5 Reasons Why Your Number of Doors Isn’t Growing | Fourandhalf - Internet Marketing for Property Management Companies

Forbes recently said that the property management industry was worth $73 billion in 2017.

That’s an enormous number, but some property managers are having problems growing. They’re stagnant year after year.

At Fourandhalf, we’re all about growth. So, we got together and came up with 5 reasons you may not be increasing the number of doors under management.

Underspending on Marketing

All growth starts with a fantastic business. If you have that business, are you spending enough to promote it? It’s irritating when an average company that’s not as good as yours is doing better just because they know how to get the word out.

Recently, we blogged about customer acquisition costs. Do you know your company’s CAC? You should know how many units you want to grow by. You should know how much it costs you to earn a new customer. Put those numbers together, do a little math, and spend the amount you need to bring in the right number of doors.   

Refusing to Delegate Tasks

Are you trying to do everything yourself? Successful leaders of growing businesses know how to delegate tasks. If you are doing the same things at 150 units that you did at 30 units, it’s going to be hard to grow any further.

Don’t be stuck in the trenches managing properties when you should be handling things like growth and planning. You can outsource tasks or hire a business development manager to handle leads while you work on other facets of your business. Also, re-evaluate everyone’s role, and make sure your team members like what they do every day, including yourself. Employee turnover will kill your efficiency and profitability.

Outdated Technology

You’ll grow faster if you stay up to date with technology. Think about your owner presentation and how it compares to other companies’ presentations. If you’re not able to advertise that you have the newest features like online bill payments and vacancy marketing tools, you’re going to lose business to your competition.

Demonstrate that you’re sophisticated when it comes to technology. If something that you do every day isn’t automated, find out if there’s a solution that can help you. Then, build that into your budget so you can continue to improve and not stay stagnant.   

Competing on Cost

If you’re acquiring new business by offering too low a price, it’s dangerous for your retention and your profitability. Competing on cost is going to fail you when some other company comes along with lower rates and you lose all that business you attracted with low fees. That won’t deliver, and it will be expensive if your CAC is high.

Focus on profitability, not revenue. Many of our clients have this worked out beautifully. Everyone who handles the account understands what makes a good property for the company. It’s location, condition, the amount it will rent for, and the type of owner you’re working with. If your staff is tied up with calls from just a couple of owners, it’s going to be hard to be productive for all your owners. Focus on the growth that will contribute to your profits over the long term.

Losing Your Customer Focus

Finally, if your customers are no longer the focus of your company, you won’t grow. It’s hard to deliver when tenants are calling to complain and owners have feedback about how you handled a certain situation.

It’s essential that your employees are enthusiastic, responsive, and helpful. If the first person who answers the phone can help the caller or at least explain when the issue will be resolved, you’re going to provide good customer service, and your business will grow. Growth depends on perception, and you want to be perceived as a service-oriented company.

If you’d like to see more growth and you’re ready to get started, contact us at Fourandhalf.

Alex Osenenko

About Alex Osenenko

Alex’s professional mission in life is to help small businesses grow and thrive. Alex is the President and CEO of Fourandhalf.com and a Co-Founder of the PM Grow, Inc. His business philosophy is simple: Happy Customers are created by Happy Employees, which results in Happy Shareholders. Alex's deep commitment to entrepreneurship and improving the lives of small business owners everywhere empower him to host “The Property Management Show” bi-weekly Podcast and speak internationally on the subjects of Growth, Marketing, Sales, and Entrepreneurship.

Leave a Reply

Request a Free Website Consultation

Estimate ROI (Return On Investment)

Desired Growth (# of properties) :
Average Monthly Rent :
Annual Contract Value: $0
Customer Lifetime Value: $0
Estimated Annual Profit: $0
Estimated Lifetime Profit: $0
Estimated Portfolio Value Upon Sale: $0

How we got these numbers

• Annual Customer Value (8% of average rent multiplied by 12)
• Customer Lifetime Value (4 multiplied by ACV)
• Estimated Annual Profit (at 20% of ACV)
• Estimated Lifetime Profit (at 20% of LCV)
• Estimated Portfolio Value Upon Sale (1.2 times ACV)

WEBSITE CLIENT REVIEW

Experienced a 183% increase in website owner leads compared to previous site

“I love our OnePartner website and have seen a significant increase in engagement with our prospective clients. The leads are better quality and higher quantity which allows our business development manager to close more contracts.”


