Picture this: One of your tenants is making dinner and accidentally starts a small grease fire in the kitchen. No one gets hurt, but wading through the homeowner’s insurance claim, the tenant’s security deposit, and all the paperwork and red tape is completely overwhelming. IS there an easier way to deal with tenant mishaps?
Brad Larson, CEO of Larson Property Management and a key player at the National Property Management Network has a solution. Learn how tenant liability insurance protects the homeowner, the tenant, and the property management team and how to begin implementing it in your business!
[3:00] What is tenant liability insurance?
[4:45] How tenant liability insurance protects the homeowner, the tenant, and the property management team
[6:45] Making a revenue by mandating insurance
[7:50] The legality of tenant liability insurance
[12:15] Opt-in rates and conversion rates for renewals
[15:10] How tenant liability insurance saves property managers time
[17:35] Frequently asked questions
[19:10] Admin fees
[20:25] Is there any reason why a property manager wouldn’t want to implement this insurance?
[22:40] Implementing peace of mind and using insurance as a marketing tool
[25:30] The difference between renter’s insurance and tenant liability insurance
The Single-family-home property managers are way behind the times. We’re playing catch up.
Prioritize what you want to implement. Do what’s easy and what will make you money first.
Why do we at DoorGrow do what we do? In this episode you’ll hear an interview with Sterling Davis, a property manager who saw his 60 door business grow to 300 doors in just six months after investing in our Seed Package.
[3:00] How Sterling Davis first got into contact with DoorGrow and why
[5:40] “If you’re serious, you’ll pay it”: Why investing in his business motivated Sterling
[9:30] Creating a brand to sell with the right tools
[12:45] The results Sterling achieved in his first 6 months
[13:25] Portfolio and monthly revenue breakdown
[16:30] Life after the Seed Package: Marriage, business, and finances
[18:15] What would business be like without the Seed package?
[19:15] Sterling’s thoughts on the value of following the Seed Package and getting used to being uncomfortable
[23:50] Breaking down what’s included in the Seed Package and what benefits you can expect from following it
I’m not here to be a property manager. I’m here to get my doors up and make money.
Successful Coachable Mindset: You’re the coach, I’m the player, let’s do this.
How can you expect anyone to value your business and invest in it, if you’re not willing to?
Our goal isn’t just to make money from people. We’re in the business of making a difference.
Are you serious about growing your property management business? Check out our Seed Package, the ultimate foundation for property management growth.
Most property managers are DIY landlords– they have a whole other career besides renting out properties. For the DIY landlord, there can be an overwhelming amount of things to keep track of: Tenants, maintenance services, billing and accounting, and sales. How can we end the disconnect? Enter TenantCloud, a free property management software revolutionizing the way DIY landlords do business.
In this episode we’re talking with co-founder Joe Edgard about TenantCloud is going to completely disrupt the property management software world. Learn how TenantCloud works, the philosophy behind the services they offer, and why the company is one to watch in the next year!
[2:25] Why every property manager needs TenantCloud
[4:30] How free software can be just as profitable as paid software
[6:05] Identifying (and solving) the pain points of DIY Landlords
[9:10] Syncing TenantCloud accounting with Quickbooks
[10:32] How TenantCloud plans to surpass the other property management softwares on the market
[16:30] Pricing and launching for enterprise and consumer customers
[19:38] What à la carte services TenantCloud offers
[24:15] How TenantCloud is an end-to-end solution for DIY landlords
[26:50] Does TenantClould make professional property managers obsolete?
[29:10] Talking about the competition: Cozy
[33:40] Beta testing and focus groups for TenantCloud
TenantCloud allow you to show a property to a prospect virtually from your desk.
We’re thinking big when we talk about disrupting the property management software world.
Everybody wants customization. If you think you’ve got one solution for everyone, you’re wrong.
Rekeying locks on your properties, after the tenant leaves, can get tedious and expensive, inspiring too many property managers to skip the rekeying process entirely, opening themselves up to an uncomfortable amount of liability. Enter Prempoint: A comprehensive messaging, access control, and automation software that allows property managers to manage and grant access to their properties remotely.
In this episode we're chatting with Matt Hartley co-founder and CEO of Prempoint about the newest technology in property management-keyless access. You'll learn what the Prempoint technology is, how it works, and why you absolutely can't run your business without it!
[2:20] All about Matt Hartley’s background and his work with Prempoint
[4:40] The evolution of Prempoint as a company and their mission
[7:35] What Prempoint is and why you absolutely need it for your properties
[11:05] The interaction between tenants and Prempoint
[13:25] How affordable is Prempoint?
[16:00] Subscribing to Prempoint "points"
[18:15] Discussing security concerns with Prempoint
[22:25] How keyless access can build (or destroy) trust with your tenant
[26:35] Being software agnostic: Why Prempoint outdoes the Rently competition
[30:10] Software integrations
[31:45] Why Matt Hartley doesn't worry about copycats
[34:20] Are you in danger of being automated out of your job?
[37:00] Understanding the devices and technology that Prempoint requires
[40:20] Does Prempoint replace Sentrilock for relators that double as property managers?
[44:35] Prempoint's launch date for managers with 1000s of doors
[49:55] Benefits of keyless access for tenants
[57:10] More from Matt Hartley
[58:30] Connecting with the Home app on iPhone
If you’ve ever used Facebook, then you can definitely use Prempoint
Prempoint is a software company. We are hardware agnostic
Want to talk to Matt personally? Send him an email: matthew.hartley@prempoint.com
How do you handle customers who never stop asking for a discount on your services? Learn how Darren Hunter, international property manager trainer and consultant, gracefully manages clients who ask for a reduction in fees and services.
