I love offering listeners fantastic benefits, such as some great discounts for products, with new offers coming all the time! You can see a complete list at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.
Are you looking at other software platforms, and enticed by the shiny new offerings? If so, this is absolutely the episode for you. I’m joined today by Andy Ritan to talk about his software switch, including all the trials, tribulations, and lessons learned in the process. Andy, a long-time friend, is an Atlanta-based property manager with about 240 doors, and today we’ll be doing an after-action review for his software switch.
Andy switched from AppFolio to Rent Manager, and then actually switched back to Appfolio. He points out that the initial switch out of AppFolio was complicated since AppFolio owns its data and doesn’t offer a simple way to export or transfer it. Instead, you need to do it all manually. Andy recommends using outside labor to do this migration process rather than using your own team.
The reason that Andy decided to switch from AppFolio to Rent Manager was to find the best API in the business. (And even now that he’s back with AppFolio, he still suspects that Rent Manager has the best API.) Despite doing an extensive amount of research before making the switch, Andy had what he calls a “dreadful experience” and the worst business decision he’s ever made with Rent Manager.
Don’t miss this episode, in which we’ll give a deep look into the pros and cons of these two platforms, as well as the process of switching back and forth between them. You’ll also learn exactly what prompted Andy to switch back (which involved a case of fraud thanks to a lack of two-factor authentication). We hope this conversation helps you to make the decision about whether to switch platforms, and understand why doing your due diligence sometimes isn’t good enough.
Show Notes
[02:17] - Brad welcomes listeners to today’s conversation with Andy Ritan, a property manager from the Atlanta area.
[04:44] - Andy offers listeners some background into who he is and what he does.
[06:30] - To start things off, Andy digs into the initial exit from AppFolio, which was complicated since AppFolio owns its data.
[09:25] - Your existing staff probably isn’t the best choice for data scraping when leaving AppFolio, Andy points out.
[10:42] - What initially convinced Andy to leave AppFolio and move to Rent Manager instead?
[14:48] - Andy talks us through some of the research that he did when he was deliberating over his choice to switch.
[17:00] - We hear about Andy’s “dreadful experience” of using Rent Manager from his honest perspective.
[20:15] - Brad and Andy elaborate on the point about needing to get off the phone, do research, then call the owner or tenant back because the system was so slow.
[22:50] - Andy talks about the reconciliation process in AppFolio, and shares two problems that he had with it in Rent Manager.
[26:31] - We hear more about how Brad works with AppFolio.
[29:42] - Andy defines the triple tie, and explains why he prefers AppFolio for this purpose rather than Rent Manager.
[34:24] - Andy spends some time talking about owner statements.
[37:00] - Andy explores the limits and costs of customization that he saw in the Rent Manager platform.
[40:16] - We learn more about two-factor authentication and how it has worked for Andy at Rent Manager and AppFolio.
[44:12] - Andy explains that the fraud incident that he just described was the final straw that sent him back to AppFolio.
[45:56] - Brad mentions that a workflow management system is absent from all of the systems available now.
[48:09] - Andy sums up the experiences that he has been talking about today.
[52:03] - Brad shares some lessons that he’s learned from this conversation.
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
Ritan Property Group on LinkedIn
I love offering listeners fantastic benefits, such as some great discounts for products, with new offers coming all the time! You can see a complete list at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.
Ruth Rossbach from FilterEasy joins me today for a very important reason: to finalize the debate of whether pineapple belongs on pizza! (The answer: there absolutely shouldn’t be pineapple on pizza. Ever.) Of course, there’s not enough to say about that to fill up a whole episode, so we’ll need to talk about other topics as well.
Ruth has worked at FilterEasy since April 2017, and is a regional sales manager covering areas including Phoenix, Utah, and Nevada. She grew up in Raleigh, and wanted to work for a locally based company. She also wanted to be part of a company that provides solutions and reduces stress for tenants and managers, so FilterEasy was a perfect fit for her.
As she explains today, usually only 5% to 10% of tenants change their filters on time. When FilterEasy gets involved, that number skyrockets to over 90%. This lengthens the life of the HVAC system, so property managers and owners alike love it. It’s also always cash flow positive for property managers thanks to the pricing structure that Ruth will explain in detail in today’s conversation.
We also dig into various other topics related to FilterEasy including who should cover the cost, how owners and tenants tend to react and respond, the way that the sign-up and implementation process for FilterEasy works, how the timing works on FilterEasy’s billing strategy, and more. If you’ve ever wanted an air filter solution that works for the tenant, the owner, and the property manager, don’t miss this episode!
