property Management," plus interviews with industry veterans, our take on the best of social media, and the occasional PM-focused meme. Subscribe here 2. Peter Lohmann's Newsletter Peter Lohmann is the CEO & principal broker of RL Property Management, a residential property management company located in Columbus (Ohio). His weekly newsletter has 5,000 subscribers, and according to a recent social media posting on Twitter/X, focuses on “sharing everything that works as we grow our property management business.” A testimonial from one newsletter subscriber describes the content as “honest, objective, and eye-opening,” and this does appear to be the brand of the email newsletter, as it is written in a personable, conversational tone that covers a wide range of meaningful content and marketing strategies, ranging from how daunting it can be to hire a new COO, to extended discussions around client churn (using data from his own company), as well as spotlights on conferences, local events, and new technology. Subscribe here 3. PlanOmatic Monthly Beaker PlanOmatic provides photos, floor plans, and 3D tours for single-family rental property owners and property managers. Their monthly newsletter, The Monthly Beaker, bills itself as “everything you need to know about SFR, once a month, in one place.” Although it is still a fairly “young” publication at just over a year old, it has already garnered over 750 LinkedIn subscribers to go along with their email list. It’s easy to see why – the format makes it a lot of fun to read, with an introductory editorial segment delivered in a conversational tone that nevertheless provides a significant quantity of information. This is typically followed by a series of quick hits consisting of proprietary insights into the SFR space, important data from around the sector, and final bullets providing key takeaways (“Everyone knows this stuff and you should too”) from the property management industry. Subscribe here 4. National Rental Home Council As the non-profit trade association of the single-family rental home industry, the National Rental Home Council (NRHC) publishes a wealth of resources for its different target audiences. NRHC’s intent is to support legislative and regulatory frameworks that incentivize housing providers to augment and enhance accessibility to a range of fair housing options for both homeowners and renters. This means its resources are designed to be of interest to a variety of different stakeholders within the rental market. Members receive a weekly Briefing Report on the single family rental home industry, the Quarterly NRHC Newsletter, and a Weekly Newsletter featuring national coverage and news alerts. For non-members, the NRHC issues regular news releases, as well as resources including FAQs, reports and primers, fact sheets, and videos. With archives dating back to 2015, this site is a valuable and well-established industry resource. Visit the website 5. The Evernest Newsletter Evernest’s focus is on single-family houses, condos, small multi-family buildings, and HOA management. It manages over 15,000 properties for over 6,000 owners, and its HOA and Association division serves over 17,000 homeowners. As for the Evernest Newsletter, its email list consists of over 18K landlords and real estate industry investors, all signed up to receive educational content for DIY landlords and real estate investors. This real estate newsletter also publishes content related to new podcast episodes from the Evernest team, articles and videos, and community content as well as information about upcoming events. Subscribe here 6. Jordan Muela’s Newsletter Jordan Muela has been in the property management industry for over 10 years, and is currently CEO of LeadSimple and co-founder of ProfitCoach. He started his now bi-weekly newsletter in 2021, which counts 4k property manager subscribers, and focuses on “people, process, and profit,” as he puts it. With catchy headlines and informative content, it’s worth browsing his page of posts to get a sense of his coverage. Sample headers include “Why what triggers you is a gift,” “There's a simple test to understand how aggressive your fees are,” “It's ok to want to quit,” and “2023 National PM Pricing Report”: suffice it to say that it’s all highly varied and readable stuff. Subscribe here 7. Marc Cunningham In addition to running the PM Build website, Marc Cunningham is the President of Grace Property Management & Real Estate. He's regularly featured in national real estate publications and podcasts, holds multiple designations, invests in residential and commercial real estate, and was named the 2018 national property manager of the year by Think Realty. At PM Build, Marc publishes a monthly video newsletter that addresses current topics and trends in the real estate property management space. With accessible topics such as “How To Deliver Bad News To Owner-Clients, “Top Tip To Be Successful In The Property Management Business," and “6 Numbers To Measure The Success Of Your PM Business,” his content is of immense value for new and seasoned property management companies alike. Watch episodes here Hungry for more news? Visit Second Nature’s Triple Win Property Management Blog

Calendar icon March 15, 2024

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7 Property Management SEO Tips to Drive Leads and Increase Revenue

