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Introducing Group Rate Internet from Second Nature

At Second Nature, we strive to deliver the best possible experience to residents and property managers alike. We’re always looking for new opportunities to help property managers provide better service, grow their businesses, and give residents homes they want to stay in. Now, with the introduction of Group Rate Internet, we’re able to deliver yet another benefit that residents want, while improving the experience for property managers. What is Group Rate Internet? Group Rate Internet is gigabit-speed˙ internet delivered directly to single-family rental homes, incorporated right into your lease. Thanks to the power of our network, Second Nature has negotiated group rates with some of the nation’s largest internet service providers, and we’re passing the savings on to you. Residents get high speed internet at a discounted rate below what they could get on their ownº, while property managers have a new way to grow their business. Why are we doing this? These days, internet service is a necessity. But until now the process has been time-consuming, frustrating, and expensive. Subscribers face complicated setup and cancellation processes, and when they need to reach customer support, they’re often left on hold. We wanted to bring a better experience to residents and modernize the way they receive internet service. Understanding the single-family market 98% of residents across the United States pay for internet service in their homes. But until now, they’ve struggled with inflexible contracts that don’t align with their lease terms, convoluted phone trees, and expensive hidden fees. Most single-family property managers haven't had the ability to negotiate better rates with ISPs, leaving residents to pay retail prices for essential services. That's where Second Nature comes in. By leveraging our nationwide network, we're able to secure group rate pricing that's lower than what's available on the market—giving property managers a new way to offer high-quality, affordable internet without the headaches of individual negotiations. Difficulties of scattered-site Internet coverage areas can be confusing. When you have properties in multiple areas, they may be serviced by different providers, making it even more difficult to negotiate a one-size-fits-all deal. That’s why Second Nature works with multiple major ISPs to provide maximum coverage, no matter how wide your management area is. Cutting costs and making life easier On average, customers typically pay $80-120 per month for gig-speed internet. Plus they get hit with fees for equipment, setup, early termination, and more. Now, with Second Nature, property managers can provide gig-speed internet, with no installation or cancellation fees, at a fraction of the price that residents are already paying. How does the program work? Like all of the pieces in our Resident Benefits Package, we’ve designed Group Rate Internet to be as easy as possible. From data exchanges to support, we fully manage the process so your teams don’t have any extra work. Integration with property accounting systems to check eligibility Second Nature starts by gathering property details directly from your property accounting system (PAS) to automatically confirm which ISPs serve each property. We confirm eligibility and pass that data back into your PAS, so it’s always available to you. Once a property is marked as eligible in the PAS, you’ll be able to include an internet service addendum in any future leases for that property. Billing operates directly through the PAS, with no extra tools or logins to keep track of. Integrated with the lease cycle When a resident signs a lease that contains the Group Rate Internet Lease Addendum, they’re enrolled into the program, and Second Nature works directly with them to complete setup. We’ll reach out directly to residents to make sure they know how to get set up. If necessary, they’ll schedule professional installation for equipment at a time that’s convenient for them. Because there’s no separate internet contract for the resident, there are also no setup, equipmentª, or cancellation fees, and no struggling to align their utility contract with their lease term. Internet is billed right alongside rent, so residents don’t have an extra monthly bill to manage. Dedicated support We all know the pain of waiting in a phone queue to try to solve a technical issue. That’s why Second Nature offers dedicated phone support for residents using Group Rate Internet. That way residents aren’t calling you for help or getting stuck in phone trees with their ISP. Residents call Second Nature directly, and if they need technical support from their ISP, we can make a warm handoff, making sure they’re on the line with a representative before our team leaves the call. No endless transfers from person to person. Easy transition at turnover When a lease is up and a resident decides to move out, Second Nature provides move-out information to residents. Depending on the ISP, the resident may not even have to return equipment. In most cases, it just stays with the unit, and service is turned off until the next resident moves in and a new lease starts. When a new resident moves in, one phone call is all they need to get their gig-speed service up and running. It’s a simple transition when someone else moves in, all managed by Second Nature. Get started Want to see how you can provide gig-speed internet to your residents? Schedule a demo with a member of our team to walk through Group Rate Internet. ˙ Compared to average nationwide gig speed price of $80-120/mo (source: USA Today) º Up to 1 Gig Internet speed, subject to availability. Internet Service powered by Second Nature is provided through Second Nature's preferred third-party Internet service providers. ª Residents may be subject to fees if equipment is damaged, lost, or stolen.

Calendar icon March 19, 2025

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How Service Tiers and Taking on Risk Shaped our Proven Process

Not too long ago, the hot new thing in property management was offering different service tiers, where the more a client paid, the more they got in their management package. I decided to give it a try, and through the process I learned a lot about myself and how I wanted to run my business. The thing is, I didn’t want to build any kind of “less than” tier. In my view, if something is good for clients, it should be included in every plan that I offer. Otherwise, I’m just delivering some clients sub-par services. That got me thinking about how I wanted to build out my different service levels, how I wanted to structure my business, and how to build a proven process that could allow me to step outside of my role as an executor to become more strategic. Assuming risk with a “gold plan” Because I didn’t want to offer a package that I didn’t think lived up to my values and my brand, I ultimately decided not to go with a good/better/best structure. Instead, I kept my standard management package and added what I called a Gold Plan. The Gold Plan was built to offer all the same services as my standard package, but it also came with some pretty hefty guarantees. Basically, if you paid for Gold and you had losses, property damages, or unpaid rent because of a resident, we would cover that expense. The program was completely self-funded and self-insured, so the buck stopped with me. On its face, this seemed like a pretty big risk for my business. Assuming financial responsibility for so many different things was a gamble, and plenty of people told me I was just asking for trouble. But the thing is, I knew my business, and I had the data to back it up. When I took a deep look at my company’s performance, it turned out I was losing less than 1% of receipts to bad debt, so the risk factor was actually very low compared to the additional management fees I was collecting with the Gold Plan. Risk mitigation as a service One of the biggest reasons that I chose to develop the Gold Plan wasn’t just because I felt that we could increase profit margins. Risk mitigation is actually of tremendous value to our investors. By building it into our go-to-market strategy as a defined service, it helped us better communicate that value. Differentiating your property management business is really difficult. Most clients are so detached from the daily workings of property management that they don’t even know what to ask about. We have to do a lot of work just to educate them on what it is that we do, never mind all the value-adding activities they never see. By packaging risk assumption as a unique product, it helped us better articulate our value and present a clearer go-to-market message. Developing a proven process What I didn’t foresee when I built out the Gold Plan and took on some of this risk was how my own role within the company would evolve. As we continued to grow, I had fewer direct touch points with my clients, and things became a little bit less predictable. Working on my business, not in my business It’s a story a lot of property managers can tell you: when you’re small you know every single client, but when you reach a certain level and you hire more staff, you’re less involved in the day-to-day and focused more on business strategy. The problem in my case was that I had built a Gold Plan based on the idea that I could personally oversee the risk levels of all my clients and all of their properties. When I shifted into a more strategic role, that became increasingly difficult. I no longer had eyes on every single interaction or every property inspection. I hired business development managers to bring on new clients, and suddenly I wasn’t intimately involved in every deal that came in. I realized that I needed to design a company that let me keep a handle on risk, and that’s when I developed our proven process. Creating a need for a proven process The proven process started with a few simple questions about making the company more efficient and keeping us out of crisis mode: How do we make sure that properties stay stable? How can we identify risk before it becomes a problem? How can we get properties back on track to a stabilized status? We started by identifying what kinds of things actually indicated “risk”. What behaviors were indicators that there might be a growing problem? Things like: Code violations in a property Resident disputes (with us or with each other) Unpaid or consistently late rent We started flagging every one of those behaviors as soon as it happened so that we could monitor and stabilize those properties. That quickly developed into an hour-long, weekly meeting where my staff reported out any red flags they were seeing, and then the whole property management team discussed ways to address them. I joined that meeting and basically role-played the world’s worst client, pressure testing every solution we proposed until we were confident in our go-forward plan. That one hour a week let me keep my finger on the pulse of every potential problem across our portfolio without having to be deeply involved with every single resident every single day, and allowed me the time and space I needed to make strategic decisions about the business. It also let me see the inner workings of how my team was confronting problems, and gave me more confidence than ever that they were doing the right thing. Moving beyond the Gold Plan Ultimately, after a few years, I made the difficult choice to sunset our Gold Plan. While it was a great program for us, it didn’t come without challenges. When I was acting as a BDM and directly involved in every single deal, I had a natural intuition for which clients I should sell Gold Plan to. Once I hired other BDMs, they didn’t have that same instinct, and, as a result, we started selling Gold Plan to accounts that weren’t a great fit for it. And those accounts started costing me. The Gold Plan was successful while it lasted. I didn’t get wiped out by any disasters, and I did make a profit. But the potential future risk to my business meant that, as a leader, I had to protect myself and my staff, and quit while I was ahead. I’m still looking at ways to relaunch a similar plan, this time supported by a third party insurer. In the meantime, I’m still utilizing the proven process that we developed, and it’s still incredibly effective in helping me manage clients, residents, and staff without having to be constantly in the trenches. If that were the only result to come out of the Gold Plan, it would be 100% worth it. I learned a lot, and I’m glad I took a chance. Final thoughts To me, there are a few lessons that any property manager should take from this experiment. Be deliberate about how you build service packages. You should put very clear, specific thought into how to build service packages that work for your business. Don’t just think about how profitable they’ll be or how well they’ll sell, but consider how they’ll change your team structure, the way you work with your staff, and what will be required of you as a business leader. Make your service levels scalable. As your company grows, your role will continue to evolve. You can’t be directly involved with every client, and you need to trust your team. Make sure you’re offering management packages that allow you to do that. Use service tiers to communicate your value. The various packages that you offer to investors can be a fantastic tool to help show exactly what it is that you do. You don’t want clients wondering what they’re getting in exchange for their management fees. Client education never ends, so embed it into your process. Don’t be afraid to pivot. You should always be thoughtful when you try new things. I had data to justify the Gold Plan. I didn’t just start selling it on a whim. But as things changed, I realized it was no longer right for my company. Don’t be afraid to change things if they’re no longer working. Everyone’s business is different, and every business leader takes their own approach. But with each business decision you make, you should always be on the lookout for ways to improve the processes around it. If you want to hear more about how I approach my company and my property management philosophy, listen to my recent episode of the Triple Win Podcast.

