We’re living in a Prime nation, more and more of us receive packages delivered to our doorsteps every single day. But with great convenience comes greater opportunity for crime: Statistics show that mail theft is on the rise.
In this episode, we’re joined by August Cement, tech guru at video doorbell company Ring. You’ll learn how Ring is the future of doorbells, and how creating peace of mind is the most important part of protecting your properties.
[2:20] What is Ring and what are the features and benefits?
[5:00] How Ring protects against package theft
[8:15] Why peace of mind is more important than security
[10:30] Integrating with home automation systems
[13:00] The story of Ring’s conception and why it’s not a gimmicky product
[14:55] Taking neighborhood watch to a higher level
[19:05] How Ring helps property managers and tenants
[26:40] Do you need to be tech savvy to use Ring?
[28:00] Using Ring in extreme circumstances
[29:35] What happens if a thief steals your video doorbell: Ring and customer service
[33:50] Community interaction
[36:00] Responding to a knock on the door from anywhere in the world
Ring is about maintaining a connection to your home, neighborhood, and family regardless of where you are in the world.
Our product has brought to light how common crimes of opportunity occur. Samsung and Apple couldn’t see that, but Ring did.
It’s simplicity that makes things genius.
Want to talk more about how Ring works and if it’s right for you? Email neighborhoods@ring.com to get connected to August and his team.
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/
Learn about the benefits of joining NARPM from 2016 President, Bart Sturzl. In this interview, we get into the benefits of being part of NARPM, the designations you can earn (and how those can help you grow), and the importance of connecting & collaborating with your peers.
03:15 What is NARPM?
05:09 Should I attend the NARPM conference?
05:55 What benefits does NARPM provide for new property managers?
11:17 Technology is causing the PM industry to grow at lightning speed: here's how.
12:04 How can independent PMs compete with the franchise players?
15:45 The PM industry has several designations. Learn how these can help your business grow!
21:38 Discover the unique insight Bart has gleaned from being president of NARPM.
26:31 Is NARPM the best source of information on how to be a property manager?
29:22 How can I join?
"We want property managers to earn more money with less time."
"Industry designations show you're a step above, and that's all that matters."
"If you want where the rubber meets the road education on PM, NARPM is the place to get it."
The National Association of Residential Property Managers (NARPM) Website: http://narpm.org
Learn how Andy Shinn, former AAA executive and property management business owner, came to create a competitive, maintenance coordination call center in the U.S.
In this interview with Andy Shinn of EZ Repair Hotline, you'll learn about his adventure in seeking to create the premier, maintenance-coordination call-center and how they partnered up with Property Meld.
Take Our Property Meld Maintenance Quiz (and get 15% Off): https://doorgrow.com/maintenance/
01:54 What is EZ Repair Hotline?
03:00 Andy's background at AAA, starting a new PM company, & how maintenance was preventing growth
05:13 How putting his family first lead to creating EZ Repair Hotline
06:28 A savvy method for researching and testing a product/service prior to launch
08:22 How EZ Repair compares to other call center options
09:30 Their two-tier system for fielding calls that includes property management specialists.
10:39 Their connection with Property Meld
13:19 About how they only hire U.S. call reps
14:25 How his executive experience at AAA influenced their processes
16:02 How they handle non-emergency calls and prevent unnecessary service calls
17:19 They personalize the details of your maintenance call-handling with you
17:47 They will even handle getting approvals from the homeowners
18:26 Andy's experience preventing negative property management reviews by providing excellent service
19:22 They will enter work orders into whatever property management software you use.
20:11 How their efficiency & processes allow them to keep their costs lower than the competition.
20:36 Why you should leverage services that have expertise instead of trying to find one person to try to match an entire company.
It is a mistake to assume you can hire a single employee that could outdo an entire company that provides a low-cost service.
Property management vendors replace a single employee with an entire company that has a singular focus, tested systems, and proven processes.
Get 15% Off: https://doorgrow.com/maintenance
EZ Repair Hotline: http://www.ezrepairhotline.com
In this episode, we revisit Property Meld with Ray Hespen after he reached out to let me know about some updates.
Now you can hand off all of your property management maintenance coordination, calls, data entry, etc. to Property Meld!
Take Our Property Meld Maintenance Quiz (and get 15% Off): https://doorgrow.com/maintenance
02:15 Background on Property Meld
03:33 Exciting new announcement from Property Meld
04:47 How much can they actually take off a property manager's shoulders?
05:58 What impact does Property Meld have once implemented?
07:04 The importance of leveraging technology to keep staffing costs low.
07:56 Focusing only on maintenance makes them more efficient at it
08:29 Common questions PM's ask Property Meld
10:04 Their typical 3-stage onboarding process
11:50 How they can help you improve your maintenance strategy and keep you informed
13:10 How they represent your business to your owner/clients
14:03 Is their call center is based in the US?
