Calendar icon March 23, 2023

How to Value Property Management Company

Looking to sell, buy, or acquire a property management company? Or maybe it’s not something immediately on your radar, but you want to be ready down the road. 

With the market volatility right now, many business owners are looking toward their long-term goals. Maybe they want to expand to new markets. Maybe they want out of the game altogether. Or, maybe they simply want to get a clear valuation of their company to be ready for market changes. 

Today we’re talking with Jock McNeill, the VP of Acquisitions at PURE Property Management, about how to value a property management company. Jock has completed  over 70 property management acquisitions and has tons of insight into valuation models and buying and selling property management companies.

Key Learning Objectives:

  • What top factors drive the value of a PMC?
  • Do specific business models work better for acquisitions?
  • How do you calculate the value of a PMC?
  • How do you increase the value of your PMC before a sale?
  • How to sell your PMC
  • How to buy a PMC

Meet the Expert: Jock McNeill, PURE Property Management

Jock McNeill is the VP of Acquisitions at PURE Property Management, Inc. In his role, Jock has completed  over 70 acquisitions at PURE and even more prior to joining PURE. Within the property management industry, Jock has years of insight and advice to share.

 

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Factors that drive the value of Property Management Company 

McNeill says: “Several factors help us determine the value of a property management company, including revenue, profit margins, average rents, portfolio diversity, growth potential, leadership, and their team and team structure.”

You can think of these as success metrics in determining “What is my company valuation?” Here are the most important factors to consider.

Well-Defined Strategy and Goal   

With an industry as fragmented and complex as property management, PMCs should show a clear strategic plan for differentiating their niche in the market. What is their unique value proposition in their area, and how do they sell clients on that value? 

For your own PMC, ensure that you know why a client should work with you. How are you different from other PMCs, and who is your ideal client? Having a clear business plan from the outset helps define your strategy and goal. 

Profitability

Before valuing a property management company, you need to determine profitability. Evaluate financial metrics like gross revenue, profit margins, cash flow or EBITDA, and debt-to-income ratios.

McNeill explains how they evaluate this at PURE: “We evaluate proforma financial statements and arrive at a percent profitability based on adjustments we can make by removing ‘seller benefits’ such as vehicle leases, personal expenses, etc.”

Two of the biggest red flags in terms of valuation, says McNeill, are “low revenue per door managed and low profit margins. [These] can keep a business on the lower end of the valuation scale. These are often driven by low average rents and high labor costs.” 

Business Model and Team Structure

Speaking of high labor costs, determining overhead costs is a critical part of the valuation. 

McNeill explains, “PURE uses our experience in running multiple branches of varying sizes to determine the best way to staff and run an office. That experience influences the assumptions we use to determine how a company will perform as a PURE branch.”

At PURE, they look for PMCs with portfolio or pod structures. “Portfolio or pod-structured companies fit best with our model, so they are more attractive,” says McNeill. “Most of the companies we evaluate are portfolio or hybrid supported by virtual assistants.”

Proximity to Key Markets

A key indicator for buyers is to look for PMCs in markets where there’s plenty of demand for real estate services. Does the area have strong population growth? Lots of single-family homes? Your region’s Comprehensive Annual Financial Report (CAFR) is a good resource for identifying what areas are heating up or cooling down in the rental market. 

It’s also key to see a demonstrated network within those key markets. Property management is still largely driven by personal contacts and business relationships. Having strong contacts and connections in key markets is an important sign of growth potential.

Future Growth Potential

And, of course, signs of growth potential are critical to a PMC’s valuation. Many buyers are thinking about company value related to size

According to McNeill, “Growth potential can influence how we approach a deal. If we can grow organically and quickly in a market, that can be very attractive. What a seller may perceive to be a problem in their business can be the acquirer’s opportunity. Maybe the issue is as simple as better systems, we can help with that.”

Growth potential can be in the form of the real estate market in the area, but also opportunities to grow the business with existing properties. We’ll explore strategies like ancillary property management fees and services in the section on how to increase the value of a PMC. 

