Property Management Brainstorm

Churn rate – or also known as attrition rate – is something we all try to avoid but it is a big problem for most property managers. Our guest today unpacks what he is doing to address this challenge. Lior Abramovich is Co-Founder and CEO at Blanket, a company helping property managers keep their doors open by building thriving relationships with their clients. Tune in as he and host Bob Preston unpack the many definitions of churn, understanding each client, why we need to invest more in relationships, and much more. Topics covered:(02:03) Lior Abramovich’s background and what Blanket does(13:28) Understanding more about churn rate(20:09) What is positive churn?(23:12) How Blanket reduces churn(26:45) How the Blanket dashboard works(32:01) The data and technology behind Blanket – in layman’s terms(33:31) The goals of a property owner versus the property manager(38:55) Getting commission on deals(43:08) Blanket’s business model(49:20) Comparing to other marketplace platforms(53:48) The customer reactions to Blanket so far(57:00) The art of building relationships with clientsConnect with Lior Abramovichhttps://www.linkedin.com/in/liorabramovich/ We're giving a huge shout-out to our amazing Industry Icon Sponsors for supporting our show:SurevestorBlanketVPM SolutionsRentScaleAPM HelpUpkeep MediaConnect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

A high-performing team is more than just a group of talented individuals. It's a cohesive unit that collaborates, focuses on continual improvement, and works toward common objectives to achieve outstanding results. Building high-performing teams has never been more imperative in today's dynamic property management industry. Yet, it has also never been more challenging. On this episode of Property Management Brainstorm, host Bob Preston is joined by Gwenn Aspen, co-founder and president of Anequim, an organization focused on the property management industry to help companies be more efficient and successful. Tune in as Gwen and Bob will delve into the principles, strategies, and practices that enable organizations to harness the full potential of their property management workforce.Topics covered:(02:41) Gwenn Aspen’s background and what Anequim does(04:48) How achievable is building a high-performing team?(07:38) Where do you start with building a high-performing team?(09:51) Entrepreneurial Operating System: the core principles(13:20) Why you need a vision(16:36) Where does company culture come from?(28:47) The power of accountability(32:03) Establishing clarity(35:20) EOS rocks… and what are they?(37:35) Performance reviews and celebrating wins(42:37) Gwen’s closing thoughts(44:25) Get in touch with GwenConnect with Gwen Aspen, Anequimhttps://anequim.net/We're giving a huge shout-out to our amazing Industry Icon Sponsors for supporting our show:SurevestorBlanketVPM SolutionsRentScaleAPM HelpUpkeep MediaConnect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Property Management Brainstorm host Bob Preston has met many property managers in the industry. Bob and AJ Shepard of Uptown Properties have known each other for the last few years, mainly from their involvement in the NARPM organization. AJ is also a real estate investor, active in real estate syndication, and owns a beer brewery. Bob and AJ discuss the buzzword Artificial Intelligence, AI for short, and how it can be utilized in property management companies to streamline operations and increase efficiencies. This is his second time on the show, so we are excited to welcome AJ back to the Brainstorm!Topics Covered:[1:58] AJ Shepard introduces himself and his company, Uptown Properties.[2:55] AJ explains his involvement in the NARPM organization and why he is running for President-elect for the NARPM National Board of Directors.[12:30] Bob and AJ discuss the definition of Artificial Intelligence (AI) and its use in the property management industry.[14:24] Is AI synonymous with automation?[16:45] Are routine tasks of property management the primary application for AI in our industry?[21:55] Can AI be used by property management company owners for higher-level predictive analysis and decision-making?[23:35] Property management is a people business. Is there a risk of AI losing that personal touch?[26:45] Bob and AJ discuss Smart Home technology and its application of Artificial Intelligence in managing rental property portfolios.[30:20] AJ provides his parting words and thoughts on AI.Connect with AJ Shepardhttps://www.uptownpm.com/Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

