Do you have a no-touch leasing management system in place? Listen, as your host, Brad Larsen shares what they have done at his management company RentWerx to create just that kind of system. He is going through the entire life cycle of managing homes in a no-touch world in this episode of Property Management Mastermind
Brad discusses the beginning life cycle of no-touch leasing, which starts with owner interaction, and the benefits of showing vacant, move-in ready homes only. He also shares what can happen if you show and pre-lease occupied homes, the pitfalls from messy properties to renters wanting to hold over, and the issues that come from that. Brad believes that vacant, move-in ready homes will rent faster.
Brad speaks about no-touch showings and the safety benefits of them, what ghost showings are, and how online applications can work for you. He discusses getting a tenant moved in, the resident benefits package they have, and what it includes. Brad also describes the no-touch way that his company re-keys doors, does inspections, move-out, and how they finalize the security deposits.
With the current situation with the pandemic, the focus is on keeping everyone as safe as possible, and no-touch is the way to go. Because of the safety benefits and just plain convenience, it’s a system that has been and will stay in play for RentWerx going forward.
If you have had questions about how your company can do no-touch leasing, you definitely need to listen to this episode.
Show Notes
[01:49] Welcome to the show!
[02:02] Brad discusses what they have done at RentWerx to create a no-touch leasing management system.
[02:38] Brad shares the beginning of the life cycle, owner interaction, and the go-around to meeting them in person.
[03:25] Brad speaks about leasing homes in a no-touch situation, which starts with the showings.
[04:07] They market move-in ready homes only and the reasons for that.
[06:32] Brad chats about tenants that hold over and the issues that can cause if you have already leased the property to a new lessee.
[09:01] If you market a vacant, move-in ready home, it will arguably rent faster.
[09:45] How can you conduct showings with an unoccupied home?
[12:40] Follow up is always recommended once the showing window is over to make sure the property has been closed up properly.
[13:41] Brad discusses the safety factor of no-touch showings and how they can keep agents safe.
[17:11] Do you know what ghost showings are?
[19:36] Brad speaks about online applications and how they benefit everyone.
[21:54] He shares that next, they send out an approval email that includes the draft lease agreement.
[22:56] Brad chats about the preferred tenant program they use and the system they use to collect security deposits.
[26:22] How do you track your adverse action letter?
[28:14] Brad speaks about DocuSign for lease agreements.
[30:01] He shares how they get a tenant moved in and their Residents Benefits Package.
[33:00] Brad chats about rekeying the property before the tenant moves in.
[36:23] In this no-touch environment, how are you doing repairs? Periodic and renewal Inspections?
[39:35] Brad discusses the no-touch move out system they use.
[41:23] RentWerx finalizes their security deposits by regular mail.
[44:15] If they forget to send you an email that shows when they moved out, you can charge them extra days of rent.
[44:50] Thank you for listening today.
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
NARPM Southern States Conference
Was your management company prepared for the mandated stay at home order? Listen as Brad and his guest, Tony Cline, discuss why his company was already working from home on this episode of Property Management Mastermind Show. Tony is running the Home Vault Property Management office in Denver, Colorado, he is an ultra runner of fifty to one hundred mile runs and a commissioner for the Arvada Urban Renewal Authority.
Tony shares that his company has been working from home for the last three years, so the work from home mandate changed nothing for them. He also speaks about videoconferencing and how his team was proactive with their communication and messaging with their landlords and tenants.
Brad and Tony chat about new technology they see that will help property management companies, why Brad's team has been looking at procedures and policy changes that will keep them relevant in the next thirty-six months and the belief that with technology, anything you can think of someone is probably working on and just trying to figure out how to make it profitable.
Listen as Tony shares his passion for being healthy and how important diet and exercise are when dealing with the stress, the marathons he runs, and what sparked his desire to get fit. Brad speaks about the Property Management Mastermind marathon he has organized that will include a mastermind session, a half marathon, and a full marathon.
If you are looking for a new perspective on working from home, new tech, and best practices for your business, you won't want to miss the information that Brad and Tony share, so grab a smoothie, relax and hit play.
Show Notes
[02:13] Tony, thank you for being on the show today.
[02:26] Tony shares a little about himself and his background.
[05:06] Tony discusses the switch they made three years ago from working in an office to working from home and how prepared they were for the COVID-19 restrictions.
[07:33] He speaks about the challenges he faced when they transitioned to working from home and how productive his staff continued to be.
[10:37] Tony chats about some video conferencing apps that he recommends.
[12:43] Tony discusses being proactive with their communication and messaging with landlords and tenants.
[15:31] Do you see websites becoming more comfortable to navigate?
[17:01] Tony speaks about interactive messages to make things more personal.
[18:44] Brad predicts that doorbell cameras will have facial recognition capabilities to allow unassisted property showings.
[19:59] Have you been able to develop any key performance indicators from your work from home team?
[23:51] Do you believe that having team members work from home is a mind shift?
[25:36] Tony shares policy procedures and policy changes they have made to be relevant in thirty-six months.
[27:38] Tony believes that as far as technology goes, anything you can think of someone is already working on.
[28:42] Brad and Tony talk about working on contactless leasing and move out capabilities.
[31:38] Tony discusses how years ago, tenants had no voice and how the internet changed it and gave them a voice.
[34:57] What interesting technology service apps do you see coming soon?
[37:18] Tony believes that these services will provide more revenue and a benefit to the tenants.
[39:40] Tony shares his thoughts on Property Managers' health practices and the importance of using exercise to handle stress.
[42:47] Brad discusses how the Keto diet has worked for him.
[43:30] Brad chats about the Property Management Mastermind session plus the marathon they have scheduled Saturday, November 7th, in Savannah, Georgia.
[45:21] Tony speaks about the best practices webinar from the Home Vault Academy.
[47:25] Tony, thank you so much for being on the show today.
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
NARPM Southern States Conference
National Apartment Association