Learn. Improve. Succeed.

Property Management Mastermind Show

#147: Finding Solutions In Maintenance Hotlines Ft. Todd Ortscheid.

Jul 14, 2022 by Brad Larsen

Is your maintenance line constantly ringing? Or losing information because of different data software packages. Todd Ortscheid, Co-Founder & CEO at Always There Repair, talks with Brad about what his team has developed to make first-call solutions and repair logs into your database without hassle. Plus, how to fee max your property.

Links: https://www.propertymanagerassist.com/


Brad Larsen: Hey everybody. On today's podcast, when we talk to Todd or Chide about his new service offering and property manager assist, check it out.

Announcer: Welcome to the Property Management Mastermind Show with your host, Brad Larson. Brad owns one of the fastest growing property management companies in San Antonio, Texas. This podcast is for property managers. By property managers, you'll hear from industry leading professionals on best practices, new ideas, success stories and lessons learned. This is your opportunity to learn about the latest industry buzz surrounding property management, as well as tips and strategies to improve your business.

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Brad Larsen: Welcome, everybody, to another edition of the Property Management Mastermind Show. I'm your host, Brad Larson and today we are live and in person PM Con 2022 here at the Red Rock Resort in Las Vegas. And since we're live, I've got Todd or Chad with me. I grabbed him over there off a table. He was having lunch. I said, Hey, man, we could do a podcast. He's like, on what a good question. On what? Let's just let's go over there, start talking. Now, honestly, I want to pin you down and talk to you more about your new maintenance company offering, because I think that's pretty fascinating. A lot of people have questions about it. It's there's other solutions out there. And I think there's always room for competition, there's always room for improvements. And so I wanted to talk more about that specifically. So give us a few minutes to intro yourself and then let's talk about that maintenance program.

Todd Ortsheid: Yeah, sure. Well, thanks for having me. It's great to be here at PIMCO Con, which I keep telling everybody is the best PM conference in the industry. So fantastic. But yeah, we've got the new maintenance company going on, but just about me. I've been in property management for about 11 years now. I guess it is Revolution Rental Management, my management company, we're in Georgia and Florida and about to be South Carolina, and I've kind of branched out and done some other things as well.

Brad Larsen: Hey, little man, time out. South Carolina.

Todd Ortsheid: Yes.

Brad Larsen: Are you buying somebody?

Todd Ortsheid: I am another one.

Brad Larsen: When you get to disclose that, I will.

Todd Ortsheid: We close on the 13th and next month. So that'll be the 13th of June.

Brad Larsen: So range of homes will you be managing?

Todd Ortsheid: That's going to be an additional 300 homes. Okay.

Brad Larsen: So I'm one of like 313 homes in this location. And then people are like, oh, we know exactly who that is, you know? Okay, so South Carolina, that's a good chunk of homes into an acquisition. That's nice. Oh, yeah. Okay. Because you're one of the unique few that can manage in several different markets.

Todd Ortsheid: Yeah, we centralize pretty much everything except the boots on the ground, you know, go out to the property, take photos, that kind of everything else is handled either remotely in Mexico or in our office in Atlanta.

Brad Larsen: Yeah, you and I are a lot of like there. We do a lot of remote team members and other than stick a sign in the yard and take pictures of a renewal, I mean, you can do a lot of that remote, all of it remote. It crazy. A couple of things now just a side tangent. Our application processing is done all remote because the team person, the remote team member we have, she's so good. Her name is Fernanda that she's been with us for four plus years that I no longer had to replace my other leasing coordinator that's in the office for, you know, God awful. So high salary. We turned it over to Fernanda. And so she's in Mexico doing our full time lease application hailing. This is 400 lease agreements a year. We typically do. And so she's handling, what, 1215 hundred and 2000 applications a year all remotely. Yep. So that's a unique one for that's that was kind of like, oh, do we really want to do this? You know, because it's a big thing to take off work, a local team members play, but the locals were like, nobody comes in anymore unless they're giving us a security deposit check or something for the amount due to reserve property. They're not coming in. They sign remotely, they go to the home. We we remove the optional lockbox, move in and made it mandatory.