Imagine that your prospective residents are searching for a rental property online. They'll type in terms like "houses for rent" or possibly even "property management companies near me." The websites that appear at the top of the search results are the ones that search engines such as Google consider most relevant and useful. That's the power of SEO, or Search Engine Optimization. This is a bit like having a big, brightly lit sign outside your office. The better optimized your property management website is, the higher it ranks in search results, increasing the chances of potential residents finding you online, which in turn increases leads, inquiries, and ultimately revenue. A well-executed SEO strategy can also help you save costs in other property management marketing areas, as well as boosting your brand's credibility (ranking well in Google search results helps instill trust in potential residents). Now, if you talk to an SEO consultant, odds are good that they'll present a laundry list of recommendations that include references to such terms as "long-tail keywords," "SERPS," "meta descriptions," and “alt tags,” which may not mean much to you. The good news is that you really don't need a lot of technical expertise to significantly improve your online visibility, rank well in search engine results pages, and attract more potential tenants. In fact, a bit of focused marketing effort is generally all it takes to boost your website ranking, and possibly end up on the first page of organic search results, depending on the competitiveness of your local market We'll guide you through some tactical tips you can use to successfully build your SEO ranking step by step. Optimize for local search with GoogleMyBusiness Page Setting up a location-specific Business Profile on Google is free, and boosts your chances of appearing in local searches for property management services. Think of this “local SEO” as a digital storefront that helps potential leads easily find accurate and useful information about your property management business. Here's how to optimize your Google My Business (GMB) page for local search: Claim and verify your business listing Start by claiming your GMB profile: Search for your company on Google Maps. If it already exists, claim it. If not, create a new listing. Google might send a postcard, phone call, or email with a code to verify. Verification is crucial, as it proves you're the rightful owner of your business listing. Complete your profile in detail - Company name: Use only your official business name, with no additional keywords. - Address and phone number: These must match how they appear on your website and across other online listings. - Category: Choose the most accurate primary category, like "Property Management Company." You can add additional categories if they are relevant. - Hours of operation: Keep these updated, including special hours or holiday closures. - Website and photos: Add your website link and high-quality photos of your properties, office, and team. Complete your "From the Business" description Briefly explain what your company does, the areas you serve, and what makes you unique. Include keywords related to property management and your location, like "[City name] property management" or "rental properties in [neighborhood]". Encourage and respond to reviews Positive reviews with keywords boost your ranking. Ask satisfied tenants to leave reviews. It's best to address both positive and negative reviews professionally and promptly, as this demonstrates your commitment to customer service. Share updates Promote new listings, community events, special offers, or company news in Google Posts. Include links to your website or booking forms to increase leads and website traffic. Remember that regularly updating your GMB profile indicates that your business is active, boosting search rankings. 2. Create a blog to write about the pain points of your audience A blog is a lot like having a knowledgeable property manager available 24/7 to answer questions and guide potential tenants. This kind of website content is also an ideal way to promote a brand of openness and transparency, which is critical for building "Triple Win" conditions. At Second Nature, we often refer to these conditions in the context of a business philosophy that benefits property managers, residents, and property owners alike. From an SEO perspective, a blog helps attract more search traffic, since each blog post will focus on relevant keywords and specific phrases that potential clients might be searching for, like "tips for first-time renters in [your city]" or "how to prepare your apartment for a move-out inspection." In this vein, you may find it helpful to conduct some keyword research to find out what kind of information is truly useful to your market, but resist “keyword stuffing” in the name of organic traffic gains and lead generation. Sincere content is good content and vice versa. A blog gives you a platform to regularly add fresh, relevant content (this is a ranking factor that Google has always loved), and