Triple Win Property Management Blog

AI Property Management Software: Achieve Higher ROI with More Satisfied Residents

AI property management software is helping property managers save hours, cut costs, and keep residents longer. By automating time-consuming tasks like scheduling, rent reminders, and maintenance tracking, these tools give you more bandwidth to focus on what matters most: resident satisfaction and portfolio growth. But how do you know which AI property management software is right for your team? In this guide, we’ll look at the strongest AI property management software options available today, from established names like AppFolio and Buildium to innovative AI-first platforms. You’ll see how features like predictive maintenance, automated messaging, and smart rent workflows can transform day-to-day operations. Plus, you’ll see an overhead view of where each tool fits best depending on your portfolio type. What is AI property management software and how does it work? AI property management software uses artificial intelligence to automate and improve daily property management tasks. Instead of manually tracking rent payments, responding to maintenance requests, or juggling dozens of vendor schedules, these systems handle the busywork in the background. This lets you focus on strategy and resident relationships. At its core, the right AI property management software learns from your portfolio data to make smarter, faster decisions. That can mean: Predictive maintenance to flag potential issues before they become expensive repairs. Automated messaging that answers resident questions instantly and keeps communication consistent. Smart scheduling to coordinate vendors and team members without manual back-and-forth. Data-driven insights that help you adjust pricing, renewal strategies, and marketing spend. The result is a system that speeds up repetitive workflows and also supports better decision-making across your entire portfolio. These AI tools adapt to your processes and scale as you grow. They can be applied to the management of single-family homes, multifamily communities, or mixed portfolios. Why are property managers investing in AI property management software? The demands on property managers have never been higher. You’re expected to keep operating costs low, meet rising resident expectations, and manage growing portfolios. You’re also asked to do all of this without adding staff, which is not an easy job! AI property management software is helping bridge that gap. Three big shifts are driving adoption: Higher resident expectations: Residents now expect the same speed and convenience they get from popular apps. They want immediate answers, instant maintenance fixes, and easy self-service tools. Tighter margins: Maintenance costs, turnover expenses, and labor shortages are eating into profitability. AI helps control these costs by automating time-consuming tasks and spotting problems early. A shift from reactive to proactive management: Instead of scrambling to fix problems after they happen, AI tools predict issues and automate preventive measures. Overall, this will keep your properties in better condition and residents more satisfied. For many operators, AI property management software is becoming essential for scaling. Which AI property management software platforms should you test? The AI property management software you choose will come down to three categories: Your portfolio type Budget The workflows you’ll be streamlining Let’s take a brief look at each platform to help you match AI property management software to your portfolio type. AppFolio AppFolio blends property management features with AI capabilities like automated leasing workflows, rent collection, and smart maintenance scheduling. Its AI Leasing Assistant “Lisa” responds to inquiries 24/7, qualifies leads, and books showings automatically. The platform’s advanced analytics also provide real-time portfolio performance insights. Best for: Mid-size to large portfolios needing a comprehensive, all-in-one solution with deep integrations. Buildium Buildium is the AI property management software best known for its approachable interface and quick onboarding. This is ideal for teams without a dedicated tech department. Its AI features include automated rent reminders, dynamic pricing recommendations, and resident churn prediction. Buildium also integrates with popular maintenance platforms, making it easier to track vendor performance and resident satisfaction without switching systems. Best for: Small to mid-size property management companies that want straightforward AI tools alongside core PM features. Hemlane Hemlane focuses on remote-friendly property management. Its AI-driven leasing automation, maintenance coordination, and compliance tracking are designed for operators managing scattered-site properties. The smart task routing ensures requests are sent to the right vendors quickly, reducing delays and resident frustration. It also offers virtual showing capabilities, allowing you to lease units without being on-site. Best for: Single-family operators and geographically dispersed portfolios. AI-first tools These next platforms were built from the ground up with AI at their core. They often integrate with larger property management systems to add specialized capabilities without replacing your current tech stack. Stan.ai: AI-powered leasing assistant that handles inquiries, books showings, and nurtures leads automatically. It’s designed to boost leasing speed and conversion rates. EliseAI: Conversational AI for resident communication, maintenance requests, and leasing, with natural language capabilities that mimic human conversation. MagicDoor: Combines AI with resident engagement features like rewards programs, automated reminders, and event scheduling to increase satisfaction and retention. Trudi.ai: AI assistant for automating routine administrative tasks, from responding to emails to scheduling maintenance, freeing up staff time for higher-priority work. Next, we’ll take a look at which AI property management software fits with your portfolio type. How to choose the best AI property management software for your portfolio type Choosing the right AI property management software starts with considering your portfolio type. The chart below breaks down which tools work best for different portfolio types, so you can see at a glance where each option fits. Portfolio type Key needs and priorities Recommended platforms Standout AI features Single-family operators Remote management, vendor coordination, leasing automation, and maintenance tracking Hemlane, Trudi.ai, MagicDoor AI leasing assistant, smart maintenance routing, mobile-first workflows Small- to mid-size multifamily Centralized operations, predictive maintenance, resident self-service Buildium, AppFolio Predictive maintenance alerts, AI-driven rent reminders, unified dashboard Large-scale portfolios Scalability, deep integrations, high-volume automation, and advanced analytics AppFolio + Stan.ai or EliseAI Conversational AI for residents, bulk task automation, and rent optimization analytics Best AI property management software for single-family operators For single-family and scattered-site management, efficiency hinges on eliminating manual tasks that typically consume a significant portion of your day. You should be on the lookout for: Remote-friendly tools: These allow you to manage leasing, inspections, and maintenance without being on-site. AI leasing assistants: Respond to inquiries 24/7 and prequalify leads, cutting down on missed opportunities. Maintenance automation: Route requests directly to vendors and track completion in real time. Best fits: Hemlane, Trudi.ai, MagicDoor. These offer simple, affordable automation without the overhead of a full enterprise platform. Best AI property management software for small- to mid-size multifamily portfolios For portfolios in this range, the challenge is managing higher resident density while maintaining a personalized touch. Priorities include: Centralized dashboards: Combine accounting, leasing, maintenance, and communication in one system. Predictive maintenance features: Help to avoid costly emergencies and extend the life of building systems. Resident self-service portals: For rent payments, renewals, and service requests, which in turn reduces inbound calls and emails. Best fits: Buildium, AppFolio. Both offer integrated AI capabilities without requiring you to piece together multiple tools. Best AI property management software for large-scale portfolios When you’re managing hundreds or thousands of units, scalability and integration are key. You can keep your focus on: High-volume automation: For leasing, renewals, and maintenance coordination. Deep integrations: Manage the business end-to-end with accounting, CRM, and marketing tools. Advanced analytics: Spot trends, optimize rent pricing, and forecast maintenance budgets. Best fits: AppFolio for an all-in-one approach, or combining it with AI-first tools like Stan.ai or EliseAI for advanced resident engagement and lead management. Finding the right AI property management software is key. But what is the overall benefit to using them once you’ve found the right one? That’s what we’ll take a look at next. What are the key benefits of AI property management software? When you’re looking at the benefits AI property management software brings, you’re really calculating your return on investment (ROI). You want to see the measurable impact that new tools can have on your bottom line and resident retention. When implemented strategically, AI property management software can: 1. Save time on repetitive work AI can handle routine tasks instantly. This frees up your team to focus on owner relations, strategic marketing, or resident engagement. 2. Reduce maintenance costs Predictive maintenance tools analyze historical data and property conditions to flag potential issues early. Fixing a problem before it escalates can save hundreds, or sometimes thousands, per property each year. 3. Improve resident satisfaction and retention Fast response times, proactive communication, and self-service options create a smoother resident experience. The easier it is for residents to pay rent, request service, or get information, the more likely they are to renew. 4. Enhance decision-making with better data AI platforms consolidate your operational data into actionable insights. This can help you: Optimize rent prices based on market trends Identify at-risk residents before they give notice Adjust marketing spend to target the highest-converting channels 5. Scale without adding headcount Because AI handles high-volume, low-complexity work, you can grow your portfolio without increasing staff at the same rate. 6. Streamline communication AI-driven messaging keeps owners, residents, and vendors informed automatically. Your team stays on the same page with a unified system of communication. What are the common challenges when adopting AI property management software? AI property management software can transform operations, but adoption doesn’t come without hurdles. These are some of the challenges to be aware of, especially as you integrate AI property management software with your team: 1. Data accuracy and quality AI is only as good as the data you feed it. If your records are incomplete, outdated, or inconsistent across systems, automation may produce inaccurate insights or send the wrong messages to residents. 2. Integration gaps Not all AI platforms play nicely with your existing tools. Confirm that the software integrates with your accounting, CRM, marketing, and maintenance systems. 3. Balancing automation with human oversight While AI can handle routine communication, resident relationships often require empathy and context. Over-relying on automation can make interactions feel impersonal and lead to missed opportunities for connection. 4. Change management Your team will need training to use the new tools effectively. Prioritize clear onboarding and process updates. 5. Compliance and security concerns AI platforms process sensitive resident and owner information. Make sure your AI property management software meets data protection and privacy regulations in your region. 6. Overestimating capabilities AI property management software can be a powerful tool, but it’s not a magic wand. Setting realistic expectations about what it can and can’t do is important for measuring ROI and avoiding disappointment. How Second Nature complements AI property management software These AI property management software platforms have the potential to generate a higher ROI for your entire portfolio. But, there is a level of human touch that keeps residents satisfied and renewing. Second Nature’s fully managed Resident Benefits Package complements AI property management software to deliver tangible, high-value services residents can see and feel. These services go beyond AI processes to create a living experience that current and future residents are willing to pay for and stay for. Here’s how Second Nature’s Resident Benefits Package works: Proactive maintenance engagement: Built-in programs like air filter delivery encourage residents to take care of small maintenance tasks before they escalate. Changing air filters at the right time can reduce HVAC-related work orders by 37%. Resident rewards program: Incentivizes on-time rent payments and other positive behaviors with gift cards and rewards. Credit building: Automatically reports on-time rent to all three major credit bureaus, boosting residents’ financial health. Renters Insurance Compliance: Tracks coverage for every resident, automatically enrolling them if a policy lapses. Your AI property management software will help keep your operations efficient. Second Nature keeps the resident experience on pace. Together, they create a powerful combination: streamlined workflows, happier residents, and a healthier bottom line. As an example of how the Resident Benefits Package works, Hive Real Estate saw a 40% increase in on-time payments and a 50% reduction in maintenance requests. Elevate your AI property management software with Second Nature AI property management software can streamline your day-to-day. Pair it with Second Nature, and you’ll create a resident experience that drives renewals, reduces maintenance costs, and delivers higher ROI without adding to your workload. See how your current tools and Second Nature’s fully managed Resident Benefits Package can work together to keep residents paying and staying. Try out a demo today and discover how to make every property in your portfolio easier to manage and more profitable to own. FAQ What is AI property management software? AI property management software is a digital platform that uses artificial intelligence to automate and improve core property management tasks. It can handle rent collection, predictive maintenance scheduling, resident communication, vendor coordination, and portfolio analytics without manual intervention. These tools help landlords, property managers, and real estate investors reduce operating costs and improve resident satisfaction. How does AI property management software work? AI-powered property management systems use algorithms and machine learning models to analyze data from your portfolio. This enables features like smart rent reminders, automated maintenance requests, conversational AI for resident support, and dynamic pricing recommendations. The software can integrate with accounting systems, CRM platforms, and leasing tools to create a connected property management workflow. What are the benefits of AI property management software? The main benefits include time savings through automation of repetitive tasks like rent reminders and vendor scheduling, lower maintenance costs with predictive maintenance tools that flag issues early, improved resident retention via proactive communication and self-service portals, better decision-making using data-driven insights for pricing, renewals, and marketing, and scalability without adding headcount. Which AI property management software is best for my portfolio type? The best choice depends on your portfolio. Single-family operators may prefer Hemlane, MagicDoor, or Trudi.ai for remote-friendly management. Small- to mid-size multifamily operators may benefit from Buildium or AppFolio for predictive maintenance and resident self-service. Large-scale portfolios can pair AppFolio with Stan.ai or EliseAI for advanced analytics and resident engagement. Does AI property management software replace human managers? No. While AI can automate many administrative and operational tasks, it cannot replace the human element of property management—especially when it comes to empathy, negotiation, and relationship-building with residents. Instead, it frees up managers to focus on strategic growth and customer experience. How much does AI property management software cost? Pricing varies based on features, portfolio size, and whether you choose an all-in-one platform or an AI-first tool that integrates with existing systems. Entry-level solutions may start at $1–$2 per unit per month, while enterprise systems can cost more depending on customization and support. Can AI property management software integrate with my existing systems? Most modern AI property management platforms integrate with popular accounting software, CRM tools, maintenance tracking systems, and marketing platforms. Always confirm compatibility before purchasing to ensure seamless workflows. How does AI property management software improve resident satisfaction? By automating communication, providing 24/7 responses to inquiries, enabling faster maintenance resolution, and offering self-service portals, AI tools make the rental experience easier and more convenient—key factors in boosting lease renewals.

