All Forum Posts by: Nadir M.

Hi @Nadir M.,

I have a couple of recommendations regarding your website:

1- You might consider taking screenshots of your google reviews, adding those to your testimonials page, and linking back out to those reviews. They are all 5-stars which is great and should be highlighted.

2- Also consider adding 1 or 2 of these reviews to your other pages so your website visitors see testimonials throughout your website.

3- I recommend getting as many reviews as you can. When I do a search for "property management companies denver", the top 3 companies that come up in the google map pack have 703, 882, and 218 reviews. 

4- Have you considered adding an intro video to your website? Having a youtube channel where you talk about your services, how you help people, customer testimonials, and answer common questions helps with seo. Youtube is owned by google and is the 2nd largest search engine. Maybe you already have a youtube channel? I didn't see one linked up on your website.

5- Do some competitive research on property management companies in your area that are coming up on the 1st page of google. What are they doing well? What are they missing? What can you do better?

I hope this helps. Please let me know if you have any questions.

5 units isn't enough to justify paying for PMC software.

Check out all the free options.

Nadir, ask ten people and you may get ten different answers. Software can be very subjective. What works best for me with 400 units may not work well for you with 100. Here's some generic guidance.

Software is a common question on BiggerPockets. Here are some things to consider:

1. Most investors don't need software until they have 5-10 rentals. You only need a place to track tenant information, payment history, maintenance, etc. You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it. Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.
2. Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. Do you need all this for a couple of rentals?
3. There is no perfect software out there. Every system you try will have flaws, or you may salivate over a feature that appears in other software.

Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.

I recommend conducting thorough research on each app online to understand their offerings, pricing, etc. Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements. Try to narrow down your options to the top 3-4. Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function. Perform the same task in each app to ensure a fair comparison.

• Load a property with pictures and details.
• Market that property.
• See what your marketing looks like from the public's perspective.
• Submit a fake application to see how easy the process is.
• Run a credit/screening report on yourself.
• Enter a maintenance request, assign a vendor, and attach a fake invoice.
• Enter charges to the tenant's ledger.
• Enter recurring charges and automatic late fees.
• Sign documents electronically.
• Run owner reports.

After testing a few apps, one should clearly stand out. It's important to choose that one and commit to using it. Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object. You should only consider switching when your current software has a significant flaw or lacks features that force you to spend excessive time on workarounds. At that point, it's worth researching and finding a solution that better meets your needs.

How many units?

 First things first, do you have a broker's license?  Do you have the proper insurance?  Next, what makes you different then Grace Property Management?

Are you an investor? Do you own rental property? Why are you starting the property management business?  Are you a solo shop or a company with employees?

First, establish an online presence and join local groups and orgs to get your name out. Build slow and go from there. If you can solve a problem, that no on else has done yet, then go for it. However, property management is not easy. It's dealing with people; usually upset people, and managing a lot of things at once. We do it for our own properties, and the burn out for a new PM without PM experience is huge.

Prob. stay from online property management platforms. Not sure you will yield much success going through that route. I know a few people who are realtors in real life from BP and had a horrid experience with the BP lead engine.  It appears to be pricey and may not lead to the success you are looking for. Just trying to save you some time and money.

Buying leads is often a fool's errand. The easy path rarely produces a good return.

It's hard to build the business when you are just starting out. How will you differentiate yourself from the competition when you have little/no experience?

I recommend building your elevator pitch (30 seconds or less), your uber presentation (five minutes), and your listing presentation (up to 30 minutes with supporting materials). You have to be prepared to sell yourself quickly or in detail. The more detailed presentations include the ability to answer questions off the cuff like a professional. Things like:

1. How do you handle evictions?

2. What does the law say about emotional support animals?

3. Tell me why you're charging X when the other company charges Y?

I also recommend building some simple marketing materials. Call around to all the real estate offices that do not provide management services. Ask if you can give a 5-minute pitch during their next sales meeting to explain what you do and why they should refer people to you. Leave some materials for their agents to keep on hand. Offer a referral fee. Offer to send the client back to them if the client decides to sell.

-join asset owner and investor associations 
-network with sales-only real estate companies
-try to be a guest blog writer on relevant websites (e.g. "for rent by owner", investors)
-search for non-homestead properties in your county and send postcards to those owners that own homes that meet the criteria you want to focus on
-network with real estate attorneys 
-network with trustees in banks that offer trustee services
-look up court records of landlords who have filed their own evictions and send them postcards 
-network with HOAs that have non-homestead properties in that association 
-when you see a "for rent by owner" sign in your area, send the owner a letter 
-join Facebook groups (for rent by owner, landlords) and being to contribute 
-improve your SEO on your website
-find someone who can help you gather landlord info from Zillow, etc. 

to name a few :)