In this episode of Property Management Mastermind Show, your host Brad Larsen and his guest Christopher Clothier discuss the importance of customer service in the property management industry, what makes a property management company such as Christopher's effective, how Christopher's company came out stronger as a result of the COVID-19 pandemic, and so much more!
Christopher will be speaking at the Property Management Mastermind Conference (PPMCON) the afternoon of Friday, May 21st. He is a partner of a family-owned company called REI Nation that has been around for almost twenty years, starting in 2003 as a company that would buy, renovate, and sell property to investors who wanted to own said pieces of property on a long-term basis, and they now manage properties in eleven different cities across the southeastern part of the United States. What’s even more is that they expect to exceed 7,000 properties this year!
Despite all of his impressive success, however, Chris is nothing if not humble. He credits people who have taught him along the way such as his father. He also announces that he still feels that he has a lot to learn and can't wait to listen to and learn from other attendees of the upcoming PMMCON! Be sure to check out his wonderful book, The Turnkey Revolution!
**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX. For more information, go to https://pmmcon.com/.
In this episode:
[2:30] – Welcome to the podcast, Christopher!
[2:46] – Chris shares his background and experience with us.
[5:46] – Brad enthuses over Christopher's upcoming presentation at PMMCON.
[7:13] – Chris closes further in on how his company is a customer service company which makes effective management crucial.
[8:17] – Chris lists off the basics of what makes his company a good company – great communication and accountability and making sure that they follow up on promises and commitments.
[10:29] – We learn how the COVID-19 pandemic has affected and changed REI Nation, as well as how the company endured despite the uncertainty and difficulty.
[13:40] – Chris reveals that a lot of the rules put in place because of the pandemic – such as contactless arrangements – were already being done by the company because of how expansive across regions that they were.
[16:01] – Brad compliments Chris on how impressive the success that he maintained during the pandemic is.
[17:27] – The COVID-19 pandemic allowed Chris and his company to be proactive rather than reactive.
[19:55] – Brad shifts the conversation toward the upcoming PMMCON, and Chris shares that he is most excited about listening to and learning from others at the conference.
[22:19] – We hear ways that we can get in touch with Chris outside of the conference.
[23:09] – Chris discusses and describes the premise of his book, The Turnkey Revolution.
[25:02] – Thank you for being on the podcast, Chris!
Find Christopher:
Links and Resources:
Property Management Mastermind
PPMCON
Today your host Brad Larsen and his guest Matthew Dixon discuss changing the mindset around the customer experience, the books he's written, and what he will be speaking about at the Property Management Mastermind Conference, plus much more on this episode of the Property Management Mastermind Show.
Matt is the Marquee Speaker at PMMCON and has written three books, The Effortless Experience: Conquering The New Battleground For Customer Loyalty, The Challenger Sale: Taking Control of The Customer Conversation, and Machine Learning in Finance: From Theory to Practice. Matt has a Ph.D. in Political Economy and has studied Technology Transfer in the Aerotech Industry, but decided he wanted to take skills and focus on big companies' and their big problems and help them grow more effectively.
Listen, as Matt shares the research he did into customer service and what makes the customer happy. He also talks about the two big takeaways he got from his research, which were surprising. Matt believes that making the customer experience effortless goes, and he will dive deeper into this concept at the conference.
**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX. For more information, go to PMMCon.
In this episode:
[02:52] Welcome to the show, Matt!
[03:45] Matt shares his background and what he brings to the table.
[07:07] Matt speaks about property management, getting renewals, and keeping the properties they have.
[08:55] Brad shares some differences in the property management industry in the different markets.
[09:45] Matt discusses when it's good to delight customers and create the raving fan and when it's not.
[11:22] In moments of truth, it's not enough to fix the problem. You have to do more than what the customer expects; you create a customer for life when you do.
[14:14] Matt shares the two big takeaways from his research on exceeding customer expectations.
[17:36] The key thing is that you have limited resources; delight your customers where it makes the most sense.
[19:22] Brad shares some ways you can make the customer service experience effortless.
[22:38] The actual value of what Matt has done is that they could identify companies that were doing things differently.
[25:04] Look for Matt at PMMCon in May!
