promptly to maintenance requests, having great vendors and budgeting for repairs, rehab, and capital expenditures. regularly. Go over the importance of an annual property inspection, as well as the inspection itself. PROBE
show the attendees the importance of doing the right rehab between tenants.
max. Be sure you begin and end on time. I hold mine every 90 days. WHAT? I charge $59. It has more value if you charge something. Spouses and family members are free, and of course, existing clients are free. I offer a light brunch, a handout to be filled in throughout the seminar, and a feedback form. PROMOTING THE SEMINAR Incorporate your seminar into your direct mailings to absentee owners. (My response rate is about half of one percent, i.e. 5,000 postcards mailed = 25 seminar attendees). I also send multiple emails to all past prospects as well as all my exist- ing clients. Have landlords RSVP to you through phone or text. Simply confirm their reservation with a text. Resist making any kind of sales pitch. You want them to come to your seminar with anticipation, not trepidation. Follow these steps to putting on a dynamic landlord seminar and watch your portfolio grow as you establish yourself as the expert property man- ager in your area. •
2. PROMOTE the property well. Show how to create an effective ad, what to say, what not to say, how to take dynamic photos, and which real estate websites to post their ad to.
9.
10. PROTECT yourself. In this step, cover the basics of landlord insurance as well as an umbrella policy. Also cover tenant insurance and the pros and cons of putting their rental(s) in an LLC.
the rental strategically.
3.
PRICE
In this step, show attendees where they can get a rental analysis (from me at no charge of course) as well as how to adjust their price based on their home’s amenities or lack thereof, the season of the year, and days on the market. negotiable. In this fourth step, cover all the pros of leasing “small pet negotiable.” PET PICKY (screen, screen, screen). Cover the importance of screening every applicant for credit score, income, rental history, etc. and address fair housing guidelines. PUT it all in writing. Cover all the crucial elements of a great lease as well as the required addendums.
is not a dirty word.
11.
PROFIT
Review all possible tax deductions for a landlord, when to consider selling, as well as the basics of a 1031 exchange.
4.
12. PROPERTY Management. This final step is to demonstrate how professional property management doesn’t just save a landlord money; it makes them money. This is where you make your real push to get owners to sit with you one-on-one the following week.
5.
6.
LOGISTICS OFADYNAMIC LANDLORD SEMINAR
Mike Connolly is Owner/Broker of East Bay Property Management in Fremont, California. He is an RMP® (Residential Management Professional) Candidate with 440 residential doors in less than
the deposit. Cover the
7.
PAY
WHERE? Ideally, you want your landlord seminar at your office. Let them see your place of business. WHEN? I have my seminars on Sat- urday mornings. They are two hours
security deposit basics.
four years in the business. To request his seminar PowerPoint presentation at no charge, simply e-mail him at: mike@eastbaypmc.com. Members of NARPM® receive information like this article every month through its news magazine, Residential Re- source. To join or learn more, visit NARPM.org/join.
with maintenance
8.
PROMPT
requests. Emphasize the importance of responding
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