This is the 2nd of our 12-part series called What To Expect From Your Property Manager. Whether you are your property manager, you are already in a property management relationship, or you are thinking about hiring a property manager, this series help you set expectations for performance that can only positively impact your profitability over time. In this episode Chris, Laci, and Gretchen discuss being able to list and communicate your minimum expectations and non-negotiables for your property manager. We are going to talk about motivation – yours and your property manager’s, communication and accessibility expectations, alignment and systems, fiduciary responsibilities, compatibility and performance, and doing your due diligence. I guarantee you will find tips tricks habit and mindsets you can you to make your real estate investments work for you – and not the other way around. SHOW HIGHLIGHTS Chris McAllister opens the discussion on the significance of establishing clear expectations and non-negotiables in property management relationships.Lacey LeBlanc and Gretchen Mitchell talk about understanding what real estate investors seek from a property management partnership for a successful collaboration.We reminisce about Roost Real Estate Company's growth from managing personal properties to serving a diverse client base and fostering strong relationships with clients.The ethos of Roost Real Estate Company is discussed, highlighting the commitment to providing homes for all individuals, whether they rent or own.The importance of system alignment and defined team roles within property management organizations to ensure efficiency and owner satisfaction is examined.We touch on the intricacies of managing different property types, including high-end rentals and those that accept Section 8 tenants in the post-COVID landscape.Key considerations for choosing a property manager are discussed, such as their legal awareness, broker involvement, and commitment to the owner's success.We explore the internal program "Have I Earned a Five-Star Review Today?" aimed at maintaining exceptional customer service and its impact on managing property managers.Chris and Gretchen delve into the practicalities of managing property managers, including monitoring online reviews and the importance of direct communication with property owners regarding rental income flow.Transcript samples from key chapters provide insight into the conversation, including the significance of a property manager's understanding of their fiduciary and agency duties, and the necessity of broker involvement for successful management. 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: Chris McAllister, here with the Landlord Profitability Playbook podcast, where it's my job to create and coach business opportunities and strategies that support and add value to the lives of real estate investors. I am not only joined today by my good friend and podcast partner, Laci LeBlanc, but also by our Director of Property Management at Roost Real Estate Company, Gretchen Mitchell. So good morning, ladies. Laci: Good morning. Good morning. Chris: How are you? Gretchen: Pretty good. Chris: Just another day in paradise. I'm not in Ohio, so not as good as you guys, I think North Carolina is a fine place to be hanging out today. So what I want to talk about today is a continuation of our first episode, which was about getting clear on what you want in a property management relationship and kind of that big picture, why. And today I really want to challenge our listeners to drill deep into the tactical detail, the day-to-day stuff you cannot and will not bend on, and I think that's important because obviously, if you hire a property manager, it's money out of your pocket. You know and again we absolutely believe it's with the right person it's an investment, it's not a cost, but still it's a cash outlay and nobody wants to, you know, lay out cash. So the question is what are you going to get for that cash and what are the things that you're just not going to take note for an answer on? So really it's about getting clear on your non-negotiables that make sense. Gretchen: Yep. Chris: And I think it's the kind of thing that you know if you can't get clear on this for yourself, if you can't detail your expectations for yourself, there's just no way you're going to be able to communicate them to anybody else. So it comes down to what do you want? What's important to you? Talked about on previous podcasts, but a question ...
