Many elements of the leasing process are very painful for property managers. Today, I am talking to James Barrett and Calvin Davis of Tenant Turner, a property management tool and resource that helps property managers manage their tenant leads, schedule showings, and put the leasing process on auto-pilot.
Tenant Turner removes burdens for property managers in a way that’s elegant and simple. This allows them to focus on higher value-added activities, such as growing their business and adding doors.
[02:44] Tenant Turner was created out of necessity to put properties on the market.
[03:12] Simplify and improve leasing process to get feedback, reliable tenants.
[04:43] Tenant Turner focuses on people and simplicity backed up by support.
[06:02] Client-centric vision puts you in alignment with what customers want and need.
[06:53] Success was difficult initially, but became easier - it was a big, but good challenge.
[07:55] Look to experts and customers in the industry for advice and guidance.
[08:29] Determining if someone is a fit with Tenant Turner.
[11:00] There are no shortcuts to success, including bringing on the right clients.
[12:21] Biggest questions and concerns regarding Tenant Turner.
[12:43] Property managers are hesitant to give up control of tenant leads.
[13:35] Software, such as Tenant Turner, is becoming a necessity; it’s not if, but when to plug it in to focus on growing doors and giving owners the attention they need.
[14:00] Tenant Turner size is based on a company’s growth goals.
[15:42] Building technology into processes for improvement.
[16:25] Old school vs. new thinking and possible solutions; change is challenging.
[18:47] Time, savings, and other benefits of being onboard with Tenant Turner.
[20:00] Unaccompanied showings trend in various markets.
[23:05] Future of Tenant Turner: New technology and integration partnerships.
Many elements of the leasing process are very painful for property managers.
Tenant Turner focuses on people and simplicity backed up by support.
There are no shortcuts to success, including bringing on the right clients.
Calvin’s Email
DoorGrowClub Facebook Group
There’s a lot of stress that comes with moving. Push tenants toward the finish line by getting utilities turned on quickly. Today, I am talking to Wes Owens of Citizen Home Solutions, a free concierge service that facilitates utility services for new residents moving into a property.
Property management companies experience pain points and challenges with tenants setting up utilities. They struggle with getting utilities quickly set up in a tenant’s name and placing necessary equipment. So, Citizen Home Solutions engages directly with tenants and takes the stress out of the process.
[03:48] Before and after results of using Wes’ company to save time and money.
[04:52] Tenants’ appreciate the company’s facilitation help and process.
[06:22] Growth Goals: Reach nationwide - outreach everybody.
[06:49] Citizen works with major cable, satellite, Internet, phone, and security providers.
[07:10] Property managers’ biggest questions and concerns about Citizen’s services.
[08:15] Onboarding process for property managers.
[09:00] Citizen only needs W-9 and logo to create a portal for property managers.
[09:20] Property management company provides Citizen with tenant information.
[09:35] Citizen contacts tenant about setting up utilities.
[09:45] Working with Citizen is a value-add piece that sets companies apart.
[10:07] Citizen pays a percentage of what it earns to property management company.
[10:30] How Citizen makes money from the utility companies.
[11:30] No agreements or contracts, only outstanding work required.
[12:13] Percentage of payout for clients.
[12:44] Citizen’s focus on growth.
[13:00] Property management mentors.
[13:24] Citizen doesn’t offer some services, but offers tools and does what it can to help.
[15:15] Citizen follows up with and educates clients on services.
[15:55] Updates and check-ups provided by Citizen.
Moving and making sure everything is set up is stressful.
Growth Goals: Reach nationwide - outreach everybody.
Zero cost to implement, zero cost to the tenant.
Wes Owens phone is 214-493-2010 or wowens@citizenhomesolutions.com
Citizen Home Solutions’ Dashboard and Onboarding (password:letmein)
Brad Larsen Podcast with Wes Owens
Tenant Liability Insurance for Property Management with Brad Larsen
Steve Rozenberg and Pete Neubig of Empire Industries
Kevin Knight of Liberty Management
DoorGrowClub Facebook Group
In this episode, I am talking to Todd Breen of Virtually Incredible about how to spend less time leasing to make more money and grow your business.
Todd manages a property management company and opened an outsourcing solution called Virtually Incredible. It was designed to help property managers spend less time leasing and spend money on a good marketing campaign, business development manager (BDM), and call center to begin the customer journey on the right foot.
[02:27] Business owners devote too much time and resources to leasing properties.
[02:47] Putting less effort into leasing and more into listing can free up energy to grow your company.
[03:54] Analyze and monetize your leasing process.
[04:33] What would a customer’s experience be with your company and what do you need to do to improve?
[05:00] Using the traditional model, business owners tend to charge an owner a tenant placement fee and share some of that with a commissioned leasing agent.
[05:51] The traditional model is inefficient and expensive.
[06:41] If answering a call isn’t your top priority, and booking/showing isn’t something you enjoy doing, then learn how to efficiently monetize leasing calls or inquiries.
[07:17] Utilize mystery shopping to gain data about your customer’s journey.
[09:05] Companies do not grow because they’re not answering their phones, or they’re preoccupied when they do.
[09:19] Specialize your outsourcings and upgrade your technology for your showing process to devote more energy to answering new owner calls.
[10:33] Employees who answer your leasing lines should be Fair Housing trained and certified to properly respond to questions.
[11:45] The most significant benefits to offloading leasing calls include a quiet office.
[13:26] Be good at hiring, training, supervising, managing, and motivating staff.
[14:33] Look at how much it costs you to lease a house. Add up commissions, staff hours to answer phones, mileage expenses, and hours spent showing houses.
