TenantCloud: Property Management Podcast

Welcome to the TenantCloud Property Management Podcast, where we dive deep into property management and share valuable insights to help you optimize your rental business.

In this episode, we explore the crucial role of transparency in rental advertisements and how it can significantly impact your success in finding qualified tenants quickly.

Join us as we discuss the importance of clear and precise rental listings to attract the right renters and avoid wasting time with unqualified inquiries. Learn how transparent advertisements set the stage for smoother tenant selection, saving you valuable time and effort.

During the episode, we provide actionable tips and practical strategies to make your rental listings more transparent. We delve into topics such as clearly stating pet policies, including required pet deposits and highlighting smoking restrictions. We'll also emphasize the significance of setting financial requirements and saying lease terms and conditions upfront.

Tune in to this episode, "Create Transparent Rental Listings," to discover how embracing transparency can attract qualified leads, streamline tenant selection, and maximize your rental business's success.

In this podcast, we explore the art of efficient tenant acquisition, focusing on a key factor that can make or break your success: getting the price right.

Join us as we discuss the strategies, insights, and proven techniques that landlords and property owners need to attract quality tenants.

Whether you're a seasoned real estate pro or just dipping your toes into property management, our series on How To Find a Tenant Quickly is the ultimate guide for ensuring a quick and seamless tenant search experience.

As a property manager or landlord, it's essential to streamline the rental application process and avoid roadblocks to attract quality tenants efficiently. In this podcast, we will cover some of the tips and ideas to help you avoid rental application roadblocks. By implementing these strategies discussed in this podcast, you can minimize roadblocks in the rental application process, attract suitable tenants, and fill vacancies more efficiently, thereby reducing your overall vacancy rate.

With a prospective tenant waitlist, you can streamline the leasing process because you already have a pool of potential tenants - some of which may even be pre-screened. This saves time and effort typically spent on advertising, screening applications, and conducting extensive showings, making the leasing process more efficient.

Tune in to episode 5 of our podcast series, "How to Find a Tenant Quickly" as we discuss some of the ways to create a waitlist, how to manage it, and when it might come in handy.

If you're a landlord looking to fill a rental property quickly, being flexible with your touring hours can help you find the right tenants faster. Many potential tenants have full-time jobs and can’t always make it to a scheduled tour, so offering a more open availability can increase the number of people who can tour your property and make it easier to find the perfect tenant. Being flexible with your touring hours can save you time and money, as well as give you the opportunity to meet more potential renters who may be interested in your property. With a few simple tips, you can learn how to make the most of your touring hours and find the perfect tenant for your rental property.

Are you struggling to keep your rental property filled?

Are you attracting a lot of unqualified applicants?

If this feels like you—you aren’t alone. Many real estate agents and landlords struggle with filling their properties simply because they aren't diversifying the number of ways that they get new tenant leads.

Let’s face it: we live in a digital world where everybody and anybody has an influence on someone else. Social media has allowed the average individual to have a greater reach and influence over the decisions that their friends, family, and acquaintances make - even when it comes to housing and rentals.

Incentivizing the people that you already have a landlord/tenant relationship with (to market your rental property for you) can go a long way toward earning you high-quality referrals to your rental property.

Whether you’re new to being a landlord or have been at it for some time, here are some tips on creating a highly effective referral program with great incentives that will boost your overall number of tenant referrals and attract the best tenant(s) to your rental property.

Are you struggling to keep your rental property filled? 

Are you attracting a lot of unqualified applicants?

New tenants don’t seem to be impressed with your current listing, and they leave without giving you a second glance. If this feels like you—you aren’t alone. Many real estate agents and landlords struggle with filling their properties simply because their listing is subpar.

Let’s face it: we live in a digital world where everything from the virtual shopping mall to online dating has become the norm. As such, people have grown accustomed to a certain standard of quality when it comes to technology and images, so when that standard isn’t met by your property listing, potential tenants may shy away from renting from you.

And you might not even realize it.

A great listing can lead to more traffic and better applicants. If your current listing doesn’t get the results you want, take action now. Whether you’re new to being a landlord or have been at it for some time, here are some tips on how to create a high quality rental listing that will boost your business and attract the right type of tenant.