August 21, 2025

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Social Media Marketing for Property Management: A Comprehensive Guide

In the age of influencers, property management has been no exception. More and more property managers are building their personal and company brands across social channels, drawing more eyes and building trust with their customers. So how can you leverage social media marketing for property management, and drive real business results? In this article, we’ll walk through how property managers can position themselves on social media, and provide a comprehensive guide for property managers who want to grow their business through better social content. We’ll look at how to choose which platforms to use, setting up a content strategy, driving engagement, purchasing social ads, and building your brand as an individual and a company. What is social media marketing for property management? Social media has become an essential marketing channel for property managers over the last decade. More and more, residents and owners are searching for and engaging with their PMs on social channels like Facebook, LinkedIn, and X. Social media platforms allow property management companies to create branded pages where they can receive and send private messages, post public announcements to a wider audience, and solicit customer reviews. More and more residents are spending time on social media, regardless of age. In fact, nearly 64% of people globally use social media in 2025, compared to just 47% in 2020. That means that social channels are prime opportunities to increase visibility for your business, show your expertise in the industry, and convince both real estate investors and residents to work with you. A strong social media presence can set you apart from competitors, and also help you be found more frequently in web searches. Combine that with the ability to quickly communicate with existing customers and residents, and the benefits quickly become clear. Why social media matters for property managers Social media is the perfect forum to boost your brand reputation and create a unique voice. In such a people-first business, property managers should be embracing their personal voice and opinions to build a sense of authenticity and trust. In fact, more and more, weaving your personal story into your company brand helps users develop relatability and attachment to your band. Social media provides an invaluable opportunity to share personal anecdotes and thoughts, no matter how short or long, that show you’re an expert in your field. By engaging with others and having meaningful conversations online, you can also build your professional network and learn from those around you. Even providing simple tips or insights on other people’s posts can help build your expertise and get you noticed more often. You can also engage with both residents and investors in comments, direct messages, and community groups. By being easy to find and reach, you present an image of accessibility, responsiveness, and reliability, and show that you prioritize customer service. Choosing the best social media platforms for property management Selecting where to invest your time on social media can seem a bit overwhelming. There are plenty of options, but we’ll break down the strengths of each and where you should prioritize your efforts. Evaluate platform fit based on your audience Start by deciding who you're trying to reach on social media. Different demographics tend to use different platforms, and Pew Research (2024) reveals clear usage patterns by age and demographic: YouTube (83% of U.S. adults): Universally popular, this video sharing giant is ideal for property walkthroughs, FAQs, and educational videos. It’s a great fit for any age group, and is actually one of the largest search engines in the world. Facebook (68% of U.S. adults): Facebook is most used by adults aged 30–64. It’s perfect for reaching Gen X and baby boomers, and community groups and local events make it a great platform for reaching local renters. Instagram (47% of U.S. adults): Highly used by adults under 30 (78%), Instagram is for far more than just posting what you ate for brunch. Use Instagram for showcasing visuals, lifestyle branding, and behind-the-scenes content, and leverage stories for short video promos for vacant units. TikTok (33% of U.S. adults): TikTok is one of the hottest social tools around, and usage has grown 12% since 2021. It is especially popular among adults 18–29 (62%). It’s perfect for lifestyle content, renter tips, and fun property highlights. LinkedIn (30%+ of U.S. adults): LinkedIn skews toward college-educated professionals, particularly those aged 30–49, and is best for B2B networking, attracting investors, and vendor outreach. Residents tend to be less active in engaging with their property managers on LinkedIn. Pinterest (30% of U.S. adults): Female audiences tend to dominate Pinterest. This app is all about sharing visual ideas and inspiration, making it perfect for decor boards, seasonal refresh tips, or neighborhood features. Choose a platform that will help you meet your goals In addition to your audience, you have to know your target goals, because not every platform fits every objective. Here's how to align your strategy: Brand awareness & retention: Facebook, Instagram, YouTube Networking & lead generation: LinkedIn Lifestyle marketing & education: TikTok, Instagram Reels, YouTube Shorts Visual storytelling & design inspiration: Pinterest Consider your resources and bandwidth When you’re choosing your channels, remember that it’s about quality over quantity. Rather than establishing profiles on every single platform and trying to juggle them all, start with just two or three platforms and focus on getting them right. Then, once you’ve gotten the hang of things, you can consider adding more. If you’re posting often and across multiple platforms, consider using a scheduling tool like Buffer or Hootsuite to plan your content in advance. These kinds of tools can also allow you to post to multiple platforms with a single click, rather than having to create the same post over and over on different apps. If you use certain marketing automation tools, they may already have social media scheduling functionality built in. Remember that many channels have similar formats, so you can often repurpose the same content. For example, you can post a short video as a TikTok, a YouTube Short, and an Instagram Reel, reaching more people without substantially more effort. Content ideas for property management social media Remember, property management is a highly social, highly visual business, so there are tons of opportunities for great content if you get creative. You don’t have to limit yourself to just promoting listings, either. You can share tips and tricks, behind the scenes looks at your team, and elements of your company culture that will encourage people to work with you. Here are some ideas to get you started: High-quality photos and videos of listings Neighborhood highlights and community amenities “Meet the team” spotlights Seasonal maintenance tips Reviews and tagged posts from residents Tips on rental processes, maintenance reminders (like air filters), and lease renewals Behind-the-scenes, day-in-the-life reels, and resident events What it’s like to live at one of your properties Viral trends that you can tie to your niche The possibilities are endless, and don’t be afraid to take inspiration from other property managers who are killing it on social media. Social media content strategy for property managers With all these possibilities at your fingertips, it’s important to set an overarching strategy for your social efforts. You don’t want to be posting haphazardly or inconsistently, or sending mixed messages in your posts. Set clear goals for your efforts Make sure you know the purpose of your investment in social media. Start by defining what success looks like. You might be looking to increase brand awareness, generate more leads, retain residents longer, or something else entirely. Whatever your goal is, make sure that you identify KPIs that align to those goals, and measure your progress regularly. Build a content calendar Building a schedule of your content can help make sure you’re sharing consistently, but it can also save a lot of time. Work to batch your content creation and schedule weekly posts, which will minimize the time spent on social tools. Make sure you’re varying content types, too. For example, you might commit to posting one listing, one testimonial, and one local highlight per week. Stay consistent and on-brand You want to make sure that your visual branding is consistent across all your different social platforms, and that what users find there also matches what they’ll see on your website. Beyond that, you should establish a clear tone that you use across all your posts so that your audience is always experiencing a consistent version of you. Paid social media ads for property management Now that you have a strong understanding of organic posting on social media, it’s time to take a look at advertising, also known as sponsored content or paid social. Social media is a great opportunity to reach new audiences with ads, as long as you follow a few key guidelines. Why paid social matters in 2025 Millions of renters are scrolling their social feeds daily. That creates a massive opportunity to get your listings in front of them. Social platforms also offer a uniquely effective way to target users by location, income bracket, and life stage, allowing you to better find potential applicants who are a strong fit for your properties. Especially in competitive markets, social ads can keep your brand and your properties top of mind through each and every decision stage. Create scroll‑stopping ads Creating effective ads might seem challenging, but it’s all about the visuals. Use high‑quality photos, 15‑second videos—framed vertically, to match users’ devices—or 360° tours. If you’re posting videos, make sure they have text overlays for users who are scrolling without sound on. Captions and copy should be brief and benefit-focused. Optimize targeting and budgets Social platforms also allow you to create look-alike audiences using your past resident, applicant, or owner lists. That means you can target your ads specifically to the people who best fit your customer profile. You can also retarget your website visitors, especially those who may have started filling out an inquiry form but then abandoned it. When you’re just getting started, try a balance of about 70% prospecting ads and 30% retargeting ads, and then evaluate every thirty days to rebalance your ad mix. Measure and refine performance Make sure that you’re tracking key metrics like click-through rates of your ads, cost per lead from social media, and numbers of tours and leases that come from your social channels. You can also create A/B tests for different ad creative and update it weekly. Some platforms even let you automatically pause low-performing ads and boost those that win A/B tests. Don’t forget to use UTM tags and tracked links so that you can specifically tie new business to your social media efforts. Tracking social media performance for property managers As you build your social media strategy, make sure you’re consistently measuring performance. Consider key metrics like reach, engagement rate, follower growth, and click-through rates, all of which are good measures of how much your content is resonating with your audience. Most social tools typically have basic metrics built in, but platforms like Sprout Social, Agency Analytics, and Hootsuite offer a wider range of measurement tools, including dashboards and downloadable reports. If you’re doing extensive social posting and need to consistently monitor performance, it may be worthwhile to invest in one of these tools. As you push to improve your performance, make sure you’re testing images against video, different headlines and captions, and posting times throughout the day or week to see what works best for your audience. Then, apply those learnings moving forward for each campaign. Overcoming common social media challenges Many companies struggle to gain traction on social media, or expect instant success and are disappointed when they don’t see it. Here are some of the most common challenges with social media marketing, and how you can avoid them with your property management business: Inconsistent posting schedule: Posting inconsistently can lead to a disengaged audience, but it also hurts you in social media algorithms, which favor creators who post consistently. This is where your content calendar and scheduling tools can come in. Declining organic reach: Some companies see their post impressions decline over time, often because they’re only posting but not interacting. Make sure you’re interacting with your audience’s posts, either with likes and reactions or with comments, which will help algorithms rank your content more highly. Make sure you’re also posting content that encourages your audience to interact, rather than just looking or reading and scrolling on. Content saturation and competition: Some posters also find themselves running out of content ideas quickly. Remember that it’s about quality over quantity, and that you don’t always have to be posting as often as your competition. Focus on the consistency of your content, both in when you post and the quality of what you’re sharing. Negative feedback and reviews: Plenty of companies get dismayed by negative reviews or feedback on their pages. Make sure that you’re handling negative feedback calmly, quickly, and professionally, and that you’re actually making process changes to prevent similar reviews in the future. Lack of clarity: If you’re a property manager who isn’t as data-driven, this can be a challenge. Make sure you’re leveraging analytics to measure success and jumping on hot trends that you see across other pages. Like any other marketing channel, KPIs should be guiding your strategy. Build long-term value with Second Nature Remember, social media is a great way to show your personality, expertise, and what you’re doing to deliver the best possible experience for your residents. From lead generation to community engagement, social media is all about building trust in your brand, both as an individual and as a property management company. Things like reminders to change air filters, instructions on how to leverage benefits, and success stories of residents who have seen boosts to their credit scores are all content gold, made possible by programs like Second Nature’s Resident Benefits Package. If you want to learn more about how Second Nature delivers top-tier resident experiences, schedule a demo with an RBP expert in your area today.

August 12, 2025

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20 Ways to Get More Property Management Leads

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

August 6, 2025

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What to Know About Reusable Tenant Screening Reports

