RCRE - Deep Dive: Property Management with Jennifer Outland

Jake and Gino Multifamily Investing Entrepreneurs

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5 • 831 Ratings

🗓️ 15 January 2020

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dylan and Mike interview Jennifer Outland, the Regional Manager of Rand Property Management. Key Information: Budgets should be consistently reviewed to create feedback loops with your property management company and your investing entity. Property Management first and foremost entails creating a positive resident experience Every month you should be reviewing budgets to compare actuals with the budgets and to see if there are areas that team members need further training on certain aspects of the business The biggest change in the last month for Rand Property Management is hiring Area Property Managers to help Community Managers with extra training and reporting When creating a positive resident experience treat each person like a guest (Ex: smile, move in baskets, giving residents undivided attention) Language dictates how you feel (Home instead of unit, Resident instead of Tenant, etc). Net Promoter Score (NPS) asks: “On a scale of 1-10, would you refer your community to a friend to a colleague?” A good NPS score has feedback of 70%+ Consistently measure will result in improvements Invest in the right People, Systems, and Culture to help your company to flourish Expert Pro Tip: Review your Gross Potential Rents in September so that you can receive market rates in January of the following month. For more information/to connect with Rand CRE: www.randcre.com To register to invest with us: https://invest.randpartnersllc.com/invexp/accounts/login/ Rand CRE's Facebook: https://www.facebook.com/randcre Rand CRE's Twitter: https://twitter.com/randcre Rand CRE's Linkedin: https://www.linkedin.com/company/randcre Rand CRE's Instagram: https://www.instagram.com/randcre

Transcript

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0:00.0	Welcome to the RAND CRA show, commercial real estate with no stone left unturned.
0:09.8	What's up, everyone? This is Dylan Marma here with the RAND commercial real estate show,
0:15.3	joined by our co-host, Mike Taravella. How's it going today, Mike?
0:18.3	You know, just living the dream, making it happen, Dylan,'m excited to have one of our team members on the show today.
0:24.3	Very, very excited about that.
0:25.8	Before we get things going, I always need to give a quick reminder here that the RAND Commercial Real Estate show is hosted by RAN commercial real estate,
0:32.4	a vertically integrated investment advisory firm where it's really our main focus is to provide investors
0:38.7	with great passive income opportunities to invest alongside our team that's vertically integrated
0:44.0	and also to provide investors with advisory services when it comes to the debt and equity side
0:49.1	of things. So if you do have any needs in terms of passively investing or if you would like to work with our team
0:55.0	in terms of getting your next deal of finance, you can always reach us at randcore.com.
1:00.4	But without further ado here, I want to welcome on today's guest.
1:03.3	We are joined by our regional manager with RAND property management, Jen Outland.
1:10.0	How's it going today, Jen?
1:10.7	Doing great.
1:11.6	Thanks for having me on the show. We're excited to have me on the show. And, you know,
1:15.7	you've done so much in the last five years, I feel like coming on to probably six years.
1:19.7	Almost five years, okay. So it's coming up to five years now. You've done so much seeing
1:25.2	this from really the ground floor with the property
1:28.5	management from when back in the day when Jake was still knocking on doors you and him really
1:34.7	you know spearhead this it's like you and him have really been partnering and growing this business
1:40.1	and it's been quite a quite a ride so we're excited to learn what we're seeing
	...

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