14:34 How to find out more about Property Meld
15:09 Can Property Meld actually save a property manager money?
16:21 Their competition, including Night Tenders (now SuperTenders) & Appfolio's maintenance.
17:32 Why you should ask yourself if you would rather do maintenance coordination or spend that time growing your business?
19:42 Why you should focus on technology & systems before incurring the expense of hiring.
21:45 Be sure to get a competitive advantage of getting more done with less.
Some property managers try to save money, but really just prevent themselves from making money.
Being cheap to save hundreds of dollars on software costs, doesn't make sense if it translates into spending thousands on staffing costs.
Get 15% off: http://doorgrow.com/maintenance/
Property Meld: http://www.propertymeld.com
Learn from Salvatore Friscia about Snapchat and the benefits of branding yourself an expert & creating a personal image that is real and approachable.
02:09 Being innovative helped him get mentioned in a Zillow article
03:02 Marketing power and attention brought by being one of the first in his niche
03:17 Snapchat = Sexting? How social platforms evolve for business use
04:39 Gary V pushes it
04:55 What Snapchat is (in a way that actually makes sense).
06:24 You're own personal reality show
06:37 Have the intention to make it enticing and fun
07:27 Salvatore's "winning recipe" for social media
09:00 Why the 24hrs shelf-life is a benefit and is attractive
09:44 Importance of transparency in showing continuity throughout your actual day.
11:13 Stop trying to just be "professional" be real & relatable.
12:09 How Snapchat trumps other platforms - less followers, but higher engagement.
12:38 How Salvatore makes Snapchat and other social media fit into his day.
13:58 The concern of "will people find your life interesting"
15:09 Salvatore has others help him snap even during the interview
15:51 Just showcase your actual day, your real life.
16:39 How to get Snapchat followers.
18:23 Who follows Salvatore on Snapchat & does he get business from it?
19:14 How did he get featured on Zillow?
20:18 Be real - Snapchat is about reality - how it compares with Instagram
21:52 Have an intention, a purpose of benefitting your brand
23:57 Want to get good at video? Snapchat is a safe place to start.
26:01 Why we started our own Social Platform #DoorGrowClub for Property Management Entrepreneurs to connect.
27:16 Repurpose your content! Download the Story then push it elsewhere.
"In property management, we're typically slower to catch on to trends than some of the other industries"
"The winning recipe is to have multiple social channels that all push people towards your favorite channel that leverages video."
"Snapchat is an opportunity for you to bring reality to the property management industry and create trust"
"You can fake things on Instagram, but Snapchat is real."
Salvatore's Company: http://SDPmanagement.com
Snapchat: http://www.snapchat.com/
#DoorGrowClub http://doorgrowclub.com
Learn from Steve Murray of REAL Trends about what research says about the future of property management and where it is heading.
"The larger you get, the better the margins."
"The barrier to entry is low for property management, but legislation, liability, and staffing costs, are increasing."
http://REALTrends.com
Learn from mental-performance life-hacker, Jameson Brandon how you can get a mental edge and dramatically increase your productivity with Smart Drugs. Tired of burning out in the early afternoon? Or going home a tapped out zombie with nothing left in your mental tank to give to your family? Want to feel “Limitless” like the movie or TV show? Listen. My personal productivity has skyrocketed.
3:10 What are Smart Drugs?
3:34 The movie "Limitless" - is it possible?
7:49 Various names for smart drugs and various types.
8:41 How some nutraceuticals have been studied and used for thousands of years
8:58 Racetams created in the 60s
9:13 Entrepreneurs challenge - Shiny object syndrome
11:09 Our brain normally can only make so many decisions per day and then we get brain fatigue.
12:56 What would be the best place to start?
13:25 How to kill coffee caffeine jitters and crash with an amino acid
14:36 A natural drink combo for energy and focus
15:46 Plant-based natural nutraceuticals
17:55 Stress reduction and choline
20:16 Are these addictive?
21:36 Testing to validate what actually works
22:44 Powerful short-term and long-term memory recall
25:11 The stronger stuff you can add in next - Racetams
31:03 The best Racetam to start with and where to get it
31:46 Feeling Superhuman and how confidence is created through evidence
36:11 Increasing the effects with some lifestyle changes like meditation and a schedule
43:56 My experimentation since the original interview
Your brain only has enough fuel to get through part of the day. Smart drug supplements feed your brain.
Ciltep - https://doorgrow.com/go/natural-stacks/
Brain Labs Pro - http://www.mindlabpro.com/
Jameson's Free Book: http://optimizingman.com/pptsd
Learn about Property Meld, a new technology solution to save you time and money by automating your maintenance coordination between tenants and vendors, from CEO Ray Hespen.