Choosing the right resident is one of the most important things you do as a property manager. Not only can it prevent future headaches, but it can impact length of stay, maintenance alerts, and more. At Second Nature, we’re all about making the resident experience as enjoyable as possible, which is why we recommend reusable tenant screening reports. Not only do consistent screening reports help you process applications more quickly, they also help residents save money and apply more quickly. The result is that you get more quality applications sooner, filling vacancies and reducing turn costs. In this article, we’ll walk through what reusable screening reports are, why they’re good for both residents and property managers, and how you can add them to your workflow to increase compliance and efficiency. What is a reusable tenant screening report? A reusable tenant screening report is a comprehensive screening report that applicants can submit to multiple landlords, eliminating the need for them to repeatedly go through the screening process every time they want to apply for a property. These reports are also sometimes called portable tenant screening reports (PTSRs) because applicants can carry them with them from one property to the next. These reports are created by consumer reporting agencies and are paid for by the applicant directly. They typically include information like a credit report, any eviction history, a criminal background check, and income verification. Once a resident obtains a PTSR, they’re typically valid for 30 days and can be submitted to property managers either directly or via a third-party platform. The best part is, there’s no expense to the property manager or property owner. Why they exist and where they’re gaining traction In today’s real estate landscape, especially in more competitive markets where rentals are in high demand, applicants are typically applying to multiple properties. The process is time-consuming and often expensive, leading applicants to seek out other options. Reusable reports reduce screening costs and time for residents, which can typically range from $15 to $40 per application. That adds up quickly, so it’s easy to see why reusable screening reports are rising in popularity. Components of a tenant screening report Depending on the consumer agency an applicant uses, the exact contents of the report can vary slightly. However, there are some main items that are consistent across almost all screening reports. What to expect in a typical resident screening report Credit report: The applicant’s credit report includes their credit score, any outstanding debts, bankruptcies, and payment history, which a property manager can use to assess financial responsibility. Many PMs look for scores above 650, but this can vary based on market and company policy. Rental history: This section lists all previous addresses, lease dates, reasons for leaving, and management references. This section often includes any eviction records or red flags reported by previous property managers. Criminal background check: Depending on local laws and the screening provider, this may include felony convictions, pending cases, or sex offender registry status. Always refer to your state and local laws to determine what will and won’t be included in a criminal background check. Income verification: This section confirms whether the resident earns enough to cover rent, using pay stubs, employment history, tax returns, or bank statements. Employment details: This portion of the report is intended to verify the applicant’s employment status, including their job title, length of employment, and employer contact information for direct verification. References: Personal and professional references help validate the applicant’s character and responsibility outside of documentation. Other relevant factors: Depending on the specific report, it may include details like pet ownership, smoking history, and other property-specific requirements. Why these components matter Each of these sections is important in helping you find the absolute best resident for your property. They provide a fuller picture of financial stability, reliability, and potential risk, empowering you to make more informed decisions and reduce future costs. Having a highly detailed process also leads to more consistent standards, allowing you to evaluate applicants fairly and maintain compliance with Fair Housing laws. How to avoid tenant screening fraud Some property managers may be hesitant to accept reusable screening reports due to concerns about fraud. They feel confident in their established screening process and don’t want to stray from it. While we’re all about consistent process, there are also plenty of ways to reduce the chance of fraud in portable screening reports. Use additional verification to protect your time and your portfolio Portable tenant screening reports can be helpful, but they’re not foolproof. In order to reduce risk, property managers should review every screening report carefully and look for red flags. Things like inconsistent dates, gaps in rental or employment history, or mismatched addresses can signal possible fraud. Best practices for spotting and avoiding fraud Manually review reports: Be sure to look carefully at employment history, rental timelines, and formatting for inconsistencies. Independently verify key data: Confirm income, employer details, and references directly where possible. Contact previous property managers: Reach out to previous property managers and ask about payment reliability, lease violations, and unit condition at move-out. Layer in other tools: In-person interviews or document requests can reveal red flags not shown on a PTSR. Don’t be afraid to ask for additional documentation if you feel that an applicant’s report isn’t trustworthy or comprehensive. Stay up to date: Tenant screening laws and tools are evolving. Attend webinars or join industry groups to keep your process compliant and effective. What states allow reusable tenant screening reports? Legislation around portable screening reports varies by state, but is continuously expanding. Several states now allow residents to submit reusable reports instead of paying new application fees for each property. Some states allow property managers to accept them, while others require acceptance and don’t allow PMs to charge additional screening fees. These laws aim to lower housing costs, reduce the financial burden of applying, leasing, and moving into a new home, and increase resident mobility. The lifespan of a reusable report may also differ by jurisdiction. Most states that accept these reports define the time limit for validity. Most commonly, reports are valid for 30, 60, or 90 days, but this varies by jurisdiction. As always, we recommend researching laws surrounding screening reports in your state, county, or city, and consulting an attorney if you’re not clear on the specific regulations. Compliance varies by state In most states, property managers must disclose their screening process upfront, including whether or not they accept PTSRs. Some states require written notice in listings, applications, or websites, and might specify the exact language that needs to be present. Another variation by state: in some areas, property managers may be allowed to request a certification that no material changes have occurred since the report was created. For example, they can request verification that the resident hasn’t been evicted, been charged with a crime, or filed for bankruptcy in the last 30, 60, or 90 days. Failure to comply with these rules can result in financial penalties and legal liability, so it’s always worth it to seek legal assistance from an attorney if you aren’t 100% confident in your compliance. Reusable reports don’t replace a fully managed screening system Keep in mind that reusable screening reports are just one tool in your belt. They shouldn’t be the only way that you’re evaluating applicants or making leasing decisions. You still need visibility, protection, and consistency Portable reports offer a lot of convenience, but that comes with tradeoffs. Reports pulled days or weeks earlier may miss new credit or legal issues, so it’s important to request updated documentation for older reports. Because portable reports are based on resident-supplied data, they may lack verification or completeness, especially for income and employment history. Some reports may not be as comprehensive in some areas, like rental history, or might only provide surface-level employment info. Without built-in verification tools, property managers may be left tracking down references manually, adding costly time to their process. Disconnected tools create more work and more risk Portable reports also don’t integrate as well with your lease, payment, or maintenance systems, meaning that you may have to copy or retype information between different platforms. That increases the potential for errors and creates large inefficiencies. It also makes it difficult to track patterns between screening data and later resident behavior, which can make it more challenging to update and improve your screening process. A fully managed system keeps everything connected If you’re looking to up your screening game without creating chaos in your tech stack, look for tools that are fully integrated. You’ll create less back-and-forth, more reliable data, and stronger resident outcomes. Look for solutions that include verified screening, but also consider additional features that will attract high-quality applicants, like credit building and identity protection services. Simplify leasing, but don’t sacrifice oversight In order to help you be successful in today’s market, modern property management tools must support both compliance and the resident experience. Building smarter workflows is great, but they should ultimately drive better outcomes for both your team and your residents. Portable screening reports should always be considered in this context. They’re great for reducing friction and resident expenses during the leasing process, but they don’t always provide the full picture. Leading property managers pair these reusable reports with a fully managed system to deliver consistency, efficiency, and long-term resident satisfaction. Ready to create your Triple Win? If you’re looking to drive resident satisfaction and attract more qualified applicants, look to Second Nature’s Resident Benefits Package. With a full suite of benefits designed to create triple win outcomes for you, your investors, and your residents, the RBP is the perfect tool to elevate your property management company. Request a demo with an expert in your area today.

July 31, 2025

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Notice of Non-Renewal of Lease: A Guide for Landlords and Property Managers

Real estate investors and property managers often need to issue a notice of non-renewal of lease when deciding not to extend a rental agreement. When the choice is not to extend a lease, issuing a precise and legally compliant notice is essential. This formal communication allows residents to know that their lease will end on a specified date, helping prevent misunderstandings and disputes. Proper timing and content of a non-renewal notice play a key role in complying with state laws, maintaining positive resident relations, and preparing for a smooth transition between occupants. In this guide, we’ll explain when and how to issue a notice of non-renewal, what details it should contain, common mistakes to avoid, and how it fits into broader property management goals. What is a notice of non-renewal of lease? A notice of non-renewal of lease is a written document sent by the landlord or property manager to the resident informing them that their current lease agreement will not be extended beyond the expiration date. Unlike a notice to vacate or eviction notice, which often requires residents to leave immediately or due to breach of lease, a non-renewal notice simply communicates that the lease will end on a scheduled date. This notice serves as a formal heads-up to residents, giving them time to plan their move and find new housing. It also protects investors by clearly documenting the decision not to renew, reducing the risk of misunderstandings or legal conflicts. When and why to issue a notice of non-renewal Investors and property managers may decide not to renew a lease for a variety of reasons. Some of the most common situations include: The owner plans to sell the property or undertake major renovations that require the unit to be vacant. The resident has repeatedly violated lease terms, possibly via non-payment, property damage, or nuisance complaints. Market conditions have changed, allowing the investor to raise rent significantly by bringing in a new resident under a fresh lease. The owner intends to change the use of the property, such as converting it to a different type of rental or repurposing the space. The resident has indicated they do not wish to renew, and the investor or property manager is formally confirming this decision in writing. Issuing the notice well in advance of the lease expiration date is an important part of the process. Providing residents sufficient time to make alternative housing arrangements helps maintain good relations and reduces last-minute complications. Legal requirements and notice periods Many lease agreements include a specific notice period that property managers must respect. Even when not specified, state or local laws often require a minimum notification time frame. Notice periods for lease non-renewal vary depending on state and sometimes even city regulations. Typically, landlords are required to provide residents with notice between 30 and 90 days before the lease expires. Failing to provide proper notice can lead to legal complications, including challenges from residents or delays in regaining possession of the rental unit. Carefully review both the local landlord-tenant laws and the terms outlined in the lease agreement to understand your obligations. To avoid legal risks, we always recommend consulting with legal counsel or local housing authorities. They can provide guidance specific to your jurisdiction and help confirm that your notice of non-renewal fully complies with all applicable rules. What to include in a notice of non-renewal To establish clarity and professionalism, your notice of non-renewal should include the following elements: Resident’s full name and current address: This ensures the notice is specifically directed to the correct resident. Property address, if different from the resident’s mailing address: Including the rental unit’s address avoids any confusion, especially if the resident has multiple residences. A statement that the lease will not be renewed past its current expiration date: The statement must explicitly inform the resident that the lease agreement will end on the specified date. The exact date when the lease ends and the resident is expected to vacate the property: Providing a precise move-out deadline helps set direct expectations. Any instructions regarding the move-out process: These may include details about returning keys, scheduling a final inspection or move-out walk-through, and cleaning requirements. Information about the security deposit return: Outline how and when the resident can expect their deposit back, including any deductions or inspection timelines. Contact information for questions or further communication: Providing a phone number or email helps residents reach out if they need assistance or clarification. Including all these details helps avoid misunderstandings and makes the transition more efficient for both property managers and residents. Open and straightforward communication upfront reduces potential issues and supports a professional relationship. How do I write a notice of non-renewal of lease? Crafting a legally enforceable notice of non-renewal of lease involves more than a template. Again, you should always consult with a local attorney to ensure you’re meeting the requirements set in your jurisdiction, but here’s what your notice should typically include to avoid disputes, and streamline the resident offboarding process: Legal identification of the resident and property List the resident’s full legal name and the exact rental address. If the mailing address differs from the property, include both. Unambiguous non-renewal language State explicitly that the lease will not be renewed beyond the current expiration date. Avoid vague phrasing like “we may not renew”— clarity is critical. Precise lease termination date Specify the date the resident is expected to vacate. This should match the lease end date and fall outside the required notice window (typically 30–90 days in most jurisdictions). Move-out protocols and resident responsibilities Provide expectations around final inspections, key return, cleaning standards, and any outstanding obligations. Security deposit procedures Reference the deposit return timeline, inspection process, and criteria for potential deductions—aligned with state law. Contact for questions or clarifications List a dedicated phone number or email to reduce ambiguity and prevent back-and-forth. Compliance with jurisdictional notice periods Verify and follow your state’s mandatory notice timeframe. Legally valid delivery method with proof Use certified mail, personal service with signed acknowledgment, or another delivery method recognized under your local landlord-tenant code. Document everything Keep a dated copy of the notice, proof of delivery, and any follow-up communications. In the event of a legal challenge, documentation is your best defense. A well-written non-renewal notice protects against lease disputes, ensures timely turnover, and keeps your property’s rent-ready schedule on track. Best practices for delivery and documentation The method you use to deliver a notice of non-renewal can affect its legal validity. Consider these common delivery options: Certified mail with a return receipt requested, which provides proof that the resident received the notice. Personal hand delivery with a signed acknowledgment to confirm the resident physically received the notice. Email delivery, if permitted by the lease and state law, though this method is generally less secure and may not be legally sufficient in all areas. No matter which method you choose, keeping detailed records can be helpful if any disputes arrive. These records should include: Date and method of delivery Copies of the notice sent Any follow-up communications with the resident Maintaining professionalism helps preserve positive resident relations, even when delivering difficult news. For example, consider also writing a move-out letter to confirm key dates and information while thanking the resident for their time at your property. Common mistakes to avoid Issuing a notice of non-renewal requires attention to detail to avoid legal complications or resident misunderstandings. Here are some frequent errors landlords and property managers should avoid: Missing or misunderstanding the required notice period: Failing to give residents the full legally mandated or contractually agreed-upon time can lead to delays in regaining possession. Always double-check state laws and your lease terms. Using vague or confusing language: The notice should directly state that the lease will not be renewed, specify the lease end date, and outline what the resident needs to do next. Ambiguity can cause unnecessary confusion and tension. Failing to document delivery and receipt: Without proof that the resident received the notice, enforcing the non-renewal may become challenging. Make sure to keep records of how and when you sent the notice and any resident acknowledgments. Not providing contact information for resident questions: Including a phone number or email allows residents to seek clarification, which can prevent misunderstandings and build goodwill. Ignoring reasonable resident requests: Sometimes residents may ask for clarification or a brief extension. While you are not required to agree, responding promptly and fairly can help maintain a professional relationship and avoid escalation. Avoiding these pitfalls creates a better transition at lease end and reduces the risk of costly issues or unintended vacancies. Proper documentation protects both landlords and residents. Simplify resident communications with Second Nature Properly issuing a notice of non-renewal of lease is an important part of successful property management. It helps maintain legal compliance, reduces misunderstandings, and prepares both landlords and residents for a trouble-free transition. If you want to simplify lease communications and streamline resident touchpoints, consider how Second Nature’s platform can help. Our Resident Benefits Package is designed to simplify these tasks and enhance the resident experience with tools designed to improve communication and make lease management easier for property teams. Request a free demo today to discover how Second Nature can streamline your lease management and support your property operations. FAQ Can a landlord choose not to renew a lease? Yes. An investor or property manager can choose not to renew a lease, as long as they comply with the notice period and local landlord-tenant laws. This decision must be communicated in writing through a formal notice of non-renewal of lease and delivered before the lease expires. Is a notice of non-renewal of lease the same as an eviction notice? No. A notice of non-renewal of lease simply informs the resident that their lease will end on a specific date. It does not accuse the resident of wrongdoing or require immediate removal like an eviction notice does. How much notice does a landlord have to give if they’re not renewing a lease? Notice periods vary by state, but most require between 30 and 90 days before the lease end date. Check both your lease agreement and local laws to determine the exact timeframe for delivering a lease non-renewal notice. Does a notice of non-renewal have to be in writing? Yes. A written notice of non-renewal of lease is required in nearly all jurisdictions. It protects both parties and serves as legal documentation in case of disputes. What happens if a landlord doesn’t send a notice of non-renewal? If no notice is given, the lease may automatically convert to a month-to-month tenancy, or the property owner may lose the right to terminate the lease on the intended date. This could delay turnover and complicate plans to raise rent, sell, or renovate.