Todd Ortsheid: Oh, yeah.

Brad Larsen: That's my point. It's like they're just doing it, like, don't come to the office, go straight to the home and do the lockbox. Yeah, it's just a tangent because we're talking remote team members and that was a big thing for me. The other big thing is we actually are now answering our phones live, so we remove the call prompter.

Todd Ortsheid: So there's none of the call.

Brad Larsen: No press one, no press two. Crap. It's like you're getting a live person and it's just like calling a Keller Williams franchise. Sure. Make it a great day, Todd. You know, you know, I mean and anyway, a couple of side tangents on remote team members because you and I are both big believers in that. Oh, yeah, the boots on the ground can handle it. So congratulations on your new acquisition. That's a big deal. Growth is always good and that's a great way to do it. The circle back and talk about your maintenance company, because I think what you did is you identified a need or an opportunity and you've honed in with your your already existing acumen of business mindset and you just started a new company. So tell me more about it.

Todd Ortsheid: Yeah. So it actually wasn't my idea. I mean, I had kind of thought about it, you know, a year or two ago on the maintenance hotline side. But I kind of put the idea aside. I said there's a couple of other players in the market, you know, I'm going to stay out. And then a few months ago, Lori Wilder, who's my business partner now and this this business came to me and said, hey, you know, I've got background in this. I've been doing it for one of the competitors, but I want to go and start my own thing. Would you be interested in basically running the business side of that for me? And, you know, I'll put together a couple of partners and, you know, get this going. And I said, it sounds like a good idea to me because even though there are several solutions out there, I personally haven't been happy with any of them. I know it's what a lot of people think is a gap in the market is a really good solution for maintenance hotlines. So I was interested in doing it and we got that up and running in just three months, basically from the time she called. So and it's exploded in growth since we launched in I think March, if I remember, right. So yeah, it's been going fantastic.

Brad Larsen: So I mean, a couple of softball questions for you, right? The first one is going to be how is it different from. Some of the other competitors because that's what everyone else is going to want to know. Like if they're listening to this, they probably have a management company or involved in management somehow. They probably know of the solutions out there because it's, you know, the 24/7 maintenance hotline. I mean, everybody has that side story and I'll let you answer that question. So I first implemented a hotline like this, and that player is no longer even around the market. Oh, yeah. Sold and gone. And I did that on July 4th weekend, I think it was 2013. And I distinctly remember that cause I was small.

Todd Ortsheid: Way.

Brad Larsen: Back. Yeah, I was, you know, 150, 200 homes and a somewhat smaller and I was still taking phone calls for dealing with that junk. And I hired that 24 seven call center thing and the phones just stopped ringing. All of a sudden, it was like a revelation. Right? And so this is I can imagine what you're doing for some of your customers to say, look, I understand you've been taking these calls. I understand your handyman that doesn't answer his phone has been taking these calls in air quotes. Now, we're going to do that for you and do it really, really professionally. So back to that original question. Tell me more about how you're different from some of these other players.

Todd Ortsheid: So I think there's two major differences. The first would be one of the major competitors we have has their own software. They're really more of a tech company. And I'm always the first one to tell everyone, I do not do tech. You know, I implement a lot of technology, but I'm not running a tech company. That's not what we're trying to do here. We're trying to run a service based business where we're making sure that the phone calls are getting answered and people are being dispatched. I'm not interested in putting together my own software package. So, you know, a lot of people aren't able to use some of the solutions that are out there because they're on property mail or they're on rent vine or whatever they may be on. And they don't want to have to use someone else's software to handle their maintenance. They want to use what they're already using through us. That's possible. We don't have our own software package. You have to use you can use whatever you want. And we work with all the major software companies, so that's not an issue. The other thing is the other companies are using backup call centers. So a lot of what you'll find when you call in is they're busy, they don't have the staffing. So it kicks over to a secondary, basically just an answering service that they have. They take a message and then call the tenant back once the call center people are available again. Right. We're not doing that. We're over staffing the company so that when you call in to us, there's no hold times. There's no being kicked over to a second call center. You're going to get our people who know this stuff inside and out. So our idea here has been a premium level of service without all the tech trappings. We're just trying to solve your problem with premium service levels.