[15:05] Do the same analysis on your customer acquisition cost in getting a new customer to manage their house.
[15:38] Are you doing your best job leasing? Can you improve that to free up time and resources to grow your business?
[17:42] Cut the number of days to market to rent faster, do a great job renting, and have higher client retention.
[18:35] Staff that complies with Fair Housing lowers legal liability and provides a greater peace of mind as a business owner.
[19:23] Don’t be afraid to outsource tasks to an outside team.
[20:32] Answer after-hours calls to increase your efficiency and reduce days on the market.
[22:10] Whatever you’re spending in money on leasing, spent that on marketing for new owners and hiring a BDM. Reallocate funds toward growing your business.
[22:52] You should have software to facilitate calls and showings, such as Tenant Turner, Rently, ShowMojo, or Mock Rentals.
[23:55] Make sure the call center you select is as good as you hoped. Get a dedicated leasing hotline.
[25:22] Publish your rental standards in each rental listing. Describe what is needed to rent from you.
[27:24] Have leasing agents who have the listings, but also a leasing director that serves as the leader.
[29:00] People who are 35 and younger don’t call. They book their showing online. If you don’t have an online showing option, get one.
[29:45] There’s got to be a way to reach out to the people who want customer service and a way to reach out to people who want technology.
[30:21] Shift your focus, time, energy, resources, and staff toward growing your business.
[30:58] Utilize videos to accelerate your marketing process, reduce your days on market, reduce phone calls, and reduce your showings.
Don’t be afraid to outsource tasks to an outside team.
That’s the real benefit, spend less time leasing and more time listing.
Reach out to people who want customer service and who want technology.
Virtually Incredible Website
Virtually Incredible email
Virtually Incredible phone number: (561) 693-2648
Do you know your credit score? What about your pet? Does it have a score? Today, I am talking to John Bradford, the “Pet Guy.” John came up with the idea for PetScreening.com by combining his skillsets of being a property manager and pet lover.
There’s two “Ps” that cause property damage - people and pets. Property managers need to know how to handle pet diligence and the increasing population of “assistance” animals - sometimes involving pet owners who try to circumvent policies of property management firms.
[05:00] Service animals is a topic that sparks property managers’ interest.
[07:00] Experience Share: Tell your experiences and don’t hold back any punches. It makes for authentic and real conversations.
[07:16] John started PetScreening to develop a service that reduced the liability for property managers and clients.
[08:12] John did not want the service to cost any money.
[08:21] John loves money, so he wanted a product that generated substantial revenue around pets.
[09:05] John worked with software developers, lawyers, veterinarian consultants, lawmakers, and others to develop the PetScreening product.
[10:09] Hundreds of firms have registered with PetScreening.
[10:55] PetScreening generates revenue through an application fee paid by the pet owner. The cost is $20 for the first pet, and $15 for each additional pet. However, there is no application fee for service animals. [11:40] PetScreening does a revenue share with the property management firm. The tool is free, and they get a rebate besides.
[12:17] The property management firm is given a unique link to share with customers who have a pet or service animal for PetScreening to track applications.
[13:09] The customer is taken to PetScreening to complete the application, which includes questions about the pet: Name, breed, type, photos, vaccination records,etc.
[13:47] The application includes an Affidavit section, which features questions that protect the property manager and owners. Applicants attest and certify their answers are accurate.
[15:12] PetScreening developed an algorithm that takes data points from the application to create a “Pet Score” that goes to the housing provider.
[15:33] The score can indicate risk factors for that pet. Use that score to create a pricing matrix that correlates to the score and identify how much revenue you will generate.
[16:17] Applicants basically know their answers will impact whether a property manager will allow their pet, but they don’t know the pet is being scored.
[17:00] Property managers are building better relationships with pet owners because they tell them what they need for the pet owner to pay less.
[17:52] The best rating - a 5-paw score - is difficult to achieve. Only about 11% of applicants reach this status.
[18:09] It’s up to the property manager how they treat the scoring. If you have an animal with a 1-paw score, you may not allow them or charge more.
[18:59] About 10% of PetScreening’s applications are for assistance animals, either as a service or companion animal.
[19:53] PetScreening collects data and asks HUD questions, then its legal team reviews each assistance animal application, but no score is given. They are either recommended or not.
[20:39] About 32% of applicants who say they have an assistance animal have a status of “waiting for animal owner.” When asked for clarifying information, they disappear. [21:40] PetScreening is disrupting the industry because it is weeding out people who do not truly have an assistance animal.
[21:57] Test of Reasonableness: Is the documentation reasonable? When was the document issued? Who is the provider?
[22:38] If applicants lie, there is no real legal recourse. There are not a lot of statues on fair housing, so people are taking advantage of this problem.
[23:55] PetScreening is a timesaver - and time costs money. John’s firm has saved time and minimized liability risks.
[25:09] Every question asked in PetScreening’s application is designed to protect property manager and owners.
[25:20] PetScreening developed the first nationwide database where property managers can report incident reports of pet damage and pet biting that follow that animal forever.
[26:58] For one, specific pet, the owner only has to submit an application and pay once. Then they can share that information with other businesses.
[28:37] However, pet owners need to renew the application every year, which costs $10.
[29:29] Property managers should re-evaluate data because a lot can change with pets.
[30:10] HIPAA protects sensitive medical documentation. Property managers can ask for such documentation about assistance animals.
[30:42] PetScreening has HIPAA-compliant servers to protect the documentation.
PetScreening - a win for property managers, pet owners, and property owners.
PetScreening’s database offers incident reports of pet damage and pet biting.
It’s up to the property manager how they treat the pet scoring.