Bad PMs Look More Valuable Than Good Ones. Here's Why.

When is an owner going to fire you? An owner's going to fire you when they think the value you provide is less than the cost that you have. Fundamentally, that's when they're gonna fire you. And what's interesting is if you are a great property management company, you seem to make it look easy, which makes it look like the value you provide is lower. If you're a bad property management company, you're calling the owner all the time with this and that. They feel like you're like firefighting. They feel like you're very helpful. So they might think that you have higher value because of the fact that you're reaching out to them and doing all these things. One of the major things that I want the client success managers to do is to do just because calls. I want you to call all of the owners once a month and just say, hey, look, I'm not calling you for any reason to ask for money. I just wanna know how you're doing and to build a relationship. And that always becomes the last thing that they'll do. Oh, I got all this stuff. I'll do that later. I'll do that later. So they just keep kicking it down the curb. So managing the expectations of the owner And managing how they feel about you automatically makes them value you more, right? So that's where I think the relationship building just naturally is going to reduce churn because the fact that you're now just calling them because it also gives you goodwill so that when something bad happens, they're not just bombing and say, oh, again, again, again, it's all of that kind of building a relationship and navigating it. They feel like the value that they're providing is higher than the cost. Like that's fundamentally what we need to do as property management companies, provide more value than they feel that our cost is.