Brad Larsen: The roadblock there, and this is from years back when I was looking at the solution. I remember one, we'd have to use their software and you said, Well, wait, can't you just log in to mine? I think I was on Folio at the time. Can't you just log in at Folio and do some of these things that you were talking about? And the answer was no. I mean, if you remember that. Oh, yeah. And so I'm like, okay, well, so we have to use your after hours maintenance software thing and do double entry. Is that what you're telling us? And where are all the notes and where's all the stuff that we need to have that shows that this person called in? And anyway, my point being is it's not just I mean, how does that work? You just get the log in for them or do they create another user?

Todd Ortsheid: Yeah, typically what they do is they'll create a user for us so we can just log into their software and get whatever, do whatever we need to do there. So I mean, it doesn't matter whether they're on app folio rent, fine, whatever we're happy to work with and we.

Brad Larsen: Put on a user only scale or.

Todd Ortsheid: Something. Yeah, you can always set your user limits, your permissions, whatever your individual software calls it. And then, you know, we're not we're not going to have access to all your accounting information and all that other stuff. We're just there to do maintenance. That's all we care about. And to check your unit count is basically all we need to know. So you know that that isn't a problem for us. We're happy to do that with anybody. Software Or if you're using property meld, you know, something that's, you know, an outsourced solution. It's not in your main property management software. We use that all the time too. So, you know, if the benefit there, I say to the property manager isn't just that you're in one software, it's also that you own your data, which is always a big thing for me when you're going to somebody and they have their own proprietary software, they have your data at that point. So if you leave that company now, you're losing all that information that they had stored in their system. You don't have access to that anymore. When you're using your own software, you don't have to worry about that. You're always going to have that. If you cancel my service, you've got everything still available in your software.

Brad Larsen: That's a good deal. And I like the fact that you work with property because a lot of the the PM clients that we understand and know of, they either know of property build or use property meld. And the other side of that I'm kind of interested in it is the data side of it keeping that data that's that's key because you know, again, what if you close down. Yeah, right. What if your servers are down and answering the. Let me ask you, I guess, an easier question. Can you set your own limitations for what you define as an emergency?

Todd Ortsheid: Yes, absolutely. So everything we do is completely customizable. So we use a special scripting call routing software. So when your call comes in, number one, we answer it in your name. So it's not us. There's it's all purely white labeled. So someone would call in, we would say, thank you for calling rent works, how can we help you? And then we would go through your procedures. So we have them all built out when we on you. We say these are our this is what your qualifications are for an emergency. This is when you want the owner to be contacted. If you're having us do owner approvals.

Brad Larsen: Oh, that's big.

Todd Ortsheid: All of this stuff is customizable.

Brad Larsen: That's I stop there real quick. Explain that because a lot of these services will make notes and then wipe their hands. Yes. Dun dun dun. So you're actually have the ability to call the owner, say, hi, Mr. Owner, it's so-and-so from Rent Works. It's Saturday evening at 9:00 and I have a technician in the driveway that needs to fix an air conditioning. They want to spend $501. Your limit is 500. I'm being facetious, but you understand the point. And yes, they reach the owner or the owner said, yeah, go and make that repair. Got it. We'll do it. Thank you. We'll talk to you later. Your property manager, we'll follow up with you Monday or something.

Todd Ortsheid: Absolutely.

Brad Larsen: That's impressive. And I say that because that's a lot of times where the sticking points come in like, hey, you had a technician here Saturday evening, but no one was answering the phone to give him permission, so he had to leave.

Todd Ortsheid: Oh, yeah.\

Brad Larsen: And oh, okay.