July 29, 2025

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How to Do a Property Management Market Analysis (And Why It Matters)

Whether you’re just starting to grow your property management business or you’re well established as a leader in your market, it’s important to understand where you measure up in comparison to other PMCs in your area. Knowing the competition will help you better understand where you need to improve, what your differentiators are, and how you can win more business and delight more residents. That’s where a property management market analysis comes in. In this post, we’ll cover what a market analysis is, why it’s so important for property management leaders, and how to conduct an analysis of your local market. What is a property management market analysis? A market analysis is a comprehensive look at the many factors that play into your property management strategy and how they compare to the other companies in your market. A market analysis is materially different from a rental comp analysis or a general real estate market forecast. Unlike a real estate forecast, this analysis is specific to the day-to-day operations of your business and how you approach property management. Rather than focusing primarily on pricing, you’re also looking at service offerings, marketing, branding, and more. Your market analysis will definitely help you evaluate rental rates, but it will also help you make better decisions about your complete service package, spot risk, and differentiate your business. Why market analysis matters for property managers A well-conducted market analysis is invaluable to your business. At the end of the day, it helps you avoid guesswork and make data-backed decisions. Let’s look at some of the biggest benefits of a detailed analysis: Support planning and feasibility decisions The market data gained from your analysis will help you evaluate future business opportunities, like expansion into a new location, new service offerings, or even the prospect of acquiring other businesses nearby. It also helps you better plan for investments in property upgrades, staffing, or tech, and reduce the risk associated with those expenses. Understand what renters and owners want Your research will also help uncover local expectations among renters around amenities, service responsiveness, and pricing. There are plenty of research firms looking at these trends nationwide, but because every market is different, it’s important to also look at your local area. You should be analyzing demographic information like age, income, and household size to better tailor your offerings. A married couple with two kids is going to have very different needs and expectations than a group of college students, for example. Identify hot or emerging markets Part of your analysis should also include looking for areas of change. Population growth, job creation, and new housing developments will often indicate areas with changing demand. That will allow you to enter underserved areas before they become saturated by your competitors. It’s a great way to gain a strategic advantage when you’re either expanding your company or shifting focus. Strengthen your position as a trusted advisor Market insights also help you give your investors clear, data-backed recommendations. You’ll be better equipped to answer tough questions about pricing, upgrades, and property positioning using the information you’ve gathered through your market research. Plus, if you’re working to attract investors who are currently self-managing, your analysis can help prove out the value of hiring a good property manager—and why your competitors fall short. Navigate changing conditions with confidence Real estate markets are always in motion, so your strategy should be, too. Ongoing research and analysis can help you pivot when market dynamics shift, especially when you see changes in demand and vacancy rates. What to include in a property management market analysis A useful market analysis goes beyond just looking at rent prices. If you want to gain true insight into your market, here are some additional pieces of information you need to be digging into: Demographic data Things like age and income, along with a breakdown of what percent of people rent vs. own in your target neighborhoods will help you better evaluate the opportunities in front of you. You can use publicly available tools like the U.S. Census and data from your local chamber of commerce to understand many of these dynamics. Rental market trends You should always be evaluating median rent prices and vacancy rates in your area, but you should also be looking at increases in rent over time, as well as the overall growth in number of renters locally. These factors all contribute to whether it’s a renter-friendly or owner-friendly market, which will help you determine rent prices, marketing investments, and more. Property types and volume Make sure to look at what types of properties dominate your market. Is it primarily single family homes, small multifamily, or apartment complexes? Maybe it’s a mix of all three. What’s the average square footage of available rental properties? How many bedrooms and bathrooms do they have? Competitor landscape One of the most important parts of your analysis will be examining your competitor landscape. How do you stack up compared to other property managers in your area? Start by researching who those other companies are, as well as what they include in their service packages, especially if they have multiple tiers or optional add-on services. See what you can find on their pricing, as well as their core value proposition and pitch messaging. Service demand gaps Part of the competitor analysis is also to determine whether there are gaps that no one in your market is currently serving. For example, there may be demand for high-end properties, more pet-friendly units, or even short-term rentals that’s currently going unmet. Property-level details Make sure that you have a comprehensive understanding of the amenities and services available around your properties. You should understand local transportation options, walkability, school quality, and more, which all impact resident satisfaction and shape how your properties stack up against others. How to do a local property management market analysis When you approach a market analysis, you have to analyze the data you uncover through the lens of your business goals. Determine what it is that you’re trying to achieve, and then make sure you’re getting the information you need to inform that goal. Here are some steps to building an effective market analysis: Choose your geographic area Of course, you want to start with your existing coverage area, but you should also analyze areas that you’re looking to grow into. Start with neighborhoods you currently serve, but make sure to research expansion opportunities thoroughly in order to inform your growth strategy. Choose your approach: demand-based vs. supply-based A demand-based analysis focuses on resident expectations, like amenities, pricing, and location. You’re basically looking at what the customers in your market demand. A supply-based analysis consists of looking at other properties or management companies in your area and how they’re positioned. You’re looking at what’s currently being supplied in your area. Running both types of analysis can be extremely valuable because it shows you very clearly where the current players in the market are failing to meet expectations, and what gaps you might want to fill with your company. It provides a clearer picture of where your offering stands in comparison, and where you should focus on improving. Pull demographic and economic data When it’s time to start compiling data, it’s helpful to start with data that’s already publicly available. For example, Census Reporter contains a wealth of demographic data, and tools like Rentometer offer great local rent data. Depending on your market, there are likely other local financial reports available, either from your city or county government, local nonprofits, or even for-profit research firms. Analyze your competition Competitor data can take a bit more digging. Start by looking at their company websites, but also search for their listings on popular listing services like Zillow. Make note of their branding and language, what services they offer, and what fees they’re charging. You should also record what kind of marketing you see from them, especially whether they’re purchasing Google Ads, social media sponsored posts, or even ads in the local paper. Survey or interview owners (if possible) You should also be leveraging your own network of owners to gain additional insights. Consider sending short surveys to your investor clients to learn what they want most from a property manager. If you record your investor calls with a tool like Gong, you can also search transcripts or recordings of previous calls to gain insights into what they’re looking for. Assess the regulatory environment Local laws and regulations directly affect your ability to operate and grow. That makes this a critical step for every market analysis, especially if you’re looking to expand. Broadening your service area to a new city or county often comes with a whole new set of regulations, so make sure you fully understand what you’re signing up for before jumping in. Use online reviews and listing platforms Online review sites and listing platforms can provide plenty of insight, not just into how your competitors are performing, but also what renters in your area are looking for. Look at the most common complaints or points of praise and make sure that your business is excelling in those areas. Google, Yelp, and Facebook may seem like the most obvious places to look, but don’t forget about forum sites like Reddit. Sites like Apartments.com, Redfin, and Zillow also reveal how properties are being marketed, what features are being emphasized, and what prices other property managers are asking. How to do a rent comparison A rent comparison helps you understand what local renters are paying and what they expect for that price. Many businesses run comps every 30-90 days in order to make sure their properties are priced competitively but fairly. Gather average rent data for comparable properties in your area Start by determining how wide you want your analysis to be. You’ll typically want to focus on properties that are similar in size, condition, and amenities in order to get the most accurate picture. Check listings across the major trusted listing sites, but also check local classifieds. Look beyond base rent Rent isn’t the only expense that residents pay each month, so it shouldn’t be the only piece of your price analysis. Make sure that you’re digging into factors like utilities (and whether or not they’re included), parking, pet fees (one-time or monthly), and amenity access when comparing rent prices. Look for other lease-enrolled services like Resident Benefits Packages, too. These added costs can influence how residents perceive overall affordability and what they’re willing to pay for base rent. Consider seasonal variations It’s important to run rental comps frequently because of seasonal fluctuation. Depending on your market, you may see larger or smaller seasonality. For example, if you’re in an area with a lot of students, demand is going to be higher in August and September than in April or May. Other factors are more consistent across geographies, like a decrease in demand around the December holidays. Make sure that you’re adjusting your pricing to match peak vs. off-season demand. Account for property improvements Make sure that you’re considering the property’s current condition when evaluating pricing. If you’ve renovated or upgraded things like appliances, flooring, or amenities, make sure you’re factoring that in. Even small things like higher quality finishes can justify premium rent prices and attract more qualified residents who are willing to pay a bit more. Stay flexible and responsive Remember, the market changes constantly, and so should your pricing. Revisit comps regularly and be open to adjustments, even if it means decreasing prices. Demand, competition, and resident feedback are just a few of the factors you should be keeping tabs on. Use rent comparison tools wisely Tools like Rentometer can offer valuable insights into prices, but remember that they’re only one piece of the puzzle. Be sure to pair them with real-time feedback from showings and applications to fine-tune your pricing strategy. Turn insights into action: What to do with your analysis Raw information is all well and good, but you need to be deliberate about how you turn it into an actionable business strategy. Adjust your pricing and services Compare your rental rates to local averages, factoring in amenities, property condition, and service quality. Make sure that you’re using rent comparison data to identify opportunities to raise rates responsibly. When you list your properties, make sure to highlight premium offerings like Resident Benefit Packages or renters insurance, which can improve resident satisfaction and justify higher rent. Remember, the goal is to remain competitive but fair, and make sure you’re doing your fiduciary duty to your clients. Improve your marketing messaging The insights you gather should all inform how you present your company to the market. Tailor listings, website copy, and outreach to reflect what local renters care about most, and emphasize features your analysis shows are in high demand—like location, pet policies, or energy efficiency. When pitching yourself to prospective clients, position your services clearly against the competition. Don’t be afraid to brag a bit if you have stronger owner reporting or better resident perks. Explore underserved niches Demographic and demand data can help you spot market gaps between what residents want and what you and your competitors are delivering today. Look for emerging neighborhoods or underrepresented segments, especially those with a growing population of renters, to capture growth before your competitors. Benchmark against similar companies Be sure to look at yourself in comparison to other PMCs serving the same areas that you are. Compare occupancy rates, pricing, and resident retention rates to see where you stack up and how you can improve. This can also help inform your service offerings, staffing priorities, and pricing. Create better owner reports that drive decisions All of this data is music to your investors’ ears. Tailor your owner reports to the needs of your different investor personas, like growth-focused investors, passive landlords, or institutional clients. Be sure to focus on the metrics that matter most, like vacancy rates, rent collection, maintenance turnaround times, and retention rates. How Resident Benefit Packages give you a competitive edge Once you have a more comprehensive understanding of your market, you can start to use value-added offerings like air filter delivery, credit reporting, and pest services to stand out. These can help improve resident satisfaction and retention while also decreasing the workload on your team. For example, according to AppFolio’s 2025 Renter Preferences Report, 71% of surveyed renters said that lease-attached resident services would be important to them when evaluating a new rental home, but only 42% reported having those services available to them. That’s a big opportunity to fill the gap and set your company apart. If you want to see how a Resident Benefits Package can help you support next-level service, schedule a call with a local expert today.

July 24, 2025

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How to Grow a Property Management Company: 8 Tips for Success

Scaling a property management business is not easy. Especially in highly competitive markets, real estate investors are trying to shop on price, services, and convenience. Meanwhile, you’re trying to make sure you’re selecting the right clients and maintaining a high enough profit margin to sustain your business. That leaves a lot of PMs unsure of exactly how to grow a property management company in a healthy way with a long-term vision. Many property managers think of growth purely in terms of their go-to-market strategy and acquiring more doors, but in reality, sustainable growth is heavily dependent on internal efforts. You need to be hiring the right staff, ensuring the best resident experience, and building out razor-sharp processes to support it all. In this article, we’ll walk you through eight key tips for growing your property management company in a way that sets you up for long-term success. 8 Ways to grow a property management company Growth isn’t just a single aspect of your business; it’s a culmination of all your different efforts. It requires you to market yourself well and find the right clients, but it also incorporates your staff and hiring standards, your company’s reputation, and your mindset as a leader. 1. Be selective Especially in the early stages of expansion, it can be tempting to take a grow-at-all-costs approach. You want to say yes to every single potential client and add as many doors as possible to your portfolio. The problem with that is the long-term impact; when you have clients who don’t fit your company or your system, they end up draining resources from your team. They take more energy and investment to maintain than is sustainable for a growing business. Instead, try to be selective about the investors you’re bringing onboard. Start to get specific about the types of owners you want to work with. For example, do you want to work with dedicated investors or accidental landlords? Single-family properties or multi-family buildings? What about owners who also have commercial or multi-use properties? Once you’ve got the basic parameters in place, aim to document the standards that investors must meet in order to work with you. Do they have sufficient cash reserves? Do they have the mindset of a buy-and-hold investor? Are they aligned with your vision for how you’ll manage their property? When you have a portfolio full of properties and owners that work within your system, you’ll be able to focus less energy on catering to them and spend more time growing your business. 2. Think like an owner Another key step in building a strong business is thinking like an owner. As you build out your service package, make sure you’re really putting yourselves in the shoes of the owner. What services are going to provide the most value to them? What are the property tasks that they most want taken off their plates? There are some basic items that you’ve probably already considered: Rent collection Property maintenance Leasing Evictions Inspections Cleaning But beyond that, think about some more value-adding services that might not come standard with all property managers: Tax document preparation Renters insurance management Large-scale renovations Pest control Any value-adding services that you can include in your service package can help you stand out from the competition and win more deals with new investors. 3. Connect with absentee owners Absentee owners are a great source for new client leads. These are people who own a home or homes that they don’t occupy. While that’s not a guarantee that they’re renting out the property, it’s certainly a good possibility. By targeting absentee owners with your messaging and outreach, you can be much more specific and spend a whole lot less money than just sending mailers out to all homeowners in your area. Identifying absentee owners is actually a simpler process than you’d expect. Because property ownership and taxes are all public record, you can pull a list of property owners and their residential addresses, and then compare to see who owns property that they don’t live in. It takes a little bit of time investment, but it can save you money down the line. 4. Market locally Everyone knows the three most important factors in real estate: location, location, location. Make sure that you’re doing as much as you can to position yourself as a local business working with the local community. For example, make sure that your Google Business page (and any similar listings like Yelp or Facebook) clearly list your company address accurately. This will help capture anyone searching for local property management services. You can also work on optimizing your website for local searches. When local property investors are looking for managers, they’ll often search Google for terms like “property managers near me,” “local property management companies” or “property management in Miami”. You want to make sure your website is optimized to capture these searches. You can also set up Google ads so that your company is displayed right at the top of the results when people run these searches. SEO is free while Google Ads cost money, but some balance of the two is often the most productive way to capture new leads. 5. Find the best talent While hiring staff members may seem somewhat separate from business growth, they’re actually deeply intertwined. First off, having the right people on your team is going to better position you to both acquire and retain clients. If you don’t have the right staff there to support your clients through the sales, onboarding, and retention process, you’re going to struggle to grow. Second, as you do grow, you’re going to need to continue adding staff to support those new doors. You want to make sure you have a robust hiring methodology in place so that you can identify great talent and bring them into your team quickly. 6. Build your reputation In a service-focused industry like property management, your reputation is your life blood. You need to make sure you’re actively managing that reputation in order to keep your company’s go-to-market strategy healthy and thriving. The first pillar of a great reputation is simply delivering exceptional service. You’re going to be known for the service that you deliver one way or another, so you should be doing everything in your power to make sure that it’s top-tier. Whether that means going above and beyond, hiring the right vendors, or answering the phone during off hours, it’s going to impact how your customers perceive you. The second pillar of reputation is asking happy customers and residents for reviews. Online reviews across Yelp, Google, Facebook and more can help potential customers better understand where you’re meeting and exceeding customer expectations. One of the first things potential clients will do when they discover your company is look for reviews, so make sure there are high-quality, positive comments there to read. 7. Keep all work in scope Another key to scaling your business is maintaining firm boundaries. If you want a company that can grow effectively, you need to maintain a clear scope of work and have conviction in the work you do and don’t do. Catering to each owner’s individual needs and requests can cause your team to get bogged down and decrease efficiency throughout the organization. When you stick to the scope of work that you agreed to and don’t make exceptions for individual clients, it supports scalability and helps weed out owners who are a poor fit. 8. Evaluate the competition One final element that’s vital to growing a business is gaining a comprehensive understanding of the competitive landscape. Analyzing your competitors will help you identify ways for your company to stand out. Take the time to put together battlecards or talking points on your competition. Look through their website, their service offering, and any public reviews to see where you can position yourself as the better option. Adding services like a Resident Benefits Package can help you differentiate yourself even more. With benefits like a filter delivery service that protects HVAC systems, or resident rewards that incentivize on-time payments, an RBP can help tip the scales in conversations with owners. Grow your business with Second Nature Second Nature’s goal is to make renting easier for residents, owners, and property managers alike. Our RBP drives resident retention, saves time traditionally spent on pest control and insurance management, and sets your company up for long-term success. If you want to learn more about how an RBP could set your business apart, schedule a demo with a member of our team today.