Having a productive and motivated team is an important key to success in any business, and especially in real estate. Surveys and studies have shown that employees stick around 4.5x longer than they would otherwise when companies do simple things such as "communicate effectively" (source: bit.ai). In addition, 37% of employees report that "working with a great team" was their primary reason for staying with any given company (source: Gusto). 

At a time when companies are struggling to hire and retain talent, it's worth taking a look back at some of the simple, time-tested principles of team leadership and how to build a solid foundation for creating a successful real estate business.

In this podcast, we discuss 6 time-tested team leadership tips to increase your team's productivity by 50% and retain top talent amongst your ranks in the process.

To learn more about TenantCloud's team management tools, email us at sales@tenantcloud.com.

Owning rental properties can be a lucrative business - if you know what you're doing. One of the most stressful aspects of this type of investment is setting the right price for your property. If it's too high, people won't rent it. If it's too low, you could be leaving money on the table. To avoid these costly mistakes, here are some proven methods that seasoned real estate professionals follow when pricing rental properties.

When you think of rental turnover costs, you probably think of tenant damages and expensive repairs. In reality, most turnover costs are associated with typical wear and tear which landlords spend a significant amount of money and time addressing before moving a new tenant in. This downtime affects your rentals bottom line, and negatively impacts your rental cash flow.

In today's episode, we cover how you can make your rental more durable so that you can protect against accidental damages, as well as normal wear and tear. As a result, you can have less downtime between tenants, and improved cash flow for your rental properties.

You have probably used these apps yourself to send money to friends or family members. But you may also be letting your tenants send you rental income as well, without realizing the risks lurking just around the corner. In today's episode, we're going to cover some of the most popular payment apps that people use today and the potential risks that are present if you are using them for online rent collection or any other type of property management transaction. 

A first impression is a powerful thing. It can make or break any business and since tenant retention is a major part of the game when you own a rental property, so are first impressions with your new tenants. Whether it's tenant welcome gift idea's, or simply making the move-in day a pleasant experience, here are five proven methods that you can use to make a good first impression on your tenants right of the gate. 

If you have ever wondered what an illegal eviction is, how it happens, and what consequences may be involved, you're in luck! In today's podcast, we cover a few examples of what illegal evictions might look like, as well as some examples of the consequences that can take place for those who attempt to carry one out.

It's no secret that the rental economy has its ups and its downs. All that really matters is whether or not you are able to weather the storms when they come. In this podcast, we discuss five unique ways to find good tenants even in a bad economy. At the end of the day, the goal is to find the best-qualified tenants and retain paying tenants for as long as possible. The better you are at attaining that goal, the healthier your rental portfolio will be in the long run.

As a landlord, managing rentals is hard enough. But then you throw maintenance and renovations into the mix, and things get a lot more complicated, especially when it comes to finding quality contractors.

How can you make sure you have found a reliable contractor who follows through and gets the job done right the first time? And more importantly, how do you make sure that once you've found that perfect contractor, you can keep them around well into the future?

In this podcast we'll address both of those concerns, and more!

Efficiency is a time-saver that unlocks time in your daily routine to do the things you want to do, not just the things you need to do. As a landlord, being proactive in how you handle your rental properties is one of the keys to becoming a master of efficiency. 

Here are four proactive ways that you can start to save time and manage your rentals more efficiently.

In today's podcast, I sat down with Matt Easton, to talk about How Smaller Operators can Leapfrog the Largest Portfolios in Occupancy, Top-line Revenue, and Cashflow Per Unit.

Matt Easton is the Founder of Leasing University. Leasing University is the #1 Apartment Leasing Training in the World. Leasing University’s On-Demand Platform and Live Events have simplified how the industry leases apartments. Matt’s mission in life is to help give property management professionals more confidence and the skills they need to sign more leases. Matt Easton has personally helped hundreds of apartment communities and individual owners do billions in additional revenue.

There are a lot of things that you must remember to do when managing a rental. As a landlord, you are often responsible for far more than you may think when it comes to your resident's safety and well-being.

