What is the Best Structure for Your Property Management Company?
WHAT YOU WILL LEARN
One question we get asked a lot is how we suggest property management companies structure their organizations. We hear so much about “right person, right seat” but do we have the right seats, to begin with? In this episode, we will have a conversation with property management thought leader, Brad Larsen, about the different organizational structures we have used in our property management organizations. We will explore what problems we faced with each one, what structure we settled on, and why and what things to consider as you analyze your organization. You don’t want to miss this thought-provoking episode!
🔥 KEYNOTES
- 01:28 Structure for your property management company
- 03:59 Property Management Mastermind Facebook Group
- 03:05 Property Management Conference
- 06:06 There is no one right way to structure a company. It depends on the market and the size of the company
- 07:50 Current Structure of RentWerx, San Antonio
- 10:40 Flight of talent at management levels
- 13:00 How to structure Compensations and Bonuses
- 15:00 How to start a back up remote team model
- 18:30 In-house maintenance or third-party maintenance vendors
- 18:50 How a remote team can improve your company finances and save up to 40% in personal
- 21:00 Why hiring a consultant entity to implement NARPM standards will save you time and assure compliance
- 24:18 How did Wistar group started in property management and what they were willing to give up to grow to the next level
- 27:20 5 Mistakes that small property management companies do
- 28:00 The importance of not giving personal contact and design a system to react to any emergency
- 33:00 Property management company fundamental positions
- 35:00 Take 5 minutes a day to work at your company infrastructure and make sure to implement actions
- 16:00 Annual technology fee for all of the owners
- 38:00 Property Management Mastermind Conference May 19,20 and 21 info pmmcon.com
ABOUT OUR GUEST: BRAD LARSEN
Brad Larsen is the owner and real estate broker for RentWerx, San Antonio - a full service real estate brokerage focusing on Property Management for single family homes. Additionally, Larsen is the host of the podcast “The Property Management Mastermind Show.” He also is the founder and host of the Property Management Mastermind Convention which you all should go to because it is awesome!