How to Calculate the Value of a PM Company     

Next, how do you start calculating the value of a PMC? Another resource we love is this piece by Peter Lohmann on valuing a property management company. In it, he lists all the factors you need to keep in mind when valuing your own or another PMC.

To get started, write down your answers to the following questions. (This could refer to your PMC that you want to sell or a PMC you are interested in purchasing.)

  • How old is the business?
  • What is the size of the business (total units under management)?
  • What is the customer concentration (units per client)?
  • What type of rental property mix does the PMC manage (Single Family vs. Multifamily)?
  • What is the rental property quality (A class, B class, etc.) & average rents?
  • What is the management fee structure & is it standardized across clients?
  • What existing management fees does the business have relative to the market rate?
  • What is the average investor/client tenure with the company?
  • What standards does the company have for the quality of bookkeeping & accounting (ideally, conforming to the NARPM Accounting Standard)?
  • What is the company's reputation in the local market (Google reviews, etc.)?
  • What is the involvement of the seller (or yourself) in day-to-day activities?
  • What is the revenue makeup (brokerage income, maintenance income, etc.)?
  • What is your willingness/the willingness of the seller to sign a non-compete clause?
  • What payment terms/seller financing?
  • Are there clawback provision terms?

 

download rental inspection checklist template

 

Increasing the value of a property management company before the sale   

For owners of a PMC looking to sell, your first goal is obviously to increase the value of your business as much as possible before the sale. 

Keep in mind, though, that increasing your company value doesn’t need to become a barrier to selling. In fact, McNeill warns not to be too perfectionistic on that front.

“One of the biggest misconceptions is that valuation is only based on revenue, and you have to have your business in perfect condition to sell,” McNeill says. “There are many factors that influence valuation, but for PURE, revenue and profit margins are most important. We’ve also seen a lot of potential sellers stall in early discussions because they want to wait to get their shop in order, implement new initiatives, or clean up their books. It isn’t always necessary, and trust me, we’ve seen it all.”

Here are some industry tips for increasing your PMC’s value to buyers or investors. 

Invest in your business infrastructure

By this, we mean that you should invest in technology and people. Reinvesting in your business will make it healthier and more valuable to potential investors. 

On the tech side, you could adopt new property management software, update your current tech infrastructure, or integrate the newest AI-enabled tools. 

On the people side, you don’t necessarily need to hire more employees. Rather, ensure that the people on your team are as equipped as possible. Invest in excellent recruiting and onboarding processes, ensure you have robust training programs, etc.

Integrate ancillary services

We’ve talked a lot on our blog about how to develop ancillary programs to drive income. Ancillary fees aren’t just a cash grab – they’re a way to add needed value for residents and investors while driving profit for your PMC.

Ancillary property management services can include things like:

  • Renter’s insurance programs
  • Credit-building 
  • Supportive services like air filter delivery
  • Resident rewards
  • And more!

One of the best value-added services is to integrate a resident benefits package into your program. 

Develop marketing strategies

You should be able to show potential investors that you have a strong marketing plan that has proven to grow your business over time. Your marketing strategy should include a content plan, distribution, social media strategies, networking events, and more. 

Pay attention to things like your reviews and online reputation as well. Marketing your property management company well will pay off in dividends when you are ready to sell.

How to sell a property management company 

Completing a thorough valuation is just the first step in selling a property management company. If you’ve done the work to value your PMC, the next steps will be much easier. 

Whether you're looking to retire or simply move on to a new business venture, selling your property management company requires careful planning and execution – with the following steps. 

Identify potential buyers

The next step after valuing your PMC is to identify potential buyers. The field of possible buyers may include other property management firms in your area, real estate investors, or even individual buyers looking to enter the industry.