establishes you as an authority on issues that are of concern to your target audience, such as maintenance tips, tenant laws, the local rental market, and more. Blog posts also allow you to naturally link to other relevant pages on your website, improving navigation and helping users find what they need. 3. Optimize landing pages with above-the-fold CTAs Any time you direct prospects to a key page on your website, the "above-the-fold" area is like the prime display area - it's what visitors see the moment they enter the room, without needing to scroll down. A CTA (call to action) is your eye-catching sales pitch. These days, it's usually a button yelling "Schedule a viewing!" or "Get a demo!" So why does this kind of on-page SEO matter? Search engines like Google love websites that provide a good user experience. A prominent CTA makes it super easy for visitors to take the next step and shows search engines they found what they were looking for. Plus, when someone who’s interested in your services can easily find ways to contact you or learn more, you're more likely to turn them from a casual browser into a potential tenant. Search engines notice that, too. 4. Fix site speed and user experience issues If your website was a rental property, site speed is like the time it takes a resident to find their home and get inside. A website that’s afflicted by pages with slow loading times is like a hidden property with a rusted-out lock – potential residents get frustrated and leave. When we're talking about user experience, we're really talking about how easy it is for them to find what they need once they're inside. If your website is confusing or has broken features, it's like an apartment with leaky pipes and no furniture – residents won't want to stay. If people land on your site and quickly leave (this is called "bouncing"), it tells the Google algorithm that your site might not be useful or relevant, harming your rankings. The longer people stay on your site, clicking around and checking out different listings, the better signal it sends to Google that your site is providing value. 5. Use your network to build backlinks naturally to the website Backlinks are links from other websites pointing back to your own website. High-quality backlinks from relevant websites within your network tell search engines that you're a trusted and authoritative source of information in your industry. This kind of “link building” can boost your search engine rankings and help more potential leads easily find your property management services online. Note that poor-quality backlinks can hurt your reputation, so it’s worth keeping tabs on the sites that are linking back to yours. There are a few different ways to use your network to build natural backlinks. If you sponsor a community event or partner with a local business, see if they'd link to your website on their event page or partner section. Offer to write a helpful article for a local real estate blog or community website in exchange for a link back to your website. If you're a member of an industry association or listed on reputable directories, make sure those websites link back to yours. Backlinks from relevant websites are one of the metrics that tell search engines you're a trusted and authoritative source of information in your industry, and help boost your search engine results. 6. Share your best content on social media Social media is a key part of any modern digital marketing strategy. After all, any time someone likes, shares, or comments on your social posts, it helps spread the word about your company. Sharing interesting articles, local news, or industry news helps boost your online presence and build your reputation as an engaged and knowledgeable property management company. Now, social media won't directly boost your search rankings overnight. In fact, it's a very long-term play. But it's a great way to build your reputation as a helpful resource and increase interest in your services, which indirectly helps your SEO efforts in the long run. 7. Incentivize customers to get reviews on your business profile Search engines like Google value websites with lots of positive, recent reviews. It shows your business is active, trustworthy, and provides a good experience. Essentially, they're online testimonials that tell Google your business deserves a top spot in search results. And the more good reviews your company has, the more likely you are to show up higher in search results for things like "property management near me." Plus, there is such a thing as actual star power: A high star rating next to your business name in search results acts like a magnet, attracting more searchers, clicks, and potential customers to your website. To incentivize reviews, you can simply make a polite request after a successful move-in or a resolved issue. You can also offer small discounts for future services (so long as this complies with applicable business regulations). Looking for more business insights from the Second Nature team? Get in touch, or stay tuned to our blog, podcast, and events.