The first thing a property management business owner should get off their plate is emergency maintenance.
Business owners should manage systems and their systems should manage their people.
Systems & technology usually make fewer mistakes and cost far less, than staff.
Take Our Property Meld Maintenance Quiz (and get 15% Off): http://doorgrow.com/maintenance
In this episode, Darren shares a variety of owner & tenant fees & how to justify them. He also covers some additional insights into fees & mindset. Learn why having the cheapest fees is a losing tactic used by small property managers that usually fail.
With fees, if you believe you're worth it and know how to justify it, you will get it.
Raising property management fees is an owner-by-owner surgical process.
The Eleven Profit Laws on Fees by Darren Hunter:
http://www.darrenhunter.com/articles-and-knowledge-library/boosting-income-and-profitability-articles/the-eleven-profit-laws-on-fees-part-one
Learn how to properly increase your rent-roll without adding new doors - by increasing or adding fees.
You will learn from Darren Hunter his secret to justifying your additional fees by leveraging the law of alternative costs, & how little your clients really care about your competitors, & the power of peace of mind.
C-class owners are like a pack of cigarettes and they'll take years off your life.
Crappy owners generally have crappy properties, which attract crappy tenants.
The Eleven Profit Laws on Fees by Darren Hunter:
http://www.darrenhunter.com/articles-and-knowledge-library/boosting-income-and-profitability-articles/the-eleven-profit-laws-on-fees-part-one
Learn how to properly increase your rent-roll without adding new doors - by increasing or adding fees.
Darren Hunter - of darrenhunter.com is an Australian & international property management trainer, speaker, consultant and authority on property management, specialising in fee maximisation and profitability as well as time and stress management and property management productivity.
The excuses you give for why you can't charge more, often just reveal your own mindset problems.
Belief is transferrable. You have to believe in your fees to get others to believe them.
7 Wrong Mindset Reasons that Stop You Getting Better Fees! by Darren Hunter:
http://www.darrenhunter.com/articles-and-knowledge-library/boosting-income-and-profitability-articles/7-mindsets-that-stop-you-getting-better-fees-everytime
Learn from Kass Rose about the benefits of foreclosure auction prospecting for providing a competitive advantage in growing your property management business, without doing costly marketing. Part 2 of 2
"People who buy & sell get rich, people who buy & hold get wealthy"
"I love foreclosure investors, they look at cents and dollars, it's not emotional."
The Foreclosure Auction Prospecting Event - This is the event Kass & I discuss doing in the interview - it is some great content.
Kass has a fun story about how she got her start in property management. Learn from Kass Rose about how she used her knowledge as an auto-sales-industry veteran to grow her business from 0 to 300 doors in about 3 years leveraging the foreclosure auction scene. Part 1 of 2
"Here's the beautiful thing about property management: It does not matter if it is a hot market or a tanking market - you will always have renters"
http://rentlucky.com/
http://www.kassrose.com/
https://rentmyway.com/
Learn how Tony LeBlanc has built his process for increasing rent every year with his tenants - without the uncomfortable battles, struggle, or painful negotiations - and has turned it into an opportunity to facilitate great customer service. Tony shares some fantastic mindset & philosophy that would make any owner trust him with their property - you are sure to get some valuable insights.
There's a direct correlation between rent increases & how well a property is maintained
A good property becomes a bad property if it has a bad owner
'No news is good news' is a bad strategy for client retention because it means all news will be bad news.
Make your property owners feel like a business owner with a team behind them.
The second half of the interview with Michael Monteiro of Buildium. Hear some great book recommendations, discussion about customer service, hiring, and more.
"If you're perfectly available and perfectly accurate, you're just NOT screwing up. That's expected and demanded."
"It's not enough to rely on just word of mouth & referrals. Property managers are having to diversify."
"Whenever you fail to inspire your team, you always waste energy trying to control them."
FCC Disclaimer: Wherever possible we make our links to 3rd-party sites affiliate links, which may compensate us. This does not imply that we endorse them, we are just being helpful & smart.
Book: First Break All the Rules
The first half of the interview with Michael Monteiro of Buildium. Learn about Michael commuting by boat, AllPropertyManagement, and more.
Know your ideal customer profile so that you can direct all of your sales, marketing, & efforts to attract more.
If you're targeting everybody in marketing, you're targeting nobody
"Managing an association is very different than managing a rental. It's hard to get really good at what you do if you don't have focus.
Jon went from closing 3 doors a month to closing 30 in just 2 months as a result of getting coaching. Hear Jon discuss how he got results by working with Jason on everything other than business, first.
"I realized if I get one deal out of this, it's paid for itself - I just can't believe the value." 12:04
"I found out really what was holding me back - had nothing to do with business - it had really nothing to do with property management." - Jon Westrom 05:56