 

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Determine how you want to sell

In his article on valuing your PMC, Lohmann outlines the two different transaction types in how a property management company can be purchased:

  1. A stock sale. In a stock sale, the buyer will purchase shares of your business. They take on all past liabilities of your company but also get to hold onto your brand, contracts, and vendor relationships. The depreciation of long-lived assets is not reset.
  2. Asset sale, also known as Goodwill. In this case, the buyer buys your “book of business.” They’re paying for the property management agreements or contracts your PMC holds. If any of your contracts aren’t assignable, you’ll need to get an individual agreement from those investors. 

Prepare your PMC for a sale

Next, you'll want to prepare your property management company for sale. This may include making necessary upgrades to your facilities, improving your management processes, and ensuring that all financial records are up-to-date and accurate.

According to McNeill, the question you should ask yourself is: “How can I best tell the story of my company to a potential buyer? Are my financials detailed, and can I show a buyer I have great margins (or how they can achieve them)?”

Work with a qualified broker or attorney

Finally, when it comes time to negotiate a sale, it's important to work with a qualified business broker or attorney who can help you navigate the complex legal and financial aspects of the sale. With their guidance, you can ensure that you get the best possible price for your property management company while also protecting your interests and ensuring a smooth transition of ownership for your employees and clients.

How to buy a property management company 

But what if you’re on the buying side? Buying a property management company can be a great investment opportunity, but you can’t sleep on due diligence. Before you start the process of purchasing a property management company, there are several key steps you should take to ensure that you make an informed and profitable decision.

Research thoroughly & find a PMC that fits

The first step in buying a property management company is–like with anything–to do your homework. Thorough research on PMCs involves identifying potential acquisition targets, analyzing their financial performance, and evaluating their market position. 

You'll want to look at factors such as revenue growth, profit margins, and client retention rates, as well as any potential growth opportunities that may make the company more valuable in the future. Basically, everything we covered in the sections above!

If you already run a PMC, you want to make sure the business model can integrate with your structure. But again, McNeill cautions against being too rigid on this one.

“We have yet to see a company that does everything the PURE way after over 60 acquisitions. Our partner integration team jumps in quickly and has a plan in place before we close a deal. If a seller has already implemented similar ancillary revenue models, such as a resident benefit package, etc., it means we can optimize that faster than rolling it out from scratch. Our proven platform includes the people, processes, relationships, and technology to consolidate, tech-enable, and optimize the companies we acquire carefully and thoughtfully. We have an all-star team of industry insiders, innovators, and leaders already in place, so when we bring on new teams, the integration is pretty smooth.”

Conduct due diligence and identify liabilities

Okay, so let’s say you’ve identified a potential PMC you’d like to buy. Now it’s time for due diligence. This involves reviewing financial records, contracts, and legal documents to ensure that there are no hidden liabilities or risks associated with the company. Additionally, you'll want to evaluate the quality of the company's management team, as well as its operational processes and systems.

Determine fair market value

After completing the due diligence process, you'll need to determine the fair market value of the property management company. This involves taking into account a range of factors, including its current and projected financial performance, market position, and growth potential. Once you have a clear understanding of the company's value, you can begin the negotiation process with the seller.

Work toward a smooth transition

Finally, once the sale is complete, it's important to take steps to ensure a smooth transition of ownership. This may involve working with the existing management team to establish clear roles and responsibilities, as well as communicating with clients and stakeholders to ensure that they are aware of the change in ownership.

According to McNeill: “A buyer should make sure they have the foundation in place to integrate an acquisition into their existing operation. Look for opportunities to add value for the clients and residents, and that will turn into value for you as a buyer. Anything you can do to create a simple and satisfying experience for clients and residents will help with the anxiety that can come with a sale.”

Conclusion

Ultimately, the value of a property management company will depend on a range of factors, and there is no one-size-fits-all approach to valuation. But the bottom line is that by following a structured and analytical approach, you can feel confident in your valuation, which will help you make informed decisions about buying or selling the business. 

Whether you're a business owner looking to sell your property management company or an investor looking to make an acquisition, a proper valuation is essential to ensuring a successful transaction.

