Property Management Industry Trends 2018

Elevate Operations, Systems, and Talent on both Pre and Post Sale Sides of the Business, or Become Irrelevant On November 9th, 2016, we gathered a group of industry leaders on this podcast live at the NARPM National Conference in Hawaii. Our aim was to decode the future industry trends and help property management entrepreneurs develop strategic plans to take advantage of industry opportunities. We discussed: Industry consolidation Competitive advantages of smaller independent companies Tasks for the CEO of a property management company Building a company culture Property management technology Today, we’ve gathered the same group of people on The Property Management Show to update our vision for 2018 and beyond. Guest Introductions Andy Propst is the CEO of HomeRiver, one of the largest privately-owned property management platform companies with operations in 15 states. He’s the past national president of NARPM, an international speaker, and one of the most respected thought leaders in the property management industry. He also speaks fluent Russian and made a movie about his experience as a missionary in Russia in the late 1990s called The Saratov Approach. Michael Monteiro is the CEO of Buildium, and has spent the last decade turning Buildium from a home-grown software solution that was created out of individual frustration to one of the largest property management software companies in the world. Over 12,500 property managers are using Buildium, and Michael is going to help decode the future of the industry. Jordan Muela is the CEO of LeadSimple, the first and only true CRM and sales process solution for the property management space. He’s the co-founder of PM Grow Summit, which is the fastest growing annual conference for top-level property management entrepreneurs. Jordan is also the co-founder and CEO of Profit Coach, and he authored the only property management financial benchmarking study of its kind, which demystifies profitability. Alex Osenenko, your host, is the CEO of Fourandhalf, a marketing company helping to solve growth for property management clients. Fourandhalf has grown over the last six years to 32 team members who are absolutely committed to their craft. Alex is a co-founder of PM Grow Summit and his latest venture has been the creation of the OnePartner Platform, which combines the latest conversion and SEO science into a website that drives quality leads for property managers on the front end, and a business performance dashboard on the back end, tracking actionable marketing and sales KPIs. The OnePartner team converts that data into decisions, driving a constantly improving process. With these four leaders talking about the property management industry, there are tens of thousands of hours of experience that can help your business fine-tune its pre-sale and post-sale operations. The Property Management Industry View for 2018: Accidental Landlords Cycle Out, Investors Cycle In In 2016, when this group first got together, there was still a large number of reluctant and accidental landlords, and their expectations of price and value varied based on their individual experiences. Today, the market has crested to the top of the cycle parabola, and economic uncertainty keeps amateur investors and accidental landlords mostly on the sidelines. The largest pool of prospective clients to emerge are sophisticated and disciplined investors, who demand transparency and results. Who is knocking on the door, and do those prospective owners match your perfect client profile? The Effect of Less Inventory One difference today is inventory. When accidental landlords were the predominant clients, there was a lot of inventory that couldn’t sell. Today, all those single family homes that used to be rental properties are now being sold. Inventory is going down,