Calendar icon July 3, 2025

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How to Write a Property Management Proposal

Having a strong property management proposal at the ready is key to closing deals and bringing on new clients. But what many property managers don’t consider is that the proposal goes far beyond that. In many ways, it sets the tone for how your whole professional relationship will be conducted. A well-structured, carefully crafted proposal sets clear expectations for your client-to-be, illustrates your company’s professionalism, and builds trust in your ability to execute. That’s why we’ve put together this property management proposal template that you can use to take your pitch to the next level. What is a property management proposal? A property management proposal is a document used in the sales process to outline the key terms of the property management agreement, your management fees, the contract duration, insurance provisions, obligations, termination conditions, and more. It’s a simple, straightforward way to give your potential client all the details they need to make the decision to hire you. A strong proposal document is essential for every property management company looking to expand their portfolio. It’s a key tool in the sales cycle when trying to close deals with new investors, and can also be useful if you’re looking at acquiring or being acquired by another management company. For many single-family property management companies, the proposal also includes information on why clients should hire professional management services in general, rather than trying to self-manage. What to include in a property management proposal A property management proposal should include all of the information that a potential client needs to make an informed decision. That includes information about your company, your team, your policies, and the contractual agreement you’re entering into. Here are some of the key areas you should be sure to include: Cover letter or proposal introduction Your proposal should open with a short, friendly cover letter introducing yourself and your company. This section should summarize the purpose of the proposal and outline its contents, while also highlighting key value that you provide or differentiators for your company. Just like a cover letter you write when applying for a job, this section should highlight why you feel you’re a particularly good fit for this client. We recommend customizing at least part of the cover letter for the specific investor you’re pitching to, highlighting why their company in particular would benefit from your services. About your company This section should highlight the key points about your company, but don’t write too much here. The client isn’t interested in knowing every single detail of your history, but you should convey some key points that will help build trust: Who you are How large your portfolio is today How long you’ve been in business Your mission statement Your company’s core values Meet the team This is your opportunity to call out key staff, especially those that this client will be working closely with. Add headshots to make it feel personal, and include short bios and job titles. Where applicable, include certifications that your team has and the length of their industry experience. Your approach to property management This section is sometimes folded into the section about your company, but it doesn’t hurt to call it out separately, especially if you have a unique process, mindset, or methodology. Write a few sentences about how you manage properties, like your approach to communication, your commitment to transparency, or how you leverage technology. This not only helps differentiate you from your competitors, but also establishes what the client should expect from you moving forward. Scope of services This section gets a little bit more technical, and typically includes a comprehensive list of services that your company will provide: Marketing properties Resident screening Leasing Preventative maintenance Responsive maintenance Rent collection Customer service (including availability hours and whether you have a 24/7 service line) Renters insurance management Make it very clear to the client what you offer (and what you don’t). Budget and pricing breakdown Next you’ll want to outline your expense structure, including whether you charge a flat management fee, a percentage-based fee, or a combination of the two. Include standard fees and optional add-ons that you offer. If you have multiple plan tiers, this is the place to outline them, including a personalized recommendation for the client based on their property or properties. Legal and insurance Now it’s time to get deeper into the details. This section is where you want to outline your approach to compliance and how you stay on top of landlord/tenant laws. Include details on how you mitigate risk and liability, and how that benefits property owners. This is also a great area to highlight your property insurance and renters insurance requirements, with a focus on how you enforce compliance. Property portfolio You always want to tell great customer stories in your proposal. Be sure to showcase two or three properties that you currently manage, especially if they’ve undergone significant transformation or you’ve increased the property value well. Try to curate this section to match the portfolio of the prospective client. For example, if they own a mix of residential and commercial properties, or a mix of multi-family and single-family homes, make sure the proposal is representative of that. You should also include overall statistics about the number of properties you manage, what geographies you serve, and what types of properties they are. Client references or testimonials Be sure to highlight current clients who are happy with you, especially if they’re willing to serve as references. This should go without saying, but always make sure you have explicit permission before listing someone as a reference or having a prospective client contact them. This section can also include testimonial quotes, online reviews, or links to case studies. If you have video case studies, include screenshots with a link to watch the full video. If you’re delivering your proposal as a website or slide deck, you may even be able to embed video clips directly in the proposal. Optional add-ons that can set you apart Remember, the whole purpose of the proposal is to try to close the deal with a new client, so don’t hold back if you have unique value propositions that differentiate you. Include a dedicated section on unique services that investors may not find elsewhere. Sustainability initiatives If your company takes a sustainable approach to property management, be sure to describe it. You may use eco-friendly vendors for maintenance, landscaping, or pest control. You may also offer green upgrades like smart thermostats or clean energy utility providers. Include those here to stand out. Resident benefits packages Resident benefits packages are a great way to stand out. If you offer an RBP like Second Nature’s, outline the various benefits that are included. Be sure to focus on how these add value for the property owner, including increasing resident satisfaction and retention. Make sure that the client understands the impacts of the experience economy and why it’s important to deliver the best possible resident experience as a property manager. Tips for making your property management proposal stand out If your prospective client is doing their due diligence, they’re probably receiving proposals from multiple PMCs. You need a clean, well-constructed proposal that’s going to stand out from the crowd. Use a clean, easy-to-scan layout Use bullet points, white space, and clear headings that can help the reader quickly navigate and understand the content. Where relevant, consider adding imagery, charts, and graphs to highlight key points. Tailor every proposal You want your proposal to be anything but generic. If a client feels that you’re just handing them the same proposal you give to everyone, they’re going to be less than impressed. Make sure that the proposal you’re putting in front of them is customized to their company, property type, and pain points so that they feel personally catered to. Keep it short, but substantial Don’t overwhelm your clients with too much information. Include enough to inform them without becoming burdensome. We typically find four to six pages to be the right length for most property owners to digest. Offer a next step Make sure that your proposal ends with a clear call to action. Depending on where in the sales process you are, this might be to: Schedule a call Sign the agreement Request more information Schedule a time to visit the property You can also follow up on your proposal with a courteous, professional email. Your goal is to keep the conversation going without making the investor feel like you’re demanding a response. Give them an opportunity to ask questions while also reinforcing your value. Make your proposal work harder with Second Nature Remember, a professional, detailed property management proposal will help you win better clients and grow your business. Want to enhance your company’s offering? Second Nature’s Resident Benefits Package can help you deliver more value to owners and residents alike while also growing your business. Join our upcoming RBP Workshop to learn more about RBPs and hear from actual property managers about how they’ve worked with clients to implement new benefits.

