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How To Create New Profit Streams & Never Take a Maintenance Call Again

Ethan Lieber
January 14, 2020
How To Create New Profit Streams & Never Take a Maintenance Call Again how-to-create-new-profit-streams-and-never-take-a-maintenance-call-again

As the possibility of a recession becomes more and more probable, you might (and should) 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 focus on the important day-to-day operations. 

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 up to an average of $48,000/year for every 100 units managed. 

This brings to life two very exciting questions: 

  1. How much could my business grow this year with this much new profit?
  2. What do I get to do with all of my extra free time?

How To Create New Profit Streams & Never Take a Maintenance Call Again

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 largest 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 that turns 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 leverage 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 60 seconds guaranteed. And, not just anyone – one thing that makes Latchel’s maintenance call center different from most is that it’s compiled of a team of former property managers who understand how to troubleshoot maintenance issues, and are able to resolve or de-escalate 30% of all maintenance requests, saving you the time and cost of unnecessarily dispatching a service provide.


Sharpen your competitive edge with Latchel’s resident benefit package that also connects your residents with pros who can tackle home chores such as house cleaning, lawn care, furniture assembly, dog walking, junk/furniture removal, and so much more. 

Residents also get automatically enrolled in Latchel’s Security Deposit Protection Plan where we offer $1,000 cash back on resident-caused damages. 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. 

Last, the resident has access to a 100% customizable dashboard filled with dozens of perks from cash back on insurance policies and credit-building payment options to rent protection and filter delivery services. Property managers have the option to add additional perks that make sense to your market, elevating your residents’ experience, which in turn, increases resident retention. 

Improve Your Online Reputation

With Latchel, residents are sent a quick survey via text message where they are encouraged to leave a review once a work order is complete. This increases your number of reviews while significantly improving your online reputation as we automatically push all 5-star reviews to your website, giving your marketing a boost. Latchel averages a 4.8 out of 5-star rating for resident satisfaction, so we are confident your residents will receive that top-notch, white-glove care they deserve.

Unmatched Transparency In the Process

Many times, outsourcing a portion of your business to a third-party company can come with reservations. However, Latchel gives you full control to make any changes you feel necessary in the process of your maintenance operations. You’re also given email 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 by clicking here.

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Unlock the Potential of Digital Insurance
Launch a tailored renter's insurance program

Sure provides tailored renter’s insurance that enables property managers, owners, and residents to protect their property, minimize risk, and experience the peace of mind that comes with the protection of your assets and business.

Most leases require renters insurance. So, we’ve partnered with Sure to provide that option for your residents. While residents aren’t required to use Sure to meet the renter’s insurance requirement, this is still a convenient option you can offer to your tenants. 

All services and products are provided by Sure, not Latchel subject to Sure’s terms and conditions.

Property Inspection Platform
Automate and Organize Inspections with RentCheck

Make Inspections Easier
RentCheck saves time by enabling residents to complete inspections on their own. Customization and automation ensure the job gets done.


Stop Wasting Time
Schedule inspections for all stages of the lease cycle at any cadence you choose. RentCheck handles the reminders.


Instantly Submit Work Orders
Take advantage of Latchel's integration with RentCheck to instantly submit a work order for any maintenance issues that pop up on an inspection.


Modernize Your Process
Easily compare new and existing inspection reports, side-by-side, and avoid security deposit disputes.


Prompt Routine Filter Changes and Resident Tasks
Schedule resident reminders to replace filters and other upkeep tasks over the course of the lease lifecycle.

To learn more about RentCheck, talk with a Latchel benefits expert today. All services and products are provided by RentCheck, not Latchel, and subject to RentCheck’s terms and conditions.

Affordable Pest Control

Access world class pest control for a fraction of the normal price. No need for new software or a complicated setup.


Easy Pest Control
Residents simply reach out to Cover Pest if there is a pest issue, and Cover Pest takes it from there.


Clarity on Who Pays the Bill
No more awkward conversations about who is responsible for the bill! With Cover Pest as a resident benefit, residents get pest control for covered pests without an additional cost.


Vendor Sourcing
No more sourcing for vendors! Cover Pest will source and coordinate with vendors for each pest control request

To learn more about Cover Pest, talk to a Latchel benefits specialist today.  All services and products are provided by Cover Pest, not Latchel, and subject to Cover Pest’s terms and conditions.

Air Filter Delivery Subscription

FilterTime is an air filter delivery service that makes it easy and convenient for residents to replace their air filters. FilterTime customers can protect their HVAC system, reduce dust and pollen, save money on energy costs, and more by leveraging this delivery service.


Reduce Labor for HVAC Issues
Filter delivery service results in a 38% reduction of total HVAC ticket requests.


Cost Savings on HVAC Repairs
Average HVAC repair costs have increased by 48.7% year over year. an air filter delivery subscription can cut costs up to $250-300 per property per year.


Energy Reduction
Filter delivery is saving residents $14.82 per month in energy costs.

How it works:

Choose from almost every size and type of air filter including custom-made sizes

Choose how often you want your filters delivered


 A box of brand new air filters delivered to your resident’s front door

To learn more about FilterTime, talk with a Latchel benefits specialist today. All services and products are provided by FilterTime, not Latchel subject to FilterTime’s terms and conditions.

Boost resident satisfaction and drive good resident behavior through a rewards, incentives, and credit building program

Drive On-Time Rent Payments
Piñata rewards renters for on-time rent payments through Piñata cash, and boosts renter's credit scores for online payments.


Boost Resident Satisfaction
$30 gift card to use at select brands and businesses, $25 restaurant card, 720 annual Piñata Cash to use on rewards, Early lease renewal gift.


Attract and Retain Renters
2 out of 3 renters prefer properties with rent reporting. Plus, residents get incentives for early lease renewals.


Rewards Residents Love
Residents can use Piñata Cash on brands they know and love, such as: Starbucks, Amazon, Sephora, Lego, Target, Walmart, Home Depot, Lowes, Doordash, Best Buy, and many more!

Piñata Cash

Residents easily earn Piñata Cash any day of the month by doing things like taking surveys, referring friends, or trying out new products.

Residents also get access to big-ticket giveaways, limited drops and super surges!

And, with exclusive access to our marketplace with over 300,000 deals, residents can squirrel away up to $4,500 annually.

To learn more about Piñata, talk with a member of our benefits team today. All services and products are provided by Piñata, not Latchel subject to Piñata’s terms and conditions.

Master Liability Insurance

Now you have one less thing to worry about with a Master Liability Policy through Obie.


Affordable Coverage
Affordable policies available with liability coverage starting at $100,000 and up to $300,000 to meet any property manager insurance requirements.


Stay 100% Compliant
Master policy provides $100,000 for management companies and owners by ensuring 100% of occupied homes and units are covered for property damage liability issues relating to resident negligence.


Peace of Mind
Liability coverages include perils such as fire, smoke, water, explosion, overflow of sewer, and many others that provide coverage for damages you (the resident) may cause to your unit or home


Personal Liability
Personal liability coverage is automatically include to protect you against claims where you may be considered legally liable. (Bodily injury claims, dog bite claims, and more)


Additional Coverages
Additional/expanded coverages are also available. (Pet damage, identity fraud, theft/vandalism, and more are available!)

All services and products are provided through Obie and are subject to Obie’s terms and conditions.

👋 Join us for a special webinar Thursday, January 11th