Show Notes
[01:36] - Welcome to the show! Today’s guest is Ruth Rossbach from FilterEasy. She and Brad chat about whether pineapple belongs on pizza.
[03:18] - Ruth talks about who she is and what she does.
[05:35] - What is FilterEasy, what can they do for property managers, and what does Ruth do with them?
[07:37] - The filters are date/time stamped, Ruth explains, so you can hold tenants accountable.
[08:40] - Ruth digs into best practices for getting FilterEasy the measurements they need to supply the right filters.
[10:37] - We learn about FilterEasy’s pricing structure, and why it’s always cash flow positive for the property manager.
[12:47] - Ruth talks about what she commonly sees with implementation to reduce costs for the tenant. Brad then mentions the option of billing it to the owner, who gets benefits in reduced HVAC costs.
[16:02] - Brad shares another point about the option of charging the owner, and reasons why it might not go well.
[20:29] - What kind of platform do users go into to enter their information when getting started with the FilterEasy system?
[22:55] - We learn about how billing works for property management companies in terms of timing.
[24:30] - Does Ruth have any success stories that she wants to talk about?
[27:08] - Brad points out some things you need to keep in mind when you’re adding things into your lease agreement.
[30:14] - We hear Brad’s response to Ruth’s point about owners forgetting to change their own air filters.
[30:59] - Tenants will get an email reminder when their filters get sent out, Ruth explains.
[32:33] - What’s the easiest way to get in touch with Ruth and start using FilterEasy?
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
I love offering listeners fantastic benefits, such as some great discounts for products, with new offers coming all the time! You can see a complete list at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.
Matt Hoffman, who works with RealPage and is the head of short-term rentals for Kigo, joins me to talk about the short-term rental market works. What’s interesting about Kigo, Matt points out, is that they can leverage and benefit from all of their knowledge and expertise in long-term rentals as they build technology to advance the short-term rental side.
The short-term rental market and the long-term rental market are in conflict, so Matt’s position in spanning both offers him an interesting perspective. He’ll elaborate on this, and explain that the typical short-term rental owner is someone who vacations regularly or doesn’t live in the home full-time, and wants to rent out their home while they’re not present. His software, he explains, is geared toward both DIY landlords and short-term management companies.
Matt will also dig into whether you can run short-term rentals as a brand, or whether you need an individual person to do it, and explore the sweet spot for number of nights rented in short-term rentals. Importantly, he’ll also share his thoughts on the question at the top of all of our minds: what if short-term tenants do damage?
Other topics we’ll cover include reviews (which go both ways), check-in best practices and automation, how insurance might work for short-term fully furnished single-family rentals, the increasing number of regulations governing short-term rentals, and more! Matt also shares some powerful words in his final takeaway for listeners who are considering entering the world of short-term rentals.
Show Notes
[01:39] - Brad introduces today’s guest, Matt Hoffman, and explains that the episode will be all about how the short-term rental market works.
[03:21] - Matt gives an intro to who he is, what he does, and some background on what he’s been doing with short-term rentals.
[05:16] - We hear Matt’s thoughts on the differences between short-term and long-term single-family rentals, as well as the impact of the local market.
[07:27] - Who typically owns a short-term rental?
[09:03] - Matt talks about who is software is geared toward, and shares some things that he would tell a single-family-home property owner or manager to encourage them to go down this road.
[13:32] - Brad takes a moment to go over some math that illustrates the potential profit and costs in short-term rentals.
[15:31] - Does it work to assign a portfolio manager to run the short-term rental department?
[18:45] - We learn about whether it’s better to be a superhost on short-term rental sites, and how that works when you’re a brand rather than an individual.
[21:20] - Matt talks about how Kigo is different from other property management softwares.
[26:21] - What do you do when the short-term tenants leave a lot of damage when they depart the property?
[30:18] - Matt shares his thoughts on the mindset shift in terms of price, getting good reviews, and so on.
[32:50] - Brad points out that reviews work both ways.
[37:45] - Does Matt’s software integrate into all the well-known short-term booking sites?
[40:20] - Matt talks about insurance issues for a short-term rental unit that’s fully furnished.
[43:12] - We hear more about legislation and the increasing regulations governing short-term rentals.
[48:15] - Matt offers one takeaway for listeners considering the world of short-term rentals.
[50:56] - Which market really wows Matt?
[52:14] - Matt talks about where listeners can find him and Kigo.
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)