We are starting a new property management business with 2 other people. My boss has asked me to give him some new processes to bring into this new business as a property manager. Do you have any suggestions?

Thanks!

Offer smoke detector testing and furnace filter changes. You can put In a lease the tenant must do but your kidding yourself if you think they do. This also puts you in the property to check things out.

1) Define the process for getting tenants on auto pay

2) Create a list of proactive things you would do as preventative maintenance twice a year …that could be just a few items or an exhaustive list

3) Develop a “tiered” pricing structure for your services. For example, if a customer spends $2,000 per year they would get a 10% rebate at year end.

4) oOffer to do in-home visits as part of tenant screening

5) Offer to do seasonal reminders to tenants….for example they should unhook hoses from hose bibs when freezing weather arrives each winter

6) Send out rent increase announcements annually

7) Develop a tenant retention program to keep the best tenants longer

8) Create a short list of metrics that show progress against goals, such as unscheduled service calls or on-time rent payment percentages

do you have to have a real estate license to manage for others in KY?

Curious: did u just sit around one day and say-- lets be property managers.

You will need to have a Business License, A Brokers License, Business Insurance, a partnership agreement (if someone is lazy and doesn't put in their fair share of time, then the get a reduced shares of the profits).

And a clear understanding of each person's roll.

Jeffry's boot camp is all about processes.

I understand the whole thing, some people are just rude!!!

I’ve been a property manager for 3 years but we’re looking at a website, new spreadsheets, new forms… there’s 4 LLC s turning into 1 business name.

To be fair, Tonya - your original message is very vague and doesn't give any indication whatsoever what your current procedures are, if any. It didn't sound as if you understand anything.

People are trying to be helpful.

If you do not have a website, and none of you is a coder, I highly recommend weebly. Get the one where you pay just a little to not have "weebly" as part of your web address.

Even if you don't optimize it for searches (yet), a website is very useful for:

Use it in advertising

Establishing the business as legit.

Posting photos/videos/information for available properties.

Forms, sent to your email - for potential customers as well as current tenants to contact you & submit repair requests, etc

There are Many free photos & clipart online that you can use on your site.

Be sure to include the fair housing symbol

Search this website & forum to find a WHOLE LOT of other things to use as standard operating procedures.