July 8, 2025

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Property Management Marketing Automation: The 2025 Playbook

Time is a precious commodity in property management. With so many things to juggle, putting a focus on marketing and sales can feel nearly impossible. But neglecting your client acquisition strategy can cost you valuable opportunities. Property management marketing automation can help ramp up your communications with prospective clients and residents without overwhelming your already busy team. Making time for consistent, high-quality marketing efforts is essential for growth, as well as increased profitability. By automating marketing, you can connect with more investors and residents in less time with less effort. You can supercharge your go-to-market investments and see better returns more quickly. This post will cover what marketing automation is, why it’s beneficial for property management companies, and how you can start automating your marketing. What is property management marketing automation? Property management marketing automation is the process of using technology and software tools to manage marketing communications, lead nurturing, ads, social media, and other repetitive marketing tasks. It helps create more efficient processes, but also more personalized results. There are nearly endless ways that modern marketing automation can help, but here are a few examples: Social media marketing: You can create automatic workflows that post new listings to your social media channels as soon as they go live. You can also use automation to automatically post to your social pages whenever you receive a 5-star review from a customer. Or, if you just want more regular content, you can pre-write posts and use a scheduling tool to publish them later. Email communications: You can also pre-schedule email notifications or follow-ups, and even build entire email sequences to sell your services to prospective clients. Automation tools also let you customize these emails with the recipient’s name, company name, or property address without any added work. Surveys: You can automate when surveys are sent out based on other customer or prospect activities. For example, you can ask for feedback after a sales call, or after a move-in or move-out. You can also create automations that send requests for reviews to those who fill out the survey positively, helping to capture more glowing feedback. Lead qualification: Marketing automation tools allow you to qualify inbound leads based on the information the prospect puts into a form. For example, you can qualify or disqualify them based on the number or types of units they own, the ZIP code of their properties, or other criteria that’s important to you as part of your target client profile. How exactly you put automation to use depends on your marketing strategy and who you’re trying to connect with, but there are tools and techniques for every business. 5 key benefits of property management marketing automation The benefit of effective marketing is fairly simple: you get more opportunities to grow your portfolio. But marketing automation goes beyond that. Let’s take a look at how automating your go-to-market strategy can provide a variety of benefits. 1. More time to focus on high-impact activities Part of developing as a property management leader is getting your mind out of checklist mode and into strategy mode. When you start automating routine tasks in any part of your business, you start to give yourself the time necessary to focus on those strategic activities, In order to become more efficient, all small businesses need to embrace automation. For example, automating email communications to prospects can save you significant time on business development, which you can then spend upgrading systems or automating other functions. Keeping up with day-to-day marketing also frequently involves task switching. You may have to post on social media, email a couple of prospects, respond to a Google Review, and record a marketing video, all over the course of one day. That task switching is inefficient; if you can write all your social posts for the week in a single sitting and then schedule them out with automation software, you’ll save a lot of time. 2. Generate (and qualify) more leads Ultimately, acquiring leads is the primary goal of marketing. It’s how you expand your business and grow your portfolio. Automation can accelerate that process. Using webforms connected to an automation program, you can capture and qualify new leads instantly. When a potential client fills out the form, you immediately have key information about them, their business, and their portfolio, and you can use automated rules to determine whether they might be a good fit. If they are, you can enroll them in an email sequence that provides them more information about your company and encourages them to schedule a call with you. If they’re not, the automation tool can automatically send them a polite email stating that you don’t feel it’s a good match. Qualifying (and disqualifying) leads can help you focus on the highest-value prospects, rather than spending your time on leads that won’t be profitable for you. Advanced automation strategies can also use lead scoring, which weighs different attributes and behaviors to determine whether someone’s likely to become a customer. Segmentation is also key. For example, you can set up different communications for companies that own single-family homes and those who own multi-family buildings, with customized messaging for each portfolio type. 3. Maintain your brand presence Automation also provides more consistency in your marketing efforts, which can present a more trustworthy brand across all channels. For example, if you’re only posting intermittently on LinkedIn, some prospects may see that as less professional. With automation tools, you can post more regularly and give a more consistent appearance. Consistency is particularly important for property managers because, in many ways, it’s a core tenant of the job. Investors want to know that they can count on you to be consistently responsive and proactive in managing their assets. And, in a world where many property owners see management services as very commoditized, a strong brand presence can help you differentiate your business. In areas with a lot of management competition, this can be the difference between winning and losing a deal. 4. Personalize communications for stronger relationships While it may sound counterintuitive, automation can also help your communications feel more personal and help you build more meaningful relationships. Think about some of the marketing communications you receive on a daily basis. Maybe you get emails from a clothing store with recommendations of items you’d like based on your previous purchases. Maybe it’s a take-out restaurant texting you to let you know your favorite dish is discounted this week. Marketing automation can help you reach the same level of personalization. Modern marketing tools can help you tailor communications based on resident or investor preferences and their past behaviours, which can lead to higher engagement with your content and increase the likelihood of getting a positive response. 5. Gain invaluable data-driven insights Most marketing automation platforms also provide detailed analytics and reporting, not just automation. That means that property managers can leverage robust data to make better decisions and get more value from their marketing efforts. For example, if you have data that shows one email nurture program gets more opens and clicks than another, you can divert more leads to the high-performing option, and prioritize revising the low-performing cadence. If you know that it typically takes a prospect a month from the time they first visit your website to the time they request a meeting, you can better estimate your future pipeline based on web traffic. In the era of big data, being able to see objectively how your marketing investments are performing is essential. 5 ways to automate property management marketing tasks (with recommended tools) Because there are so many different tools available that execute so many different tasks, the possibilities for marketing automation are virtually endless. Let’s look at a few ways to properly automate your tasks and set you up for go-to-market success. 1. Lead generation and nurturing Lead generation and nurturing is the process of gaining someone’s initial interest in your services, and then providing them with valuable content and information that helps convince them to work with you. There are plenty of marketing automation platforms designed for just about any type of small business. However, there are also lead generation and nurture functions in many property management accounting softwares, like Buildium, AppFolio, and Rentvine. These are particularly advantageous because they integrate directly with the rest of your daily operations and don’t require adding a whole additional tool to your tech stack. There are also automation tools designed specifically for the property management industry, like LeadSimple. LeadSimple integrates with the most common property accounting software tools and includes tools like AI-powered communications. 2. Email marketing Email marketing can be as simple as sending a single message to a handful of contacts, or as detailed as a multi-touch email sequence based on interactions across your website, emails, and social media channels. Some of the most common use cases for property managers are lease renewal notifications and new resident welcome messages, but email marketing can do a whole lot more. For example, you can set automated emails so that when someone watches a video on your website, they receive an email the next day with recommended follow-up content. This can keep them engaged and aware of your company while also providing value, rather than just asking for a sales call. There are plenty of popular email automation tools out there—MailChip, ActiveCampaign, and Klaviyo are among the most popular—so we recommend shopping around. For smaller property management companies, it may make sense to be budget-conscious. For larger companies, you may be able to take advantage of some of the more advanced features, so opting for a more enterprise-oriented tool could be worthwhile. 3. Social media marketing Most property managers already realize the importance and power of social media, but many are still posting manually without an overarching strategy. Modern social media tools can help you schedule out your posts, and some can even provide recommendations for the best days and times to publish new content to maximize engagement. Automation tools can also syndicate content across multiple platforms, like LinkedIn, Facebook, Instagram, and TikTok, all with just one button click. Some of the most commonly used social media tools include Buffer, Hootsuite, and Sprout Social, which all offer similar feature sets. We also recommend pairing them with Canva, a simple web-based tool for creating graphics, images, and short videos for social media. We use Canva here at Second Nature, and it offers built in templates for all different social media platforms to make sure your images are the right size and resolution for each channel. You might also like: Property Management Companies that are Winning on Social Media 4. Reputation management Reputation management is a critical but often overlooked piece of the marketing equation for small businesses. Especially in people-focused businesses like property management, your reputation can be make or break when trying to connect with new clients. Reputation management is the process of curating the way that you’re talked about on the internet, in person, and at industry events. It’s how your audience thinks and talks about you to others. Reputation management tools are focused primarily on managing, responding to, and collecting customer reviews across various websites like Google Business, Facebook, and Yelp. Birdeye and Reputation.com are two of the most popular reputation management tools, both of which offer AI-powered tools to flag negative reviews and determine the tone and intent behind them, as well as craft recommended responses to those reviews. 5. Property listing syndication Property listing syndication is the process of sharing new vacant properties across multiple channels, all with the click of a single button. For example, you may choose to post all of your listings across Zillow, Trulia, and Homes.com. A syndication tool can do this automatically as soon as you publish a vacancy. Many property accounting softwares include basic syndication functionality. If you’re looking for more advanced options, tools like ShowingHero and Tenant Turner help automate the process of listing vacant properties, scheduling showings, and managing communications with prospective residents across several different sites. Grow your property management business with Second Nature Just as marketing automation frees up more time for you to focus on high-impact, strategic activities, outsourcing resident benefits can also create room for growth. In particular, outsourcing the management of renters insurance, pest control, and air filters can minimize service calls and maximize flexibility for your team. For more information on building a Resident Benefits Package that can give you the flexibility to get strategic, request a demo today.

