text expressing interest to the property management company and, if the company uses a self-showing service, get a code that allows the potential tenants to check out the rental on their own. Practically the entire process could be handled via smart- phone. The tenants might not deal with another human face-to- face until they’re ready to move in. Of course, some Millennials prefer human contact. And some 50-plus renters are as handy with an iPhone as anybody. So ask clients how they want to communicate with you, Birdy said. “Give people options for how they do things.” EXPAND YOUR CAPACITYWITH TECH Property managers might not have a reputation for being on the cutting edge of technology, but that’s changing. “We have caught up quickly in the last two years,” Birdy said. Take payment systems, for example. About 80 percent of his tenants now pay electronically, and there are fewer failed pay- ments as a result. Even renters who lack bank accounts can go to a nearby gro- cery store and use a service like PayLease. Technology also makes it easier for property managers to for- ward payments to their investor clients, too. Birdy can remember his early days in the business, managing 75 doors. It took a lot of organization and time to quickly mail checks to clients. In some cases, he would actually physically deposit the checks at their banks, so clients could receive their money even faster. Now those payments are all handled electronically. Technology makes it possible for a single person to manage 100
doors without a brick-and-mortar office or any employees, Birdy said. If property managers use these services to reduce their daily to-do list, they’ll have more time to grow their business. BE READY FOR MORE GOVERNMENT ACTION This spring, the U.S. Department of Housing and Urban Development warned landlords they could be found in viola- tion of the Fair Housing Act if they refuse to rent people with arrests on their records. HUD’s argument is that, because some racial and ethnic minori- ties have higher rates of incarceration, a blanket ban against renting to all former criminals will have an unfair, disparate impact on African Americans and Hispanics. A legal challenge is certain, but the case illustrates an im- portant lesson for property managers: Your tenant screening rules and other policies won’t be judged on their intent alone, but by their outcomes, too. It applies to more than just race. Birdy knows some apart- ment complexes that have started a “garbage concierge” ser- vice because tenants with disabilities aren’t able to take their own trash out to the complex’s dumpster. “You should be thinking about how your business is struc- tured,” Birdy said. KEYS TO SUCCESS While business trends come and go, there are certain timeless skills that smart property managers always need. Birdy got into property management after 15 years serving in the U.S. Air Force. He had been a recruiter, working with both enlisted and medical personnel. As a result, he had a wealth of experience in sales and communication, and it’s been a boon to his company. If property managers want to win more business, he said, “You’ve got to get out there and sell yourself.” Communicating up front also prevents a range of problems in the direct management of units. It’s the difference between being a firefighter and being Smokey the Bear. Would you rather race around putting out fires, or would you rather prevent them from starting in the first place? If you take a Smokey-centric approach, “there are still going to be fires,” Birdy said, “but there won’t be as many.” And always remember to offer the best possible product that you can, Birdy said. You’ll be able to attract the best renters, who will pay more and do a better job caring for the rental. In a hot market, you could still probably place a tenant in a unit that isn’t in its best condition, but not as fast, and that person might let the property deteriorate. “You either start climbing to the top,” Birdy said, “or start sliding to the bottom.” •
James Hart is senior staff writer for Think Realty Magazine. Contact him at jhart@ithinkbigger.com.
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