On today's show, Brad is going old school, having a throwback mastermind session with Paul Rush. One property management company owner to another they are hashing out some of the challenges they both face in the respective areas. They are having a question and answer session to give us an idea of what is working in their companies.
Paul owns Augusta Rental Homes in Augusta, Georgia, and they manage single-family and multifamily units. He got into real estate to flip houses, but he ended up with some rental homes and has now been in the property management business for about four years.
Brad and Paul discuss new acquisitions, the issues that can arise and how to stay on top of it all, and what happens if you don't. They talk about Paul's owner first philosophy, leasing fees, self-assist property showing, and some great things he has implemented in the last 12 months. You don't want to miss this episode; they have some good ideas that might give you a more profitable business.
Show Notes
[03:43] Welcome to the show, Paul Rush.
[03:46] Paul tells us a little about himself and his business.
[05:52] He speaks about his owner first philosophy.
[08:15] Brad chats about some of the ways his company takes care of the owners they represent.
[09:13] Paul gives us examples of how keeping the owner happy keeps them in business.
[11:02] They discuss leasing fees and how they try to get the tenants to renew.
[14:30] Paul tells us another example of how his philosophy works.
[17:23] What challenges do you have right now in your business?
[18:45] They talk about some issues that Paul is having with a property management company that he just acquired.
[21:29] Integrating the new company into their system ended up being an issue, their timing was off, and rumors started before they could get out in front of it.
[26:25] They discuss having the old property manager introduce the new one to alleviate any questions the property owners might have.
[29:38] Have you ever had a company you wanted to buy fall into your lap?
[33:02] Paul had another challenge when he kept some of the employees from the old company.
[35:33] He talks about the one on one training he gave them to get them up to date with the software he uses.
[38:32] Give us one great shining star thing that you have implemented in the last 12 months?
[41:47] Brad's company is considering waiving a lease preparation fee to get more people to do self assist property showings instead of using agents.
[43:21] Paul says that his company has never paid a commission to an agent to show properties they are all self-assist.
[47:31] Would you pay a fee to hold a property for a few days until all of the paperwork was complete?
[50:12] Paul tells his team to keep up the excellent work he is pleased with what they are doing.
Links and Resources:
Property Management Mastermind
Property Management Mastermind Group on Facebook
adisarro@sccombank.com
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)
(918) 728 8992 (Derek Scott with Insurance Management Group)
NARPM Southern States Conference
National Apartment Association
For the Property Management Mastermind Conference information https://pmmcon.com/
For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385