Living and breathing your stated vision, mission and values as an organization can be hard to get right. In this episode we explore how to infuse a distinct, explicit and visionary company culture in your team and in everything you do with the expert of organizational culture, Lisa Wise of Nest DC. In this show we talk about how to ensure that your intended impact on your team, community and stakeholders is executed in every action you take.
One thing that holds companies back from their full potential in revenue growth and over all expansion is not understanding their financials and bookkeeping. After eighteen months of looking at a number of property management companies books here are the most common pitfalls that impact overall company performance.
Continue reading “Four Common Missteps in Property Management Bookkeeping”
Is your business stagnant, but you are really interested in scaling? In this show, we speak with scaling expert Mark Scrimenti on the top pitfalls leaders make when trying to grow their business and how to avoid them. We discuss common founder blindspots and what steps need to take place to either get a business owner out of their operations or for a business to grow exponentially depending on an owner’s goal.
Are you up to date on the latest legal issues in the industry? On this episode, we discuss the biggest legal pitfalls for the PM Industry and how to avoid lawsuits with Scott Abernathy, president of NARPM.
Continue reading “How to Not Get Sued in the Property Management Industry”
Trent Ratliff explains how he balances his busy life as a family man, property management guru and competitive athlete on this episode. He explains how he ruthlessly prioritizes and efficiently manages his time. If you are looking for motivation to work out, looking for tips on how to accomplish more within your day or make the most of your diet or exercise routine you won’t want to miss this content heavy conversation with Trent.
Continue reading “How to Balance Running a Business and Your Health”
The dirty little industry secret is that a lot of companies are not profitable when it comes to property management. They may feel like they are doing better financially than they actually are because they make money through property sales or other ancillary services, but if you look under the hood at just their property management division you may find that it loses money. Here are the top reasons why property management often fails to turn a profit.
Continue reading “Five Reasons Your Property Management Company is Not Making Money”
David Flores, CEO of PM Solutions Pro, started out as a virtual assistant, or what we call a remote professional, and helped House Match in San Diego document and clarify all their processes and procedures. Now he helps other companies do the same. On this episode, we will talk to him about what he recommends companies do to get organized and how to best utilize virtual staff to get high quality procedures written down quickly so your business can grow.
Continue reading “How a Virtual Assistant Can Help You Create Processes and Procedures”
Short term rentals are all the rage, but can you scale a short term rental business? During this episode of Property Management Bootstrappers we discuss the ins and outs of managing short term rentals with founder of Better Stay in Washington state, Eva Wu. She explains how to maintain a positive culture with your team, the software and hardware needed to make management go smoothly and how to manage the little things that make a short term rental experience go well. If you are curious about how to make short term rentals part of your portfolio this is a can’t miss episode.
Continue reading “Adding Doors With Short Term Rental Management”
Performance indicators are the key to measuring the effectiveness of your property management business. They provide a way for you to track if your company is doing well or not, and if not, they can help you figure out what needs improvement. Tracking KPIs is important because it helps you know if there are any problems with your products, services, processes or systems. This blog post will explain all about performance indicators and why you should be using them in order to improve your business’s overall health!
Continue reading “Guide to Property Management KPIs: Tracking the Metrics That Matter”
It is difficult to define toxic company culture, but you know it when you’re in one. When I was new at running companies I had an employee who worked in the front office, and when I would walk in the door in the morning I would always greet her and say, “Good morning (let’s call her..) Brenda!” and then one day she didn’t feel like she had to say hello back. She just looked at me and sneered. That was when I knew that I had a company culture problem on my hands.