Building Bridges: Property Managers and Investors Working Together
Dec 18, 2024
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Ashley Kehr, co-host of the BiggerPockets Real Estate Rookie podcast and author of 'The Real Estate Rookie,' shares her journey through real estate investing and property management. She emphasizes the importance of data and systems for property managers to thrive. Strategies for building investor relationships are discussed, including leveraging networking platforms and meetups. The conversation also tackles the dynamics of the investor-manager relationship, underscoring the value of clear communication and education to enhance collaboration and operational success.
Property managers can strengthen their client relationships with investors by mastering systems, effective communication, and providing educational resources.
Expanding NARPM membership options aims to empower a broader range of individuals with resources and education to enhance property management skills.
Deep dives
Ashley Kerr's Real Estate Journey
Ashley Kerr began her real estate career in 2014 after purchasing her first rental property. Over the years, she expanded her buy and hold portfolio to over 40 units, comprising primarily multifamily properties. Her transition into property management came after managing a 40-unit complex for a real estate investor, where she learned the intricacies of the industry. This hands-on experience, combined with her accounting background, helped her establish a solid foundation for her real estate investments and management approach.
NARPUM Membership Changes
The National Association of Residential Property Managers (NARPUM) has introduced new membership options, allowing a wider range of individuals to join. Previously limited to those who third-party managed properties, individuals who manage their own portfolios or work in support roles for property management can now become members. This shift aims to provide resources and education to more investors, enhancing their management skills and knowledge. By expanding membership, NARPUM seeks to position itself as an industry leader committed to educating all aspects of property management.
Importance of Effective Communication
Effective communication is essential for maintaining successful relationships between property managers and investors. Property managers must have transparent and structured systems in place to handle tenant requests and manage properties efficiently. Inadequate communication can lead to frustrations, misunderstandings, and operational mishaps, as seen in Ashley's experience with her previous management company. Establishing clear communication protocols and regular updates can help ensure both parties remain informed and aligned with property management goals.
Leveraging Educational Resources for Investors
Offering educational resources to investors can enhance their understanding and reduce pushback regarding property management. Property managers can provide valuable insights into local laws, market conditions, and property values through newsletters and seminars. This not only builds trust but also positions property managers as experts in their field, thereby fostering a collaborative environment. Furthermore, by linking investors with helpful resources such as classes or market analysis, property managers can contribute to their clients' long-term success in real estate.
In this insightful episode, Pete Neubig interviews Ashley Kehr, co-host of the BiggerPockets Real Estate Rookie podcast and author of "The Real Estate Rookie: 90 Days to Your First Investment." Together, they explore how property managers can elevate their expertise by leveraging market data and developing strong systems. Ashley shares practical strategies for fostering relationships with investors, from participating in forums to attending meetups and conferences. Learn how to position your property management business as an invaluable partner for real estate investors by mastering systems, scaling processes, and offering unique value. This episode is packed with actionable advice for property managers seeking to grow their portfolios and strengthen client connections.
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