Steve: TOP Consulting June 2025

Steve <> TOP Consulting June 6,2025

Transcript

https://otter.ai/u/Z0rbGScW7AYGGYRxgqd-0tSwKWk?view=summary

Steve and TOP Consulting discussed the challenges of managing multiple properties, particularly during the busy season. Speaker 1 highlighted the difficulty of navigating backlogs and dealing with unexpected issues like $15,000 roofing quotes. Speaker 2 emphasized the importance of documentation and fine-tuning processes. They noted the impact of turnover on owners and tenants, and the need for efficient systems. Speaker 1 shared experiences with demanding tenants and the importance of clear communication. They also discussed the onboarding of new owners and the addition of a second handyman to handle make-readies, aiming to improve efficiency and reduce stress.

Action Items

[ ] @Stephanie Gallegos - Follow up with owner about unauthorized vendor visit at a property listed for rent. Emphasize the need to be looped in on any work at the property.
[ ] @Stephanie Gallegos - Continue training Alyssa on the application process and separating responsibilities between Alyssa and the field tech.
[ ] @Alysia Conway - Communicate with tenant about car damage and reiterate that the landlord will not be covering their deductible.

Outline

Challenges of property management with high turnover rates.

Unknown Speaker struggles with managing 100 properties, especially when some tenants give little information about their move-out dates.
The speaker finds it challenging to keep track of move-outs and move-ins, especially when there are no notes or documentation available.
The speaker notices that some tenants are more difficult to work with than others, and they try to prioritize their work based on the urgency and importance of each property.
The speaker believes that having good documentation and communication with tenants is crucial to preserving relationships and maximizing the chances of renewal.

Managing rental properties, including handling owner inquiries and avoiding confusion.

Unknown Speaker discusses challenges of managing multiple properties during busy season, including navigating through different accounts and avoiding a lack of communication with owners.
Speaker emphasizes importance of having a single point of contact for owners and using positive language to address their concerns.

Property management challenges and strategies.

Alyssa handles owner requests and issues, often dealing with difficult situations.
Alyssa has learned to set boundaries and communicate effectively with owners.
Alyssa has onboarded many new owners and managed complex make readies, demonstrating her ability to handle challenging situations and adapt to new situations.

Challenges in property management, including new roles and responsibilities.

Unknown Speaker struggles with timing of new tasks and roles during busy season.
Stephanie has been in property management for 3 years, with different challenges than in apartments.

Property management challenges and strategies.

Unknown Speaker: Tenants are giving up on selling, renting instead (12 words)
Alyssa: Streamlined renewal process, improved customer service (13 words)
Unknown Speaker: Main complaints are poor performance, lack of response from property managers (14 words)

Property management company's turnover rate and loss of clients.

The property manager has offboarded 5 properties due to owner frustration with the previous management company.
The manager has brought on 17 new properties, but 3 have decided not to move forward with the company due to issues with the make-ready process.

Landlords and tenants, with a focus on a damaged car and insurance.

Landlord anticipates tenant resistance to deductible payment for car damage.

Insurance and communication challenges with difficult tenants.

Unknown Speaker describes difficult communication with tenant, who is European and entitled.
Speaker struggles to manage tenant's emotions and accept answers without becoming combative.

Managing turnover in the rental business.

Unknown Speaker discusses communication with vendors and owners during turnover season, mentioning the importance of keeping mental health good to avoid burnout.
Unknown Speaker plans to train Alysia on how to do applications next week, adding another task to her list.

How to say "no" to tenants without offending them.

Unknown Speaker struggles with telling unqualified applicants "no" without offending them.

Reducing rental property applicant waste.

Unknown Speaker discusses frustration with tenant applications, particularly those with low credit scores or insufficient income.
Speaker discusses a specific owner with a rental property next door, listing it for rent after completing construction.

Property inspection and training for a new employee.

Owner's project manager schedules vendor without informing the team, causing confusion.

Dividing responsibilities between team members.

Unknown Speaker discusses challenges with dividing responsibilities between Alyssa and field tech.