We sat down with Founder/CEO of PM Profit Coach, Daniel Craig to dive into the details of profitability.
Daniel has worked with clients to increase their profitability into, or well beyond 25% profitability. For reference, the industry average is 6% profitability.
The session outlines:
- Why profit margins are typically so low, and how to rise above the average.
- 6 "Do or Die" metrics to be measuring in your business.
- Where to find and how to work with the NARPM accounting standards.
Daniel is also giving away a FREE forecasting tool to make 2021 your most profitable year in business. Details are at the end of the session.
To view the video version of this session with visual slides, click here.
Want more on profitability? Download our white paper detailing actionable items to implement in your 2021 strategy here.
Have you ever wished there was more of you? We sat down with Anne & Mark Lackey, Owners of Hiresmart Virtual Employees to discuss how they started their company based off their own needs as broker/owner property managers.
They started Hiresmart to solve 3 main problems:
- Owner Overwhelm
- Staff Turnover
- Poor Customer Service & Follow Up.
Anne & Mark discuss the best practices for hiring for maximum efficiency and minimal turnover, as well as the importance of a thorough recruitment process.
We sat down with Martynas Fedotovas, owner of Equity Nest - a social media agency focused on helping real estate professionals and property managers grow and scale their business through brand and social media marketing.
With social media marketing taking a larger spotlight in the new normal, we talked with Martynas about how property managers can be utilizing social media to ramp up their brand, increase deal flow, and become authorities in their space.
Tune in to hear how an expert in the space defines success in social media marketing, which channels are trending in the space, and what kind of approach can lead to success.
Property condition reports that remove the bias and include essentials you may not have thought of can be a pain to navigate and run diligently. Tune into our session to learn the essentials of:
- Move In/Move Out Reports
- Periodic Condition Reports
- Acquisition Reports
Learn why you need them and how you can offload them to the team at OnSightPros.
Marc Cunningham dives into a handful of the 25 proven income streams for your PM business included in his online course.
Head to https://www.propertymanagementsystem.org/income-streams to access the course and get 25% off the course using the code: "latchel" at checkout. Discount is valid until the end of October 2020.
A few of the topics in the podcast are...
- How to create and run a profitable maintenance oversight process & why it's better than doing in-house maintenance.
- How to increase your management fee with existing owners and have them be happy about it.
- How to profit from creating a Resident Benefit Package.
Tune in for our conversation with Second Nature CEO Thad Tarkington. We go over how Second Nature's subscription based air filter delivery service works for PMs and how it can help increase revenue per unit.
We also talk through the rise in popularity of resident benefit packages and the best way to implement them. You can visit residentbenefitpackage.com to get in touch with Second Nature's team.
Have you ever wanted to make your property management systems and experience as "easy as Amazon"?
Our co-founder/COO Will Gordon, and Operations Director, Jennifer Pascon, both worked at Amazon prior to Latchel. They've pulled a lot of the operational concepts from Amazon into the maintenance sector of Property Management.
We wanted to share exactly how they've done that and how you can do it too in your own business.
Download the workbook here.
** This episode was originally published as a live webinar - Head to our YouTube channel to view the video version with the slide decks included.
We sat down with PointCentral CEO, Sean Miller, to discuss the latest in smart home tech, how to get your owners on board with the investment, and what property managers need to know about the future of smart home tech.
Point Central provides smart home solutions that enable vacation rental and residential property managers to remotely control energy and access to ALL their properties from their desktop or mobile device to help PMs:
- Increase Operational Efficiency: eliminate the hassle and time spent on key management by eliminating physical keys and being able to control access remotely.
- Attract Residents: Provide residents with pre-installed and ready-to-go smart home technology, allowing them to control their homes with one single app.
- Lower Maintenance Costs: Reduce costs associated with key management and prevent costly maintenance projects through increased property awareness and real-time alerts.
Navigating the vendor marketplace can get a bit overwhelming sometimes. So we'll be sitting down with Property Management coach Kathleen Richards to dive into the details of finding your preferred maintenance vendors and how that can be a game changer for your business.
Tune in to get rich industry insight from a professional who is:
- A former Broker/Owner of a two-time award winning Property Management Company
- A National Instructor for NARPM
- A nationally recognized speaker, instructor, author, and thought leader on business, organizational/leadership development, and culture specifically in the PM field.
And, of course the owner of PM Made Easy :) Head to her website to get a free downloadable vendor agreement template!
Note: Apologies for any brief audio hiccups in this episode. This podcast was recorded in the height of the fires in Northern CA when cell towers were weak enough to effect the quality of the recording. But, Kathleen's energy makes up for it :)
When it comes to sharpening your competitive edge in a large market, there's no better man to discuss this with than Bob Preston, President of North County Property Group in San Diego.
- North County Property Group has been named a Top Property Management company in San Diego by the San Diego Business Journal for the past 5 years in a row.
- Their average Google rating is 4.8/5 stars which is incredible in this industry.
- And Bob also runs his own podcast called Property Management Brainstorm
So if you like what you hear from Bob today, check out his podcast as well.
