Triple Win Property Management Blog

Four Qualities Every Property Management Leader Needs to Have

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

May 29, 2025

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How Many Properties Can One Person Manage?

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

May 13, 2025

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

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

May 8, 2025

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Why I Quit Property Management for Coaching

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

May 1, 2025

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Property Management Staff: Hiring by Business Growth Stage

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

April 29, 2025

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Learning to Empower your Property Management Employees

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

April 24, 2025

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Leading Means Truly Connecting with your Team

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

April 22, 2025

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Property Management Meeting Agenda Template: A How-To Guide

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

April 17, 2025

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Creating a Coaching Culture at your Property Management Company

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

April 8, 2025

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My Ideal Meeting Cadence for Property Management Companies

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

April 1, 2025

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Onboarding: Getting the Most from your New Property Management Staff

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

March 27, 2025

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Hiring in Property Management: How to Build a Thriving Team

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

March 25, 2025

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