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10 Steps to Onboard New Tenants

For property management companies, new tenant onboarding represents a cornerstone of the "Triple Win" philosophy we advocate here at Second Nature. That's because an optimal process benefits all parties. First, a smooth onboarding experience fosters tenant satisfaction and delivers winning conditions for a positive tenant relationship with their new home. It recognizes their role as property residents rather than transactional entities, and sets a positive tone for their experience with the property. It also demonstrates professionalism and competence on the part of the property management company, which not only boosts your brand, but also enhances your ability to attract potential tenants in the future. Finally, it protects the real estate property owner: Clear communication of lease terms, expectations, and maintenance procedures helps reduce the risk of issues such as late payments, property damage, or misunderstandings. But how do you actually optimize the onboarding process? Today we'll look at standardized procedures you should implement to ensure consistency and a positive outcome for all. Note on language: "Tenant onboarding” is an industry term used from time to time. But we here at Second Nature are trying to evolve the word "tenant." We’ve seen the incredible work property managers do day in and day out to make renters feel like they’re so much more than just a tenant – they’re residents. Making renters feel like residents isn’t just philosophical, it also encourages them to invest in care for their home and add value to the property. This is why, at Second Nature, we prefer to call tenants “residents.” Like you, we think of them as people first – making your property their home. 1. Run background checks, collect and verify all tenant information The onboarding process starts with thorough tenant screening and background checks on prospective renters. The process of ensuring the accuracy of tenant information can be time-consuming, so this is where you will realize the greatest efficiencies as you optimize the process. Start by leveraging screening and credit check/credit score service providers to assess a tenant's financial responsibility and ability to meet rent payments, as well as identifying any prior evictions or tenancy issues. Criminal background checks, run in accordance with fair housing laws and anti-discriminatory practices, can uncover potential red flags that may represent risks to the property or other tenants. You should also use standardized application forms that clearly request information such as: full legal name, contact details, and date of birth employment information and income verification (via recent paystubs or employer contact details) previous rental history, including contact details of prior landlords emergency contact information Directly contact previous landlords and employers to confirm details provided by the prospective tenant, and verify the government-issued photo ID (driver's license or passport) they supply to confirm their identity. Consider offering an online application portal where tenants can submit their information and upload documents securely. This allows for faster processing and reduces manual data entry (and therefore reduces the risk of errors). Again, ensure that all screening processes comply with fair housing laws to avoid discrimination based on protected characteristics. 2. Explain the lease and sign the agreement It's critical for all parties that you be transparent and clear about lease terms. To achieve this clarity in a repeatable, standardized way, consider structuring the process as four distinct stages: (i) Pre-signing review Schedule a dedicated time with the tenant to review the lease agreement. In the agreement itself, it's important to use clear, concise, plain language that avoids legal jargon. Explain each clause, addressing key points like rent amount and due date, security deposit details and return policy, allowed usage of the property and any restrictions (such as pets or modifications), maintenance responsibilities of both the tenant and the property manager, and termination clauses/notice periods. (ii) Addressing concerns After the pre-signing review, proactively invite questions and address any areas of confusion or concern. Have supplementary materials and any other necessary information readily at hand, such as property manuals or tenant handbooks. (iii) Lease signing process Consider offering the option of secure e-signatures for a convenient and efficient signing experience, but do ensure readily available hard copies of the lease for traditional in-person signing preferences. (iv) Post-signing follow-up: Present tenants with a signed copy of the lease agreement for their reference. At that point, you should outline the next steps, such as payment details (more on that below) move-in date and procedures, utility setup details, and contact information for maintenance requests or emergencies. 