Cashing in on Property Management (302)

In this class we learn how to ‘turn a nickel-dime businesses into a money machine’ by generate revenue from residents, owners, and vendors without losing anyone. We’ll address the contractual issues, policy issues, and challenge of implementation of new fees and charges. We’ll address the ethical issues of who you disclose to, what you disclose, and when to disclose fees and charges. This class is all about making property management profitable.

3 HR Class with Handouts

This workshop is 3 hours and can be taught with (or without) Georgia CE credit. Topics can also be adapted for conference breakout sessions or luncheon events. It is not state specific. See table of contents below.

There is a 3 HR workshop and a one hour conference breakout session available. They are presented differently but basically cover the same topics. See table of contents for both below.

3hr GREC Course #60669

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3 Hour Class Description: Cashing in on Property Management 302 (Advanced)

In this 3 hour class we learn how to ‘turn a nickel-dime businesses into a money machine.’  We’ll examine the best kept secret in property management and the number 1 principle you need to embrace to make property management profitable. We’ll differentiate between the transactional and operational sides of real estate and help students dismantle the broker (sales) mindset regarding charges and fees. We’ll also address common excuses brokers make when thinking about revenue streams in property management and identify 4 keys to generating revenue in property management.

Once we’ve laid this groundwork we’ll list 80 different revenue streams managers should consider charging in their management business. Students will learn how to generate revenue from residents, owners, and vendors without risking the relationship. We’ll address the contractual issues, policy issues, and challenge of implementation of new fees and charges after the relationship has already been established.

In the end we’ll address the ethical issues of how and when you disclose fees before and after you learn about them.

This class is all about making property management profitable.

This class can also be reduced to a breakout session (one hour more or less) for a real estate conference.

3 Hour Table of Contents

1. Best Kept Secret
2. Property Management is not Like Sales
3. Dismantling the Sales Mindset
4. Sales vs. Service
5. Service Business Terms
6. Transactional vs. Operational
7. 4 Keys for Cashing in on Property Management
8. Owner Sign Up & Marketing the Property Fees
9. Resident Sign Up Fees
10. Ongoing Management Fees to Residents and Owners
11. Excuses
12. Managing the Property Fees
13. Move-Out Fees
14. Ethical Issues
15. Disclosing

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1 Hour Conference Version: Cashing in on Property Management 302 (Advanced)

The conference version is not the same as the 3 hour class. It proposes specific language to add to management agreements (and leases) to ward off the threats of being sued in addition to strategies to buff efforts to drag you into a courtroom battle.

Conference Version Table of Contents

1. Not State Specific
2. Best Kept Secret
3. Property Management is not Like Sales
4. Dismantling the Sales Mindset
5. Sales vs. Service
6. Service Business Terms
7. 10 Keys for Cashing in on Property Management
8. Think Big
9. Ethical Issues
10. Disclosing