Property Management Growth with DoorGrow

If you are frustrated by the support or lack of support from your property management software, you will be interested in this show. Today, I am talking with Nathan Miller, from Rentec Direct. The one thing I keep hearing about Rentec Direct is that they have fantastic customer service. This is really unique because we don't often hear that property management software has amazing support. If you want to know what makes great support or are in the market for new property management software, you might want to give this episode a listen. You'll Learn... [02:35] Nathan formed Rentec, in 2007, because he wanted to make landlords lives simpler [03:19] Nathan has a background in software development and he was also a property manager [04:59] In 2009, the free version of Rentec turned into a real company with additional functionality [06:11] Why someone should choose Rentec Direct they know the software and the rental business [10:08] Why Rentec is profitable and how they treat clients and employees [11:23] Number one challenge with software is getting people to use it [13:09] Fine tuning features to save time for property managers which creates huge cost savings [14:25] Many SaaS companies have a lot of inefficient clicks. Rentec was designed more like an application so that everything can be done with one click [18:24] How Rentec has the best support team and live chat [21:25] How they offer free migrations to help with the difficulty of switching property management software [23:55] Integrations and APIs to work with other software [26:20] Rentec Direct is cloud-based and can be accessed from a web browser Tweetables I couldn't find software to help me, I assumed there were other landlords with the same problems. We help property managers with the software and with the rental business. It's our goal at Rentec to earn our customer's business every month. Resources Rentec Direct

If you feel that you are an entrepreneur or think that maybe you are an entrepreneur, you should know about Mike Michalowicz and his books. If you are operating through standard accounting, GAAP accounting, or what Mike calls Frankenstein accounting, you are going to want to listen to this episode and how you can increase profitability. In this episode we are talking with Mike Michalowicz about his most popular book Profit First and how and why you should implement it in your business. I have implemented Profit First into my business and several listeners have reached out and said that Profit First is the secret to the growth of their property management companies. You'll Learn... [03:57] The pain that created Profit First [06:41] When Mike had to tell his family how he lost all his money being an angel investor [10:57] How Jason found out about Profit First [13:03] Why every business owner should apply the Profit First accounting method [14:15] How Mike is driven by the Profit First system to eradicate entrepreneurial poverty [15:48] 80% of entrepreneurs are struggling check to check [18:52] Pay yourself first isn't a new concept, but Mike applies it to business [21:37] The principles of Profit First and why GAAP is crap [23:10] Get started by setting up multiple bank accounts and paying yourself first [25:39] Parkinson's Law - we get the same results with less money [34:00] How business owners need to take care of themselves financially [43:53] Mike's other books The Toilet Paper Entrepreneur, The Pumpkin Plan, and Surge Tweetables The rich guy next door with the nice house & nice car is just one bad month away from losing it all. Entrepreneurial poverty is the dirty secret in most businesses (80%) and needs to be eradicated. No matter how much you make, without putting Profit First, your expenses will eat everything. The secret to innovation is limitation. Resources Buy Profit First on Amazon Mike's Books on Amazon MikeMotorBike.com

We're living in a Prime nation, more and more of us receive packages delivered to our doorsteps every single day. But with great convenience comes greater opportunity for crime: Statistics show that mail theft is on the rise. In this episode, we're joined by August Cement, tech guru at video doorbell company Ring. You'll learn how Ring is the future of doorbells, and how creating peace of mind is the most important part of protecting your properties. You'll Learn... [2:20] What is Ring and what are the features and benefits? [5:00] How Ring protects against package theft [8:15] Why peace of mind is more important than security [10:30] Integrating with home automation systems [13:00] The story of Ring's conception and why it's not a gimmicky product [14:55] Taking neighborhood watch to a higher level [19:05] How Ring helps property managers and tenants [26:40] Do you need to be tech savvy to use Ring? [28:00] Using Ring in extreme circumstances [29:35] What happens if a thief steals your video doorbell: Ring and customer service [33:50] Community interaction [36:00] Responding to a knock on the door from anywhere in the world Tweetables Ring is about maintaining a connection to your home, neighborhood, and family regardless of where you are in the world. Our product has brought to light how common crimes of opportunity occur. Samsung and Apple couldn't see that, but Ring did. It's simplicity that makes things genius. Resources Buy Ring on Amazon If This Then That Want to talk more about how Ring works and if it's right for you? Email neighborhoods@ring.com to get connected to August and his team.

