NARPM Radio From Overwhelm to Ownership: Strategies to Make Property Management Work for You
Aug 27, 2025
Preston Walls, founder of Walls Property Group, shares his expertise on avoiding overwhelm in property management. He discusses innovative strategies to build wealth through ownership while improving team performance. The conversation touches on leveraging AI for rental analysis and navigating competitive platforms like Zillow and apartments.com. With humor and practical advice, Preston emphasizes the importance of technology, smart growth strategies, and efficient operations to enhance both profitability and client satisfaction.
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Family Business To Owner-Operator
- Preston learned property management from his father and took over the family business after his father retired in 2008.
- He continued the buy-renovate-refinance model and also pursues new construction when markets allow.
Misaligned Incentives Skew Rent Comps
- Misaligned incentives make in-house rent comps inconsistent and unreliable across property managers.
- Moving comp work to a consistent rules-based process reduces subjective variation and improves decisions.
Automate Comps To Keep Data Fresh
- Replace manual Excel comp work with a rules-based engine or tool to preserve data integrity and consistency.
- Automate comp updates to avoid stale links and reduce human interpretation errors.