Calendar icon March 13, 2024

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10 Best Property Management Websites for Property Managers

One important approach that property managers can take to keep up to date with current industry trends and approaches is to maintain a watchlist of different property management websites. That's because these sites often reflect best design practices and website templates as well as content sharing ideas. Today we'll cover some of the top property management websites, all considered favorites and regularly featured on “Top 10” lists in the industry, with a focus on what makes each one distinctive, whether from a design optic or a content perspective. 1. Second Nature It may seem odd for us to mention ourselves first on this list, but we are genuinely proud of our brand and messaging! After all, we’re in this business for a reason – and that’s why the content of the Second Nature website is so squarely people-focused, with an emphasis on solutions that improve the lives of residents, investors, and property managers alike. There’s a robust business principle underpinning this “Triple Win” philosophy: residents want their needs proactively anticipated, and they're willing to pay (and stay) for that service. This is particularly true for a younger generation that is attuned to the convenience offered by services such as Uber and Amazon. That’s why the language used on the website reflects a humanistic approach that goes beyond transactional basics, preferring “residents” rather than “renters,” for example, or “home” rather than “rental property.” It’s also why Second Nature’s “Resident Benefits Package” is front and center, and designed to give residents, investors, and property management businesses a win. Accordingly, like all successful marketing, Second Nature’s value proposition is not only tangible – it’s personal. Visit www.secondnature.com to learn more. 2. Nest DC The Nest DC website also focuses on the families behind the doors and the people behind the investment portfolios. Although residential real estate management is associated with a certain gravitas, the language as well as the overall branding of the Nest DC website plays off of a certain “avian” riff and is designed for easy readability. Where most sites incorporate an “About Us” page, for instance, Nest DC features an “About the Birds” content piece. It’s all done with serious intent, however, and the website design is sleek, clear, and user-friendly. Visit www.nest-dc.com. 3. Bay Management Group As soon as you hit the homepage of the Bay Management Group website, it’s clear that its primary target audience consists of real estate investors and property owners. That said, the site does host an impressive library of instructional and advisory videos for tenants, property managers, and landlords, as well as investors. With the tagline “property management that’s a cut above the rest,” home page testimonials, and a blue-toned web design of the sort favored by financial institutions to connote trustworthiness, the focus is on differentiation through delivery of high-quality property management services to deliver reliable rental income. Beyond its primary “free property management analysis” feature, other web functionalities include a blog, owner portal, tenant portal, and various program application options. Visit www.baymgmtgroup.com 4. Rentberry Rentberry is a global rental platform describing itself as a “transparent and secure home rental platform that connects tenants and landlords.” With the tagline “Renting done right – finally,” its principal focus is on prospective tenants and landlords. Top-level navigation includes online rent payments/rent collection. It also includes tenant screening functionality as well as options to search listings for vacancies or create a property listing. Among the usual resources (blog, help center, FAQ, contact information), Rentberry also features pricing guides for both tenants and landlords to help streamline the onboarding process. Visit www.rentberry.com 5. Grace Property Management & Real Estate Based in Denver (Colorado), Grace Property Management & Real Estate focuses on both residential and commercial properties in Denver. Although the company was founded in 1978, its online presence boasts astute use of online marketing tools and property management solutions, to say nothing of search engine optimization, with numerous calculators and other resources available from the top-level menu. Like many companies with a strictly regional presence, Grace Property follows the tendency of including full social media and phone contact information in the header. Visit www.rentgrace.com. 6. MESA Properties MESA Properties gives its geographical focus the hero image treatment, with the tagline “Servicing the Inland Empire, Eastern San Gabriel Valley and High Desert.” Below the header, it also bills itself as “an owner-centered property management company.” Accordingly, much of the functionality on offer from the top-level navigation is focused on professional property manager services and resources for owners, but it does include resources for tenants, including maintenance request options, and portal login. Visit https://www.mesaproperties.net/ 7. Golden State Property Management The Golden State Property Management website presents with the tagline “Total property management of the most comfortable homes in the South Bay,” as well as two prominent feature buttons aimed at residents (“Pay Rent”) and potential residents (“Search Vacancies”). With straightforward top-level menu options, mobile-friendly design, and high-contrast navigation elements, this site is exemplary in its simplicity. Visit www.goldenstatepropertymanagement.com 8. Sleep Sound Property Management Sleep Sound Property Management takes aim at the stress of managing the rental process, and as such takes on an advisory persona in its content. With the word “guarantee” appearing over 10 times on the homepage alone, the message is clear: this is a company devoted to providing great property management services in support of maximizing investment returns. Its “Why Choose Us” page also highlights its investments in cloud-based property management software, also designed to ease the stress of managing property investments. Visit www.propertymanagementportlandor.com 9. Good Life Property Management The website of this San Diego-based property management company is one of the only companies in the industry to highlight customizable user elements (color and font size) in the header of every page of its website. From the marketing perspective, this sends an important signal that the company is serious about finding ways to partner effectively with its community of investors and tenants. Visit www.goodlifemgmt.com 10. Luxury Property Care Luxury Property Care bills itself as “Florida’s only full-service property management and investment concierge for residential and commercial properties.” Its focus on offering high-end services is reflected in its mission statement: “Treat yourself to the luxury you deserve and let us handle every aspect of investing in off-market real estate and building a first-class rental empire with ease.” It’s also reflected in the website design scheme, with black and gold color elements being a popular way for brands to convey notions of elegance and prestige. Visit www.luxurypropertycare.com Follow the Second Nature Website to Keep Tabs on the Property Management Industry 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 Second Nature’s Resident Benefits Package, which is designed to generate revenue and establish Triple Win conditions for your residents, investors, and business.

Calendar icon February 26, 2024

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10 Best Property Management Blogs to Read and Learn From