Calendar icon July 1, 2025

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Calculating your Max Customer Acquisition Cost as a Property Manager

Sales and marketing is a tough expense to swallow for most small businesses owners. That’s why it’s important to have a target customer acquisition cost (CAC), which will help you keep your go-to-market spending at a level that drives success while still allowing your business to be profitable. It will also give you data-backed confidence in your spending, knowing that it’s driving results. There are some basic economic principles that I think all property management business leaders should be applying in order to calculate their maximum customer acquisition cost. In this article, I’ll walk you through what customer acquisition cost is, how it relates to new present value, why it’s helpful to think of sales and marketing costs in terms of future profits, and how to increase your max CAC to help grow your business. Defining max CAC Customer acquisition cost (CAC) is the total amount of investment it takes to bring a new client under management. It’s a calculation of all of the marketing and sales expenses you need to put out in order to bring each new customer in. CAC is particularly useful in determining the success of your marketing efforts. Your max CAC is the highest amount you can profitably invest in new client acquisition. While CAC is just a measure of what’s currently happening, max CAC is the highest number that you’re able to spend while covering costs and getting a return on capital. If you exceed that max CAC, it’s time to pump the brakes a bit and reevaluate. Do you know your CAC? It’s my strong belief that property management company owners frequently underestimate how much they can profitably spend to acquire new clients. In fact, I suspect that most property managers don’t even know what they are spending to bring in new doors. Most property managers, even if they were willing to be completely open and candid with you, would not have a great sense of how much money they spend to bring in new customers. Many probably have no idea at all. If I had to guess, I suspect most would probably tell you that they just want to spend as little as possible. The most business-savvy might take their total marketing budget and divide it by the number of new contracts they sign each year, just to get a rough estimate. At the end of the day, it’s basically just a gut feeling or, at best, some fuzzy math. I think for many PMs, not having a max CAC stems from not having the data that contributes to it. For example, if you don’t know your lifetime revenue from new clients—and the lifetime margin for each property—how can you possibly calculate the amount of money you can spend to generate that revenue? Understanding net present value in business I’m of the strong opinion that we can and should be using an economic concept called net present value (NPV) to calculate out the maximum amount we should be paying any individual new client. Net present value is a discounted look at what you should be willing to spend to get a return. NPV recognizes a basic truth: a dollar today is worth more than a dollar tomorrow, thanks to inflation. When businesses evaluate investments, they use NPV to compare the value of spending money now against the future returns that spending will generate. For example, a $10,000 contract paid out over the next five years is worth significantly less than a contract where all $10,000 is paid in full up front. That’s because in five years, when the final payment is made, that $2,000 installment will have less buying power. Net present value is the equivalent value today of that $10,000, five-year contract. Max CAC as the net present value of future profits This concept is particularly relevant in property management, where upfront client acquisition costs generate revenue streams that can last for years. Using net present value to understand your maximum CAC is a bit unconventional, but it’s actually very revealing, especially for those property managers who don’t currently have a good sense of their CAC. Basically, your maximum CAC should be the net present value of the revenue from an average account. There are a few things you’ll need to know before trying to calculate NPV, though. First of all, you need to be confident in your churn rate and lifetime value (including value broken out for each year) in order to do these calculations. If you calculate that you can spend $1,000 per client, but then your churn rate increases, suddenly you’ve overpaid for a contract that’s not going to earn back the money. Measuring return on capital Property management is a relatively mature market, and in mature markets, businesses look at profits in terms of return on capital. Just as the property owners we work for have capital that they’re looking for a return on, we as business owners also have capital in our businesses that we should be looking for a return on. As a business owner, you should set a goal for the return on capital of your business. For many businesses, this tends to fall in the 15-20% range. That’s the profit margin you want to achieve, and you’re going to factor that profit in when you start calculating your max CAC. Calculating NPV for property management Once you understand the components of NPV, calculating it actually isn’t too complicated. For a business like property management, it can be pretty straightforward. I think it’s helpful to look at an example to really illustrate the math here. Let’s look at an example Let's say your company generates $1,300 in annual profit per door, and clients typically stay with you for four years (25% churn rate). If you want a 20% return on your investment (your discount rate), you'll calculate the present value of each year's revenue stream as follows: For Year 1: $1,300 ÷ 1.20 = $1,083 For Year 2: $1,300 ÷ 1.44 = $903 For Year 3: $1,300 ÷ 1.728 = $752 For Year 4: $1,300 ÷ 2.074 = $627 The sum of these discounted values ($3,365) represents the maximum you could spend today to acquire a client while still achieving your target 20% return (on the cost of acquisition). That number might strike you as very high, and you wouldn’t be alone. When you actually do the math, max CAC is typically much higher than what most property managers intuitively believe they can spend on client acquisition. Think of this calculation as your "money machine" calibration. Your property management business is your money machine, and you're essentially determining how much you can put into one side of the machine (client acquisition) to get your desired return out the other side (future profits). Understanding your max CAC through NPV analysis transforms marketing from a cost center into a strategic investment vehicle. That’s why it’s so important to do these calculations; it gives you the confidence to invest in sales and marketing, knowing that you’re going to see a return in the future. Growing your max CAC The more profitable your business is, the more you can afford to spend on customer acquisition. The most direct way to increase max CAC, then, is to increase profitability through as many avenues as possible. With tools like Second Nature, and especially their new Group Rate Internet benefit, you can increase profitability, which will in turn have a huge impact on your max CAC. Suddenly you can not only spend more on marketing, but you can beat out your competition and close more deals. This turns into a kind of flywheel effect, whereby more doors yields higher profitability, which yields more room to increase your CAC, which yields more doors. Interested in learning more about how a Resident Benefits Package can help you generate more revenue? Register for an RBP workshop today and hear from real Second Nature customers.

