Peter Lohmann says 41-51% of property owners will pay extra for services like asset management, quarterly inspections, and rent protection. As legislation bans resident benefit packages, he argues the industry should pivot to selling owner benefit packages instead.
there are a bunch of services that property owners are willing to pay extra for. They're willing to pay more than the base management fee for things like asset management, quarterly property inspections, tenant damage protection, all-in-one financial services, instant rent payments, lost rent protection, and professional photos. Everything I just listed, those 7 services, they were all between 41% and 51% of property owners would be willing to pay extra for those things. And so, you know, there's been a lot of discussion in the industry over the last 5 years about resident benefit packages, RBP, and fee maxing, and should we be charging this fee or that fee to tenants? And now the various versions of that are becoming disallowed by legislatures in certain jurisdictions. Mm-hmm. So owner benefit packages, how do we put these together? How do we price them? And I want to, I want to get a whole motion going in our industry of upselling to our owners.