Picture this: One of your tenants is making dinner and accidentally starts a small grease fire in the kitchen. No one gets hurt, but wading through the homeowner's insurance claim, the tenant's security deposit, and all the paperwork and red tape is completely overwhelming. IS there an easier way to deal with tenant mishaps? Brad Larson, CEO of Larson Property Management and a key player at the National Property Management Network has a solution. Learn how tenant liability insurance protects the homeowner, the tenant, and the property management team and how to begin implementing it in your business! You'll Learn... [3:00] What is tenant liability insurance? [4:45] How tenant liability insurance protects the homeowner, the tenant, and the property management team [6:45] Making a revenue by mandating insurance [7:50] The legality of tenant liability insurance [12:15] Opt-in rates and conversion rates for renewals [15:10] How tenant liability insurance saves property managers time [17:35] Frequently asked questions [19:10] Admin fees [20:25] Is there any reason why a property manager wouldn't want to implement this insurance? [22:40] Implementing peace of mind and using insurance as a marketing tool [25:30] The difference between renter's insurance and tenant liability insurance Tweetables The Single-family-home property managers are way behind the times. We're playing catch up. Prioritize what you want to implement. Do what's easy and what will make you money first. Resources National Property Management

Why do we at DoorGrow do what we do? In this episode you'll hear an interview with Sterling Davis, a property manager who saw his 60 door business grow to 300 doors in just six months after investing in our Seed Package. You'll Learn... [3:00] How Sterling Davis first got into contact with DoorGrow and why [5:40] "If you're serious, you'll pay it": Why investing in his business motivated Sterling [9:30] Creating a brand to sell with the right tools [12:45] The results Sterling achieved in his first 6 months [13:25] Portfolio and monthly revenue breakdown [16:30] Life after the Seed Package: Marriage, business, and finances [18:15] What would business be like without the Seed package? [19:15] Sterling's thoughts on the value of following the Seed Package and getting used to being uncomfortable [23:50] Breaking down what's included in the Seed Package and what benefits you can expect from following it Tweetables I'm not here to be a property manager. I'm here to get my doors up and make money. Successful Coachable Mindset: You're the coach, I'm the player, let's do this. How can you expect anyone to value your business and invest in it, if you're not willing to? Our goal isn't just to make money from people. We're in the business of making a difference. Resources Are you serious about growing your property management business? Check out our Seed Package, the ultimate foundation for property management growth.

Most property managers are DIY landlords– they have a whole other career besides renting out properties. For the DIY landlord, there can be an overwhelming amount of things to keep track of: Tenants, maintenance services, billing and accounting, and sales. How can we end the disconnect? Enter TenantCloud, a free property management software revolutionizing the way DIY landlords do business. In this episode we're talking with co-founder Joe Edgard about TenantCloud is going to completely disrupt the property management software world. Learn how TenantCloud works, the philosophy behind the services they offer, and why the company is one to watch in the next year! You'll Learn... [2:25] Why every property manager needs TenantCloud [4:30] How free software can be just as profitable as paid software [6:05] Identifying (and solving) the pain points of DIY Landlords [9:10] Syncing TenantCloud accounting with Quickbooks [10:32] How TenantCloud plans to surpass the other property management softwares on the market [16:30] Pricing and launching for enterprise and consumer customers [19:38] What à la carte services TenantCloud offers [24:15] How TenantCloud is an end-to-end solution for DIY landlords [26:50] Does TenantClould make professional property managers obsolete? [29:10] Talking about the competition: Cozy [33:40] Beta testing and focus groups for TenantCloud Tweetables TenantCloud allow you to show a property to a prospect virtually from your desk. We're thinking big when we talk about disrupting the property management software world. Everybody wants customization. If you think you've got one solution for everyone, you're wrong. Resources TenantCloud

Rekeying locks on your properties, after the tenant leaves, can get tedious and expensive, inspiring too many property managers to skip the rekeying process entirely, opening themselves up to an uncomfortable amount of liability. Enter Prempoint: A comprehensive messaging, access control, and automation software that allows property managers to manage and grant access to their properties remotely. In this episode we're chatting with Matt Hartley co-founder and CEO of Prempoint about the newest technology in property management-keyless access. You'll learn what the Prempoint technology is, how it works, and why you absolutely can't run your business without it! You'll Learn... [2:20] All about Matt Hartley's background and his work with Prempoint [4:40] The evolution of Prempoint as a company and their mission [7:35] What Prempoint is and why you absolutely need it for your properties [11:05] The interaction between tenants and Prempoint [13:25] How affordable is Prempoint? [16:00] Subscribing to Prempoint "points" [18:15] Discussing security concerns with Prempoint [22:25] How keyless access can build (or destroy) trust with your tenant [26:35] Being software agnostic: Why Prempoint outdoes the Rently competition [30:10] Software integrations [31:45] Why Matt Hartley doesn't worry about copycats [34:20] Are you in danger of being automated out of your job? [37:00] Understanding the devices and technology that Prempoint requires [40:20] Does Prempoint replace Sentrilock for relators that double as property managers? [44:35] Prempoint's launch date for managers with 1000s of doors [49:55] Benefits of keyless access for tenants [57:10] More from Matt Hartley [58:30] Connecting with the Home app on iPhone Tweetables If you've ever used Facebook, then you can definitely use Prempoint Prempoint is a software company. We are hardware agnostic Resources Want to talk to Matt personally? Send him an email: matthew.hartley@prempoint.com