Calendar icon June 26, 2025

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Creating a Property Management Monthly Report to Owner Template

The relationship between property manager and investor can be a delicate one. Property owners want to know what’s going on with their investments, but property managers often work with enough clients that it’s not practical to field phone calls and email from each and every owner asking for details and updates. That’s where having a property management monthly report to owner template comes in. Providing a standardized monthly report to each of your investor clients is vitally important, not only because it saves time you’d otherwise spend answering phone calls, but also because it helps set expectations with clients. By templatizing your reporting, you’ll have more time to put into other areas of your business, while also creating happier, more confident clients. So what exactly needs to be in a monthly owner report? Let’s take a look. Key sections of a property management monthly report to owner template Property owners often have high expectations when they trust you with their assets. Your goal with a monthly report is to provide all the information they need to feel confident in your services and help them be successful in their real estate investment business. Here are some of the key elements you should consider including: Income and expense statement The income and expenses statement is a comprehensive financial report that details total income for the month, as well as monthly expenses. Both income and expenses should be broken out so that the owner can clearly understand the sources of each. For example, income might be broken down into: Rent Services Fees Amenities Expenses may be broken down into: Maintenance Utilities Property taxes Insurance This section of the report should help your owners better understand the cash flow of their property, as well as its profitability. Owner statement The owner statement should summarize owner payouts, property income, and reserve funds. This is different from the income and expense statement because it includes more information on the owner’s overall financial position and their reserve funds. Typically, that means it includes a beginning balance and end balance. It will also compare current reserve funds to any reserve targets that you’ve set with the client. For clients with multiple properties under management, the owner statement typically includes a breakdown for each property, as well as a summary page that consolidates them. Account ledger The account ledger, also sometimes referred to as the rent ledger or income ledger, shows a detailed record of all financial transactions related to the property. This is typically more detailed than the income and expense statement, and provides details for each and every transaction, including: Transaction date Amount of the transaction Category of the transaction Running total of the balance for each property Most property accounting softwares can export account ledger reports in a matter of seconds, making this one of the easier parts of a monthly report to generate. Occupancy and tenant turnover Your occupancy and turnover report should include: Current occupancy rates: the portion of units rented vs the portion vacant Resident turnover: how many leases have ended or been renewed Turnover time: how long it takes to fill a vacant unit Insights into leasing performance and stability Turnovers and occupancy are two of the biggest concerns for owners, who lose out on potential income for every day that a unit sits empty. Use this section to show how well your company handles vacancies and how quickly you can fill them in order to help prove value to your clients. Property description and condition The property description and condition section should highlight any significant changes, issues, or updates. For example, if you’ve recently performed maintenance, this section can highlight whether there have been any continuing problems or whether the issue is fully resolved. You can also include a summary of any recent inspection reports in this section. The goal here is to reinforce the property status and help your clients track the condition of their assets over time. Maintenance and repairs The maintenance and repairs section should highlight any completed work orders, as well as pending maintenance issues, along with a timeline of when they’ll be addressed. This section is particularly useful for helping owners better understand not just the condition of the property, but also the amount of work that goes into keeping it stabilized. Even seemingly small maintenance items should go on this list, because it also helps identify what items are recurring and might need further attention in the future. Monthly property management report best practices Now that you know what kind of information should be included in your monthly report to owners, let’s look at a few best practices you should be following. Use a standardized report format You should always use a standardized template for your reports, both month-to-month and across owners. By standardizing the process, it makes it much easier for your team to quickly assemble reports in a repeatable manner, rather than changing things up every month. Customizing reports for each individual client is one of the fastest ways to create complications and delays, so resist the urge to accommodate every single owner request in their reports. Establish a reporting cadence Make sure that you’re consistent with how often you’re sending these reports to your owners. It will help them better know what to expect, and it will also allow you and your owners to compare reports period over period. Having a fair comparison, rather than comparing apples to oranges, can help identify trends and adjust your behavior accordingly. Many property management companies send out owner reports monthly. If you’re just getting started, you can also consider quarterly or bi-monthly reports, and then work your way up to a monthly cadence as you build that muscle. Illustrate data with charts and graphs No one wants to try to make sense of a report that’s packed full of numbers but no visuals. Visualizing your data, especially occupancy rates, income breakdowns, and expense breakdowns, can help your owners more quickly understand where things stand, even just at a glance. Charts and graphs don’t only help your investors, they also help your staff. When a single property manager is responsible for tens or hundreds of doors, it’s important for them to be able to scan a large number of documents and look for any outliers, red flags, or items that need attention. Common mistakes in property management owner reports Building owner reports can seem pretty straightforward when you have the right tools at hand, but be wary of a few potential pitfalls and mistakes property managers often make. Financial mistakes One of the most consequential mistakes you can make is overlooking financial errors. With so many different tasks to handle, people do make mistakes inputting numbers. Monthly reporting is a great time to take a second look, see if anything doesn’t pass the eye test, and dig deeper to make any necessary corrections. Some key financial errors that are often made in reporting include: Failing to track an expense or income stream properly Failing to account for delayed rent collection Inaccurately recording owner payouts Failing to compare actuals to budgets or forecasts Some of these errors happen during the reporting process and can be quickly corrected, while others happen in your property accounting software and will need to be addressed there before you run reports. Communication and documentation issues The other major area where we see a lot of property managers slip up is in documenting and communicating data clearly. For many, owner reports are disorganized, unclear, vague, or difficult to read. For example, property condition, which is less cut and dry than something like a balance sheet, needs to be described clearly and specifically so that owners know exactly what is going on. Don’t describe the condition of a home as “aging,” “dated,” or “dingy.” Instead, be very specific about what items need to be updated, like carpeting, fixtures, or appliances. Outline clear recommendations like maintenance, cleaning, or updates. Reports also need to be comprehensive, meaning that they need to include as much available data as possible. Omitting data, even if unintentionally, can paint an inaccurate picture of the situation with a property, which can in turn create panic or tension with an owner. Finally, don’t forget to listen to and incorporate owner feedback where possible. As we outlined earlier, trying to customize reports for each individual owner can be a slippery slope that ends up taking up far too much time. That said, there are ways to collect feedback from multiple owners and incorporate the most popular suggestions in your template. Survey owners on how useful they find their reports and what you can add or remove to make them more effective. When you do make changes, make them for all owners, not just those who spoke up in their survey responses. Save more time with Second Nature If you’re looking to streamline your operations and save time, templated reporting isn’t the only way. Second Nature’s Resident Benefits Package can also save property management companies time and overhead by automating administrative tasks like pest control and renters insurance tracking Ready to learn how? Join our next RBP Workshop to hear from real property managers.

Calendar icon June 24, 2025

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Kristin Johnson Founder & CEO of TripleTie