Todd Ortsheid: And the beauty of that is it's all customizable. So like you say, your limit might be $500. Somebody else like my and my property management company, we have no maintenance limits. It's just if we consider it to be mandatory, then it gets done. Yeah. So I mean, you can have that set also. It's just whatever you want for your systems and it's all built out. So when somebody calls in from rent works, that's what pops up on the system. It shows them these are the requirements, these are what we do, because for some clients, all we do is nights and weekends calls, and all we do is dispatch the vendor and that's it. Other clients, we're doing everything all the way through follow up. So, I mean, you could outsource your entire maintenance coordination and we'll do everything from not just dispatching and getting approvals and everything, but we'll keep following up until we make sure that the work's been done. So, I mean, you can do anything in between there, whatever you prefer.

Brad Larsen: Could you be a complete call center solution? So can you do the whole maintenance program? Yes.

Todd Ortsheid: So everything. Yeah. If somebody basically wants to outsource their entire maintenance operation, they can do that to us.

Brad Larsen: Okay. My limited scope of small mindedness was only like nights and weekends.

Todd Ortsheid: No, not at all.

Brad Larsen: You can actually do the whole thing.

Todd Ortsheid: Yeah. I mean, if somebody just wants nights and weekends, that's that's probably about 50% of our clients is just nights and weekends because they just want that. But then we have a lot of people who want everything from, you know, some people say just dispatch the vendor for me and then we'll follow up. Other people say, we want you to handle all of it. Just we don't want to have anything to do with maintenance ever again. And we're happy to do that for them to.

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Brad Larsen: All right. So talk to me about costs. Are you able to kind of quote numbers?

Todd Ortsheid: Yes, we're actually offering discounts right now. So when you look at our website, you'll see anything from I think it's a dollar 25 a unit for nights and weekends up to I believe it's $10 a unit for the full service solution.

Brad Larsen: That's pretty competitive.

Todd Ortsheid: Yes. Those are those are in line or less than the competitors. Okay. But we're actually have specials running right now. Since we're in our first few months of operation, we're generally discounting that about 20% for for people who are signing up. So if you contact us now, you'll probably get a better rate and we'll lock you in for at least a year on that.

Brad Larsen: Difficult question where all the call center people at.

Todd Ortsheid: So it's it's split up so originally when a call comes in it goes to our remote team members. So we hire people out of Mexico for the most part overnight. We have people on the other side of the planet. You know, Philippines server might be if there's an issue that needs to be escalated. So let's say that person doesn't know how to deal with it. A special emergency situation. We have people in the States also who have been in property management for years upon years. So we've always got that second level where it can be escalated live. They don't have to wait. You know, it's not. We'll get to it tomorrow. It's okay. I can't handle that. I'm going to transfer you to our live person in the United States. So it's a two sort of a two level operation. Yeah.

Brad Larsen: Yeah, because I'm going back to defining emergency because that's where you can define like if it's colder than ex outside, you will dispatch an emergency HVAC technician to fix your heat. If it's warmer than x outside, we'll dispatch the same thing to fix your air conditioning. That's kind of the limitations. I was thinking water is pretty easy to figure out, right? Hey, you got a water spill? Well, we're going to call a plumber to try to get out there right away. But in the meantime, go and turn off your valve. Yeah, stuff like that. Other stuff. We have a fire in a home call. 911, and he don't call us. You know, you get some of those questions from these tenants, I'm sure. What am I missing?

Todd Ortsheid: I don't know. I. I would just kind of elaborate on that a little bit. So, you know, when you talk about, you know, someone calls in and they've got a garbage disposal, that's a problem.

Brad Larsen: Oh, yeah. Good.