June 19, 2025

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Preventive Maintenance Checklist for Property Management

Good property managers respond to maintenance issues quickly, but great property managers work to prevent issues from arising in the first place. You anticipate issues, plan for problems, and execute solutions. One key part of prevention is developing a property management preventive maintenance checklist. For multifamily property managers, a regular preventive maintenance check is standard... and easy. Units are often all contained to one apartment building or community, and it’s quick enough to do a walkthrough and ensure that everything is as it should be. For single-family or scattered-site property managers, it gets a lot more complicated. Quick walkthroughs more than once or twice a year are impractical and expensive. In fact, one of the best ways to approach prevention is to help equip residents to take preventive measures themselves. Here at Second Nature, we're constantly asking ourselves, “How do we make it easy for residents to handle preventive care of the property?” In this article, we’ll explore both approaches to preventive maintenance: doing inspections as a property manager, or finding solutions where residents support the process. Let’s dive in. What is preventive maintenance? Preventive maintenance is a proactive approach to keeping a property in good condition with the purpose of preventing unexpected failures and maximizing longevity. This type of maintenance encompasses a broad range of activities, from routine inspections to air filter delivery services that keep HVAC systems running smoothly. By implementing preventive maintenance tactics, property managers aim to prolong the lifespan of property components, maintain property value, and provide a safe, functional, and appealing living environment for residents. What is a preventive maintenance inspection, and who conducts it? A preventive maintenance inspection is a regularly scheduled, systematic evaluation of a property designed to identify and rectify any emerging issues before they escalate into serious problems. In other words, a preventive maintenance inspection is like a health check-up for a property. A well-documented inspection also provides a record of maintenance that can be valuable for insurance claims, move-outs, and more. Generally, single family property managers find themselves in three different camps when it comes to property inspections: Those who visit sites only when an issue arises. Those who conduct scheduled annual preventive inspections, whether there are issues or not. Those who conduct biannual or seasonal preventive inspections, whether there are issues or not. In fact, we conducted a casual Facebook poll to see what single-family property managers said about the frequency of their property inspections. Most PMs who responded said they conduct an annual inspection. A smaller amount said they conduct two inspections per year, and another group said they do it only when needed. A very small amount of property managers polled said they conduct quarterly inspections. But there’s also a fourth option: partnering with a third-party vendor to help manage prevention. There's a lot that residents can do themselves to prevent larger issues from ever developing, but they need a little bit of support to get started. For example, if a resident is changing their air filter on time, the property manager is going to get fewer HVAC tickets, and the HVAC system is going to last longer. If you have a reliable way to provide air filters to residents exactly when they're needed, residents can stay on top of their filter changes. P.S: Want to see more insights and tips, and participate in future polls? What to include in a preventive maintenance checklist Let’s say your company prioritizes regular inspections. Crafting a preventive maintenance checklist for property management is all about anticipating needs and averting potential issues before they arise. Every property is different, so building your checklist begins with a thorough assessment of the building's unique features and vulnerabilities. By understanding the life cycle of various components of a property across the seasons—from HVAC systems to appliances—you can prioritize tasks and schedule maintenance in a way that minimizes wear and tear. Your checklist will likely include the following categories: Structural maintenance Electrical systems Plumbing & water systems HVAC systems (Heating, Ventilation, and Air Conditioning) Appliances (if provided) Lawn & outdoor areas Gutters, downspouts, and drainage Pest control Safety & security systems Interior checks Miscellaneous (Garage, waste disposal, etc.) Sample preventive maintenance checklist for property management companies With input from OnSightPROS, we’ve built a preventive maintenance checklist template for single-family rental property management companies. Feel free to use this template as-is or tweak it to fit your particular properties! If you want a downloadable, in-depth template for all types of rental inspections, download it here. Structural maintenance Roofing: Inspect for leaks, damaged tiles, or shingles. Make sure gutters and downspouts are clear of blockages or debris. Foundation: Check for cracks, water damage, or shifting. Walls and ceilings: Look for cracks, dampness, and signs of mold. Electrical systems Safety checks: Ensure that outlets, switches, and wiring are in good condition. Lighting: Regularly test all indoor and outdoor lighting fixtures. Inspect circuit breakers and panels. Plumbing & water systems Drains and pipes: Check for leaks, blockages, or buildup. Water heater: Test hot water temperature and pressure relief valves and inspect for signs of wear. Faucets and fixtures: Ensure proper flow and check for leaks or dripping. Heating, Ventilation, and Air Conditioning (HVAC) Filters: Ensure they are up to date. With Second Nature’s Air Filter Delivery, you’ll have the date stamped right on the filter itself. Ductwork: Check for mold or leaks. Coil fins: Make sure air conditioner fins are clean and not damaged. Seasonal checks: Ensure the heating system is ready for winter and cooling for summer. Drain pans: Make sure any drain pans and overflow drains are clear of obstruction. If your system has an emergency overflow shutoff, test to make sure it's working correctly. Appliances (if provided) Oven, range, microwave: Check for cleanliness and ensure they are working efficiently. Make sure that gas burners light quickly and safely. Refrigerator: Check coils for cleanliness and inspect seals. Washer and dryer: Inspect hoses and ensure the resident is keeping lint and drainage clean. If the washer has a drain pan, make sure it's not damaged and that the drain is clear. Lawn & outdoor areas Landscaping: Ensure that the landscaping is tidy and up to HOA standards, if applicable. Paths and driveways: Check for cracks or tripping hazards. Pools: Ensure safety measures are in place and gate latches operate correctly. Fences: Check for holes in fences or damaged gates, especially if the property is marketed as having an enclosed yard. Retaining walls: Check for damage that could compromise the structural integrity of any retaining walls on the property. Pest control Look for chew marks, droppings, and any other signs of pests. With Second Nature’s On-Demand Pest Control, residents can call a professional at the first sign of any issues. We handle it for you, typically with no cost at point of service. Safety & security systems Smoke and carbon monoxide detectors: Ensure they are installed properly, including proper hardwiring, if required. Check batteries, backup batteries, and expiration dates. Fire extinguishers: Check expiration dates and ensure they're easily accessible. Emergency exits and paths: Ensure they're clear and well-marked, and that any exterior structures like stairs or fire escapes are in good condition. Home security systems: If the property includes a security system, ensure that window and door sensors are in working order. Interior checks Floors: Look for damaged tiles, caulk problems, cracked grout, carpet wear, or wood floor issues. Windows and doors: Ensure they open and close smoothly, and check seals. Check window screens for holes. Miscellaneous Garage and parking areas: Check for proper lighting, security, and cleanliness. Waste disposal: Ensure trash bins are clean and in good condition. The importance of preventive maintenance Preventative maintenance may seem like a hassle, but it can save significant money down the road. Even something as simple as getting air filters delivered on time can reduce HVAC costs by hundreds of dollars annually. Preventive maintenance isn’t just about keeping the property in good shape—it's a strategic approach that yields all kinds of benefits. By prioritizing prevention, you can: Minimize costly repairs: Regular maintenance can prevent small maintenance issues from escalating into expensive emergencies. Extend asset longevity: Helping residents proactively care for components like HVAC systems extends their lifespan, saving money in the long run. Enhance resident satisfaction: Supporting a resident in maintaining their property means fewer complaints and issues, leading to higher retention rates. Ensure safety: Regular checks keep safety hazards at bay, reducing the risk of accidents and liability. Improve property value: Consistent upkeep maintains or even increases the property's market value. Stay compliant: Keeping up with building codes and safety regulations is non-negotiable, and preventive maintenance ensures compliance. By incorporating a preventive maintenance strategy, property managers not only safeguard the property's physical condition, but also its financial viability and desirability in the market. It's a proactive measure that resonates well with residents and investors alike. Best tools to support preventive maintenance Here’s the big question: how can property managers for single-family homes make preventive maintenance easier without breaking the bank? As we saw in our Facebook poll, scattered-site properties don’t lend themselves well to frequent inspections. The best solution is to help your residents do it themselves. Here are three of our favorite products to get that done. Second Nature We’ve built a Resident Benefits Package with proactive property management in mind. Each individual benefit—from renters insurance to on-demand pest control to air filter delivery—aims to address ongoing needs and prevent common issues from escalating. Let’s take air filter delivery as an example. In the largest HVAC data study of its kind, filter delivery service reduced HVAC ticket requests by 38% Just by including a filter subscription for your residents, you can help them cut energy costs and ensure your HVAC system lasts for the long term. Learn more about all of the features of our Resident Benefits Package and how it delivers results for residents, property investors, and property management companies. RentCheck RentCheck is a property inspection app built to help residents do inspections on their own. The property manager can request and track routine inspections from the resident. You can set up any cadence you want and customize the self-guided inspection requirements. RentCheck will fully automate reminders and support residents in completing a video inspection that then gets sent to you as a shareable report. zInspector zInspector is another very popular rental inspection app in the SFR property management space. Like RentCheck, property managers use zInspector to schedule, customize, and receive inspections conducted by residents themselves. The app also includes a toolkit with an evolving set of property and task management tools. You can get 360º photos and virtual tours with a compatible 360º camera and printable, customizable inspection reports. FAQs Q: What are the benefits of preventive maintenance? Preventive maintenance offers a multitude of benefits, including: Cost savings: It reduces the likelihood of incurring expensive emergency repairs and extends the life expectancy of property assets. Efficiency: Regular maintenance ensures that all systems and appliances are running at optimal performance, which can lower energy costs. Tenant retention: A well-maintained property leads to higher resident satisfaction, which can decrease turnover rates. Safety: It helps identify potential safety issues before they become hazardous, promoting a safer living environment. Value preservation: Ongoing care maintains and can enhance the property's value over time. Compliance: Ensures that the property remains in compliance with the latest building codes and safety regulations. Overall, preventive maintenance is essential for maintaining a property's integrity, ensuring resident satisfaction, and optimizing operational budgets. Q: What is included in basic preventive maintenance? Basic preventive maintenance for property management typically encompasses: Routine inspections: Regularly checking the structural integrity of the property, including roofs, walls, and foundations. HVAC maintenance: Ensuring heating, ventilation, and air conditioning systems are clean and functioning properly. Plumbing checks: Looking for leaks, clogs, or wear in pipes and fixtures. Electrical system audits: Inspecting electrical panels, wires, and safety systems to prevent malfunctions. Groundskeeping: Checking outdoor areas, including landscaping, gutters, and drainage systems. Appliance upkeep: Servicing provided appliances to prevent breakdowns and extend their lifespan. Safety inspections: Verifying that all safety equipment, like fire extinguishers and smoke detectors, is in working order. These tasks are designed to identify and address issues before they develop into more significant problems, helping to ensure the property remains safe, functional, and appealing to residents. Q: What’s the ideal schedule for preventive maintenance? The ideal schedule for preventive maintenance can vary depending on the specific needs of a property, but as a general guideline: Weekly/monthly/quarterly: Regular checks on a weekly to quarterly basis are more common for multifamily properties and apartment buildings, with quick checks on high-usage areas and equipment, such as communal spaces and gardening upkeep. Quarterly maintenance inspections can include a more in-depth look at HVAC systems, plumbing and electrical systems, and seasonal preparations. Annually/seasonally: A small number of SFR property managers will conduct seasonal or semi-annual inspections. Many more conduct annual inspections. These are more in-depth inspections to keep an eye on potential issues. Minimize your preventative maintenance obligations with Second Nature Ready to see how a Resident Benefits Package can save you time on preventative maintenance and get you focused on value-driving activities? Register for an upcoming RBP Workshop to hear from real property managers about how they've streamlined so many preventative maintenance tasks.

June 12, 2025

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10 Best Property Management Blogs to Read and Learn From

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

June 11, 2025

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Property Management Guide for Foreign Investors

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

June 10, 2025

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Top Property Management Dashboards for 2025

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

June 9, 2025

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5 Property Management Industry Trends Shaping 2025

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

May 20, 2025

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How to Write a Friendly Rent Increase Letter + Free Template

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

May 14, 2025

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AI for Property Management: Benefits and Top Tools

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

May 6, 2025

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9 Marketing Ideas to Unlock Growth for Your Property Management Company

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

May 2, 2025

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Your Guide to Security Deposit Laws in Florida