Property Management Accounting Software: 10 Platforms to Try

Property management accounting is a specialized branch of accounting that deals specifically with the financial management of rental properties. Property management accounting software helps property managers track rent payments, manage expenses, handle tenant deposits, and produce financial reports. Managing single-family rental properties can be a daunting task, especially when it comes to accounting and finance management. Understanding property management accounting, as well as the best property management accounting software to support it, can make this task significantly easier. In this article, we're talking to a property management accounting expert. We'll delve into the best property management accounting software available in 2025, and we'll help you choose the right software that fits your property management needs. We'll also address frequently asked questions about property management accounting software, including aspects like ease of use, integrations, pricing, and support. What to know about property management accounting software In general, property management accounting software serves to alleviate the time and effort that might be required to manage finances manually. It can also help plan for expenses, foresee any revenue issues, and make better-informed financial decisions. And perhaps most importantly, it helps property managers stay in compliance with requirements around tax calculations and reporting. Note that there are two key components of property management accounting in real estate: corporate and trust accounting. Corporate accounting involves the financial transactions and record keeping of the property management company itself and is generally the same kind of accounting you'd do with any business or corporation. This might include the company's operational expenses, income, taxes, payroll, etc. Trust accounting, on the other hand, is unique. It concerns the financial management of real estate investors' funds held by the property management company. This can include tenant rent payments, security deposits, and funds reserved for property maintenance or repairs. It's crucial to keep these funds separate and accurately tracked to comply with legal requirements and maintain transparency with property owners. Because of the unique nature of bookkeeping with trust accounting – and its relevance for property managers – we're mostly focusing today on trust accounting, or software that can manage both corporate and trust accounting. Meet the expert: Kristin Johnson, Founder & CEO of Bynnd Kristin Johnson founded and leads the property management accounting solution Bynnd, which is designed to help property management companies manage and conduct accurate trust accounting. Related: Best Single Family Property Management Software Best property management accounting software Let's go over some of the best property management accounting software in 2025. After that, we'll also share an extensive FAQ that we had with Johnson about the ins and outs of property management accounting. Before diving into our list, we asked Johnson about her experience using property management software and which platforms we should include. “Having the ability to work within one system is huge,” she says. “Rather than having to parse out, for example, I do my screening over here, and I do my maintenance over here. Instead, you have it all integrated and built-in, and the system talks well with itself. You're not having to import and export so much data. That's crucial.” She gives an example of a time when she was using a platform that didn't have that capability. “When we were working in New Mexico, we had to charge sales tax on services. So our management fees, our RBP, all of those things had to have sales tax added onto them. Our software at the time didn't have a function built where I could say, ‘This item is taxable, and this is the tax rate.' I had to manually create recurring bills on every single one of those fees. And then, every year, when the state updated the sales tax rate, I had to go and update thousands of recurring bills. It was a nightmare!” So, as we go through the list, keep in mind that different software has various degrees of customization, open APIs, etc. Cost is a big consideration, but looking for an all-in-one is also important. 1. Rentvine Johnson's top recommendation for accounting software is Rentvine. “Rentvine is really dialed in on trust accounting,” Johnson says. “There's no need for a lot of the workarounds that we see in some of the other trust accounting providers. At its core, it's a true trust accounting platform, and then the beauty and usability are built on top of that piece.” Rentvine is deeply customizable for property management tools and needs, with the ability to build your unique owner statements, custom management fees, custom late fees, etc. “The other thing I love about Rentvine is that it does have an open API,” Johnson says. “So if you did want to integrate with an external property maintenance company, for example, you can get a seamless integration through the API.” Pros: User-friendly design with an intuitive dashboard that simplifies property management and accounting tasks. Rentvine's accounting system is robust and includes automatic rent collection, workflows, real-time expense tracking, and detailed financial reporting. Features like online resident portals, CRM, maintenance management, and built-in messaging make resident communication more streamlined. Cons: Some users have noted that the mobile app doesn't have all the features the desktop version offers. While RentVine offers excellent features, the platform may be more expensive compared to other property accounting options, especially for smaller property portfolios. 2. AppFolio AppFolio is an extremely popular property management platform that works well for both residential and commercial property management. It has a modern and intuitive interface but can be pricey with add-ons and complex to use. What we like about AppFolio is the reporting ability, property management automation (late fees, smart bill entry, etc.), utility management features, etc. The drawbacks include the price and, as Johnson points out, it's not as customizable as she would want for an accounting piece. However, if you're willing to use a few workarounds and you like AppFolio for the other key features, it does have a solid accounting platform. Pros: AppFolio provides a comprehensive suite of property management tools that include automated invoicing, ACH and online payments, financial reporting, and bank reconciliation. It offers a CRM with excellent resident and owner portals for transparent communication, key metrics, and easy access to financial data. AppFolio supports both corporate and trust accounting, which is important for regulatory compliance. Cons: AppFolio is not as customizable as other software options and may require workarounds. While AppFolio is feature-rich, it has a steeper learning curve which may be challenging for less tech-savvy users. Pricing is based on a per-unit model, which could make it expensive for managers with a smaller number of properties. 3. Buildium Buildium is a comprehensive property management software designed to simplify all facets of property management, including robust accounting features. It provides seamless handling of all property-related transactions, from tracking rent payments and vendor bills to handling maintenance costs and fees. The software also supports both corporate and trust accounting, ensuring legal compliance and transparency. Pros: User-friendly interface with a strong emphasis on accounting. Automatic bank reconciliation, making it easy to manage multiple bank accounts. Robust reporting, including balance sheets, cash flow, and income statements. Cons: The learning curve can be steep for those new to property management software. Advanced key features may require premium plans, which could be costly for small businesses. 4. Yardi Breeze Yardi Breeze is a cloud-based property management software ideal for smaller-scale PMCs. The platform offers a robust suite of tools, including strong property management accounting capabilities. Pros: Yardi Breeze provides in-depth financial reporting and all the necessary accounting features you’d expect in a purpose-built solution, from tracking rent collection and expenses to generating financial statements. It has a user-friendly interface and offers automated invoice processing and bank reconciliation, simplifying accounting tasks. Like others, Yardi offers support for corporate and trust accounting. Cons: The software is feature-rich, which may result in a steep learning curve for those unfamiliar with property management software. Some users have reported that customer service response times can be slow. Its comprehensive features come at a higher price point compared to other options in the market, which may be a barrier for smaller businesses. 5. Hemlane Hemlane is a cloud-based property management solution designed for small to midsize businesses, with a focus on facilitating the relationship between property owners and managers, residents, and service professionals. Pros: Hemlane's accounting features are comprehensive, providing the ability to track expenses, automate rent collection, and generate financial reports. With corporate and trust accounting support, PMs can maintain compliance and transparency. User-friendly and intuitive interface, which is a big plus for those new to property management software. Cons: While it has a good range of features, some users report that it lacks the depth of more comprehensive management systems. Some users have reported occasional system slowdowns and bugs. Limited customer support hours can make it challenging for businesses that operate outside of these times. 