Todd Ortsheid: Good point. So, I mean, the big thing there is a lot of companies will just dispatch somebody. You know, if you call in to some of the call centers, all they're just going to do is automatically dispatch somebody out to take care of the issue. We don't do that, so we troubleshoot everything before we get anybody. Dispatch that's included as part of the service we do. So if someone calls up and says, I've got a garbage disposal problem are people are going to walk them through how to reset the garbage disposal, clear out anything that's in it, you know, and we have that for all kinds of different repairs across the books. We've got videos that we send out to the tenants. Yeah, all that kind of stuff. So it's not only are we taking it off your plate, but we're also hopefully reducing cost for your clients who aren't going to have these frivolous maintenance calls.

Brad Larsen: That's big because if you can show somebody, hey, this is how you press the red button on your garbage disposal, or my electrical appliances in my kitchen aren't working. This is how you reset your GFCI. Yep. You know, it's a button. And honestly, we have to be like that because in their defense you might have younger generation people renting for the first time, renting a home for the first time. You know, they come from apartments, they come from dorms and everything is done for them that an apartment or a dorm, right. So if there's any issue, they just call the local guy and they come and fix it. But in the home, it's different because it can be 30, 30 minutes away from the office or 2 hours away. It just depends. So it's interesting how that works, and I do love it. The pricing seems pretty fair. You had pretty good adoption so far.

Todd Ortsheid: Yeah, we've had it's actually been a flood of business. I've been overjoyed with how quickly it's grown. So, I mean, we're we're rapidly approaching profitability after only three months. Okay. So and we've had great feedback from the clients we've brought on. So we have plenty of people where we can refer if people want referrals.

Brad Larsen: Yeah, some might, but that would allow you to scale up accordingly, right. Once you hit profitability, then you're like, okay, if we can take on for fun 1000 bucks, 1000 units a week, you know, a new business. We have to scale up this many people. And so it kind of gives you that upward trend of how many folks you got to have on hand. That's good stuff. Now, anything else on that particular offering? Because I do want to switch gears and talk about PM assist

Todd Ortsheid: No, we can switch gears.

Brad Larsen: Okay. So the background of the listeners, so Todd and I did a presentation yesterday here at the PM Con I was talking all about like sales, like how do we retain sales inside of your company making more sales and selling to investors to keep more homes in the inventory, ultimately raising your revenue. And so that's been a big campaign of mine is revenue raising and of course, yours. But you and I have been beating this drum for years and I got stuck on the question people asked me, well, how do I do that? Well, I help certain people here and there. And it got kind of tedious, you know, honestly, because people would want this. They want this for me, this for me. And I don't I don't really want to, you know, I will help you, but I have other shit to do, you know. So really your solution has been fantastic because I've just been saying good go to PM assist. You know he's got the what. He's got the how. It's already right there. You can subscribe to his program. It's going to make you 100 times what you spend. I mean, it's just it's a no brainer because it's, you know, we talk about, well, how. How do I do that? I want to go to the moon. How? Right. And so that is the good solution. I'm not just beating the bandwagon here, but I'm just. I want to bring it up, at least from my perspective, and have you talk about it, kind of talk people about what it is.

Todd Ortsheid: Yeah, definitely. So. I mean, PM Assist has primarily been just a training platform over the past couple of years. So I came out with this in the middle of the pandemic and kind of the reason I came out with it was everybody was panicked because, oh, I can't charge late fees anymore. My tenants aren't going to pay the rent, you know, how am I going to make sure that the revenue keeps coming in? Oh yeah. And I said, Well, if you're concerned about revenue, here's a solution. These are all these things that you aren't doing yet that some companies like like mine are, you know, here's 75 plus different fees that we charge. So, yeah, maybe you're going to lose that late fee revenue for the next year because of this pandemic. But I'll make you ten times what you're going to lose on those late fees. So that's kind of where it all originated. And it's it's really a you could take it at your own pace. So a lot of people get overwhelmed with this stuff. They'll say, oh, you talk about 75 fees. I don't have time to do any of this. But the thing is, you can go through it at whatever pace you want. Once you sign up for it, you got forever access to the material. And if you want to take one fee a quarter, you can do that. You know, if you want to go balls to the wall and just do it all now you can do that too. And I have clients who do that.

