106: Save Your Asset from Deteriorating

Feb 11, 2020

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What’s your management company not telling you? They don’t care two cents about you, but they do care about their money. When you hire people and pay them well, they still never care as much as you do.

How do you get them to care? Walk slowly, carry a big stick, and smile to let them know you’re in charge. Management companies should carry out your dreams, goals, wishes, and plans.

Topics on Today’s Episode:

Start: Management company puts its best foot forward
Middle: Management company tends to get lazy
Things To Do: Management companies want to raise rents and increase income
Collected Income: How most management companies get paid
Expenses: Do management companies truly care about what they spend?
Motivation: Always chase the money, always follow the money
See What You See, Expect What You Inspect: Prepare annual budgets, make surprise visits, pay attention to details, and submit work orders
Change management company? Get the love that you deserve
Two-part Solution: Corey to be CEO and Kim Bruggeman the asset manager
Plan Basics: Risk/liability, prevention, product improvement, resident retention
Lighthouse Way: Management company controls product to create culture, system, and belief to get things done the Kahuna way

Links and Resources Mentioned:

Quotes:

“They are in a fee-based business, and they care about the money. More importantly, they just really care about their money.” Corey Peterson

“No one is going to care more about your property than you.” Corey Peterson

“There’s this nasty thing called, ‘expenses.’ It could be nasty when it’s not paid attention to correctly and properly.” Corey Peterson

“Pay attention to that expense category because if you don’t, you will not be profitable. Management operations is what makes or breaks your deal.” Corey Peterson

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