6. TenantCloud TenantCloud is a cloud-based property management software solution suitable for landlords and property managers of all sizes. It offers a wide array of features, including a dedicated accounting module. Pros: Industry-standard accounting functionality allows users to track profits and expenses, send invoices, collect online payments, and generate financial reports. Its intuitive interface and ease of use are especially appealing for those new to property management software. TenantCloud provides flexibility and easier legal compliance with both corporate and trust accounting. Cons: Some users report that the system can be slow and occasionally glitchy. While its basic property management features are on a free plan, advanced accounting functionalities come with paid plans, which might be a drawback for small businesses. Some users have reported that the customer service could be more responsive and supportive. 7. Rent Manager Rent Manager is a versatile property management software solution that provides a wealth of features tailored to PMs, including accounting. Pros: Rent Manager users can track revenue and expenses, automate invoicing and payment processing, and produce detailed financial reports. The software offers both corporate and trust accounting, ensuring compliance and providing transparent financial management. Rent Manager's open API allows for integration with numerous other property management tools, making it a flexible choice. Cons: Some users find Rent Manager's extensive features a bit overwhelming, leading to a steeper learning curve. The cost can be high for small businesses or those with fewer units, as pricing is based on the number of units managed. While Rent Manager offers comprehensive support, there are some reports of slower response times. 8. Propertyware Propertyware is a cloud-based, end-to-end property management software that offers a range of features, including a strong accounting suite. They offer custom fields and automation for PMs, real estate investors, and residents. Pros: Propertyware's accounting module is quite comprehensive, allowing users to track revenue and expenses, handle online payments, and generate detailed and customized financial reports. It includes options for trust accounting and corporate accounting. It includes an “owner portal” and maintenance request management features. Cons: The initial setup can be complex to get right, and there can be a steep learning curve for those new to property management software. The pricing is not ideal for smaller PMCs with fewer than 250 rental properties. 9. Rentec Direct Rentec Direct is a web-based property management software designed for “landlords” and property managers, offering a wide variety of features, including an extensive accounting system. Pros: Rentec Direct's accounting tools provide capabilities for tracking income and expenses, automating rent collection, and producing in-depth financial reports. Like other solutions, Rentec allows property managers to operate under either trust accounting or corporate accounting. Features like owner portals, work order management, tenant screening, and SMS services. Cons: The product and interface are older and less intuitive than others on the market. The reporting feature, while robust, may require some time to understand and use effectively. Some users have reported that the system can be slow at times, particularly during peak usage hours. 10. DoorLoop DoorLoop is a property management software designed to streamline the management process for property managers with all sizes of portfolios. It comes with a robust accounting suite, among other features. Pros: Property managers can use DoorLoop for all their accounting tasks, including income and expense tracking, rent collection, and financial reporting. It offers both corporate and trust accounting. The software has a user-friendly interface, making it an attractive choice for users with varying levels of tech proficiency. Cons: While DoorLoop offers many features, it may take some time to get used to all of its capabilities, and it is less customizable than other options. Some users have reported occasional system slowdowns and bugs. The cost could be high for those managing a smaller number of properties as the pricing is based on the number of units managed. Honorable Mentions The list above is not intended to be exhaustive, but we did want to make a brief mention of a few other property management software applications that incorporate some accounting features: RealPage: RealPage provides a technology platform rather than a software application per se, with the aim of enabling “real estate owners and managers to change how people experience and use rental space." ResMan: ResMan’s tagline reads, “ResMan's industry-leading property management platform helps multifamily and affordable housing managers operate more efficiently and deliver higher rates of return to investors.” Entrata: Entrata operates with the tagline, “The operating system built to help you focus on residents, not technology.” A note on other accounting software While this article focuses on software tailored to property management accounting, it's worth mentioning general accounting solutions like QuickBooks Online. QuickBooks, a well-known accounting software, is versatile and can be effectively used in a variety of industries, including residential property management. It offers robust features like tracking income and expenses, invoicing, and generating detailed financial reports. However, because it's not specifically designed for property management, it may lack specialized features like tenant and lease tracking or lease management, maintenance requests, or property-specific reporting. That's why it didn't make our main list, but for some property managers, especially those managing a small number of units, it might serve their needs adequately. FAQ: Property management accounting As part of our conversation with Kristin Johnson, we asked some of the biggest burning questions property managers have asked us about property management accounting. What accounting should I use for property management business? Kristin Johnson: The type of account property managers need is a true trust account – which very few banks actually offer. Many local banks or even big ones like Chase and Wells Fargo will give you a checking account and then label it a trust account. That is NOT a trust account. In normal bank accounts, you have $250K of FDIC insurance. A trust account has FDIC insurance per owner that has funds in the account. So they each have $250K of FDIC insurance. The only bank that I'm positive offers true trust accounts is Enterprise. How should you report rent in property management accounting? Kristin Johnson: If a resident pays early, it's considered prepaid rent. It needs to stay booked as prepaid rent until it gets actually booked against the rent charge, and only then should the funds be made available to the owner. I know that some property managers use it to pay bills. But technically, it's a liability until it's actually earned, so it should not be used to pay bills, and it should not be distributed to the owner. Those are funds that belong to the renters until there's an actual rent charge booked against them. That's piece number one to understand. Then, getting to the end-of-year side of it, the IRS does lay out that prepaid rent is taxable in the year that it is collected. So it should be reported as part of the 1099 income. What is the purpose of clearing accounts in property management? Kristin Johnson: The clearing account really serves as an intermediary while the security deposit funds are essentially in transit. When we're getting ready to move out a tenant, those funds get released from the holding account, and it goes into the clearing account where we are booking, say, cleaning against it or whatever move-out charges need to go against it before we do a final distribution to the tenant. So it's just kind of a quick intermediary place where it sits very temporarily before the security deposit gets released and then distributed. What should be the frequency of record keeping in property management? Kristin Johnson: “Money in should be accounted for immediately as received. States will usually dictate how quickly receipts have to be deposited, but our recommendation is that they always get deposited the same day with the bank or as soon as practical thereafter. As far as record-keeping to the owner goes, most states actually mandate that at least monthly reporting happens to the owner. Certainly, in trust accounting, record keeping should be looked at daily, weekly, and monthly to make sure that it's staying in line. Soft reconciliation should be happening at least weekly, if not daily, to ensure that all of the money is fully accounted for and that you're not going to have any issues when you're closing out the end of the month. How much should a property management company spend on accounting? Kristin Johnson: Accounting is one thing in property management that you don't want to skimp on. The most important function of a property manager is to be a good steward of other people's money. I don't know that there's a range, but I will say that it very well may end up being your largest expense. But worth the money. Choose the right property management tools The software you choose for property management accounting can significantly streamline your operations and contribute to the growth and success of your business. Each option has its strengths and potential drawbacks, so it's vital to select a solution that fits your unique needs and portfolio size. By equipping yourself with the right property management tools, you can streamline your accounting processes, ensure accuracy and compliance, and ultimately, drive your property management business toward greater success. If you want to get more input on your property management software, check out our Triple Win PM Community on Facebook. Or, if you’re ready to get started, schedule a demo to learn more about our Resident Benefits Package.

