What is the Best Structure for Your Property Management Company? Ft. Brad LarsenApril 26, 2021
One question we get asked a lot is how we suggest property management companies structure their organizations. We hear so much about “right person, right seat” but do we have the right seats, to begin with? In this episode, we will have a conversation with property management thought leader, Brad Larsen, about the different organizational structures we have used in our property management organizations. We will explore what problems we faced with each one, what structure we settled on, and why and what things to consider as you analyze your organization. You don’t want to miss this thought-provoking episode!
🔥 In this episode of Bootstrappers Show
01:28 Structure for your property management company
03:59 Property Management Mastermind Facebook Group
03:05 Property Management Conference
06:06 There is no one right way to structure a company. It depends on the market and the size of the company
07:50 Current Structure of RentWerx, San Antonio
10:40 Flight of talent at management levels
13:00 How to structure Compensations and Bonuses
15:00 How to start a back up remote team model
18:30 Inhouse maintenance or third-party maintenance vendors
18:50 How a remote team can improve your company finances and save up to 40% in personal
21:00 Why hiring a consultant entity to implement NARPM standards will save you time and assure compliance
24:18 How did Wistar Group started in property management and what they were willing to give up to grow to the next level
27:20 5 Mistakes that small property management companies do
28:00 The importance of not giving personal contact and design a system to react to any emergency
33:00 Property management company fundamental positions
35:00 Take 5 minutes a day to work at your company infrastructure and make sure to implement actions
16:00 Annual technology fee for all of the owners
38:00 Property Management Mastermind Conference May 19,20 and 21 info pmmcon.com
About our guest:
Brad Larsen is the owner and real estate broker for RentWerx, San Antonio – a full-service real estate brokerage focusing on Property Management for single-family homes. Additionally, Larsen is the host of the podcast “The Property Management Mastermind Show.” He also is the founder and host of the Property Management Mastermind Convention which you all should go to because it is awesome!
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📌About the show
Bootstrappers is a program designed to bring you up to the minute ideas and concepts to understand what it takes to succeed in business and life. We bring knowledge into the property management industry from different business industries to create a richer experience for our audience.
We invite the best authors, thinkers, and business people to the show and we pick their brains in their areas of expertise. We interview our guests and gain key insights that can help our audience in their own path to success.
You will find here, ideas, knowledge, best practices in a relaxed and fun conversation. No pretense. Our guests get real and share successes as well as failures. If you are looking for an unvarnished look at entrepreneurship and business development this is the show for you.