
New Ownership And A New Direction
PropertyManagement.com has undergone a transformation into a trusted resource for property managers, emphasizing verification and credibility over tra...
Insights, tips, and industry news for property managers and real estate investors
Showing 7 posts
PropertyManagement.com has undergone a transformation into a trusted resource for property managers, emphasizing verification and credibility over tra...
Many property managers are overpaying for software that doesn't meet their needs. New AI tools like Replit allow non-technical users to create custom solutions without ongoing fees. This shift enables businesses to build tailored tools for operations, KPI tracking, and workflows, reclaiming control over their software and improving efficiency. The article emphasizes the importance of adapting technology to fit specific business requirements rather than settling for generic solutions.
Trust is becoming essential for ranking in property management, as clients increasingly rely on verified performance and third-party validation rather than self-reported metrics. The future of client acquisition will focus on credibility and transparency, with successful firms being those that are publicly verified and objectively scored. Property managers should prioritize building trust through metrics visibility and engagement in trusted networks to remain competitive in a data-driven market.
To reduce owner churn and boost revenue, property managers should proactively communicate their value through regular updates and performance metrics. Implementing a retention audit, sending value recap emails, and establishing a risk scorecard can help identify at-risk clients. Additionally, introducing a preventative maintenance service can enhance owner loyalty and generate significant recurring revenue, with documented services reinforcing the value provided. Trust and consistent communication are essential for retaining clients in property management.
Property managers are increasingly seen as asset managers, providing strategic advice to clients on investment decisions. Key actions include building a rent ROI calculator, running hold vs. sell scenarios, and sending portfolio snapshots to enhance client trust and engagement. Emphasizing data and advisory roles can lead to better investment outcomes for clients and strengthen relationships.
Elite property managers maximize ROI and client retention by pricing new leases at 100-101.5% of market rent, renewing at 95-97%, minimizing days without revenue, offering transparent pricing, maintaining proactive communication, and tracking key performance metrics. These practices help manage expectations and risks effectively while enhancing overall performance.
Property owners are increasingly using AI search engines to find property managers, requiring managers to adapt their online presence. Key strategies include creating structured listings, adding FAQ pages, specifying service areas, and obtaining detailed reviews. AI prioritizes clear, organized data, making it essential for property managers to present accurate and specific information to remain competitive.
Get the latest tips, strategies, and industry news delivered to your inbox