Brad Larsen: The cool thing is not just like, Hey, charge this fee. You talk about what the fee is meant to be. You talk about the background of it and you talk about how to implement it. You put this here, you do this, you disclose it this way. You tell your owners, your tenants, this way you put it here. So the how of that is explained.

Todd Ortsheid: Yeah, not only explain, we actually provide materials, so we'll actually give you sample lease and management agreement language that you can plug right in and say, okay, this is going to save me a bunch of time. Now, I, of course, still tell everybody, run it by your lawyers, of course. But you know, it's they're ready, so you don't have to come up with it yourself.

Brad Larsen: Yeah, that's that's significant. What does that cost right now? 995 But that's going to go up.

Todd Ortsheid: Yeah, probably. But for right now, I'm going to say for the next I'll give everybody 14 days after this podcast airs. If they use the code, Brad, they'll get a 10% discount suite.

Brad Larsen: Because I get my 75% referral fee.

Commercial: Man Yes, yes.

Brad Larsen: No, I get nothing from it and you'll like it, as I say on Caddyshack, you'll get nothing and like it. I just think it's a good program because one, it kind of eliminates for me having to try and explain it because we talk about it and then we get bum rushed and I'm like, There's just a good solution there. Yeah, right. And you remember Darren and Dennis from. Oh, yeah, absolutely. They were coaching this stuff for a long time. Oh, digging through the garage the other day and I found an old printout from Darren Hunter. Had 100 ways to make money in revenue. Like 100.

Todd Ortsheid: Fees. Oh, yeah, yeah.

Brad Larsen: I don't know if you ever seen it. I might have sent it to you.

Todd Ortsheid: Yeah, back in the day. Absolutely.

Brad Larsen: And it had it printed out on a cardboard or not cardboard clipboard. Excuse me. And I'm like, God, these are still spot on, you know? And they still still.

Todd Ortsheid: Tons of people not doing any of it.

Brad Larsen: Yeah. Ten years.

Todd Ortsheid: And years later.

Brad Larsen: Still I still apply and Australia is even worse. They can't charge anything to the tenants. So it all has to be like these weird creative owner fees. But if you do something first service then you should charge for it. Yeah. What you also talk through is okay if you're going to charge this to attend it, this is how you make the owners whole. So you're not screwing over somebody by charging, I don't know, a security deposit alternative.

Todd Ortsheid: Yeah.

Brad Larsen: For example, you know, if you do that, you offer this to your owners as a guarantee, and so everybody wins in that way. So you also talk to them through some of the guarantee stuff they can they can kind of backside on with those fees, right?

Todd Ortsheid: Yeah. And some of that becomes, you know, a business development opportunity in some cases because you're able to offer guarantees that other companies aren't offering because of this additional revenue you're bringing in. Yeah. So not only are you able to kind of make them whole, you're also able to say, well, not only are you made whole, but here's this additional benefit you're getting, you know, as a result of me doing this. So, I mean, it works. I'm a very big believer in the second nature, triple win mindset. So I'm all about that. Nobody should be getting screwed just because we're making money. This should be good for everybody.

Brad Larsen: Put you on the spot here. Okay? I'm gonna give you a chance to think if you need it. What's the best fee program you've implemented in the last 12 months?

Todd Ortsheid: In the last 12 months would be our alternative income verification fee.

Brad Larsen: Oh, I heard about that one. Yeah, I love it, because that's real deal, though. I mean, because you have to go dig. This is for like the the folks that are self-employed.

Todd Ortsheid: Or self-employed or you know, they work at Uber, you know, whatever it may be like an.

Brad Larsen: Event. We had one the other day. They came in and they had no social no credit. Yeah, credit score because they had no social security number. But the bank accounts showed quite a bit of income. Oh, yeah. And now you're asking my team to be like, you know, forensic accountants and trying to figure out if they make enough money to pay the rent. Yeah, so I get that. I mean, there's two X's or three X's with it.

Todd Ortsheid: On the amount. Yeah, there's three.

Brad Larsen: Okay. Well that's fair.