This post was last updated on 1/13/2025. Security deposits are an essential aspect of the property manager-resident relationship in Florida. They serve as financial protection for property managers while ensuring residents uphold their rental agreements. However, understanding the laws governing these deposits is crucial for avoiding disputes and ensuring compliance. In this blog, we’ll cover: An overview of security deposit laws in Florida Commonly asked questions about security deposits A note on language: Here at Second Nature, we prefer to use the terms "resident" and “residency” rather than “tenant” and “tenancy,” in order to emphasize the relationship building element of property management work. However, there may be instances where terms such as "tenant" are used for legal purposes within documents or communications related to security deposit laws. Disclaimer: This is not legal advice. Any information contained in this blog is provided for informational purposes only and should not be construed as legal advice on any matter. This is especially true given that laws change on a regular basis. You should review specific security deposit laws for your state in detail to make sure you have the most up-to-date information available, and consult with your local counsel for applicability to your property. Why are security deposits in Florida important? Security deposits are like life jackets. You hope you’ll never have to use it, but when you do, you’ll be glad it’s there. Unfortunately, no matter how thorough your screening process is, you may end up with a resident who makes questionable choices. And when those choices cause damage to your property you’ll be thankful for your security deposit. Imagine Brad and Tyler, two roommates who moved from Miami to Gainesville. Missing the ocean but not wanting to drive all the way to the beach, they decide to recreate the summer vibes in their rental home. They break out the beach chairs, ask Alexa to play some Beach Boys, and fill up a kiddie pool in the living room to dip their toes into. But when it springs a leak, the carpet gets soaked through and the subfloor is damaged. Now you have to do some serious renovations, and it’s going to cost you. But since there is a security deposit, that expense may come out of their security deposit. Overview of security deposit laws in Florida Florida’s security deposit laws, primarily found under Florida Statutes Section 83.49, in addition to other statutes under landlord and tenant law, outline the rights and obligations of property managers and residents concerning the handling, refund, and permissible deductions of security deposits. Below is a breakdown of the key areas covered under these regulations. Deposit laws Florida’s deposit laws prioritize clarity and fairness in property manager-resident agreements. Key requirements include: Providing written notice of where the deposit is stored within 30 days of receipt. Following legal timelines for returns and notices of deductions. Keeping deposits separate from personal or business accounts for the benefit of the tenants to ensure accessibility. These laws protect residents from unfair practices and help property managers adhere to their professional obligations. Security deposit limit Unlike some states, Florida does not impose a statutory cap on the amount property managers can charge as a security deposit. Property managers are free to determine a reasonable amount (although public listings show that they typically charge one to two months’ rent). Prospective residents should be informed of the deposit amount before signing a lease in order to align expectations. Property managers may offer a “fee” in lieu of security deposit, an alternative option for security deposits that has become more common with other states. Under Florida law (Fla. Stat. Sec. 83.491), property managers may offer this option through written notice to the tenant, providing the tenant the right to pay a security deposit instead. Storing a tenant’s security deposit Florida law (Fla. Stat. Sec. 83.49(1)) requires that security deposits be kept in a separate account to ensure they are not commingled with the property manager’s personal or business funds. Walk-through inspection of rental property While Florida does not explicitly mandate a walk-through inspection before or after a resident’s occupancy, the duty to inspect and ensure the premises are safe is implied through the property manager's obligations under Florida law. Property managers who perform these inspections benefit from clearer documentation of property conditions. A move-in inspection with a signed checklist can establish a baseline, while a move-out inspection can help identify damages beyond normal wear and tear. Photos or videos taken during these inspections are useful for resolving disputes. Inspections can foster transparency and provide evidence to justify any deductions from the security deposit. Notice of deductions When deductions are taken from a security deposit, property managers are required to provide written notice to the resident (Fla. Stat. Sec. 83.49(3)(a)). This notice must include the exact amount deducted and the specific reasons for the deductions. For example, deductions might include unpaid rent or costs for repairing damage beyond normal wear and tear. Property managers must deliver this notice to the resident within 30 days via certified mail to comply with Florida law. If the property manager does not intend to impose a claim of deductions from the security deposit, the property manager must return the security deposit, with interest if applicable, to the resident within 15 days of the resident’s surrender of the premises for termination of the lease. Learn more: How to Write a Security Deposit Return Letter + Free Template Deductions allowed When deductions are taken from a security deposit, property managers must specify the reasons (Fla. Stat. Sec. 83.49(3)(a)), such as failure to pay rent or damages beyond normal wear and tear. Other deductions that may be allowed include: Cleaning fees: Only if specified in the lease agreement. General cleaning due to normal use cannot be deducted. Unpaid utilities or other charges: Any unpaid utility bills or other charges specified in the lease agreement can be deducted from the security deposit. Property managers cannot deduct for routine wear and tear (for example, minor scuffs on walls, faded paint, or wear on carpets from ordinary use). Written notice of security deposit receipt Property managers must inform residents in writing within 30 days of receiving their security deposit (Fla. Stat. Sec. 83.49(2)). This notification must detail where the deposit is being held (such as in a non-interest-bearing account, an interest-bearing account, or a bond posted with the clerk of the circuit court). Deposit holdings Property managers may choose from the following deposit holding options (Fla. Stat. Sec. 83.49(1)): A non-interest-bearing account An interest-bearing account (with earned interest credited to the tenant – at least 75% of the average annual interest rate or 5% per year simple interest, whichever the property manager elects) Posting a surety bond instead of holding the deposit in an account. If this method is used, the property manager must pay the resident 5% per year simple interest. Security deposit deadline Under Florida law, property managers must follow strict timeframes regarding security deposits (Fla. Stat. Sec. 83.49(3)(a)). If no deductions are made, the full deposit must be returned to the resident within 15 days of the lease’s termination. If deductions are necessary, the property manager must notify the resident in writing within 30 days, specifying the amount and reasons for withholding. The resident then has 15 days to contest the claim, in writing and sent to the property manager. Other requirements apply if a fee was collected by the property manager in lieu of a security deposit (Fla. Stat. Sec. 83.491). Failing to adhere to these deadlines may jeopardize the property manager's right to make claims against the deposit. Returning a security deposit to the tenant Florida law does not mandate a specific form for the return of a tenant's security deposit. However, best practices include: Certified check or bank draft: A certified check or bank draft is often used because it provides proof of payment and ensures that the funds are guaranteed. This is a reliable method for both parties. Electronic transfer: If both the landlord and tenant agree, the security deposit may also be returned through an electronic payment method (e.g., direct deposit or payment apps). Ensure this agreement is documented and keep a record of the electronic transfer. Personal check: This can also be used but is less secure than a certified check. Whether the lease ended amicably or through an eviction, Florida landlords and property managers should maintain a record of the security deposit return, regardless of the method, including a receipt or confirmation of payment. This documentation protects both parties in case of disputes. Selling the property or change in ownership When a rental unit changes ownership, Florida law (Fla. Stat. Sec. 83.49(7)) requires the outgoing property manager to either: Transfer the resident’s security deposit (minus any lawful deductions) to the new owner, or Refund the deposit directly to the resident. Written notification of the transfer, including the new property manager’s contact information, must be sent to the resident. The new owner assumes all responsibilities for the security deposit once the transfer is complete. Failure to comply with Florida’s security deposit laws Non-compliance with Florida’s security deposit regulations can result in severe consequences for property managers (Fla. Stat. Sec. 83.49(3)), including: Forfeiture of claims: If a property manager or landlord fails to provide timely notice of deductions, they may forfeit their right to withhold any part of the deposit. Resident legal action: Residents may be able to sue for the full return of the deposit, along with potential damages and attorney fees. Fines and penalties: Breaches of trust related to deposit handling may lead to financial penalties or additional legal actions. To avoid these risks, property managers should familiarize themselves with the law, document all actions, and maintain open communication with renters. Property managers should also consult with their local counsel for applicability of these laws to their property. Additional FAQs about Florida security deposit laws What is the new security deposit law in Florida? In April 2023, Florida HB 133 was passed into law, leading to the addition of Fla. Stat. Sec. 83.491, giving property managers the option to charge a monthly non-refundable fee instead of a security deposit. Such security deposit alternatives help reduce upfront costs for potential residents. Property managers looking to charge this type of monthly non-refundable fee should refer to the specific requirements under Fla. Stat. sec. 83.491 to ensure compliance. Learn more: What is Security Deposit Insurance? Pros and Cons [+Best Providers] Does a landlord have to provide receipts for security deposit deductions in Florida? While not explicitly required under Florida law, providing receipts for deducted expenses can prevent disputes and demonstrate good faith. Florida law does require property managers to provide an itemized list of deductions in the written notice to residents required when imposing a claim for damages upon the security deposit. Can a tenant use the security deposit as the last month’s rent? Residents are not automatically entitled to apply their security deposit toward their final rent payment. Unless the lease explicitly allows this, doing so may result in legal action. Learn more about security deposit best practices: What to Include in a Security Deposit Letter How to Write a Security Deposit Letter - Templates for Full Refund, Partial Refund, No Refund, and Request for Payment How to Send a Security Deposit Letter Mistakes to Avoid When Writing a Security Deposit Return Letter Final thoughts Florida’s security deposit regulations aim to balance the rights and responsibilities of property managers and residents. By staying informed and following the appropriate procedures, both parties can navigate this aspect of the rental process with confidence. At Second Nature, we aim to help you stay compliant, recognizing that compliance with property management laws safeguards your business and strengthens relationships with your residents. Our approach centers on transforming the resident experience, a concept that has shaped every aspect of our company. The resident benefits package is a comprehensive solution designed for property management companies, offering cost savings for both you and your residents while prioritizing convenience and an exceptional resident experience. Learn more about Second Nature’s Resident Benefits Package. Legal Disclaimer: The information contained in this blog is provided for informational purposes only and shall not be construed as legal advice. The laws referenced in this blog are subject to change. Please consult with your local counsel for applicability to your property.

February 6, 2025

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Your Guide to Security Deposit Laws in Colorado

This post was last updated on 1/10/2025. Navigating security deposit laws can be challenging for property managers and residents alike. That’s why we’ve assembled this guide to the key rules and regulations governing security deposits in Colorado. In this blog, we’ll cover: The basics of security deposit laws in Colorado, including what they’re used for and how they’re handled. Common questions about security deposits, such as what constitutes normal wear and tear and how long before deposits must be returned. Best practices for creating clear communication around security deposits, including how to write refund letters. A note on language: Here at Second Nature, we prefer to use the terms "resident" and “residency” rather than “tenant” and “tenancy,” in order to emphasize the relationship element of property management work. However, there may be instances where terms such as "tenant" are used for legal purposes within documents or communications related to security deposit laws. In these cases, please understand that our intent remains the same—to provide clear, accurate, and meaningful information to all people involved in the business relationship. Disclaimer: This is not legal advice. Any information contained in this blog is provided for informational purposes only and should not be construed as legal advice on any matter. This is especially true given that laws change on a regular basis. You should review specific security deposit laws for your state in detail to make sure you have the most up-to-date information available, and consult with your local counsel for applicability to your property. Why are security deposit laws in Colorado important? If you’re fortunate, you’ll never actually need to touch your security deposits beyond some minor damage here and there. But much like car insurance or a fire extinguisher, you’ll be really glad you have it when you need it. Horror stories of resident damage are just a quick Google search away, and you don’t want to become one of them. Imagine you have a house that you rent to Kennedy and Heidi, two best friends who are fresh out of college. Not content with neutral wall colors, and feeling inspired by some DIY TikToks, they decide to repaint their living room. Three gallons of paint and six months later, their lease is up and you enter the property to do routine turnover maintenance. Now you have to bring in a painter to paint over their trendy artwork. Luckily, that expense may come out of their security deposit, so you aren’t on the hook for the expenses. Overview of security deposit laws in Colorado Security deposit regulations in Colorado are designed to clarify the rights and responsibilities of property managers and residents. Below, we break down the key aspects of these regulations and statutes: Purpose of security deposit The purpose of a security deposit is to provide landlords/property managers with financial protection in scenarios such as unpaid rent, damage beyond normal wear and tear, or costs incurred due to eviction. It also encourages residents to maintain the property and adhere to the lease terms. At the end of a lease, residents who meet their obligations typically receive their deposit back, minus any legally allowable deductions. Security deposit limit In Colorado, the current statute governing security deposit limits is CO Revised Statutes § 38-12-102.5. Effective August 7, 2023, this law stipulates that property managers cannot require a security deposit exceeding the equivalent of two months' rent. Please be aware that laws are always subject to change. Storing a tenant’s security deposit Colorado law does not specify requirements regarding the storage of resident security deposits. Specifically, there is no state statute mandating that security deposits be held in a particular type of account or location. Inspection of rental property A final walkthrough upon moveout allows property managers to assess property conditions and identify issues such as damages beyond normal wear and tear. The repair costs for these types of damages may be deducted from the security deposit. Note that property managers are obligated to maintain rental units in a habitable condition, ensuring they are safe and livable for residents. This obligation is outlined in the CO Revised Statutes § 38-12-503, known as "Warranty of Habitability". Written notice of security deposit Colorado landlords and property managers are required to provide residents with a written statement detailing any deductions from the security deposit, within 30 days unless the lease allows for additional time, up to a maximum of 60 days. This requirement as specified in CO Revised Statutes § 38-12-103(1), mandates that property managers must furnish a written statement listing the exact reasons for the retention of the security deposit. This statement must accompany the payment of any remaining deposit amount and be sent to the renter’s last known address. Deductions CO Revised Statutes § 38-12-103 permits property managers to retain portions of a security deposit for specific reasons, including: Unpaid rent Abandonment of the premises Nonpayment of utility bills/charges Repair work Cleaning contracted for by the resident It's important to note that property managers cannot retain any part of the security deposit to cover normal wear and tear. Wear and tear is generally considered to be signs of use, like small scuffs on flooring, carpet wear, and minor scrapes to walls or baseboards. It does not typically include more significant damage like broken windows or fixtures, holes in walls, or stains on carpet or countertops. Nonrefundable deposits Nonrefundable deposits are prohibited in Colorado and cannot legally be retained if the resident has fulfilled all financial obligations and left the property in good condition. Returning a security deposit to the tenant Property managers are obligated to return the security deposit within the timeframe stipulated by law, which by default is one month after the lease's termination or the resident’s surrender of the premises, unless the lease agreement specifies a longer period, not exceeding 60 days. Selling the property In Colorado, when a rental property changes ownership, the handling of security deposits is governed by CO Revised Statutes § 38-12-103(4). This statute outlines the responsibilities of the person holding the security deposit upon cessation of their interest in the property, whether by sale, assignment, death, appointment of a receiver, or otherwise. The individual in possession of the security deposit must, within a reasonable time: Transfer the deposit: Transfer the security deposit, or any remainder after lawful deductions, to the property manager's successor in interest and notify the resident by mail of such transfer and the transferee's name and address; or Return the deposit: Return the security deposit, or any remainder after lawful deductions, directly to the resident. Upon compliance with these requirements, the original holder of the security deposit is relieved of further liability regarding the deposit. The new owner or successor in interest then assumes all rights and obligations concerning the security deposit. Failure to comply with Colorado’s security deposit laws In Colorado, CO Revised Statutes § 38-12-103(3)(a) addresses the consequences for property managers who fail to comply with security deposit regulations. If a property manager willfully retains a resident's security deposit in violation of the statute, they may be liable for treble (three times) the amount wrongfully withheld, in addition to reasonable attorney fees and court costs. However, before initiating legal proceedings, the resident must provide the property manager with notice of their intention to file a lawsuit at least seven days before filing the action. Learn more: Security Deposit Alternatives for Property Managers and Residents What is Security Deposit Insurance? Pros and Cons Additional FAQs about Colorado security deposit laws Are deposits refundable in Colorado? Yes. Deposits must be fully refunded minus any valid deductions. What is considered normal wear and tear? Wear and tear includes minor scuff marks on flooring, worn carpet, general wear on appliance handles, and the like. Damage, like large stains/holes or broken fixtures, may not be included. Do property managers need to provide receipts for deductions? Yes. Landlords must furnish a written statement itemizing deductions, accompanied by receipts, if applicable. How long does a property manager have to return the deposit? Under Colorado law, landlords must return the security deposit to the resident within one month after the termination of the lease or the resident’s surrender of the premises, however, this timeframe can be extended to 60 days after the termination or the lease or resident’s surrender of the premises if specified as such in the executed lease. What happens if the deposit is not returned within 30 days? Property managers failing to return the deposit or an itemized list of deductions within the required period can face legal consequences and additional costs, such as triple the amount of the security deposit wrongfully withheld, attorney fees, and court costs. Best practices for property managers: What to Include in a Security Deposit Letter How to Write a Security Deposit Letter - Templates for Full Refund, Partial Refund, No Refund, and Request for Payment How to Send a Security Deposit Letter Mistakes to Avoid When Writing a Security Deposit Return Letter Final thoughts Navigating Colorado's security deposit laws requires careful attention to detail. At Second Nature, we’re here to support you in security deposit law compliance, with the philosophy that ensuring compliance not only protects your business but also fosters better resident relationships. The fact is, we’ve built our entire company on the idea that resident experience can change the game in property management. Our Resident Benefits Package is an all-in-one resource for property management companies that saves money for you and your residents and delivers the best in convenience and resident experience. Learn more about the Resident Benefits Package. Legal Disclaimer: The information contained in this blog is provided for informational purposes only and shall not be construed as legal advice. The laws referenced in this blog are subject to change. Please consult with your local counsel for applicability to your property.

