• The Landlord Profitability Playbook Podcast

  • 著者： Chris McAllister
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The Landlord Profitability Playbook Podcast

著者： Chris McAllister
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  • Investing in real estate is an incredible way to build wealth. Managing real estate is another matter altogether. If your real estate investments are taking too much of your time and attention, this podcast will not only free you up – it will put more money in your pocket too.
    © 2024 The Landlord Profitability Playbook Podcast
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Investing in real estate is an incredible way to build wealth. Managing real estate is another matter altogether. If your real estate investments are taking too much of your time and attention, this podcast will not only free you up – it will put more money in your pocket too.
© 2024 The Landlord Profitability Playbook Podcast
個人ファイナンス 経済学
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  • Ep012: Will They Rent Your Property For Top $$$ FAST? – Part 5 of What To Expect From Your Property Manager

    Ep012: Will They Rent Your Property For Top $$$ FAST? – Part 5 of What To Expect From Your Property Manager
    2024/09/03
    Welcome back to The Landlord Profitability Playbook Podcast! I'm Chris McAllister, here to help you create and coach business opportunities and strategies that support and add value to the lives of residential real estate investors. Today, I'm joined by my trusted co-hosts, Laci Leblanc and Gretchen Mitchell, our Director of Property Management at ROOST Real Estate Co. In this fifth installment of our series 'What To Expect From Your Property Manager,' we're tackling a question every landlord wants answered: "Will They Rent Your Property For Top $$$ FAST?" Minimizing vacancies is crucial to maximizing your profitability as a landlord. But how can you ensure your property manager is up to the task? This episode breaks down the essential steps that can help your property rent quickly and at the highest possible rate. Here’s a glimpse of what we cover: • Setting Market Rate Rent: Discover how to set the right rent rate for your property to attract qualified tenants who can comfortably afford the rent and maintain your property in good condition. • Casting A Wide Marketing & Advertising Net: Learn the importance of extensive marketing strategies, including leveraging robust management platforms like Appfolio and Buildium, to reach a broad audience and reduce vacancy periods. • Showing Your Property In The Best Possible Light: We discuss the impact of high-quality photos and self-showing systems, such as Tenant Turner, on enhancing your property's appeal and convenience for prospective tenants. • Screening IN Qualified Applicants: We emphasize the importance of fair and unbiased tenant selection criteria that not only comply with legal standards but also ensure a pool of well-qualified applicants. • Assessing the Application Process: Understand how a streamlined and accessible application process using tools like Tenant Turner can improve operational efficiency and tenant satisfaction. • Auditing the Onboarding Process: Learn the critical elements of a thorough onboarding process, including lease signing, setting expectations, and utility setup, to ensure a smooth start to the landlord-tenant relationship. Whether you're a seasoned landlord or new to property management, this episode offers valuable insights and practical tips to help you minimize vacancies, maximize your rental income, and create a positive experience for both you and your tenants. SHOW HIGHLIGHTS In this episode, I discuss the importance of setting the market rate rent to attract tenants quickly and avoid prolonged vacancies.I explain how over-improving a property beyond the neighborhood standard can lead to unrealistic rent expectations and increased vacancy periods.We explore the benefits of signing new leases over month-to-month arrangements to ensure tenant commitment and reduce vacancy risks.We highlight the use of tools like RentRange to perform accurate market rate analyses and the importance of combining technological insights with real-world data.The episode covers effective marketing strategies, including using platforms like Zillow and Apartments.com, high-quality photos, and 3D videos to present properties attractively.We discuss the significance of screening in qualified applicants with a personalized approach, rather than relying solely on rigid criteria like credit scores.Effective communication practices, especially with tenants from diverse backgrounds, are emphasized as crucial for building strong tenant relationships.We detail our tenant onboarding process, which includes lease signing, utility setup, and using the tenant portal, to ensure a smooth transition for new tenants.The importance of follow-up calls at various stages of the tenancy to maintain tenant satisfaction and gather feedback is highlighted.We underscore the value of maintaining a good reputation through positive reviews and the impact of effective property management on achieving high occupancy rates. LINKS Show Notes Be a guest on the Landlord Profitability Playbook Podcast Download your FREE copy of The Landlord Profitability Playbook and learn how to automate your property management. Visit ROOST Property Management and find out more about the ways we can help you create a more profitable portfolio. Visit Rental Property Registration to access the registration page and self-inspection form. Download your FREE copy of The ROOST Application Refund Policy TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Chris: Hello everyone and welcome back to the Landlord Profitability Playbook Podcast. I'm Chris McAllister and it's my job to create and coach business opportunities and strategies that support and add value to residential real estate investors like you. Joining me today are my trusted co-hosts Laci LeBlanc and Gretchen Mitchell. Good morning, ladies. Laci: Good morning. Chris: Laci is the queen of marketing for Roost Real Estate Company and Gretchen is our director of property management ...
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    54 分
  • Ep011: Can They CONTROL Rehab and Maintenance Costs? – Part 4 Of What To Expect From Your Property Manager

