Time, Productivity & Profit

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There is a paradigm shift in the way businesses communicate with prospects and clients. The challenge is adapting to the change and the more rapid the shift the more dire the consequence of not adapting.

This presentation suggests the first and most critical step is adapting how we think and make decisions, changing the culture of an organization.

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  • The modern renter wants and expects to communicate online. + They use the Internet to search for their next home - from Craigslist to your website they will find, research and ultimately apply for the home online. + Once a resident, the preference is to pay rent online, submit maintenance requests and communicate online. Making it easy to communicate and stay connected is directly tied to your resident retention and occupancy rates.Residents aren’t the only ones who have higher expectations.
  • Owners and Investors expect more too. They want….To receive payments online -- the money gets there faster and you save valuable time as well. Online access to property information, reports and statements so they stay connected to their investments.Unique branding for properties with even better marketing that stands out from the crowd.They want insurance that protects their investments from accidental damage.They also want you to find the highest quality residents and fill vacancies fastBased on what I have learned about your company so far this will be important to your business along with (BUSINESS GOAL)
  • And your challenge is to meet the changing needs of owners and residents while you stay ahead of the competition, grow your business and become more profitable….all in less time every day!And this is exactly why we created AppFolio Property Manager.
  • Time, Productivity & Profit

    1. 1. Time, Productivity & Profit
    2. 2. Positive Trend This may be the defining year for catapulting your business to a higher level of productivity and financial rewards. 1. There are more individuals and families seeking rental homes and apartments then there were three years ago, and… 2. The federal government and many state governments are giving incentives to investors to buy foreclosed and bank-owned properties for the purpose of turning them into residential rental properties. The positive trend for residential rental income properties has accelerated into the beginning of 2013.
    3. 3. Is this really a big deal?“ Enterprises that do not adapt are in for a lot of trouble. The problem is change: The more rapid the pace of change, the more dire the consequences of stubbornly sticking to old ways. - Ivey Business Journal Hours per 100 units “
    4. 4. These companies think differently Case Study #1: My residents have never been comfortable paying online. For the few that want to pay online, it is a convenience so we charge a fee. Wall Street Journal - 70% of Americans who accessed the internet in Q2, 2012 made an online purchase Buysight (internet research company) - 88% of Americans made a purchase online in the past 12 months 80% of shoppers are between age 33-44
    5. 5. These companies think differently Case Study #2: When residents pay online it makes my life easier and I make sure it’s more convenient for them too. Happier residents & less time punching keys makes me more profitable. 90% pay online. Ignore the Past & Incentivize Behavior • Every resident is signed into their online account at lease signing • Quarterly giveaway drawing, everyone who paid online eligible • Handling fee of $2.50 is for paper checks or money orders • Office terminal for residents without internet / computers • Every prospective investor knows my stats and how it helps them
    6. 6. Incentivizing the best behavior Marketing • Build valuable connections with the community (more on this later) • Advertise “5 minute pre-approval” with online application • Tout everything you do differently to make constituents life’s better Prospects • Eliminate available paper apps & setup office terminal • Require Leasing Agents to enter new resident data • $5 processing fee in addition to application fee for paper app Payables • Top 5 vendors required to email statements, not mail or deliver • Top 5 vendors paid electronically, charged if they want a check • Owners receive electronic statements and payments • $5.00 fee added for paper
    7. 7. Time #1 Adapt and spend less time Ignore the Past & Incentivize Behavior #2 Productivity… #3 Profit…
    8. 8. Definition of “Productivity” productivity: the quality of being productive or having the power to produce productivity: having the power and time to focus on quality and production productivity: focus on the quality of customer relationships, leading to a powerful reputation and an increase in production
    9. 9. You don’t need to learn Social Media… You must understand why it is important! productivity: focus on the quality of customer relationships, leading to a powerful reputation and an increase in production
    10. 10. There has been a shift… back 1950’s 1990’s Now
    11. 11. Being apart of the conversation… … is as important as having a website. 40% of consumers switched to a competitor because of it’s reputation for great customer service. Nielsen study results: Almost 70% of people turn to family and friends for advice on purchasing decisions. As long as you stay on message, and remain honest, polite, and as accommodating as possible, you’ll have nothing to fear from someone with a grudge.
    12. 12. You must understand why it is important! Society is creating an ecosystem that rewards good manners, high touch, honesty, and integrity.
    13. 13. Time, Productivity #1 Adapt and spend less time Ignore the Past & Incentivize Behavior #2 Focus on developing a culture that cares Society is creating an ecosystem that rewards good manners, high touch, honesty, and integrity. #3 Profit…
    14. 14. Story of 2 PM’s - 1st company Property Management Co. The investor hears the management company name from a real estate agent and searches for the website. Here is what they find on the website: • PM Co. in Real Estate for 30+ years • “Best management in the area” • “We will get the most out of your investment” • Coordinate the completion of necessary maintenance and repairs • Collect rent, serve late notices, and prepare reports
    15. 15. Story of 2 PM’s – 2nd company Management Company, LLC When searching on Google, the investor happens upon the Company name in three places.
    16. 16. Story of 2 PM’s – 2nd company Management Company, LLC When searching on Google, the investor happens upon the Company name in three places.
    17. 17. Story of 2 PM’s – 2nd company Management Company, LLC So, the investor searches for the companies website Here is what they find on the website:We know happy residents take better care of your investment and renewmore often. Here is how we make our residents happy:• Convenient property showings and approval process o We can check rental history, credit, eviction & background in 5min!• Free, easy, online rent payments o You get paid faster• Online maintenance requests for constant customer service o Click Here to see how happy our residents are
    18. 18. Profit Re-organize your priorities In 2013 everyone is a neighbor and you can’t be in all the PTA meetings. Change your focus to anything that helps you save time and do the unexpected… care. Profit will follow.
    19. 19. Time, Productivity & Profit #1 Adapt and spend less time Ignore the Past & Incentivize Behavior #2 Focus on developing a culture that cares Society is creating an ecosystem that rewards good manners, high touch, honesty, and integrity. #3 Re-organize your priorities In 2013 everyone is a neighbor and you can’t be in all the PTA meetings. Change your focus to anything that helps you save time and do the unexpected… care. Profit will follow.

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