How do you handle customers who never stop asking for a discount on your services? Learn how Darren Hunter, international property manager trainer and consultant, gracefully manages clients who ask for a reduction in fees and services. In this dynamic conversation we outline specific scripts and techniques you can use when haggling with clients, reasons why you shouldn't take on every client, and how to build trust between you and a client without smearing your competition. You'll Learn... [4:00] Why a property manager is not like a printing press: Avoiding discounts on multiple properties [6:30] Having confidence in your value to your client [8:28] "The Lure of the Main Game": Techniques for when a client wants to price match your management fees [19:10] How to handle other property managers pricing themselves too low [23:00] Who are C-Class owners? [26:00] Making a filter for bad clients [28:20] Scripts and techniques for dissuading landlords and vendors from asking for discounts [33:45] The benefits of having different price points for buyers [37:35] What to say when clients ask for a "small and simple" 1% discount [45:35] Why you can't afford to take on every client [54:00] The cycle of suck [56:30] A final script for battling property manager comparisons [58:00] Building trust by revealing the "dirty secrets" of your industry [1:01:30] Why studying Australian property management is interesting for Americans Tweetables If you believe you're worth it, your client will believe it too A C-class landlord is like a packet of cigarettes. They'll take years off your life You cannot afford to take on people that cannot afford you Resources Influence by Dr. Robert Cialdini "11 Wrong Property Types That You Should Not Manage" article by Darren Hunter The Pumpkin Plan by Mike Michalowicz Want more from Darren Hunter? Visit his website, connect with him on Facebook, or check out his resource library.

Noel Christopher, Senior Vice President at Renters Warehouse, shares his expertise in property management acquisitions. He discusses what big companies seek when buying properties and highlights common buyer mistakes. Noel emphasizes the importance of proper valuation and due diligence, warning against hasty decisions. He also reveals strategies to make a business appealing to buyers, the role of current employees in transitions, and how to navigate complex acquisitions. This insightful conversation is a must-listen for anyone in the property management field!

Learn how Daniel Madison,CEO of 4M Property Solutions, a residential property management company uses the techniques he mastered as a corporate sales manager to cold call For Rent by Owner prospects and close the deal. In this interview with Daniel Madison, you'll learn why cold calling is an essential tool for property managers, how to get over the fear of getting told no, and what to say in your conversations with your prospects. You'll Learn... [01:15] Why is cold calling important? [03:00] How Daniel got his first 50 doors with 4M Property Solutions [04:13] Identifying the pain points of for-rent-by-owner prospects [05:10] Why picking up the phone and calling people is the best way to generate revenue [06:48] Daniel's fool-proof script for cold calling prospects [09:06] The best way to get over the fear of interrupting someone [10:30] How to overcome the biggest challenge in cold calling: Finding a source of information [13:00] Ideas for types of questions to ask your prospect to identify their challenges [17:30] The importance of giving value to your prospects [17:19] They personalize the details of your maintenance call-handling with you [19:08] Daniel's number-one goal when cold calling a prospect [21:38] Getting into the groove of cold calling [22:13] Why you should create (and stick to) a follow-up process for your clients [24:17] Techniques for keeping track of A-grade tenants [27:07] Advice and tips for new property managers [28:20] Lessons learned from hearing "no" [30:34] How to inspire your team to have the right attitude for cold calling [32:55] Power phrases to know and use [36:40] Convincing a DIY- landlord that they need your services [41:30] Getting started in cold calling Tweetables The quickest, easiest way to generate revenue is to pick up the phone and call people. We all start on the level of suck. If you're not challenged in sales then you're not going to get better at sales. Resources Get a free trial and 25% off FRBO lead services:https://pmleads.com/doorgrow Free download of Daniel Madison's cold calling script: https://drive.google.com/file/d/0B1bo76y1mf3ARFNXMVMzX3lBSjl3cFJlT0RyZVo3bzNXNzFz/view?usp=sharing Want more from Daniel Madison? Give him a call at (864) 640-8877 or send him an email:daniel@4m-propertysolutions.com 4M Property Solutions:http://www.4m-propertysolutions.com/