    Ep011: Can They CONTROL Rehab and Maintenance Costs? – Part 4 Of What To Expect From Your Property Manager
    2024/07/26
    Welcome back to The Landlord Profitability Playbook Podcast! In this fourth episode of our 12-part series "What To Expect From Your Property Manager," hosts Chris McAllister, Laci Leblanc, and Gretchen Mitchell will explore the critical role of controlling rehab and maintenance costs in maintaining landlord profitability. Join us as we take a deep dive into: • The importance of proactive decision-making and tenant selection to prevent costly repairs down the line. • How adhering to the 'Neighborhood Standard' can preserve property value and enhance tenant satisfaction. • The advantages of employing W2 maintenance personnel and providing work trucks to boost operational efficiency. • Best practices for managing costs transparently, collaborating with trusted contractors, and leveraging technology platforms like Property Meld and Appfolio. • The significance of having a dedicated Rehab & Maintenance Manager and a robust policy for cash management and reserves. We also share insights into our own Rehab and Maintenance team's journey at ROOST Real Estate Co., including their roles, structure, and our plans for the future. Whether you're an experienced investor or new to the game, this episode is packed with actionable tips and insights to help you manage your properties efficiently and economically. Listen now to Episode 4: "Can They CONTROL Rehab and Maintenance Costs?" and take the next step in mastering your real estate investments. For more resources and to explore investment opportunities with ROOST Real Estate Co., visit our website. Subscribe to the podcast to stay updated with the latest episodes and insights! SHOW HIGHLIGHTS Chris discusses the rising costs of property maintenance, citing data from Property Meld, and emphasizes the need for proactive strategies to manage these expenses.We explain the importance of meticulous tenant screening and setting clear expectations for property care to mitigate maintenance costs.Chris highlights the significance of ensuring tenants are comfortable with the maintenance request process and understand their responsibilities in maintaining the property.We explore the challenges landlords face when showing occupied rental properties, including tenants' rights to refuse showings and the potential impact on property presentation.We stress the benefits of allowing adequate time to prepare properties for new tenants, which can result in long-term, reliable tenants and reduce vacancy periods.We discuss best practices for property management maintenance, including essential questions to ask when selecting a property management company.Chris and Gretchen explain the balance between over-improving and under-maintaining properties and the concept of maintaining properties to the neighborhood standard.We describe the logistics of managing work schedules and transportation costs for maintenance personnel, and the decision to use W-2 employees versus 1099 contractors for routine maintenance and repairs.We highlight the transformative impact of Property MELD software on property management, focusing on its integration with AppFolio and its superior communication and scheduling capabilities.Chris underscores the value of strong contractor relationships and reliable tools, mentioning the positive outcomes achieved with versatile contractors like Paul Dixon, who bring expertise in multiple trades. LINKS Show Notes Be a guest on the Landlord Profitability Playbook Podcast Download your FREE copy of ROOST-Minimum-Property-Standards.pdf Visit ROOST Real Estate Co and get a free property management quote Visit Invest with ROOST and learn about property investment opportunities Download your FREE copy of The Landlord Profitability Playbook and learn how to automate your property management. Visit ROOST Property Management and find out more about the ways we can help you create a more profitable portfolio. Visit Rental Property Registration to access the registration page and self-inspection form. TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Chris: Hello everyone and welcome to the Landlord Profitability Playbook Podcast. I'm Chris McAllister and I'm here to help you create and coach business opportunities and strategies that support and add value to the lives of residential real estate investors. Joining me today are my trusted co-hosts Laci LeBlanc and Gretchen Mitchell. Good morning, ladies. Laci: Morning, good morning. Chris: Today we're diving into part four of our series called what to Expect from your Property Manager, and today's episode is titled Can they Control Rehab and Maintenance Costs? Rehab and regular maintenance are the two things that absolutely make or break landlord profitability. We've been doing this for quite a few years and everything, it seems, comes back to having to fix things or having to get things cleaned up between tenants, and it's the thing that just crushes the hopes and dreams of...
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    42 分
  • EP010: Meet The Team Then Decide – Part 3 of What To Expect From Your Property Manager

