Episode 8 - Asset Management vs Property Management

Episode 8 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro (01:40) Asset management vs property management (PM) (07:09) How clients typically evaluate property managers (07:48) Institutional owners separate asset mgmt and PM (08:47) Sub-intuitional owners combine asset mgmt and PM (10:39) Owners expecting too much of property managers (14:14) Peter's effort to standardize property management (16:07) Going to a car mechanic (18:42) Buying shoes - the power of standardization (21:33) Why PM companies resist standardization (23:02) What are the advantages of standardizing PM? (27:14) GAAP for property management scope of service (28:37) Property Management Standards Working Group (31:24) What about a standard PMA? (32:56) Peter's new mission for RL Property Management (33:54) Property managers are not trusted by the public --- Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com