As a property manager, one of the best ways to stay attuned to the latest trends, technologies, and strategies in the field is to read industry blogs across a range of property management websites. That's because the content of these blogs often consists of shared 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. 1. Second Nature The SecondNature blog provides insights on a wide range of topics related to property management, including market trends, technology, resident retention, and more. Its 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. In that vein, sample blog post titles include “How to Start a Resident-focused Property Management Company in 13 Steps,” “9 Ways to Improve Your Resident Experience,” and “How to Craft a Lease Renewal Letter that Wows Your Residents.” With top categories ranging from “Operational Efficiency” to “Resident Experience” and “Homeowner Insights,” the SecondNature blog is a valuable, highly readable resource for property owners and managers alike. Visit the SecondNature blog 2. Bay Management Group Blog The Bay Management Group manages over 6,000 units throughout Pennsylvania, Maryland, Northern Virginia and Washington, D.C. Its blog reflects this partially regional focus, with categories including “Owning a rental property in Maryland,” “Owning a rental property in Pennsylvania,” and the like. However, much of the content is broadly relevant to the 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?” This is a great blog that hosts archives going back to July 2012, making it one of the more venerable sites in this list. Visit the Bay Management Group Blog 3. Nest DC Blog Nest is a Washington management firm that focuses on homes and residents in and around Maryland, with expertise in single family homes, condos, multifamily housing, and mixed-use property in high-density, urban environments. Its clean, stripped-down design dispenses with the standard trappings of blogs such as tags and categories, and features both job listings and articles, with sample titles including “Important Factors for Real Estate Investing,” “Best Practices for Tenant Screening,” and “A Guide to the Eviction Process in Washington DC.” Visit the Nest DC Blog 4. 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. Sample blog post titles include “The ins and outs of HOA reserve fund accounting,” “The best rent payment app in 2024: Comparing 8 online rent payment systems,” and “The 5 best multifamily property management software solutions in 2024.” Visit the Buildium Blog 5. Appfolio Blog Another software company, Santa Barbara (California)-based AppFolio focuses on SaaS for the real estate market. You do not need to be a user of the Appfolio software to find its blog relevant – in fact, much of the content focuses on issues of broad interest to property management and property investment groups, with sample blog article titles including “Three Leasing KPIs Every Property Manager Should Track to Optimize Their Business,” “4 Ways to Strengthen Vendor Relationships,” and “Your Ultimate Guide to Leasing Season: How to Maximize Occupancy and Efficiency.” Visit the Appfolio Blog 6. BiggerPockets BiggerPockets is positioned as a complete resource for anyone looking to succeed in real estate investing. Thus, its blog is squarely focused on matters relating to property investment and rental income, with titles that reflect that focus (e.g., “12 Ways To Make Passive Income From Real Estate Investing,” “High Credit Borrowers Get Punished and New Landlord Laws Put Tenants First,” and “2024 Rental Market Outlook: Is a Shift Coming Next Year?”) However, it also provides a number of articles with potentially broader interest to property management services (e.g., “Put THIS in Your Lease Agreement (So Tenants Don’t Break It!)” “9 Ways Your Property Management Tool Can Improve Your Business,” and “The Rise and Fall of the American Shopping Mall”). Visit the BiggerPockets blog 7. Rentometer Blog Rentometer provides a number of offerings around its collection and analysis of approximately 10 million rental records annually. The Rentometer blog is an extension of this capability, and aims to provide marketing insights to help manage real estate businesses. Its blog publications date back to 2018, and provide perspectives on remote property management, tools for growing real estate businesses, and more. Sample titles include “6 Tips for Communicating Rent Increases,” and “How to Use Rent Comps When Setting Your Rent Price.” Visit the Rentometer Blog 8. Propertyware Blog Like Buildium, Propertyware is an acquisition of the RealPage corporation but it continues to maintain a blog featuring news, trends and tips on single-family rental properties. Sample titles include “10 Tips For Maintaining Electrical Safety At Your Rental Homes,” “What’s Hot: Tankless Water Heaters for Rental Housing,” and “How Rental Property Software Helps in Processing Security Deposits.” The blog has also compiled different article series under various themes and topics, making it easier to navigate the wealth of information on offer. Visit the Propertyware blog 9. Rent Manager Blog The Rent Manager blog is largely focused on news about this property management software developed by London Computer Systems (LCS), and features tips and best practices for users, as well as news on feature enhancements. However, the blog also includes a dedicated category for property management trends, with articles such as “The Benefits of AI for Residential Property Management,” “Why Lowering Renewal Rents is a Smart Move for Multifamily in 2024,” and “Resident Screening: The Lost Art of the Reference Check.” Visit the Rent Manager blog 10. All Property Management Blog The All Property Management Blog reflects its identity as a marketplace of property management services, with articles aimed at real estate investors as well as property managers. Blog categories include property management tips and advice, product reviews, and content related to property taxes and finances. Sample titles include “How to Rent Out an Apartment: The Go-To Guide for New Landlords,” “Top 10 Rental Listing Syndication Websites and Time-Saving Tips,” and “5 Successful Rental Property Management Strategies.” Visit the All Property Management Blog Follow the Second Nature Blog, Podcast, and Events to Keep Tabs on the Property Management Industry 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 February 21, 2024

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