    EP010: Meet The Team Then Decide – Part 3 of What To Expect From Your Property Manager
    2024/06/27
    Welcome to The Landlord Profitability Playbook Podcast! In this third episode of our 12-part series, "What To Expect From Your Property Manager," hosts Chris McAllister, Laci Leblanc, and Gretchen Mitchell dive deep into the importance of meeting your property management team before making any commitments. In "Meet The Team THEN Decide," we explore the foundational role of trust in managing your valuable assets. We'll discuss the value of local expertise, the collaborative nature of the property management relationship, and how to get a feel for team dynamics. We'll also cover key performance metrics you should inquire about and the overall structure of an effective property management team. By tuning in, you'll learn how to assess whether a property management team is right for you, ensuring they have the necessary tools, clear roles, and the commitment to high standards that will help optimize your investment returns. Join us for insightful tips and strategies that will help you make informed decisions about your property management partnerships. Hosts: • Chris McAllister • Laci Leblanc • Gretchen Mitchell Key Topics Covered: • Building trust • Importance of local expertise • Collaboration in property management • Assessing team dynamics • Understanding key performance metrics • Effective team structure Ensure your properties are managed effectively by teaming up with professionals who view your investments as their own. Don't miss this episode for valuable insights and actionable advice! SHOW HIGHLIGHTS We discuss the critical importance of building trust with your property management team, emphasizing the value of face-to-face interactions, whether in person or via Zoom.Chris highlights how local expertise in property management can offer significant advantages over national companies, especially through intimate knowledge of neighborhoods and market dynamics.Gretchen explains the necessity of clear role definitions and compliance with licensing laws within a property management company to ensure smooth operations and accountability.We emphasize the need for a well-structured team with designated roles for tasks such as accounting, maintenance, and leasing to enhance efficiency and effectiveness.Chris talks about the importance of evaluating property management companies by understanding their team structure and distinguishing between front stage and backstage activities.We explore key performance indicators for property management, including 'time to turn,' 'days on market,' 'rent collected,' and 'three-day notices,' as essential metrics for evaluating effectiveness.Gretchen underscores the importance of balancing legal, moral, and professional responsibilities while maintaining trust and respect between property managers, tenants, and owners.We discuss the advantages of having a geographically focused team for property management, particularly for investors looking to expand their portfolios.Chris shares insights into the internal dynamics of Roost Real Estate Co Property Management, detailing the roles of key players and the importance of providing the team with the proper tools and resources.We advise prospective clients to inquire about job descriptions and take office tours to gauge operational readiness and ensure the property management team can meet their needs. LINKS Show Notes Be a guest on the Landlord Profitability Playbook Podcast Download your FREE copy of The Landlord Profitability Playbook and learn how to automate your property management. Visit ROOST Property Management and find out more about the ways we can help you create a more profitable portfolio. Visit Rental Property Registration to access the registration page and self-inspection form. TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Chris: Hi everybody, welcome back to the Landlord Profitability Playbook Podcast. I'm Chris McAllister and it's my job to create and coach business opportunities and strategies that support and add value to the lives of residential real estate investors. Today I'm joined not only by my podcast partner and digital marketing guru, Laci LeBlanc, but also by our Director of Property Management at Roost Real Estate Company, Gretchen Mitchell. So this is part three of our series what to expect from your property manager, and today's episode is titled meet the team, then decide. Get the boots on the ground, you can trust. Nice long title, but you get the gist. We'll be delving into the importance of building trust with your property management team, understanding what their local expertise exactly is. We're going to talk a little bit about the nature of collaboration, some team dynamics and performance standards. By the end of this episode, I think you'll get a clear understanding of why actually sitting down and meeting with the team or Zoom, if actually meeting in person is not a viable option is crucial before you make any final ...
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    56 分

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