As the New Year continues in full swing, you might be strategizing on how to build new profit streams within your property management business. You might also be wondering how to do that while still having a semblance of free time to enjoy the year.
As an entrepreneur, you probably know that more free time doesn’t usually coincide with more profit. But, the two don’t have to be mutually exclusive. Property Management companies are starting to use a model that cuts down time spent on maintenance by 80% while increasing annual profit by an average of $18,000/year for every 100 units managed.
This brings to life two very exciting questions:
- How much could my business grow this year with this much new profit?
- What do I get to do with all of my extra free time?
How’s it done? Watch the video below:
Staying Ahead of the Industry Trends:
Latchel’s 24/7 Home Assistant Program uses the same strategy some of the biggest multi-family property management companies have been using for years. By implementing the program’s resident benefit package, residents can have the experience that typically only residents of high-end, luxury buildings get the perks of, for only a small cost to the resident. As a property manager, you implement the service at ZERO cost to you, AND turn a profit while spending significantly LESS time dealing with around-the-clock maintenance calls, submitting work orders, sourcing vendors, scheduling jobs, following up, and dealing with invoicing.
What Exactly Does the Resident Get?
Residents who are a part of Latchel’s 24/7 Home Assistant program have premium on-demand access to any of their needs for their home. Any time they have an issue, they call into a dedicated Latchel line where they’ll reach someone in seconds. And, not just any someone – one thing that makes Latchel’s maintenance call center different than most is that it’s compiled of a 100% US based team of former property managers who understand how to troubleshoot maintenance issues, many times saving the time and cost of dispatching a vendor.
Residents also get automatically enrolled in Latchel’s Security Deposit Protection Plan. As a part of this plan the resident is protected from unnecessary deductions from their deposit at the end of their lease terms. This plan also protects the property manager from being fined in court for misusing deduction funds.
Unmatched Transparency In the Process
Many times outsourcing a portion of your business to a third party company can be scary, you feel like you lose control. Though, with Latchel’s software built for transparency, you’re given access to make any changes you feel necessary in the process of your maintenance operations. You’re also given e-mail and SMS updates through all parts of the process so you can always know what’s going on in your properties.
Ready to learn more about the process? Schedule a Meeting with the Team Here.