Calendar icon June 20, 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.

Calendar icon June 19, 2025

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The Complete Guide to Automated Rent Collection for Property Managers

Automated rent collection is a system that enables residents to pay rent online via digital and electronic means such as online portals, direct debit, ACH, direct deposit bank transfers, or debit card or credit card payments. This approach streamlines the rent collection process, saves valuable time, and reduces human errors associated with manual rent collection and payment reminders. It also offers residents a secure, convenient rent payment experience, improving both satisfaction and retention. In this guide, we'll cover: The top online rent payment systems for property managers Best practices to automate rent collection Step-by-step implementation strategies Today's Expert: Wolfgang Croskey, Founder & President of How’s My Rental What is automated rent collection? Automated rent collection leverages single-family property management software to streamline the process of receiving rent payments from residents. While traditionally rent collection might involve paper checks or manual online payments, automated rent collection automates these steps, alleviating the issue of late rent payments. Residents can schedule recurring payments or make one-time payments (or partial payments) electronically through the software, covering not only rent but also any monthly fees like utilities, pet rent, or parking. The software automatically debits the designated bank account on the due date, eliminating the need for manual processing and the potential for missed payments or late fees. Common challenges in manual rent collection Before diving into automation, it’s important to understand the inefficiencies and frustrations property managers often face with manual rent collection. While traditional methods like paper checks, cash payments, or manual bank transfers have long been standard, they come with a host of problems that can negatively impact operations and relationships between landlords and tenants. Here are five of the most common. 1. Time-consuming and labor-intensive Manually collecting rent often means making phone calls, sending reminders, processing checks, and reconciling accounts by hand. This not only takes up valuable time but also diverts attention from other critical responsibilities like maintenance coordination, inspections, and leasing. 2. Late or missed payments Without automation, residents are more likely to forget their due dates or delay payments, especially if they have to take extra steps like mailing a check or logging into a bank account. This creates inconsistent cash flow and forces property managers to spend time chasing down payments. 3. Risk of human error Manually entering and managing payment records increases the chance of errors—whether it’s misplacing a check, entering incorrect payment data, or losing track of who has paid and who hasn’t. These mistakes can lead to financial discrepancies, resident disputes, and even compliance issues. 4. Lack of transparency When payment records are scattered or incomplete, it becomes difficult to maintain clear financial documentation. This lack of transparency can affect everything from owner reporting to tax preparation and financial forecasting. 5. Strained PM-resident relationships No one enjoys awkward conversations about money. When tenants fall behind and managers have to follow up manually, it can strain relationships and lead to negative resident experiences. Automating the process, including sending automatic reminders, helps depersonalize the transaction and maintain a more professional dynamic. Key features to look for in automated rent collection tools With so many rent collection platforms available, choosing the right one can feel overwhelming. To make an informed decision, it’s essential to evaluate each solution based on the features that truly support efficiency, accuracy, and a better resident experience. Here are the must-have capabilities property managers should look for: 1. Recurring payment scheduling Residents should be able to set up automatic monthly payments with ease. This reduces the risk of late payments and improves cash flow consistency. 2. Tenant notification and reminder systems Automated alerts, such as upcoming rent due dates, payment confirmations, or failed payment notices, keep both residents and property managers informed and accountable. 3. Integration with accounting software The ability to sync with platforms like QuickBooks or property management accounting systems can eliminate redundant data entry and reduce financial errors, and simplify tracking income across your portfolio. 4. Mobile app accessibility Residents increasingly prefer mobile-first experiences. A tool that allows them to pay rent, receive alerts, and access their payment history from their smartphone enhances convenience and satisfaction. 5. Secure payment processing Look for platforms that offer bank-level encryption and PCI-compliant systems to protect sensitive financial information for both residents and property managers. 6. Tenant credit reporting capabilities Some platforms allow managers to report on-time rent payments, including credit card payments, to credit bureaus. This can be a valuable incentive for residents and a selling point for Resident Benefits Packages. Best automated rent collection apps for property managers 1. Second Nature At Second Nature, our focus is on improving the lives of both residents and property managers. That's why we've designed solutions aimed at adding value and alleviating rent collection challenges for all parties involved. With our Resident Benefits Package, we offer a range of features designed to encourage timely rental payments and assist residents in bolstering their credit, safeguarding their identity, and maintaining financial stability. Learn more now 2. AppFolio AppFolio is a cloud-based property management software that offers online rent collection, security deposit, tenant screening, property inspections, and accounting/bookkeeping software features. AppFolio's pricing structure is tiered, with the specific cost depending on the number of units you manage and the features you require. Learn more about AppFolio 3. Buildium Buildium is a property management platform that provides a range of features, including online rent payments, payment processing, resident communication, maintenance tracking, and financial reporting. While Buildium does not publicly disclose specific pricing information, its website indicates pricing is based on the number of units you manage.. Learn more about Buildium 4. Avail Avail is a cloud-based rent collection tool that allows PMs to automate rent, send rent reminders, track payments, and manage rental properties. The pricing for Avail depends on the number of units you manage, with increased discounts for larger portfolios. Learn more about Avail 5. Rentec Direct Rentec Direct is a software platform for property managers that offers features such as online rent payments, tenant screening, lease tracking, and maintenance management. Rentex Direct pricing scales with the number of units you manage, with economies of scale for larger portfolios. Learn more about Rentec Direct 6. Rentvine Rentvine is a cloud-based property management accounting solution that offers interactive portals, maintenance coordination, online rent collection, electronic lease signing, and more. A relative newcomer to the property management technology space, Rentvine is focused on providing an easy-to-use, customizable interface for both residents and property managers. Rentvine includes all features regardless of pricing tier, adjusting pricing based on your unit count. Pricing starts at $199 per month and Rentvine offers a three month free trial. Learn more about Rentvine 7. DoorLoop DoorLoop is a cloud-based solution designed to cater to a variety of property types, including single-family homes and multi-tenant buildings. It offers tools to streamline property management tasks, including marketing and leasing units, screening and managing residents, processing rent payments and managing leases, tracking maintenance requests and coordinating repairs, and generating financial reports for property owners. Pricing is tiered based on the features you require. Learn more about DoorLoop 8. YardiBreeze Yardi Breeze is a cloud-based solution offered by Yardi, a venerable company in the real estate and property management industry. The software offers features designed to streamline tasks typically encountered by landlords or property managers, including marketing and leasing vacant properties, screening and managing residents, processing rent payments and rental applications electronically, tracking maintenance requests and repairs, and generating financial reports for owners and real estate investors. For quotes, contact Yardi Breeze directly. Learn more about YardiBreeze 9. RentRedi RentRedi is a mobile-first property management software that allows landlords to collect rent payments online, screen tenants, and manage maintenance requests through a user-friendly app. RentRedi’s pricing structure is subscription-based and ranges from $12/month (paid annually) to 29.95/month (pay-as-you-go). Learn more about RentRedi Benefits of automated online rent collection Rent collection software offers a variety of benefits that are specific to SFR property management companies. After all, the impact of reducing workload and saving time adds up, especially when you need to devote so much of your energy to operations across a dispersed area. Here's a closer look at the advantages: Reduced workload and time savings Automating rent collection eliminates the need to chase individual payments, freeing up time for tasks that can be time-consuming, such as inspections or maintenance coordination. Fewer late payments With on-time automated payments, rental income (and therefore cash flow) becomes more predictable. This allows for better financial planning and budgeting for property maintenance, repairs, or unexpected expenses. Simplified accounting and record-keeping For property managers, autopay eliminates the need for manual rent collection processes and reduces the risk of late notifications or missed payments. Rent collection features also help streamline accounting processes by providing accurate and up-to-date records of rent payments and other business transactions. And of course, recurring payments can be set up to occur automatically, saving property managers time and reducing the need for follow-up with tenants. No more existential dread around rent time! Reduced risk of errors Manual processing of checks or cash can be error-prone. Automatic rent collection minimizes the risk of human error in recording payments, ensuring accurate financial records and avoiding potential miscommunications or disputes. Improved security Automated rent collection platforms typically use secure payment processing systems to safeguard sensitive financial information. This provides peace of mind for property managers and residents alike, as their payment data is protected from unauthorized access or fraud during online transactions. Potential for scalability Even for smaller companies managing a few properties, automated rent collection lays a foundation for a more efficient system. As your portfolio grows, the automation remains in place, simplifying rent collection regardless of the number of properties you manage. In fact, Wolfgang Croskey says automation can level the playing field. “Technology is the great equalizer,” he says. “It allows us to compete with these nationwide companies and to provide not only the same level of service but to be able to pivot and adapt much quicker than those larger companies can. So for me, you're a smaller company, AI and Automation Tech is that equalizer that's going to allow you to shine just as well as these larger companies.” Related: 12 Tasks for Property Management Automation Enhanced resident communication and satisfaction For residents, recurring rent payments provide a convenient and hassle-free way to pay rent on time every month. It eliminates the need to remember to make a payment, reducing the risk of late fees and improving their credit score by building a consistent payment history. Property managers who are reporting rent payments to credit bureaus (such as TransUnion) as part of a Resident Benefits Package can use this as a massive incentive for residents to automate payments. Additionally, tenants can set up recurring payment options using their preferred payment method, making it easy and flexible for them to manage their finances. The other component of improving the resident experience is offering mobile app-based automatic payment methods. That’s why allowing residents to pay rent with Apple Pay or Google Pay is gaining popularity across the property management industry. Zelle is another payment service that can help with ACH payments without transaction fees. PayPal and Venmo are other mobile payment platforms. With these mobile payment apps, renters can pay their rent using their mobile devices. It’s a win for residents because they can easily make automatic payments on the go using their smartphones without the need for a physical wallet or a business day visit to a bank or property management office. Additionally, these mobile payment methods are highly secure, as they use biometric authentication to ensure the transaction is authorized by the account owner, minimizing the risk of fraud and identity theft. It’s important to note that some property management companies have experienced the rare but profoundly irritating (and costly) phenomenon of chargeback claims in relation to rental payments made by credit card. If you’re in the market for software that supports automated rent payments, this is an important issue that you should raise with the sales representative. Tips for successful adoption Even the best rent collection software isn’t plug-and-play. Implementation can come with speed bumps, especially when transitioning residents or staff from manual systems. Here’s how to avoid common pitfalls and ensure a smooth rollout of your automated rent collection process. 1. Anticipate and address resident hesitation Not all residents will be eager to switch from checks or manual transfers to an automated system. Be ready to communicate the benefits clearly—like convenience, reduced late fees, and potential credit-building—and provide step-by-step guidance for setup. Some managers offer small incentives (like gift cards or waived fees) to encourage adoption. 2. Validate resident data before launch Ensure that resident names, bank details, lease terms, and payment schedules are entered correctly into the software before enabling automation. A few minutes of verification upfront can prevent hours of frustration later on. 3. Offer training and support resources While most modern rent collection tools are user-friendly, not every resident or staff member is tech-savvy. Provide tutorials, FAQ sheets, or one-on-one assistance during the initial rollout. A smooth onboarding experience increases trust and usage. 4. Monitor payment activity closely at first Keep a close eye on payments during the first one to two billing cycles. Look for missed transactions, failed payments, or incorrect amounts, and address them immediately. Early intervention helps prevent long-term issues. 5. Prepare a backup process Even with automation, things can occasionally go wrong. A resident’s bank account may change, or a software update could cause a glitch. Have a manual backup process ready (such as an alternate payment portal or temporary paper payment option) to keep operations running without disruption. Use Second Nature to automate rent collection At Second Nature, our mission is to create a Triple Win for residents, property owners, and property managers, adding value and reducing headaches for everyone involved. Our Resident Benefits Package provides services that incentivize on-time rent payments and support residents in building credit, protecting their identity, and remaining financially sound. Ready to streamline rent collection and get automatic rent payments? Contact us today to schedule a free demo!

