Ep009: List and COMMUNICATE Your Minimum Expectations and Non-Negotiables – What To Expect From Your Property Manager (Part 2)

The Landlord Profitability Playbook Podcast

This is the 2nd of our 12-part series called What To Expect From Your Property Manager.Whether you are your property manager, you are already in a property management relationship, or you are thinking about hiring a property manager, this series help you set expectations for performance that can only positively impact your profitability over time.In this episode Chris, Laci, and Gretchen discuss being able to list and communicate your minimum expectations and non-negotiables for your property manager. We are going to talk about motivation – yours and your property manager’s, communication and accessibility expectations, alignment and systems, fiduciary responsibilities, compatibility and performance, and doing your due diligence.I guarantee you will find tips tricks habit and mindsets you can you to make your real estate investments work for you – and not the other way around.

SHOW HIGHLIGHTS

Chris McAllister opens the discussion on the significance of establishing clear expectations and non-negotiables in property management relationships.

Lacey LeBlanc and Gretchen Mitchell talk about understanding what real estate investors seek from a property management partnership for a successful collaboration.

We reminisce about Roost Real Estate Company's growth from managing personal properties to serving a diverse client base and fostering strong relationships with clients.

The ethos of Roost Real Estate Company is discussed, highlighting the commitment to providing homes for all individuals, whether they rent or own.

The importance of system alignment and defined team roles within property management organizations to ensure efficiency and owner satisfaction is examined.

We touch on the intricacies of managing different property types, including high-end rentals and those that accept Section 8 tenants in the post-COVID landscape.

Key considerations for choosing a property manager are discussed, such as their legal awareness, broker involvement, and commitment to the owner's success.

We explore the internal program "Have I Earned a Five-Star Review Today?" aimed at maintaining exceptional customer service and its impact on managing property managers.

Chris and Gretchen delve into the practicalities of managing property managers, including monitoring online reviews and the importance of direct communication with property owners regarding rental income flow.

Transcript samples from key chapters provide insight into the conversation, including the significance of a property manager's understanding of their fiduciary and agency duties, and the necessity of broker involvement for successful management.

LINKS

Show Notes

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