Whether you’re just getting started in property management, or you’ve already grown to over 500 doors, business can get messy. So, last week we sat down with Deb Newell, a property management consultant who works with property managers to guide them into stable growth and efficiency, to get the details on cleaning up shop.
Deb began her career in real estate buying and flipping properties, with the simple goal of getting out of debt. After turning over 35 properties in 4 years and keeping them as rental investments, she started a property management company in 2001. She already had a background in education having taught political science at the University of Colorado, so it wasn’t long before she transformed those skills into consulting.
In 2010, Real-Time Consulting Services was born. Offering expert one-on-one consulting for the Property Management Business Owner/Company.
Watch the full session below or take a glance at the recap notes:
It’s easy to get overwhelmed
There is a lot more involved in property management than most expect when first getting started. So Deb takes a look at the big picture: on boarding properties, marketing properties, finding tenants, dealign with maintenance. She finds the consistencies and suggests tools for workflow automation.
The majority of her clients are working with over 3 different software platforms and are continually looking at more. With different competitors in the market, it’s easy to get overwhelmed not only with choosing the right platforms, but also managing their workflows. Deb helps the clients get to the root of their business goals to help taper down the vast sea of paths to take.
People, process, and technology
These are the three main areas Deb focuses on when working with a new client. With a deep dive into each of these three things and the changes and actions that need to take place, the business starts to operate with more efficacy.
People: are the employees overwhelmed? Are they sitting in the right seat? How can they be more efficient?
Process: Is there transparency in each and every process involved? Are things getting communicated properly to eliminate costly mistakes? Is there a less time consuming solution without losing quality?
Technology: Pen and paper shouldn’t be ignored, but also not relied upon. Deb narrows down which technologies are most suitable for the respective needs of each client. Which areas should be managed in house and which should be managed by 3rd parties?
Sticking on a success path:
Deb mentioned that many times people are implementing “bandaid fixes” rather than finding the root of each issue and fixing from there. This can be a longer and more daunting process because often times, fixing one thing can break another, and the fixes are not quick ones. Though, identifying and addressing these larger root issues will be the beginning of a more successful long term path.
Watch the full session below:
To get in touch with Deb, you can visit her website at www.propertymanagementconsulting.com
Deb has referred many clients to Latchel who are looking to offload their maintenance to a third party service. Latchel coordinates 24/7 maintenance for all of your properties – meaning no more spending time in the weeds of late night tenant calls, vendor coordination, and managing work orders.
Property managers who have switched to Latchel have reduced their time spent on maintenance to 15 minutes per day for every 100 doors, giving them more time to grow the business, or spend more time with family. With a maintained 4.7 out of 5 star rating for tenant satisfaction, you can rest easy knowing your tenants and properties are being taken care of.
