In this episode Tony discusses the massive impact daily, morning huddles have had on his businesses. For day-to-day operations staff and management these meetings can bring a level of clarity and direction that just isn’t possible without them. Notices to vacate, applications, and terms for the upcoming month are the topics of almost every meeting. The purpose of these meetings is to keep the stress and overwhelm in the office to a minimum.

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In this episode Tony discusses the ability of a property management company to thrive if the owners are also running a sales brokerage. When people jump from being a successful real estate salesperson to property management, it can be a serious struggle. Often, the rewards of running a big property management company don’t compare well to the rewards of a successful real estate broker.

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In this episode Tony discusses having in-house maintenance and how massive the impact can be by bringing maintenance under the control of your management company, and how you’ll need someone to work directly with them once you do. Not having a dedicated person for your maintenance team to work with diminishes their effectiveness and efficiency. Having the maintenance coordinator do billable work can even offset a large portion of their salary.

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In this episode Tony discusses some of the issues facing property managers in the current pandemic, how they are affecting business and things you can do to counter them. One of the beautiful things about property management is that you sit directly within the influence of many, many service businesses. This makes them ideal for incorporation into your ecosystem of service businesses. Having this additional income can really save you when the rent roll fails you. 

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In this episode Tony discusses property management systems and how so many managers are willing to put up with and accept mediocre systems in their business. The poor systems lead to high turnover rates and others prominent issues in the industry. PM’s will also tend to not prioritize a high-level, well-working system, or worse, they think that someone else will just take care of it. Where are you accepting mediocre results? 

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In this episode Tony discusses dealing with property managers and owners that constantly throw themselves back into the day-to-day operations to help out because they can’t say “no” and they need to be the hero even if they don’t have the answer. The 3 people that are absolutely indispensable in my operation are the office manager, the maintenance manager/supervisor and financial controller.

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In this episode Tony discusses his history of being a procrastinator and how gaining clarity by asking himself why he was doing what he was doing finally broke the bad habit. You need to make time to reflect on where you were, where you want to go, and what it will take to get there. Too many people think it’s easy to get a lot done during a day - it isn’t. It takes a massive amount of planning, willpower, sacrifice, and clarity.

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In this episode Tony discusses some simple techniques he has come up with over the years, through lessons he has learned the easy and the hard way, to reduce your level of overwhelm once you start to grow your business. Many of these strategies can and should be started right away, before the business gets too big and you are trying to play catch up. From setting up a support email address to protect personal account, to morning huddles.

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In this episode Tony discusses thinking of your property management company as a safe place to be able to fail. You aren’t so much failing as you are cutting your teeth and learning a new business. Having your own portfolio and experimenting with what works and doesn’t work within that safety bubble, saves you from having to go to market blind and test things live. The faster you can get through the failures, the faster you can get to success.

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In this episode Tony discusses the common desire to constantly grow door count without checking the underlying structure of your whole operation to make sure it’s actually time to expand. Opening a second location is a very enticing idea but will never be simple and will always consume more of your time, so be sure to plan accordingly and be realistic in your expectations.     

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