3. Collect payments and security deposits An efficient tenant onboarding process will prioritize secure and convenient methods for tenants to submit their security deposit and rent payments. Naturally, this starts and ends with clear communication. If you have not covered this in the context of the lease agreement, do so now: Clearly outline all available payment methods, as well as rent due dates, late fee structures, and any associated payment processing fees. It's helpful to provide flexible payment methods. Options include secure online portals (whether hosted on your site or by a third-party payment processing provider) that allow tenants to pay using debit cards, credit cards, or e-transfers. This option presents multiple advantages, including automatic recurring rent collection, online receipt for all transactions, and a record of payment history for easy reference. You can also offer the option for direct bank transfers between the tenant's account and the accounts of your property management company. For technology-averse tenants, you may find it necessary to offer traditional payment methods such as cashier's checks or money orders, which provide a secure way for tenants to submit payments without the risk of personal check bounces. When it comes to security deposit handling, compliance is key. You must adhere to all local and state regulations regarding security deposit amounts, holding periods, and interest accrual (if applicable). It's helpful to hold security deposits in a separate account designated solely for this purpose. This demonstrates transparency and protects tenant funds. 4. Share copies of electricity and gas safety certificates While some regulations require property managers to make electricity and gas safety certificates available on request, in certain jurisdictions, the property management company may be legally obliged to provide them during the onboarding process. Always consult with local regulations and ensure compliance to avoid any legal issues. In any case, by proactively providing copies of safety certificates, clearly explaining their purpose, and maintaining proper records, property management companies demonstrate a commitment to tenant safety and uphold a high standard of professionalism. This fosters trust and transparency throughout the tenancy. While the certificates indicate overall the electrical and gas safety of your rental property, as well as any potential hazards, emphasize the tenant's responsibility to report any observed issues or concerns promptly. 5. Schedule move-in To efficiently schedule the move-in, inquire about the tenant's preferred move-in date and time frame during the lease agreement signing process. If you're offering a few available move-in windows, strive to accommodate their preferred date and time, as this demonstrates your commitment to tenant satisfaction. If the tenant's preferred date is unavailable, propose options that minimize disruption, such as an earlier or later move-in time within the same day. Once a mutually agreeable move-in date and time are established, send a confirmation email or document outlining the details as well as a move-in checklist. Note that Second Nature includes a move-in concierge as part of its Resident Benefit Program. 6. Prepare the property for move-in day The onboarding process culminates in a meticulously prepared property for the tenant's arrival. Start by conducting a pre-move-in inspection and cleaning. This covers the entire property, including: Floors, windows, and all surfaces. Appliances Bathrooms and kitchens Ensure that all smoke and carbon monoxide detectors are operational, and have fresh batteries. Also, address any outstanding maintenance or repair requests, and verify that all applicable utilities are functioning properly. You'll want to take any meter readings in the presence of the tenant during the move-in process. Consider providing small "welcome amenities'' (toilet paper, tissues, light bulbs, and so on), as well as a welcome packet that includes contact details, important property information, trash collection schedules), and emergency procedures. Such gestures foster a sense that the property is being managed with care. 7. Deliver keys and share property manager contact information While the process of delivering keys and sharing contact information may seem trivial, it's an excellent occasion for once again demonstrating your professionalism and care for the property. First, coordinate a convenient time for the tenant to pick up their keys. This can occur during a move-in walkthrough or previously. Consider offering flexible options for key collection, such as collection of keys from the property management office, or secure drop-off at the property, if this is feasible. Maintain a record of the specific keys issued to the tenant. If the property utilizes key fobs or electronic access systems, ensure the tenant receives proper instructions and activation procedures. As far as contact information goes, provide the tenant with various contact methods, including any dedicated phone lines for tenant inquiries and maintenance requests, email addresses for non-urgent communication, and access to an online tenant portal (if applicable) for rent payments, maintenance requests, and communication. If you have not already done so, outline your operating hours and response timeframe for inquiries and maintenance requests. Provide a separate after-hours emergency contact number for urgent situations. 