Calendar icon June 16, 2025

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A PM’s Guide to Real Estate Investment Networking

Networking can feel a bit daunting, especially if you think it means wearing a nametag and chatting with strangers over bad appetizers. But the truth is, networking isn’t just about going to mixers. You can build and strengthen your professional network in one-on-one Zooms, referral groups, or even entirely online through social media. It’s all about building relationships, sharing your knowledge, and learning from others—in whatever way actually works for you. A strong network can have a massive impact on your business growth and your reputation. It gives you access to other people’s knowledge, resources, and experience, which is invaluable—especially in property management. In this article, I’ll walk you through how I approach networking and the real, bottom-line benefits of getting in front of other PMs, investors, and real estate pros. The importance of real estate investment networking as a PM Property management is a wild ride. You’re solving weird problems every day, juggling personalities, and trying to keep properties performing. Doing that in a vacuum? Brutal. Connecting with other PMs and investors gives you solutions and support when you need it. This business is built on relationships. You’re constantly talking with residents, investors, vendors, even municipal officials—the list never ends. Every connection you build is a chance to grow. People do business with those they know, like, and trust. That trust comes from showing up, staying in touch, and adding value before you ask for anything in return. Networking helps you meet potential clients, sure. But it also keeps your name in circulation and your reputation strong. How to master real estate investment networking as a PM Some forms of networking might feel uncomfortable at first, but you won’t know what works for you until you try it. Eventually, you’ll find your rhythm, and enjoy it. Thanks to technology, there’s a flavor of networking for everyone. Here are some of my go-to tips for effective networking: 1. Build your online reputation Even though I’m a face-to-face kind of person, I’ve put serious energy into building my brand online. That’s one of the big reasons I created Hold It with PM Jen. Online networking isn’t about blasting random LinkedIn connections or shouting into the void. It’s about real interaction—commenting, sharing, reacting. Be human. Tell stories. Let people see who you are. Post regularly: You don’t need to be groundbreaking. Just share your take on trends, recent experiences, or industry news. Make sure you’re adding value. Don’t show up to the potluck with paper plates. Bring something good. Be consistent: Keep your tone and message aligned. Don’t chase controversy for clicks. Engage: Comment, react, say congrats. You can even disagree—just keep it respectful. That’s how community grows. Try engaging publicly and following it up with a connection request or direct message. This is a great way to build a connection with someone you want to know. 2. Cultivate authentic, long-term relationships Whether it’s online or in-person, relationships need follow-up. I love grabbing coffee or lunch with new connections (and yes, I pick up the tab). A $25 lunch can turn into a years-long referral source. That’s a solid return. Not ready for lunch? Invite them to a local event or meetup. Even better—make it easy with a Calendly link. That will allow you to quickly and easily establish a call or zoom with a new contact and allow you to build that relationship. Make it easy to get to know you! That kind of effort stands out and fosters trust. 3. Give before you get Most people come to networking wondering what they’ll get out of it. Flip that. Ask what you can give. That mindset changes everything. Share insights, connect people, recommend a book or podcast—just be helpful. One of the best moves you can make? Introduce folks who can help each other. You just became valuable to both of them. And hey—people love to talk about themselves. Ask questions. Let them share. It’s how you break past the boring surface stuff and get to the good conversations. If you are able to help, this gives you something to follow up about. You can call them and ask how the referral went, or did your contact follow up with them? That kind of concern and attention is what people are looking for in people they work with. 4. Track your contacts and interactions Confession: I’m not great at this one. But it matters. Follow-up is everything, and your CRM (or even a basic spreadsheet) can help you keep track. Set reminders to check in with folks, especially the ones who don’t live on social media. Life gets busy, but your network is like a garden. You must water it, weed it, and tend to it or it will die. It won’t take long either. Ever left a town or industry? How long did it take before you didn’t speak to most of the people there? Staying visible to your network means staying relevant. 5. Track your progress and refine your strategy Don’t just network blindly—track what’s working. Set simple KPIs. How many leads came from referrals? How many new connections turned into real clients? How much revenue did they bring in? When you know what’s effective, you can double down on it and cut what’s not. When you get more efficient at networking, and stay consistent, the strength of the network grows exponentially. Where to network with real estate investors as a PM To connect with investors, you have to think like one. Where are they hanging out? What are they trying to learn? oin real estate associations and groups: I’m a huge NARPM fan. Their conferences, webinars, and resources are gold. If there’s a local chapter, get involved. If not, join the At Large Chapter. I have found amazing networking through service to this organization. Write an article for the website, serve on a committee, or attend an event if it’s within your budget. It’s a great place to meet other property managers and learn from them. Even if you don’t have an active real estate association in your area, you can still find industry events to attend. There are plenty across the country. Some of them focus more on professional development and learning, while others are designed to help you meet vendors and solution providers. Almost all of them will include some kind of dedicated networking time, so they can serve multiple purposes. Not every area is buzzing with activity. I’m in rural Pennsylvania, so I started my own real estate investor group. I booked speakers and mailed invites. You can also travel to bigger markets nearby to expand your circle. I’ll often travel to events in Pittsburgh, Philadelphia, and Baltimore, just to meet a wider variety of people. Get involved in your community: Not all investors spend their free time at real estate events. Many are just regular people running businesses and raising a family. Go where they go—Chamber events, fundraisers, entrepreneurial groups. Be visible, be helpful, and you’ll be remembered. I try to stay very involved in my community, especially things like Chamber of Commerce events. Small business development groups and entrepreneurial networking groups are both extremely valuable, in part because many members are also real estate investors. You can also look at more charitable work. I combine philanthropy with networking events, have worked with The Junior Leagues, and served on fundraiser events committees. Even if the people you meet there aren’t real estate investors (yet!), they may know someone who is. When you are working together with others, you build a great relationship that will be there for years. Make networking part of your everyday life Networking doesn’t have to be a single, defined thing that only happens in certain places. If you make it part of your everyday life, it starts to feel a lot less intimidating. I already mentioned how making connections on LinkedIn can change the game, but the same applies in real life. Whether you make a friend at the gym or you bump into someone at the grocery store, they’re a potential connection. Plus, when you’re already networking every day, it makes it a whole lot easier to get up on stage in a speaking slot, or to volunteer to help with an event or organization. You just have to flex that muscle until it feels natural. Providing value is the key to networking success No matter where or how you meet someone—online or off—lead with value. Ask what you can give, not what you can take. When you are able to provide value, do it well and follow through. Your actions speak louder than your words and you want your actions to let others know who you are and how you move through the world. Cultivate your reputation with generous and good work. Lead with what you can give, not what you can get, and you’ll start to form authentic, lasting connections. Your network is your net worth. Invest accordingly. If you’re looking to offer more value to your clients, consider Second Nature’s Resident Benefits Package. Request a demo today

Calendar icon June 12, 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.

Calendar icon 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.

Calendar icon 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.

Calendar icon 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.

Calendar icon June 9, 2025

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

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

Calendar icon June 5, 2025

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5 Valuable Property Management Courses, Workshops, and Certifications

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

Calendar icon June 3, 2025

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How to Find Real Estate Investors for Your PM Business

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

Calendar icon June 3, 2025

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Four Qualities Every Property Management Leader Needs to Have

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

Calendar icon May 29, 2025

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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

Calendar icon May 20, 2025

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

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

Calendar icon May 19, 2025

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Why Investor Education is my Go-to-Market Strategy

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

Calendar icon May 15, 2025

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