Peter Lohmann's Newsletter - Issue #116

New: Watch Me Build & Automate a Property Management Process in Real-time

My most popular YouTube video of all time is simply a screen recording of me doing a “New Property” process buildout in real-time.

I only made one video like this, and that was over two years ago, so I figure it’s time to make some more—and take things up a notch.

On Thursday Nov 7th, join me a for a workshop where I’ll spend 90 minutes building a property management process for a volunteer in real-time. You’ll get to see and hear my thought process, with live Q&A. Everyone who attends live will get access to a copy of the final move-in process that we end up building. I’ll be joined by property management consultant Kelli Segretto (she loves to make fun of me btw, so you won’t want to miss this).

We’re going to build a Move-In Process (red box in the graphic below):

I’m going to use LeadSimple to build the process, but the same approach should work for any process or workflow tool.

Did I mention I’m looking for a volunteer? If you have your move-in process memorized (or written down somewhere), but it’s not yet in a workflow or process software tool, I would love for you to fill out this quick form for consideration.

Alright, I think that covers everything!

THIS ISSUE IS PRESENTED BY RL PROPERTY MANAGEMENT

Today’s issue is sponsored by my own property management company, RL Property Management.

Why is my management company sponsoring my own newsletter?

Two reasons:

1. We’re looking for central Ohio rental owners who want high-quality property management for their single-family or small multifamily properties. Must be located in “nicer” areas with a long-term hold mindset.

2. I’m personally looking to talk with Ohio property management business owners about what their long-term plans are for their company. I’d like to be a resource for business owners looking to discuss their options when it comes time to sell or retire.

If that’s you, or someone you know, reach out and we’ll set up time to talk.

My Takeaways from NARPM National in Dallas

I’m still riding the high from spending all week with property management business owners, operators & vendors. There’s truly nothing else like it, at least for me. If you haven’t been to a property management conference yet, I highly encourage you to do this. Doesn’t matter which one. Just get out of your office and spend a week with people who understand you at a fundamental level. It’s incredibly validating.

In no particular order, here are some of my thoughts and observations from NARPM’s largest annual conference:

1. The after-party scene is getting elevated. Vendors are investing more and more into creating memorable post-session experiences.

2. Introverts love PM conferences despite the energy it draws out of them. I met so many people who talked about needing a week in bed after 3 days at the conference—but they still came and still loved it.

3. Drinking is overrated. More and more, folks are avoiding alcohol and sticking to non-alcoholic drinks (or other things). I think this is a good trend overall. Fewer foggy mornings and less embarrassing, regrettable behavior.

4. There is a sense that 2024 is a pivotal year for the industry and its vendors in particular. The competition between vendors has never felt more acute. The idea that “there are plenty of money/deals/properties for everyone” seems to be fading. You can really feel some jockeying for position going on among the vendors (which is great for us PMs—more competition).

5. When attending a conference, it’s worth planning ahead to figure out which events you want to attend and what people you’d like to meet with. If you don’t set your agenda, it will be set for you by others (or random chance).

6. Crane hosted a members-only event and had a great turnout! Thanks to all who attended. It was great to meet several of you face-to-fact for the first time.

   

   Crane members event, Dallas TX, Oct 2024

New Property Management Companies For Sale This Week

• Here is a property management portfolio for sale in Baltimore, MD (asking 100k, 35 doors)

• Here is a property management accounts for sale in Davenport, FL (asking $210k , 30 accounts)

• Here is a property management book of business for sale in Polk County, FL (asking $400k, 35 units)

• Here is an HOA management company for sale in Sacramento County, CA (asking $4.0M)

• Here is an HOA management portfolio for sale in San Antonio, TX (asking $72k)

• Here is a mid-term rental management company for sale in Huntsville, AL (asking 975k).

Industry News and Events

• Got conference FOMO, or missing your PM friends already? I have a special discount code for LeadSimple’s user conference (LSU) coming up in December. I’ll be on stage with Jordan Muela announcing the results of a brand new property owner survey crafted specifically to deliver insights for the property management industry. Register for LSU with this link for the discount (expires Tuesday!!!)

• While you’re in Austin for LSU, stick around for RentScale’s awesome 1-day conference. I’ve attended multiple times; huge value. Early-bird pricing ends November 15th.

• AppFolio’s FUTURE conference was this week, and I’m hearing rave reviews. I am making a point to attend next year. They made several product announcements which are covered in this press release.

Closing Thought

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Stats from last week’s issue:

Valid Recipients: 12,589

Open Rate: 62.3%

Clickthrough Rate: 5.3%

Most Popular Link (87 clicks): The New PM Operation Standards (Get your copy)

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That’s all for this week! Have a great weekend. -Peter

^{Peter Lohmann's Newsletter: Data. Details. Dedication.}

The content of this newsletter is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this newsletter. Additionally, some of the links included in this newsletter are affiliate links, meaning I may earn a commission if you make a purchase through these links. Always perform your own due diligence before making any financial or business decisions.