EP010: Meet The Team Then Decide – Part 3 of What To Expect From Your Property Manager

The Landlord Profitability Playbook Podcast

Welcome to The Landlord Profitability Playbook Podcast! In this third episode of our 12-part series, "What To Expect From Your Property Manager," hosts Chris McAllister, Laci Leblanc, and Gretchen Mitchell dive deep into the importance of meeting your property management team before making any commitments.In "Meet The Team THEN Decide," we explore the foundational role of trust in managing your valuable assets. We'll discuss the value of local expertise, the collaborative nature of the property management relationship, and how to get a feel for team dynamics. We'll also cover key performance metrics you should inquire about and the overall structure of an effective property management team.By tuning in, you'll learn how to assess whether a property management team is right for you, ensuring they have the necessary tools, clear roles, and the commitment to high standards that will help optimize your investment returns.Join us for insightful tips and strategies that will help you make informed decisions about your property management partnerships.Hosts:• Chris McAllister• Laci Leblanc• Gretchen MitchellKey Topics Covered:• Building trust• Importance of local expertise• Collaboration in property management• Assessing team dynamics• Understanding key performance metrics• Effective team structureEnsure your properties are managed effectively by teaming up with professionals who view your investments as their own.Don't miss this episode for valuable insights and actionable advice!SHOW HIGHLIGHTS

We discuss the critical importance of building trust with your property management team, emphasizing the value of face-to-face interactions, whether in person or via Zoom.

Chris highlights how local expertise in property management can offer significant advantages over national companies, especially through intimate knowledge of neighborhoods and market dynamics.

Gretchen explains the necessity of clear role definitions and compliance with licensing laws within a property management company to ensure smooth operations and accountability.

We emphasize the need for a well-structured team with designated roles for tasks such as accounting, maintenance, and leasing to enhance efficiency and effectiveness.

Chris talks about the importance of evaluating property management companies by understanding their team structure and distinguishing between front stage and backstage activities.

We explore key performance indicators for property management, including 'time to turn,' 'days on market,' 'rent collected,' and 'three-day notices,' as essential metrics for evaluating effectiveness.

Gretchen underscores the importance of balancing legal, moral, and professional responsibilities while maintaining trust and respect between property managers, tenants, and owners.

We discuss the advantages of having a geographically focused team for property management, particularly for investors looking to expand their portfolios.

Chris shares insights into the internal dynamics of Roost Real Estate Co Property Management, detailing the roles of key players and the importance of providing the team with the proper tools and resources.

We advise prospective clients to inquire about job descriptions and take office tours to gauge operational readiness and ensure the property management team can meet their needs.

LINKS

Show Notes

Be a guest on the Landlord Profitability Playbook Podcast

Download