184: Stop Unit Churn By Selling To Other Owners - Meet Blanket

Welcome Closers!In this episode of Profitable Property Management, Jordan talks to Lior Abramovitch from Blanket Homes about their new technology to help property managers combat churn and retain properties in their portfolios.Topics and GuestsGuest: Lior Abramovitch, founder of Blanket HomesTopics discussed:The problem of churn in property management and losing revenue from properties leaving the portfolioWhy property managers often don't capture sales even though they have broker licensesHow Blanket's platform enables internal sales within a property manager's portfolio to retain propertiesKey features of Blanket's platform: marketplace, investor dashboard, data integrationsBenefits to property managers including increased revenue, visibility into portfolio performance, automated communications to ownersOperational details on how Blanket's brokerage services work with or without the property manager's involvementMacroeconomic trends in real estate and opportunities for property managersLior's background in real estate investing and technologyLinks and Resources:Blanket Homes website - https://www.blankethomes.comThe Profitable Property Management Podcast - www.profitablepropertymanagement.comKey Moments:Many property managers experience churn rates of 30-35% annually, representing huge revenue loss (2:35)Biggest driver of churn is owners selling properties, but most property managers don't capture those sales (3:17)Blanket's platform enables internal sales so properties stay in the PM's portfolio (7:02)Main benefit to PMs is retaining properties to grow their portfolio and revenue (14:21)Blanket handles communications to owners like emails about sales opportunities (12:51)PMs can choose their level of involvement: Blanket can represent transactions or PM can be the broker (15:15)Now is a challenging but opportunistic time for real estate investors and property managers (27:23)