Todd Ortsheid: Oh yeah. That's what I say, you know, and, and honestly, people don't balk at this kind of stuff. The reality is what you're doing is providing something that somebody else isn't. Whenever you do all of this kind of stuff, I always tell people that, you know, a lot of times they're going to go to a property manager, they're going to apply and they're saying, I'm self-employed or I've got 200. Thousand dollars in the bank. I'm good for it. And then that property manager is going to say no. Declined. You didn't pass our normal. Yeah, and we're saying no, we'll do that. But here's the process you have to go through and here's what we charge for it. And people are much happier with that. You know, they don't want to hear. No, they want to hear. Well, that's unusual. We'll do it. But this is what it's going to cost you.

Brad Larsen: Fair enough. I haven't quite reached the numbers you have with revenue, but we're up there on at least on the profit margin. So we're doing good. One of the things that we did recently is you always have these incremental increases with like application fees. So just kind of you got to pay attention, otherwise you'll miss out. The one is we redesigned it to with the pet fee policy, so we tied in pet screening, right? Or we gave them an out. So either you have two choices. When you apply, you can go to pet screening and pay the fee and abide by whatever paw score they come up with. Or you can opt out and just pay us x x per.

Todd Ortsheid: Month nice for whatever.

Brad Larsen: Pet you have. So it kind of gives them the easy button. So we're getting about 50, 50%.

Todd Ortsheid: Say that I might implement.

Brad Larsen: That. They're just saying, heck with that. I'll just take the easy button because no offense to pet screening, we do love them, but it is a little tedious. You got to apply, you got to fill in your stuff. You got to provide them shot records, you got to provide them veterinary information, get upload pictures. And, you know, it's a little tedious and people are busy. They're like, screw it, I'll just pay the exit out next month. And so that's the one thing we did. I think that's a winner now to back that up, to make the owners whole. Going back to that, we give a 2000 pet guarantee to the owners. So we'll cover the damage of a pet type situation up to 2000 bucks. It's no cost to you, Mr. or Mrs. Owner. It's just included to make you whole because we are keeping the pet fees. Yep. And owners are like, okay.

Todd Ortsheid: What's better for them?

Brad Larsen: Better than a pet deposit? What's a pet deposit? 200 bucks.

Todd Ortsheid: 200 bucks isn't ever going to help anybody if there's real damage to a property. That's what I keep telling everybody about this is, you know, the owner ends up ten times better off with the pet guarantee than they ever would under a deposit situation.

Brad Larsen: Literally ten times. Yeah. And then, of course, if we did something like that, we would own that debt so we could go after the tenant. Yep. So it's really a no lose situation. It's great for marketing. It's a great and explanation process of pets. We tie it into our 21 day rental guarantee as well. So if you want us to rent your home in 21 days, you have to allow for pets, right? I mean, otherwise, how can we rent your home that fast?

Todd Ortsheid: You're knocking out half the market if you don't.

Brad Larsen: Literally have the market's gone. So cool conversation today. Appreciate it. So PM assist is the place I know.

Todd Ortsheid: Property manager assist for the for the revenue maxing or always their repair CO for the maintenance coordination.

Brad Larsen: Oh, awesome. Todd, appreciate you coming in, man.

Todd Ortsheid: Yeah, thanks.

Brad Larsen: Appreciate it. All right. Thanks.

Commercial: Resident interface is a comprehensive delinquency management solution for property management companies that serve rental properties with over 500 units located in Florida, Georgia, Maryland and Texas. Resident Interface offers property owners and managers of financially transformative in to end delinquency management experience. We are a single contact responsible for the entire process, from late payment to eviction management and final debt collection. And we help increase net operating income through technological innovation, operational transparency and respectful recovery procedures. Learn more today at Resident Interface

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About The Host

The Host of this Podcast is Brad Larsen from San Antonio, Texas. Brad is the founder and owner of RentWerx, one of the fastest growing residential Property Management companies in Texas that currently manages over 700 single family homes.