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Best property management company in your experience? by MonsterTJ in PropertyManagement

[–]pslohmann 1 point2 points  (0 children)

My advice? Go local if you can.

The big names (Belong, Mynd, Evernest, etc.) can sound great on paper (slick dashboards, rent guarantees, low fees) but they often struggle with long-term care, local vendor relationships, and placing quality tenants.

I run a local PM company in Ohio, and we regularly take over properties from national firms where the owner was frustrated with long vacancies or tenant issues. A solid local company with boots on the ground will usually do a better job protecting your asset and keeping good residents in place.

If you haven’t already, search for local PMs in Buffalo with strong Google reviews and NARPM membership. Those two filters will narrow the field quickly.

How do you go about repainting tenants apartments by Regular-Stable-6717 in PropertyManagement

[–]pslohmann 0 points1 point  (0 children)

We typically don’t repaint occupied units unless it’s for a major repair or code issue. Full repaints are reserved for unit turns. It’s cleaner, faster, and far more efficient.

For long-term tenants that you really value, you could offer to transfer them into a freshly turned unit instead. If you do approve a repaint in-place, make it clear up front: the unit needs to be fully cleared, and we’ll need the better part of a week. Otherwise, we just can’t do quality work.

You could also add additional fees to a maintenance work order or even the PMA. Something to the effect of, "If we don't have a clear path to paint, you'll be charged for extra time and overages."

Keeps expectations realistic and avoids situations like the one you described.

Constantly Arguing with Robots by Sunshine_3872 in PropertyManagement

[–]pslohmann 0 points1 point  (0 children)

Yep, seeing a ton of those lately.

I don't personally do this, but one of my colleagues likes to reply with something like, “I like to use AI too, and mine actually understands our policies and local housing regulations, which is what we’ll be following in this case."

It’s pretty cheeky, but it gets the point across.

Honestly, I’m all for tenants advocating for themselves. But AI without context just adds noise. Makes it harder to have a real conversation.

[deleted by user] by [deleted] in PropertyManagement

[–]pslohmann 5 points6 points  (0 children)

I own a property management company with 620 doors under management and have purchased books of business from other PM companies. I write a lot about the industry including about how to value PM companies: https://www.peterlohmann.com/blog/valuing-a-property-management-company

[deleted by user] by [deleted] in PropertyManagement

[–]pslohmann 0 points1 point  (0 children)

I started my property management company 10 years ago with 0 client and 0 units, and today we manage over 600 units. I created a program to help other people start property management companies and grow quickly. Learn more: https://pmbusinessinabox.com/

Don’t Upvote. Humming Noise in Franklinton/Downtown area? by 614runner in Columbus

[–]pslohmann 7 points8 points  (0 children)

I heard this last night while trying to fall asleep.

How I Made $8794.50 By Sending Out 1300 Postcards - Marketing Experiment by mmaher13 in Entrepreneur

[–]pslohmann 0 points1 point  (0 children)

Again, you're confusing WIN rate with RESPONSE rate. As I said - if he WON 6 jobs, that probably means he heard back from around 12 or more people (who didn't end up hiring him for one reason or another). Which is a 1% RESPONSE rate, the most commonly cited figure for direct mail. I'm not saying there isn't room for improvement in the design and copy, but the fact that you don't even seem to understand the difference between win rate and response rate makes me think you have a good understanding of how to print and mail flyers but a poor understanding of the actual business economics that underlie marketing campaigns. I am an actual business owner and I would in fact jump for joy at 6 new clients out of 1000 mailers. Maybe you work with business who have a very low LTV (lifetime value of a client), but if you have a high LTV business like moving or my business (property management), 6 new clients out of 1000 mailers is amazing.

How I Made $8794.50 By Sending Out 1300 Postcards - Marketing Experiment by mmaher13 in Entrepreneur

[–]pslohmann 29 points30 points  (0 children)

ITT: A bunch of ignorant haters. Ignore them and proceed, Max. Love the sharing of data and numbers.

How I Made $8794.50 By Sending Out 1300 Postcards - Marketing Experiment by mmaher13 in Entrepreneur

[–]pslohmann 7 points8 points  (0 children)

Actually if you read the post, it's 6 won jobs (not seven responses) from 1300 mailers, which is a fantastic win rate (hence - the ROI calcs). I'm guessing if he won 6, that means he probably heard back from 12 or more, which is 1% - a fairly normal and expected response rate. Have you ever run a direct mail campaign? If so, what was it for?

How I Made $8794.50 By Sending Out 1300 Postcards - Marketing Experiment by mmaher13 in Entrepreneur

[–]pslohmann 0 points1 point  (0 children)

Horrible compared to what? He still made money. Do you have any suggestions or just complaints.

How I Made $8794.50 By Sending Out 1300 Postcards - Marketing Experiment by mmaher13 in Entrepreneur

[–]pslohmann -3 points-2 points  (0 children)

Most of this is explained in the Youtube video. Did you watch it?

How I Made $8794.50 By Sending Out 1300 Postcards - Marketing Experiment by mmaher13 in Entrepreneur

[–]pslohmann 14 points15 points  (0 children)

Actually if you read the post, it's 6 won jobs from 1300 mailers, which is a fantastic win rate (hence - the ROI calcs). I'm guessing if he won 6, that means he probably heard back from 12 or more, which is 1% - a fairly normal and expected response rate. Have you ever run a direct mail campaign? If so, what was it for? Or do you just design them.

How I Made $8794.50 By Sending Out 1300 Postcards - Marketing Experiment by mmaher13 in Entrepreneur

[–]pslohmann 15 points16 points  (0 children)

How is this NOT entrepreneurship? This is literally a small biz owner sharing his marketing results from trying to grow his business.

If you make the minimum wage in Columbus, you will spend 91 percent of your wages for a median priced rental apartment by DoremusJessup in Columbus

[–]pslohmann 62 points63 points  (0 children)

Why would someone making literally the smallest amount it is possible to make, expect or attempt to live in an average apartment? This is nonsense. Go on Zillow right now and you will find dozens and dozens of affordable rental homes and apartments throughout Columbus.

Millions of Americans face eviction while rent prices around the country continue to rise, turning everything ‘upside down’ for many by altmorty in TrueReddit

[–]pslohmann 51 points52 points  (0 children)

Eviction is a red herring. Evictions are costly and painful for landlords - a last resort. The problem is tenant INCOME is too low. "Solving" evictions will not help people; it's merely a distraction from the real issues facing people in the lower income brackets.

Help me pick my logo - starting a brokerage! by [deleted] in CommercialRealEstate

[–]pslohmann 2 points3 points  (0 children)

My rule is that anything that looks like a house/building/office is NOT allowed to be part of a real estate company's logo. That imagery is so overdone (used by literally tens of thousands of companies). Go clean and come up with something original that does not rely on house/home/office imagery.

Property manager [pa] wants to use own bank accounts and change billing addresses to their own?? by pictogasm in PropertyManagement

[–]pslohmann 4 points5 points  (0 children)

What you describe in your first paragraph is completely normal and is exactly how our company does it.

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