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How To Create More Value for Owners

January 10, 2022

Improve Property Management Service Value

Opportunities to build value present themselves continuously.  2023 won’t be any different.

Talk of lower rent prices, falling asset values, rent default and low affordability, falling new construction, staff shortages and higher wages, tax issues, rising financing costs, and more might deflate both property managers and landlords.

Yet property management firms are in the business of creating customers, delivering services, and enhancing landlord owner asset values, whatever the situation.  If you want to grow a landlord’s asset value while improving your own profitability in the process, it just takes imagination (or perhaps a new business model).

You may already know how you could help them reinvent or improve their business, but just lack a little pep talk to get that set in motion. The benefit for you is a better client and potentially more revenue for your company.

With powerful property management software, you have the opportunity to improve service delivery, increase business intelligence, streamline operations, and improve new lead generation. Apart from financing, this software offers tremendous value in itself in professional level property management.

With your top goal of creating more value, let’s look for ways to achieve it.

Thinking Like an Owner

You’re the perfect person/firm to help landlord owners with ROI, tenant experiences, cash flow, and new property investment decisions.

The beauty of thinking more like an owner is that you have insights into what’s working and how technology, staff skills, and a polished tenant experience can achieve.  There are landlords who are behind the times, some of whom you already serve.

If you don’t have the slick system in place to serve landlords better, then it’s wise to establish that now. ManageCasa is the perfect all in one platform to help you optimize all aspects of their rental properties and tenants.  Definitely, take a close look and speak to our sales team.

15 Key Ways to Add Value to Landlord’s Business

Weigh these 12 great ways you can help your clients understand their asset values and grow their wealth and cash flow:

  1. understand landlord’s goals for 2023.  Profit, cost-efficiency, growth are tops with excellent tenant management next. The objective is cash flow protection, asset value, and growing revenues. How will your services feed into those objectives?
  2. get to know their investment & asset portfolio, and ROI intimately. How do these assets compare with others? How do they really feel about them, and what do they believe they should do? Ask about their goals, expectations, financial constraints, tax burden, fears, and forecasts. Pry into their business so you can see better where you can add value and help them with buying/selling decisions. Without insight, it’s difficult to predict what will work to raise their asset value.
  3. understand their business model.  Many don’t even understand business models, but they still have one. Are they owning the right properties? Are they targeting and recruiting the right tenants? Are they facing huge rehab or repair costs? Are they preparing to add amenities and digital services to grow revenue? Are improvements going to help raise rent income? They need your help to navigate business strategy.
  4. maintain asset values (wealth) — help owners with maintenance plan, rehab planning, purchases of HVAC, appliances, flooring, upgrade options, energy conservation strategy, insurance, utilities, tax management
  5. adopt new technology – depending on your situation, you can introduce a new software to deliver more service and easily scale up for more doors. From iOT to smart homes and keyless entry, to digital pay per use amenities, technology can be a game changer in raising revenues and attracting better tenants.
  6. improve communication with owners — do more than an occasional phone call because you need more accurate information about their willingness to improve, learn and grow, evolve their property portfolio, and then how to position your own property management services to add value. Casual chatting and listening too are two fundamentals of being a advisor/consultant.
  7. position yourself as trusted advisor/consultant — a competent manager is what they look for, yet they need more. Be that special advisor and you’ll better protect your relationship and future business with them. Considering the complexity of property investment and management today, they need your expertise. It’s a branding thing that positions you as more likely to grow their asset value.
  8. use financial software to provide revenue and profit forecasts — advise them on adopting financial forecasting solutions to get the specific wealth/profitability goals met.  They will see that certain properties and markets are better to divest to find others that will perform better.
  9. speak the language of finance — read up on property financing and what’s happening in that industry. Read rental management books to understand investors goals and terminology.  Use ManageCasa’s financial reporting tool, filter transactions by property, type and date to access insights and uncover patterns and trends, along with the most profitable assets, tenants, and property services.
  10. be the local expert —  your knowledge of fair Housing, Local, State and Federal Laws, along with trends in local demand are vital to owners who don’t have the time and who may run into some costly errors.
  11. be a Proptech expert —  know how important new software technology, apps and iOT connected systems can save money, extend services and increase benefits, optimize operations, and reduce costs.
  12. do more than the usual day to day admin — Don’t just be administrator, be innovative in thought, so owners see the path to better returns. Owners are looking to your leadership.
  13. get to know your tenants better —  hold a tenant party or get together so you can learn more about them and what they might like and get them engaged via your tenant management software — know what your managed properties look like to tenants, because it’s all about the tenants. Owners have shallow insight into their tenants picture of value and their intentions.
  14. be more strategic about how you’re going to keep your tenants leased — use the insights from ManageCasa’s reporting tools to keep on tenant tenures. Discover which amenities/benefits/discounts will aid in the landlord’s leasing strategy.
  15. find specific tactics to grow ROI.

Powerful Property Management Branding

We think like owners“, is a fairly powerful slogan and it’s the hallmark of a powerful property management company. Owners see quickly that you can focus in on what they really want to achieve, not just on collecting rents, and will take an active role in their investment goals.

Such a branded message tells them they’re in good hands and that you’ll continue to foresee threats and consistently grow value over time.

It’s one of those big picture perspectives that makes the details magically align and makes your work easier.

Find out more about finding new owners and building asset value with ManageCasa’s excellent tools . Contact uf for a FREE property management software demo.

 

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Additional Property Management Resources: Rental Management SoftwareTenant Management Software | Property Management Business | Cut Costs | Reduce Expenses | Grow Rental Revenues | Start Property Management Company | Berlin Housing Market |  ManageCasa vs Buildium vs Appfolio | Rental Property AccountingHawaii Property ManagementCloud Property Rental Software |   Property Management Accounting Software | Property Software Reviews Ratings

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