[26:30] Thank you for being on the show!
Find Matt:
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
Today your host Brad Larsen and his guest Phil Mazur discuss The CFO Mission, working with RentWerx and implementing their EOS system that Phil helped with and the changes that have seen over the last two-and-a-half years, plus much more on this episode of the Property Management Mastermind Show.
Listen as Phil and Brad discuss the issues RentWerx had two-and-a-half years ago because some poor hires and lack of good people keep the checks and balances in place. After looking over the accounts and seeing what was wrong, they dissected the problems and began fixing them piece by piece. Brad also hired a local accounting firm to help put together procedures that would integrate with the systems they already had.
Phil and Brad talk about EOS, Phil being an EOS Implementer and the benefits of having an EOS system in your business. Phil shares what you can expect from your EOS system and what the role of an implementer is. EOS has twenty tools, and the beauty of the tools is that these are what make decision-making simple.
Remember to register for the Property Management Mastermind Conference, where you will learn more about EOS from Sue Hawkes on the main stage and in the much smaller group meetings.
**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX. For more information, go to PMMCon.
In this episode:
[02:07] Welcome to the show, Phil!
[03:44] Phil shares how he fell into property management accounting about seven years ago.
[05:57] Phil speaks about being a virtual CFO.
[07:18] Listen as Phil shares where RentWerx was two-and-a-half years ago when they didn’t have good checks and balances in place.
[09:43] They slowly dissected what was wrong and then began fixing the company piece by piece.
[11:46] Phil talks about learning how Brad’s operation ran before he could tell how the accounting was done.
[14:17] You don’t have to do everything in-house; you can outsource some procedures.
[14:55] Phil speaks about integrating the NARPM Accounting standards.
[16:20] Phil discusses hiring and then hiring again for the accounting coordinator position at RentWerx.
[20:29] Phil talks about some issues that came up once they had some processes in place.
[22:57] Brad shares a decision point example.
[25:02] Phil speaks about the EOS system that was integrated into RentWerx.
[28:33] Brad says that the EOS system empowered the team and gave the key leaders an outline of running the business themselves.
[30:35] Phil wants to talk about the role of an EOS Implementer.
[32:22] EOS is a process because it is a business system.
[33:04] The biggest value Phil provides as an implementer is to catch you in the act of getting off track.
[35:19] Phil talks about what they accomplish in their annual strategic meeting.
[38:05] If your mission statement or core focus isn’t working for you, Phil can help you with that.
[41:08] Brad shares one of his goals for the first quarter of this year.
[43:37] They assess each of their goals with a yes or no to see what they have accomplished.
[45:51] EOS has twenty tools, and the beauty of the tools is that this is where you make decision-making simple.
[47:56] Brad feels so strongly about the EOS system that he has added it to the PMMCon Conference this year.
[49:41] Phil’s passion is to bring a CFO to every small business.
[52:01] Thank you for being on the show!
Find Phil:
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
Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today's guest is Sue Hawkes, a best-selling author, an award-winning leader, a certified EOS Implementer, certified business coach. Sue brings over thirty years of business experience to her clients by helping CEOs and their leadership teams succeed. Sue will be speaking at the Property Management Mastermind Conference about the benefits, features, and cool stuff behind EOS implementation.
Sue shares what an EOS system is by saying it's an operating system that helps you do the work you do best and helps you organize your business around three main distinct things, vision, traction, and healthy. Listen as she explains how these three things combine to create a functional, healthy leadership team, and your business serves your life rather than you being a slave to your business.
Listen as Sue speaks about what is involved with implementing their EOS System and why the first six months is the hardest. She talks about self-implementers and how they usually always ask for help and the various businesses and industries she has implemented the system in.
Sue is the Keynote speaker at PMMCon and shares some of what you will hear when you attend her talk, and Brad shares some of the other speakers and why he structured the conference the way he did. Have you registered yet? May is almost here, and you don't want to miss this conference.
**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX. For more information, go to PMMCon.
In this episode:
[03:05] Welcome to the show, Sue!
[03:52] Sue defines an EOS as an operating system that helps you do what you do best.