8. Leave a welcome message, card, or gift pack for the tenant While not essential, incorporating a personalized touch during the onboarding process can significantly enhance the tenant's experience. For instance, a brief handwritten note left at the property upon move-in adds a personal touch, as does a warm welcome email. Such a message can express that the tenant has chosen your property, offer availability to answer questions, and reiterate important contact details for the tenant's reference. Professional greeting cards with similar messages are also an effective way of enhancing your brand, particularly when co-branded with local restaurants and grocery stores to offer discounts or coupons. Another option consists of gift packs containing small, practical items such as basic toiletries, coffee/tea/baked goods, or cleaning supplies. Ensure that any message, card, or gift reflects a professional tone and avoids overly personal greetings. 9. Follow up after one week with the onboarded tenant to get feedback An optimal onboarding process extends beyond the initial move-in. Following up with the resident after a week demonstrates your company's attentiveness and professionalism, and goes a long way toward boosting retention rates. Schedule a follow-up call or email approximately one week after the tenant has settled in (at which point they will have become well acquainted with the property). A call allows for a more personal touch and enables the tenant to voice any concerns directly, while an email gives them the flexibility to respond at their convenience, as well as providing a written record of the communication. Sample wording might go along the lines of: "I hope you're settling in well at [property address/name]. Is there anything we can help you with?" or "We hope everything is going smoothly after your move-in last week. Do you have any questions or concerns we can address?" Remind the tenant of the various contact methods available for the property management company, and address any raised concerns promptly to demonstrate your willingness to assist in resolving issues. You may also wish to consider incorporating a brief tenant satisfaction survey into the follow-up e-mail, if you've chosen this approach. This can provide valuable insights into areas where the onboarding process can be further improved. 10. Schedule periodic rental inspections with the tenant A crucial aspect of responsible property management involves conducting periodic inspections. Here's a professional approach to scheduling these inspections while fostering a positive relationship with the resident. Clear communication is paramount. It's important that you outline the frequency and purpose of inspections within the lease agreement, and explain the rationale behind inspections, emphasizing property maintenance and ensuring tenant safety. Of course, you'll reserve the right to conduct immediate inspections in case of emergencies or suspected violations of the lease agreement. However, prioritize informing the tenant whenever possible, and always adhere to local and state regulations regarding the frequency and notification requirements for rental inspections. Before scheduling an inspection, provide ample written notice. This allows residents to prepare the property and minimizes disruption. As necessary, work with the tenant to find a mutually agreeable date and time for the inspection. Allow the tenant to be present during the inspection, and limit the inspection to the essential aspects, avoiding intrusion into personal belongings (download our rental inspection checklist to ensure you’re covering all the bases). Then, provide the tenant with a copy of the inspection report, highlighting any findings or maintenance needs. Final thoughts Remember, an onboarding process is not just a series of steps; it's a tool to enhance communication, establish expectations, and create a positive resident experience. Our top recommendation for ensuring a world-class resident experience is to build a resident benefits program. Second Nature has pioneered the only fully managed Resident Benefits Package for single-family property managers. Learn more about resident experience management in our State of Resident Experience Report, or explore the benefits of a Resident Benefits Package.

