Property Management Growth with DoorGrow

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.

• Tony had large property management growth in mind from the beginning 03:01
• The Biggest Challenges with Rent Increases 03:59
• The fear of raising rent, the problems it causes 05:00
• There's a direct correlation between rent increases & how well a property is maintained 08:13
• A good property becomes a bad property if it has a bad owner 09:04
• Jason's "Cycle of Suck" 09:30
• Look at each property as a business 10:58
• Avoiding dealing with uncomfortable rent increases is a reason to hire a property manager 11:59
• Set clear expectations about future, annual rent increases with tenants at the lease signing 12:13
• Contracts don't matter until it is too late, so be sure to say it to them verbally. 14:26
• The lease signing process is the biggest part of onboarding a new tenant 15:06
• Tenants forget. How Tony prepares tenants in advance, with phone calls. 16:20
• The power of regular phone calls to every tenant 17:29
• Ground Floor's process for these tenant phone calls 19:02
• Good idea to shortcut this with email? 19:40
• The advantage of being small & the barrier to feedback created by having a team 20:35
• What about dealing with owners when tenants push back? Aim for 80/20 on increases. 21:37
• The owners rely on you to be the expert - communicate income challenges & forecast for investors 23:18
• Display confidence that you are the expert. 25:20
• "No news is good news" is a bad strategy: The importance of positive touch-points with owners. 25:44
• When clients/owners reach out for updates - that's an indicator that you aren't communicating often enough. 28:08
• Tony's winning philosophy regarding treating owners as business owners 29:19
• If you haven't been doing effective rent increases, how to start 30:46
• Rent increases are a necessity to keeping your property management business running well. 32:01

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.

GatherKudos

Ground Floor Property Management

The second half of the interview with Michael Monteiro of Buildium. Hear some great book recommendations, discussion about customer service, hiring, and more.

• Accuracy & Availability in Property Management 01:22
• Partnership & Advice in Property Management 04:00
• The Top Lead Sources for Property Managers 05:51
• Word of Mouth & Referrals are not enough - Diversify to Grow 06:45
• The Blindspot of Selling Property Management 08:24
• The Importance of Having Multiple Channels to Hit Growth Goals 09:18
• Get Clear on What The Owners Want 11:25
• To be Competitive - Leverage the Right Technology 11:46
• The Biggest Property Management Challenges 12:16
• GreatSchools - per Capita income as a Tool to Select Areas to Manage 12:56
• Technology is Critical to Success 15:19
• Hiring Is a Common Barrier to Growth & Helps You Focus on the Business 15:40
• The Painful Transition from Solopreneur to Having a Team 16:54
• Whenever you fail to inspire, you always control. 17:46
• Organizational Health: Cohesion, Clarity, Over Communicate, Continue to Over Communicate it 18:46
• The Importance of Having Clarity of Vision or a "Why" 20:32
• Incentivizing Good Behavior or Performance With Money vs. Inspiration 21:24
• When you share your purpose & values clients won't worry about the specifics once they trust you. 22:53
• Even if some marketing channels aren't performing as well they have different audiences 26:16

"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

State of Property Management Report

GreatSchools

Book: E-Myth Revisited

Book: The Advantage

Book: Start With Why

Buildium

The first half of the interview with Michael Monteiro of Buildium. Learn about Michael commuting by boat, AllPropertyManagement, and more.

• 12,500 Customers! 01:52
• Michael Commutes by Boat 02:05
• Buildium's Backstory 02:47
• How Buildium Stands Out Among Property Management Software 05:25
• The Importance of Ease of Use in the User Experience 07:37
• About The State of the Property Management Industry Report 09:23
• Understand the Competition to Remain Competitive 11:29
• Various Services Property Managers Can Add 13:31
• You May Need to Fire Some Clients 15:42
• Flat Fee Vs Percentage-Based Firms 16:28
• Avoiding Being Just a Commodity 18:25
• "Other" Pricing Variations 19:33
• The Advantage & Challenge of Low-Flat-Fee Property Management Firms 20:44
• Avoiding The Cycle of Suck 21:03
• Your Ideal Customer Profile (It's not anyone or everyone) 22:40
• Importance of Focus - "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. It's also hard to differentiate." 23:39
• Start Firing Worst Clients 24:22
• Knowing Property Owners' Pain Provides Opportunity - Focus on Rental Marketing & Tenant Placement 25:07
• Importance of Prompt Communication with Owners (Not Just Tenants) 27:16

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.

State of the Property Management Report

Buildium (Affiliate Link)

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.

• "You made my husband a better man" 01:16
• Zero Years of Property Management Experience? 02:26
• How He Discovered Jason for Coaching & Learned About the 02:57
• Why Jon Started Coaching 04:14
• What is coaching? 05:01
• Jon's Mindblowing Realization - It's Not All About Business 05:56
• The Frustrating First Month of Coaching - Health & Marriage? 06:09
• Body Being Balance Business - But What About Business 07:52
• Big Scary Goal of Adding 20 New Doors in 90 Days 08:11
• Hit 19 Doors in First 30 Days! 09:10
• The Game Changer of Mindset, Confidence, & Sales Trainings 09:43
• Jon's New Problem: Too Much Growth 10:32
• Now Firing Doors & Focusing on Revenue 10:53
• Would Coaching Make Sense For Others? Who's a Fit? 11:20
• Not Just Property Management: Meditating, Green Drinks, & Marriage? 12:17
• Try Coaching for 30 Days - "My thing is...What if it works?" 14:42

"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

Westrom Group Property Management