[05:42] Sue shares her background, her blended family, and how long she has been doing EOS.
[07:02] Sue speaks about working in a property management company when she graduated from college.
[09:52] Brad discusses when RentWerx implemented an EOS system and how it has added value to the company.
[11:54] Sue talks about the work involved in implementing an EOS system and how the first six months is the hardest part.
[13:54] Sue shares the series of meetings, annual meetings, and the things they do consistently to help while implementing EOS.
[16:31] Brad shares how he thought he could implement the system himself without help, but how wrong he was.
[18:15] Sue speaks about how the third-party implementor usually ends up going in and helping the self implementer.
[21:24] Listen as Sue shares the industries and businesses she has implemented the system into.
[24:12] Sue talks about her podcast, book, and YouTube content creation.
[26:16] The name of her podcast is Intentional Greatness.
[28:02] Brad shares how he has arranged the speakers for PMMCon and why he did it that way.
[31:19] Sue speaks about some fun tools they have.
[34:31] Sue and her team will be available at the PMMCon conference to talk to you and answer any questions you have.
[35:27] What have you implemented in the last twelve months to improve your business?
[37:39] Sue shares about her book called Chasing Perfection: Shatter the Illusion; How to Minimize Self Doubt & Maximize Success
[40:26] Sue will be speaking on Thursday morning, May 20th, at PMMCon at the Gaylord in Grapevine.
[40:57] Thank you so much for being on the show!
Find Sue:
Sue Hawkes
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
Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today's guest is Peter Lohmann from Columbus, Ohio. Brad reached out to Peter recently because he put out some great information online about alternatives to security deposits. Brad wanted to continue the conversation, so he brought Peter on to talk about security deposits, preferred tenant programs, and some vendors who are in the space.
Listen as Peter shares the research he has done on preferred tenant programs and dives into detail of the key players in the space and the models they use. Peter also discusses the alternative products to security deposits and the incentives for property management companies to implement their programs.
Peter and Brad discuss why they are against security deposits and how the law is usually swayed toward the tenant even when the evidence doesn't back the decision.
Peter talks about how credit companies have different products for different industries, and Brad speaks about the collection rate percentages from outgoing tenants.
Peter shares what he has implemented in his company over the last twelve months that he is excited about and a book that he believes everyone should read called The 4 Disciplines of Execution. Peter believes that if you follow the guidelines set in this book, you can change your organization for the better in a short amount of time.
**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX. For more information, go to PMMCon
In this episode:
[02:20] Peter shares his background and company.
[05:18] Peter speaks about the research he has done on preferred tenant programs.
[07:54] Peter dives into details of who the players in the space are and the models they are using.
[10:06] Peter speaks about Surety Bonds as an alternative.
[13:22] Peter talks about how the tenant views insurance and why it's called a moral hazard.
[14:40] Peter discusses the three big players with new products that are alternatives to security deposits.
[17:44] Peter talks about the concerns with some groups and whether they are profitable.
[21:10] What are the incentives for the property management company to implement some of these programs?
[24:41] Brad talks about why he is so against security deposits.
[25:37] Peter shares a story about something that happened to his company in Ohio.
[28:57] Brad says that the judges don't follow the laws and usually rule in the tenant's favor at the justice of the peace level.
[31:55] Peter says that Zillow lists the jurisdiction, city, or state laws where you are looking to rent.
[34:06] Surety bond companies are not charging enough to cover the losses over time.
[37:21] Brad discusses the collection rates from outgoing tenants.
[39:03] Peter talks about the credit score issue and the products they create for different industries.
[42:19] Peter explains why it matters to property management companies with whom they partner with.
[44:12] Can you tell us one thing you have implemented in the last 12 months that benefited your company?
[47:22] Brad shares something his company just recently did.
[50:30] Peter talks about giving their new property owners a good deal and raising the rates for existing property owners.
[52:10] Brad speaks about having an owner's handbook and ties your property management agreement to the handbook.
[53:55] Peter talks about a book that gives some great ways to make changes to your organization called The 4 Disciplines of Execution.
[57:16] Thank you for being on the show!
Links and Resources:
Security Deposit Alternatives & Tenant Screening Innovation
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