In today's podcast, we'll cover the often misunderstood topic of whether or not you are responsible for the safety of your tenants, and if so, how.

Retaining existing tenants has never been more important than it is right now in 2020. Tenant turnover costs can easily exceed $500 every time a tenant moves out, which is why it's so important to retain existing tenants in your rental property, especially in a rental market where vacancy rates have been consistently on the rise.

We've touched on this subject a few times but in today's podcast, we are going to focus on some actionable items that you can do today to increase your rental income and help ensure that your tenants stick around.

There’s a myth that it would cost hundreds (if not thousands) of dollars for a landlord to upgrade their rental properties. But the truth is, not all high-quality rental renovations are that expensive. Most DIY home renovation projects can be done with minimum financial resources. 

In today's podcast, we'll cover a few ways that you can increase the overall appeal of your rental through simple, budget-friendly upgrades that won't break your bank. We all want lower vacancy rates and a higher rental asking prices, and once you update your rental, there's not much else standing in your way.

Since 75% of landlords are over the age of 45 and at least 50% of leases are signed by people under the age of 30. It's easy to see how there may be a wide range of concerns and differences when it comes to which rental payment options are made available to tenants.

In today's podcast, we'll discuss the payment method that tenants are demanding that landlords provide, and how you could be losing potential tenants by not offering it.

As a landlord, every day introduces new experiences and new challenges that we have never encountered before. There are incredibly difficult decisions that often have to be made, and sometimes we're just not quite sure what to do.

In today's podcast, we'll explore a serious issue with a tenant living in your rental that has never applied to live at your property, or was approved using someone else's identity. It is an issue that landlords encounter much more often than you may think, and one day, you may have to deal with it yourself. I'll discuss a few of the scenarios which may play out, including ones that I have personally had to deal with.

Having a tenant move out is rarely a fun or good occurrence, but being a landlord isn't all about fun and games. Tenant's move out and there are expenses involved for both landlords and tenants. The tenant has moving costs and the landlord has make-ready costs.

In this podcast, we'll discuss how many days it should take you to complete make-ready, how to plan ahead, and what it takes to be extremely efficient so that you do not lose rental revenue on an empty unit. Listen in to learn how to complete a make-ready in 3 days or less.

To get the information you need to maximize your leasing performance, you need to make sure you’re keeping an eye on the right metrics. It's much more than just calculating your current occupancy rates. We've compiled three other extremely important leasing performance metrics you should be keeping an eye on as part of your leasing process to help you lease faster, more consistently, and to help you gain better control of your vacancy rates months in advance.

One mistake as a landlord can cost you thousands of dollars and give you nightmares that rob you of your sleep for quite some time.

So how do you reduce that level of risk?

In today's podcast, we'll cover the proven marketing process you need to prevent landlord nightmares so that you can sleep well at night knowing that you've done everything you can to reduce your level of risk, protect your investment from financial loss and provide a rental property for the best-qualified tenants.

Property management requires no less effort than any other profitable business. While it might seem like purchasing the actual investment property is the number one step towards all the investment benefits you’ve heard so much about, there is still a range of factors that will decide if you’ll reap the financial rewards.

The key to reducing vacancy rates and minimizing tenant turnover in the coming years is to effectively advertise your vacant units.

To do that and to do it well, you should master the best marketing techniques out there. Here are a few of the most efficient marketing approaches landlords and property owners can take advantage of.

Before 2020 began, some research had been completed on fraud in the rental industry. And the numbers were shocking. In a report titled, "The state of fraud in the rental housing industry" by TransUnion, they found that 80% of all property managers had been the victims of renter fraud.

And now that the job economy has taken a hit as a direct result of Covid-19, the amount of renter fraud is projected to have increased exponentially.

In today's podcast, we will explore the top 3 methods that fraudsters use in an attempt to get into your rental, and some ideas on how you can stop it before it costs you thousands of dollars in damages.

What a lot of landlords and property managers once felt was impossible has now become mandatory and we have all been forced to modify our thought process of how rental management can (or needs to) work. And it's not just for the immediate future -- Many of the changes made in the real estate industry over the past few months will likely be here to stay.