If you've spent some years in the property management industry, you have become aware of the value of operational systems. A well-run business must systematize. Webster defines systemization as "arranging according to a definite plan or scheme." Everything property managers must keep streamlined: business development, owner onboarding, move-ins/outs, rent collection, evictions, etc.In this episode of Property Management Brainstorm, Bob's guest is Paul Kankowski, a systems expert and host of the Property Management Systems Conference, scheduled to be held in Las Vegas January 23 – 26, 2024. Bob and Paul discuss systems and why the concept is essential to every property management company.Topics Covered:[2:10] Paul Kankowski introduces himself and the PM Systems Conference. [4:06] Do the terms Procedures, Policies, Methods, Systems, Workflow, and Process all of these mean the same thing?[5:05] Why is it a bad idea for the company staff to keep their systems and processes only in their heads? [7:10] Paul explains why you can't just "set it and forget it" when it comes to property management systems.[10:40] Can documented property management systems help with risk management?[12:12] Is there an art to creating a system and where do you start if you know your company is lacking?[20:10] Which company aspects should be the top focus areas for creating systems?[27:35] Should systems be automated or driven by Artificial Intelligence (AI)?[29:45] Paul provides his parting words and thoughts on systemization.Connect with Paul Kankowskihttps://www.pmsystemsconference.com/paul@pmsolutionspro.comConnect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

During his time in the property management industry, Bob Preston has met many property managers all over the USA. One of the most exciting stories he has heard is that of Amy Hanson, who has purchased a property management company, sold it, and started another in a different city. There are many lessons to learn from Amy, including how NARPM has helped shape her journey!In this podcast, Bob speaks with Amy Hanson about how she started in property management, the importance of the NARPM organization in shaping her career, and the lessons she has learned that can help many other property management companies.Topics Covered:[1:35] Amy Hanson introduces herself and her company, A Plus Management, in Plano, TX.[9:00] Maintaining a work-life balance as a property manager.[11:14] How the NARPM organization has influenced Amy's career.[17:40] What lesson did Amy learn from her first company in San Antonio, TX,  that helped her start A Plus Management in Plano, TX?[19:40] What Amy knows now that she wishes she had learned in her first property management company?[21:05] What ancillary fee has Amy implemented at A Plus Management that she would not have thought of with her first property management company?[23:28] What is the best technology Amy utilizes today in the tech stack at A Plus Management that she wishes she had access to in her first company?[28:10] Amy shares her final thoughts, tips, and lessons learned.Connect with Amy Hanson, A Plus Managementhttps://www.aplusrocks.com/Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Hello brainstormers, it's an exciting day for Property Management Brainstorm! If you've been tuning into the podcast recently, I've alluded to a new direction and sense of purpose for Property Management Brainstorm. Well, the time is finally here! Moving forward, Property Management Brainstorm will be a property management consulting company AND a podcast dedicated to the property management industry. We will focus our consulting services on property managers and business owners looking to add doors, grow recurring revenue, and build a high-profit property management business. Many of the Property Management Brainstorm podcast topics will address these same themes. Some of the areas of consulting services to be offered:Property Management StrategiesOperational Efficiency ImprovementMarket AnalysisFinancial ManagementTenant Relations and Customer ServiceProperty Maintenance and UpkeepTechnology IntegrationLegal and Regulatory ComplianceTraining and EducationCrisis ManagementRisk ManagementBusiness Development and Market ExpansionListen to this episode and Bob's briefing on the new direction and why this is important to the property management industry. Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.Pest control is an absolute necessity when managing a portfolio of rental properties. Especially in Summer, bugs and pests will find a way to enter homes and show themselves to tenants. Bob Preston discusses a new approach to pest control with Tom Clements of Pest Share. Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.A property manager's handling of rental property maintenance is vital to every management company in our industry. Bob Preston has a lively discussion and suggests that "maintenance shouldn't be so hard" with his guest, CEO of Property Meld, Ray Hespen.Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.  Several words may be used for our discussion today:  process, systems, workflow, and action items might all be used in this context. Property managers have a long list of job activities that must be completed regularly through a standardized operating procedure. Bob Preston discusses the importance of property management industry systems and processes with Lead Simple's CEO, Jordan Muela.Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

We have big plans coming soon to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.Service Level Agreements (SLAs) can be used effectively within property management companies to maintain the standard of customer satisfaction for tenants, property owners, and service providers. Bob Preston discusses this topic with Ethan Lieber, CEO of Latchel.Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.