January 23, 2025

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10 Property Management Goals to Set for the Year (with examples)

Goal-setting is critical to planning for a changing industry. Before we dive into specific property management goals we recommend for the coming year, let's take a minute to define how to approach goal setting in property management. How to set goals and objectives for your property management company Think long-term Dr. Stephen Covey’s 2nd habit is “Begin with The End in Mind,” the principles of which should be applied to your property management strategies as a single-family rental property manager. This is especially true now as we enter 2024 with an industry that continues to evolve. Goal-setting should start with an understanding of where you want to be in several years, not just at the end of this year. It forces you to consider industry trends that you may not feel the impact of immediately but will definitely affect the viability of your business in the future. Short-term goals should ladder up to long-term goals. They should serve as pieces to the long-term puzzle. It’s important not to lose sight of what that puzzle is supposed to look like when it’s finished. Identify opportunities to improve resident experience and retention The most important property management industry trend continues to be the evolution of demand from a simple service to a more complex experience. Thus, you should be identifying opportunities to improve resident experience and setting goals based on how you want to achieve said improvement. What can you do this coming year to improve the living experience for your residents? This could include new programs to be developed and implemented, new roles on the team specifically focused on experience, or a number of things, depending on your answer. The best way to identify opportunities is to listen to your residents. It sounds simple, but they’ll tell you what they perceive as a great living experience, and that becomes data you can act on. Consider a list of services you think a resident may like, some of which could be rental rewards, home-buying assistance, credit reporting, holiday gift certificates to local businesses, etc. You can survey your residents on these ideas pretty easily, or you can simply roll them out and gauge resident response. Identify opportunities to improve investor experience We talk a lot about the triple win here at Second Nature. The third branch of the triple win is a win for your clients. Typically, this is laddered up to by a resident win, which minimizes vacancy to the benefit of the client. There is more you can do, though, to really deliver something irreplaceable to your clients. A popular takeaway from PMLX was the value of communication with clients. Scheduling quarterly meetings with your clients has proven valuable to the companies that pioneered this concept. Launching these quickly became a popular short-term 2024 goal for many attendees. Clients leave with an extensive understanding of what is happening with their investments. That’s an additional win for them and for you, as investors are not only more involved, but they tend to appreciate the time you take to communicate with them and can gain deeper insight into the full value that your company provides. Plan sustainable growth initiatives Like thinking long-term, creating sustainable growth initiatives involves expanding your business in a manner that's not only profitable but also manageable and responsible. This means considering how growth will impact all facets of your business, from your operational capacity to the quality of service you provide to residents and investors. Start by analyzing market trends and potential areas for expansion, whether it's by increasing the number of properties you manage or venturing into new geographical regions. Balance ambition with practicality. Ensure that any expansion doesn't stretch your resources too thin or compromise the high standards of service that have contributed to your current success. Automate and streamline operations to build efficiency James Clear says in his book Atomic Habits, "You don't rise to the level of your goals, you fall to the level of your systems." In some ways, setting goals is secondary to ensuring you have the right processes and procedures in place. Mark Cunningham shares that he has a KPI to achieve 6 percent quarter-over-quarter net income growth. It's not about setting new goals for a number of new doors each year; it's about focusing every quarter on that consistency. If you aren't confident in your processes yet, that should be an area to focus on when you are goal-setting. For example: Identify areas where manual processes are slowing down operations. This could be anything from rent collection and lease renewals to maintenance requests and property inspections. Or, look into streamlining communication channels. Efficient communication tools not only facilitate better interaction among team members but also improve the way you engage with residents and investors. Data management and reporting can also be significantly enhanced through automation. Think about who you want in the room with you Who are the most strategic thinkers in your company? What personalities will be at the table? Set the rules of engagement for the meeting to help your team be successful when you are actually setting goals. You should also decide your approach: Do you want to be deeply collaborative and get everyone's opinions or if you want to hear from your team and then make the executive decisions on your own. (Our recommendation!) Goal-setting isn't a time to give everyone an equal voice. Know your "who" and make sure they're the ones in the room. Ask: What should we stop doing? For you as the leader of your company, ask, "What should I stop doing and delegate away?" But, just as importantly, you should also be asking a broader question: "What does my company need to stop focusing on?" This may be about refocusing your niche, the types of properties you want to handle, the clients you want to focus on, etc. What are the things you're doing that don't qualify as "absolutely killing it." It might be time to cut those out. If you're contemplating stopping, you probably should. Follow the opportunity Another way of saying this is to pay attention to the market. For example, five years ago, focusing on accidental owners would have been a bad strategy because the market was being flooded with investors. But, going into 2024, the market has changed. Now accidental landlords are the majority of new opportunities. Homeowners are hesitant to sell because of high interest rates and have found themselves needing property management for a property they hadn't intend to keep. In short, be ready to pivot to follow the biggest market opportunities. Get your KPIs organized before you set goals It becomes a very expensive goal-setting meeting if you don't have all your metrics and year-in-review numbers prepared beforehand. Have your SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats) ready, as well. Review all of your numbers before you sit down to set your next year's goals. It's critical to measure against last year's goals, see where you succeeded, where you hit below the mark, and how that might affect your coming year. Review your financials, dashboards, KPIs, etc., before setting goals. This could include anything from average management fee, to number of google reviews, open work orders, average rental rate, profit margin, number of employees, etc. This pre-review will help you assess where you actually are and where you want to go. Are you ready to take bigger risks? Do you need to double-down on some goals from last year? Your team should come to a goal-setting meeting prepared with all of these numbers ahead of time so you don't waste time. Be specific Your goals should have specificity or they set you up for failure. Get really clear on what is possible and what you really want to accomplish. Be clear and concise about your goals and what would constitute success. That may mean setting different levels that you target: things that must be accomplished, things that are a stretch, etc. If anyone on your team could read one of their goals and ask, "What does that mean?" you need to keep digging into more specificity. Example of property management goals Here are some examples of smart goals to set for a property management company. For your company, you should find ways to make these extremely specific and time-bound in a way that make sense for your team, your niche, and your focus. Our examples are more general so they apply to most SFR property managers who are in our audience. But remember that these can be made more specific for your own business. 1. Grow property portfolios Increasing your portfolio signifies not just an increase in business scale but also an enhancement of market presence and revenue potential. To achieve this, focus on networking with property investors, leveraging marketing strategies to attract new clients, and providing exceptional service to encourage word-of-mouth referrals. It’s also essential to identify emerging markets or areas with high rental demand. Careful market analysis and strategic partnerships can be instrumental in uncovering opportunities for portfolio growth, ensuring that each new addition aligns with your company’s strengths and long-term vision. 2. Increase resident satisfaction KPIs Great property management success is all about improving resident experience and satisfaction. Focus on understanding and addressing the needs and concerns of your residents. Implement regular feedback mechanisms like surveys to gather insights into their living experience. Prioritize swift and effective responses to maintenance requests, and explore ways to add valuable services that residents want, like those offered in a Resident Benefits Package. Training your staff in customer service excellence can also play a significant role. 3. Improve ROI To enhance ROI, focus on optimizing rental rates without compromising occupancy rates. Conduct market research to ensure your pricing is competitive yet profitable. Explore ways to reduce operational costs, such as negotiating better deals with vendors, implementing energy-saving measures in properties, or implementing new services that can increase your ancillary revenue. Regularly reviewing financial performance and identifying areas for cost savings or revenue enhancement can lead to significant improvements in your overall ROI. 4. Increase occupancy rates It's just math: Higher occupancy directly correlates to more stable revenue streams. To achieve this, focus on making your properties more attractive to potential tenants. This can involve the obvious like ensuring your properties are well maintained. But it also means providing services that residents are excited to pay for and stay for. Boosting occupancy rates and increasing retention are two major benefits of a resident benefits package. Understanding the needs and preferences of your target market is crucial. Tailor your services and communication to meet these needs, thereby making your properties more appealing. 5. Improve maintenance quality and speed Implementing a streamlined process and/or software for receiving and responding to maintenance requests can significantly reduce response times. Consider adopting technology solutions like maintenance management software to track, prioritize, and dispatch maintenance tasks promptly. Regularly sourcing feedback from residents post-maintenance can also help in continually assessing and improving the quality of your services. High-quality, quick maintenance responses not only keep residents happy but also contribute to the long-term upkeep of your property. 6. Enhance digital marketing efforts A strong online presence can significantly increase your property management company's visibility and appeal. Focus on building a user-friendly website, optimizing it for search engines (SEO) to improve your ranking in search results. Use social media platforms to engage with your audience, showcase properties, and share valuable content. Consider leveraging email marketing to keep clients and residents informed and engaged. Additionally, exploring online advertising options such as Google Ads or social media ads can help target potential clients more effectively. 7. Improve client satisfaction KPIs Enhancing the satisfaction levels of your clients – the property owners – is as crucial as focusing on tenant happiness. To improve client satisfaction KPIs, start with transparent and regular communication. Keep your clients updated with comprehensive reports on their property's status, including occupancy rates, financial performance, and any maintenance issues. Implement client feedback mechanisms to understand their expectations and areas of concern. Tailor your services to meet these specific needs, whether it’s providing more detailed financial analysis, offering advice on property upgrades, or improving tenant screening processes. Demonstrating proactive problem-solving and value addition can significantly boost your clients' trust and satisfaction. Remember, a satisfied client is more likely to retain your services and refer you to others, enhancing your business growth. 8. Adopt automation Property management automation can streamline various aspects of your operations, from tenant screening and lease management to rent collection and maintenance scheduling. Investing in property management software can significantly reduce manual tasks, minimize errors, and provide real-time data analysis. This not only frees up time for your team to focus on more complex tasks but also improves the overall tenant and client experience. Automated communication tools can keep tenants and property owners updated, while automated reporting can provide insightful analytics for better decision-making. Embracing automation is about staying ahead in a competitive market and offering a more responsive, efficient service. 9. Increase convenience Convenience has become one of the most significant deciding factors for clients and residents. Start by evaluating your current processes from their perspective – how easy is it to pay rent, report maintenance issues, or get updates about their property? Implementing online platforms for rent payments and maintenance requests can greatly enhance convenience for tenants. For property owners, providing easy access to property performance reports and financial statements through a client portal can make a significant difference. Additionally, consider adopting mobile solutions that allow both tenants and owners to access services and information on-the-go. The goal is to make every interaction as seamless and hassle-free as possible. A little twist? Implementing a Resident Benefits Package can make life more convenient for them and for your team. We're all about making things easier. You can learn more about how we do it on our benefits page. 10. Reduce rent arrears To achieve this, start by implementing proactive rent collection strategies. Set up automated reminders for rent payments and offer multiple, convenient payment options to make the process as easy as possible for residents. Implementing a strict but fair rent collection policy can also help in minimizing delays. Educating residents about the importance of timely rent payments and the potential consequences of falling behind can foster a sense of responsibility. In cases where residents are consistently late, consider personalized communication to understand their situation and, if possible, work out a payment plan. A great strategy to hit this goal is to increase incentives for on-time payments. Credit reporting is a great way to incentivize on-time monthly rent, as are resident rewards. The importance of goal setting in property management Setting clear and strategic goals is essential for steering your company towards success and growth. Goals act as a roadmap, guiding your decisions and actions, ensuring that every effort is aligned with your broader vision. Effective goal setting in property management also allows for measurable progress. It enables property managers to track performance against specific benchmarks, making it easier to identify areas that need improvement or adjustment. This process of continual assessment and adaptation is key in an industry that is constantly influenced by market trends, regulatory changes, and evolving tenant expectations. Moreover, well-defined goals can motivate and unite your team. They provide a sense of direction and purpose, fostering a proactive work culture where every team member understands their role in achieving the company's objectives. This collective effort not only drives the company forward but also contributes to a more rewarding and engaging work environment. In essence, goal setting is not just about envisioning a successful future for your property management business; it's about creating a structured approach to make that vision a reality. It's a vital tool for navigating the complexities of the industry and securing a competitive edge in the market.

December 2, 2024

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