In today's podcast, we'll explore how Covid-19 has changed the real estate industry, which changes were the most significant, what is here to stay for good and why that is a good thing.

With the dramatic economic and cultural shifts that have taken place over the past couple of months, the rental market will likely become much cooler in areas where that has not been the case in over a decade. As a landlord who has never encountered such a dramatic shift in the rental market, it is important to learn new skill sets to help be prepared for that shift and master the skills needed to rent out your rental properties quickly and efficiently.

In today's podcast, we'll explore what is known as the four impulse factors that you can implement today to compete in a cooler rental market which in turn will increase your occupancy and reduce vacancy.

The events of the past several months have changed the workplace into the foreseeable future. Since the early part of 2020, the majority of those who can, have been working from home, while sheltering in place.

This abrupt change in the workplace has resulted in significant shifts that may have a lasting impact on workspace design and use, while simultaneously changing the demand and use of commercial space for years to come.

How do these changes affect your real estate business and what does it mean for the everyday landlord? Tune in and let's discuss!

With every strategy for wealth building or growth comes risk. And real estate? It's is no different.

So whether you are just starting out, or you have been involved in buying or renting out real estate for quite some time, or you're on the property management side considering getting into buying rental real estate yourself, here are five things that you can do to overcome the pitfalls and challenges of owning and managing rental properties.

Based on a report from approximately 11.5 million rental units in the United States, 89% of tenants paid either partial or full payments towards their rent in the month of April of this year.

However, with over 17 million unemployment claims over the past month or so, the question of whether or not May's rent goes unpaid is still looming large and landlords across the country are asking questions about what options they may have at their disposal.

In this podcast, we'll cover a quick question and answer session that the National Landlord Association had with a Utah based lawyer who specializes in landlord law, fair housing and property management, to get his take on some of the most popular questions landlords have right now and hopefully provide you with some answers to your most pressing questions.

Renting out properties while living abroad is similar to having a long-distance relationship. It takes a lot of effort and requires creativity to make it work. But with a thorough strategy and a good property management system, you can easily manage your rentals remotely.

We asked a few "remote" landlords to share their secrets for running a property management business from overseas. Taking into account their advice and experiences, we've singled out their top 4 pieces tips and shared them with you in this podcast.

During the times when you can hardly find good news, life-affirming stories about noble gestures, philanthropy, and simple acts of kindness bring positive energy and restore our faith in humanity (in case you’re about to lose it).

In this podcast, we share 5 news stories related to real estate that will make you believe in the power of togetherness.

We all know that life is unpredictable, but let's be honest. Right now, life is simply crazy. Very few people alive today have ever lived through a pandemic, and some of us are having to make decisions that we never dreamed we would have to make.

In this podcast, we'll discuss the five key things that you can do to continue "business as usual" (or, at least as close as possible to it), as well as some ideas around "what to do next" to prepare for the unknown future that may be waiting around the corner.

In this podcast, I interview Patrick Dudek with Valet Storage. And while storage may not sound like an exciting topic to discuss on a podcast, you will definitely want to tune in as we discuss how a product like Valet Storage can add value to your rentals and increase your revenue on a per rental unit basis all while requiring little to no effort or investment on your part.

TenantCloud is not connected with Valet Storage and this is not a paid interview or advertisement. Our goal is to simply continue to provide incredibly valuable information to our listeners and help you to continue to grow your rental business in the most efficient way possible. The information in this podcast may help you do just that.

Whenever you surf the Internet or read an email, you should always take caution of where you are “virtually.” There are bad neighborhoods in every city and those same places exist online. It is becoming harder for online criminals, so now they create areas hoping you come to them.

In 2020 and beyond the internet will only become increasingly integrated in our lives in more ways than we may even realize as of today.

In today's podcast, we'll cover the Top 10 ways to help protect your landlord business online with advice straight from the experts on internet security.

Are you looking for a tool that adds value to your rental business this year? Something that has the power to turn prospects into tenants and monitor your leads in one place? If not, you should be. Tracking leads through an effective CRM (Customer Relationship Management) tool is essential to the success of any business, including your rental business. In this podcast, we'll review six practical reasons why you need to use a CRM for your rental business.