Peter Lohmann's Newsletter - Issue #100

WELCOME TO ISSUE NUMBER ONE HUNDRED!!!

I started this newsletter in early 2021.

My first issue went out to 6 subscribers. One of them was my personal email address.

It feels surreal to look at my newsletter data and see that the previous issue went to more than ten thousand engaged readers. It’s almost unbelievable.

Yes, we’re celebrating two milestones today. Issue #100, and hitting 10k subscribers, happened simultaneously. What are the odds?

I don’t know what else to say other than THANK YOU.

I’ll keep sending, if you keep reading & sharing.

Onward!

-Peter

P.S. Should I try a new email subject line for issue #101?!?!

THIS ISSUE IS PRESENTED BY UTILITY PROFIT

Poll Results From Last Issue: Do you require proof from tenants that utilities have been set up in their name before handing over the keys at move-in? 

I agree that this is important, but it can be operationally challenging! That’s where Utility Profit comes in. They help tenants set up utilities. Utility Profit is free and generates revenue from the utilities that tenants set up. I’ve been extremely impressed with their tool. They’re working with more than 250 property managers across +75,000 homes.

My PM Co-Founder Is Hosting a Maintenance Workshop

I co-founded RL Property Management in 2013 with Adam Rich (he’s still 50% owner, but now runs a real estate services engineering company that we own).

Adam is licensed Professional Engineer (P.E.), and single-handedly built our maintenance division. Last year, that side of our business did around 900k in revenue (almost 40% of our total revenue).

If you don’t have a well-run maintenance division attached to your property management company, you’re missing out on a huge opportunity. I do not use the words ‘huge opportunity’ lightly or often, by the way.

I finally talked him into sharing more about how he built ours, so we’re hosting a live webinar to reveal all the details.

Register here (I’ll send the recording out if you can’t make it live).

New Property Management Companies For Sale This Week

• Here is a property management company for sale in San Diego, CA (480 units, asking $960k)

• Here is a property management company for sale in St. Louis, MO (asking $260k)

• Here is a property management company for sale in Denver, CO (64 doors, asking 300k).

• Here is a STR/LTR management company for sale in Florida (asking $950k)

• Here is an association management company for sale in Florida (asking 516k).

Industry News and Events

• LeadSimple’s 2nd annual user conference was just announced — It’s in Austin again — which is a great place to be in December! Naturally I’ve secured a great discount for newsletter subscribers. Use this link for $150 off the retail price of $1,000. Can’t wait to see you there! Want a taste? Check out last year’s sizzle reel.

• Property Meld’s Co-founder Ray Hespen did some digging and found some fascinating data about increases in the average service call price since 2018. No wonder our clients are so grumpy!

• A multifamily PM company called ProperXPM has raised 100M from a PE firm to acquire property management companies.

Closing Thought

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Stats from last week’s issue:

Valid Recipients: 10,546

Open Rate: 58.5%

Clickthrough Rate: 5.6%

Most Popular Link (179 votes): Utility Transfers Reader Poll (see above)

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

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.