Calendar icon March 20, 2024

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7 Best Property Management Newsletters

Property managers fill many roles and hold many responsibilities. That’s why it can be helpful for them to subscribe to leading industry newsletters and publications. These publications deliver strategic time-savings by providing focused, often actionable updates on market news such as real estate market fluctuations, investment property trends, and resident demographics. They can also keep you informed about updates to legal considerations related to rental properties, so you have a longer runway to adapt to any changing requirements. Finally, they’re an ideal way of keeping tabs on the latest in best practices and tech advancements, so your operational toolbox always has the best tools available, for what can often be a challenging role. In this post, we’ll survey some of the top newsletters in the industry, and provide quick takeaways about what makes each worth the read. 1. Second Nature's Triple Win Newsletter Our very own bi-weekly newsletter is a fun and informative digest of all things property management, with a focus on our "Triple Win" approach, which favors conditions that benefit residents, property management companies, and owners alike. We make it engaging and helpful, with sample content including articles such as "Improving Delegation with the 'Who' Not 'How' Approach," "Property Management Horror Stories," and "How to Install and Manage Processes in Property Management," plus interviews with industry veterans, our take on the best of social media, and the occasional PM-focused meme. Subscribe here 2. Peter Lohmann's Newsletter Peter Lohmann is the CEO & principal broker of RL Property Management, a residential property management company located in Columbus (Ohio). His weekly newsletter has 5,000 subscribers, and according to a recent social media posting on Twitter/X, focuses on “sharing everything that works as we grow our property management business.” A testimonial from one newsletter subscriber describes the content as “honest, objective, and eye-opening,” and this does appear to be the brand of the email newsletter, as it is written in a personable, conversational tone that covers a wide range of meaningful content and marketing strategies, ranging from how daunting it can be to hire a new COO, to extended discussions around client churn (using data from his own company), as well as spotlights on conferences, local events, and new technology. Subscribe here 3. PlanOmatic Monthly Beaker PlanOmatic provides photos, floor plans, and 3D tours for single-family rental property owners and property managers. Their monthly newsletter, The Monthly Beaker, bills itself as “everything you need to know about SFR, once a month, in one place.” Although it is still a fairly “young” publication at just over a year old, it has already garnered over 750 LinkedIn subscribers to go along with their email list. It’s easy to see why – the format makes it a lot of fun to read, with an introductory editorial segment delivered in a conversational tone that nevertheless provides a significant quantity of information. This is typically followed by a series of quick hits consisting of proprietary insights into the SFR space, important data from around the sector, and final bullets providing key takeaways (“Everyone knows this stuff and you should too”) from the property management industry. Subscribe here 4. National Rental Home Council As the non-profit trade association of the single-family rental home industry, the National Rental Home Council (NRHC) publishes a wealth of resources for its different target audiences. NRHC’s intent is to support legislative and regulatory frameworks that incentivize housing providers to augment and enhance accessibility to a range of fair housing options for both homeowners and renters. This means its resources are designed to be of interest to a variety of different stakeholders within the rental market. Members receive a weekly Briefing Report on the single family rental home industry, the Quarterly NRHC Newsletter, and a Weekly Newsletter featuring national coverage and news alerts. For non-members, the NRHC issues regular news releases, as well as resources including FAQs, reports and primers, fact sheets, and videos. With archives dating back to 2015, this site is a valuable and well-established industry resource. Visit the website 5. The Evernest Newsletter Evernest’s focus is on single-family houses, condos, small multi-family buildings, and HOA management. It manages over 15,000 properties for over 6,000 owners, and its HOA and Association division serves over 17,000 homeowners. As for the Evernest Newsletter, its email list consists of over 18K landlords and real estate industry investors, all signed up to receive educational content for DIY landlords and real estate investors. This real estate newsletter also publishes content related to new podcast episodes from the Evernest team, articles and videos, and community content as well as information about upcoming events. Subscribe here 6. Jordan Muela’s Newsletter Jordan Muela has been in the property management industry for over 10 years, and is currently CEO of LeadSimple and co-founder of ProfitCoach. He started his now bi-weekly newsletter in 2021, which counts 4k property manager subscribers, and focuses on “people, process, and profit,” as he puts it. With catchy headlines and informative content, it’s worth browsing his page of posts to get a sense of his coverage. Sample headers include “Why what triggers you is a gift,” “There's a simple test to understand how aggressive your fees are,” “It's ok to want to quit,” and “2023 National PM Pricing Report”: suffice it to say that it’s all highly varied and readable stuff. Subscribe here 7. Marc Cunningham In addition to running the PM Build website, Marc Cunningham is the President of Grace Property Management & Real Estate. He's regularly featured in national real estate publications and podcasts, holds multiple designations, invests in residential and commercial real estate, and was named the 2018 national property manager of the year by Think Realty. At PM Build, Marc publishes a monthly video newsletter that addresses current topics and trends in the real estate property management space. With accessible topics such as “How To Deliver Bad News To Owner-Clients, “Top Tip To Be Successful In The Property Management Business," and “6 Numbers To Measure The Success Of Your PM Business,” his content is of immense value for new and seasoned property management companies alike. Watch episodes here Hungry for more news? Visit Second Nature’s Triple Win Property Management Blog

Calendar icon March 15, 2024

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