RCRE - Deep Dive: Property Management with Jennifer Outland

Dylan and Mike interview Jennifer Outland, the Regional Manager of Rand Property Management.  Key Information: Budgets should be consistently reviewed to create feedback loops with your property management company and your investing entity. Property Management first and foremost entails creating a positive resident experience Every month you should be reviewing budgets to compare actuals with the budgets and to see if there are areas that team members need further training on certain aspects of the business The biggest change in the last month for Rand Property Management is hiring Area Property Managers to help Community Managers with extra training and reporting When creating a positive resident experience treat each person like a guest (Ex: smile, move in baskets, giving residents undivided attention) Language dictates how you feel (Home instead of unit, Resident instead of  Tenant, etc). Net Promoter Score (NPS) asks: “On a scale of 1-10, would you refer your community to a friend to a colleague?” A good NPS score has feedback of 70%+ Consistently measure will result in improvements  Invest in the right People, Systems, and Culture to help your company to flourish Expert Pro Tip: Review your Gross Potential Rents in September so that you can receive market rates in January of the following month.     For more information/to connect with Rand CRE: www.randcre.com   To register to invest with us: https://invest.randpartnersllc.com/invexp/accounts/login/     Rand CRE's Facebook: https://www.facebook.com/randcre Rand CRE's Twitter: https://twitter.com/randcre Rand CRE's Linkedin: https://www.linkedin.com/company/randcre Rand CRE's Instagram: https://www.instagram.com/randcre We're here to help create real estate entrepreneurs...  About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. Connect with Jake & Gino here --> https://jakeandgino.com. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.