In this dynamic conversation we outline specific scripts and techniques you can use when haggling with clients, reasons why you shouldn't take on every client, and how to build trust between you and a client without smearing your competition.
[4:00] Why a property manager is not like a printing press: Avoiding discounts on multiple properties
[6:30] Having confidence in your value to your client
[8:28] "The Lure of the Main Game": Techniques for when a client wants to price match your management fees
[19:10] How to handle other property managers pricing themselves too low
[23:00] Who are C-Class owners?
[26:00] Making a filter for bad clients
[28:20] Scripts and techniques for dissuading landlords and vendors from asking for discounts
[33:45] The benefits of having different price points for buyers
[37:35] What to say when clients ask for a "small and simple" 1% discount
[45:35] Why you can't afford to take on every client
[54:00] The cycle of suck
[56:30] A final script for battling property manager comparisons
[58:00] Building trust by revealing the "dirty secrets" of your industry
[1:01:30] Why studying Australian property management is interesting for Americans
If you believe you’re worth it, your client will believe it too
A C-class landlord is like a packet of cigarettes. They'll take years off your life
You cannot afford to take on people that cannot afford you
Influence by Dr. Robert Cialdini
“11 Wrong Property Types That You Should Not Manage” article by Darren Hunter
The Pumpkin Plan by Mike Michalowicz
Want more from Darren Hunter? Visit his website, connect with him on Facebook, or check out his resource library.
Learn how Noel Christopher, Senior Vice President of National Business Development at Renters Warehouse, has mastered the art of buying and selling property management businesses.
In this interview with Noel Christopher, you'll learn what big box companies look for when scoping out new properties to purchase, how to property value your company and portfolio, making your business attractive to buyers, and how to find the best buyers for your company.
[2:15] Noel Christopher’s background in commercial real estate
[3:25] Renters Warehouse
[6:05] The most common mistakes buyers make when acquiring a new company
[7:50] How to account for and deal with churn
[9:45] Is churn inevitable?
[11:00] The dangers of closing too quickly and not doing your due diligence
[12:40] How to evaluate a portfolio
[16:40] Creating a plan for taking over a company
[18:00] The biggest mistakes sellers make
[21:45] How to create a business that other people want to buy
[24:00] Utilizing a company’s current employees when you take over
[26:55] Creating an incentive for a business owner to transition into an employee
[30:00] Working with brokerages and accidental property managers
[33:00] Identifying the two types of acquisitions: Companies versus contracts
[35:10] Is Renters Warehouse flat fee pricing applicable everywhere?
[38:00] Finding people that are willing to sell
[40:15] Letting go of the all or nothing approach
[41:40] Should you use a non-compete?
[42:35] How Renters Warehouse structures their transactions
[44:44] Do you need a middleman to handle the deal between two companies?
When you buy a portfolio, you're married to the seller for a little while.
The biggest mistake a seller can make is overvaluing their company.
For people looking to buy a property management company, a great target audience are the brokerages that are accidental property managers.
It's not about the lowest price, it's about the quality of service.
Want more from Noel Christopher? Send him an email at noelc@renterswarehouse.com or connect with him on LinkedIn.
Learn how Daniel Madison,CEO of 4M Property Solutions, a residential property management company uses the techniques he mastered as a corporate sales manager to cold call For Rent by Owner prospects and close the deal.
In this interview with Daniel Madison, you'll learn why cold calling is an essential tool for property managers, how to get over the fear of getting told no, and what to say in your conversations with your prospects.
[01:15] Why is cold calling important?
[03:00] How Daniel got his first 50 doors with 4M Property Solutions
[04:13] Identifying the pain points of for-rent-by-owner prospects
[05:10] Why picking up the phone and calling people is the best way to generate revenue
[06:48] Daniel's fool-proof script for cold calling prospects
[09:06] The best way to get over the fear of interrupting someone
[10:30] How to overcome the biggest challenge in cold calling: Finding a source of information
[13:00] Ideas for types of questions to ask your prospect to identify their challenges
[17:30] The importance of giving value to your prospects
[17:19] They personalize the details of your maintenance call-handling with you
[19:08] Daniel's number-one goal when cold calling a prospect
[21:38] Getting into the groove of cold calling
[22:13] Why you should create (and stick to) a follow-up process for your clients
[24:17] Techniques for keeping track of A-grade tenants
[27:07] Advice and tips for new property managers
[28:20] Lessons learned from hearing "no"
[30:34] How to inspire your team to have the right attitude for cold calling
[32:55] Power phrases to know and use
[36:40] Convincing a DIY- landlord that they need your services
[41:30] Getting started in cold calling
The quickest, easiest way to generate revenue is to pick up the phone and call people.
We all start on the level of suck.
If you're not challenged in sales then you're not going to get better at sales.
Get a free trial and 25% off FRBO lead services:https://pmleads.com/doorgrow
Free download of Daniel Madison's cold calling script: https://drive.google.com/file/d/0B1bo76y1mf3ARFNXMVMzX3lBSjl3cFJlT0RyZVo3bzNXNzFz/view?usp=sharing
Want more from Daniel Madison? Give him a call at (864) 640-8877 or send him an email:daniel@4m-propertysolutions.com
4M Property Solutions:http://www.4m-propertysolutions.com/