                            – Jock McNeill, Owner of Alliance Property Management

REQUEST A FREE CONSULTATION


  • This field is for validation purposes and should be left unchanged.
SCALE MARKETING CLIENT
“Fourandhalf has been the cornerstone of our marketing program. They are easy to work with and produce measurable results. Every marketing dollar is important to us and Fourandhalf makes our budget work for us.”
– Danielle Miner, Owner Oak Trust Property Management

FREE MARKETING CONSULTATION


  • This field is for validation purposes and should be left unchanged.
ONEPARTNER CLIENT REVIEW

Experienced a 190% increase in website owner leads compared to previous site

“We are only a few months in and the decision to switch to the OnePartner platform is already paying dividends. Our inbound leads have significantly increased and perhaps more importantly, we can now actually measure the effectiveness of our campaigns and 3rd party ads. I highly recommend the OnePartner team.”

                    – Andy Moore, Owner of Gulf Coast Property Management

REQUEST BUSINESS REVIEW


  • This field is for validation purposes and should be left unchanged.
Fill out my online form

Alex Osenenko
President and CEO

Alex’s professional mission in life is to help small businesses grow and thrive. He is the President and CEO of Fourandhalf.com and is serving his 5th year on the Board of Directors for CALNARPM.

After spending 9 years in the trenches with his property management clients, Alex draws on his experience to host “The Property Management Show” Podcast and co-authors a weekly Property Management Blog on Fourandhalf.com. Alex has extensive experience speaking for various NARPM events at the local, state, regional and national level.

Alex is a graduate of San Francisco State University with an Electronic Commerce Systems Degree. His business philosophy is simple: Happy Customers are created by Happy Employees, which results in Happy Shareholders. Alex serves on the Board of Directors of CALNARPM (California Chapter of National Association of Residential Property Managers) and hosts a Podcast “The Property Management Show“, available on iTunes.

 

John Bykowski
Chief Operating Officer

After graduating from the University of Michigan with a film degree, John proceeded to do everything but. During his career, John has specialized in operations and has developed processes for small companies in diverse industries, such as bleeding-edge marketing technology, social networking, trade shows and exhibitions, and cloud software. John and Alex had worked together previously, and when he needed someone to help take Fourandhalf to the next level and beyond, Alex brought in John as his first employee, and later, business partner.

In addition, now that he’s using his film school know-how to help property managers look their best in their blogs, his mom no longer feels his degree was a complete waste of time.

Danny Morris
Director of Account Management

Born in Australia and growing up in Israel, Danny has spent a lot of time traveling the world between those two places. After completing his military service in Israel, Danny began following his biggest passion, writing, which he discovered while backpacking South America and publishing his first book.

When it was time to unpack, he returned to Australia to complete his Journalism studies amongst the beaches of sunny Perth. Danny is a huge online fan and after working in a number of related jobs, he finally gets to combine his two favorite things, working with media and people.

Marina Osenenko
Product Manager

Marina draws upon her real estate, business operations and customer service expertise for Fourandhalf. Her favorite part of being with Fourandhalf is the opportunity she has to really get to know our clients, build professional customer relationships and truly be part of a team that assists in their success.

Her time away from work is happily spent watching her children grow up and attempting to keep up with them! Any spare moments beyond nurturing her children are filled with hiking, spending time with friends, exploring the Bay Area and squeezing in a non G-rated movie every now and then.

Marie Liamzon
Product and Marketing Manager

Before joining Fourandhalf, Marie worked for one of the largest banks in the world. She took on different roles, but couldn’t find what she was looking for. She pursued a variety of side projects until she finally decided it was time for a career change.

Marie is very passionate about helping people and learning new things. In her spare time, you might catch her exploring new places and taking far too many pictures.

Kyle McLean
Customer Success

Born in San Diego County, Kyle McLean has since migrated to the Oakland woods. A fan of tall trees and tall tales, he holds a bachelor’s degree from the creative writing program at the University of California, Riverside and is a licensed California Certified Shorthand Reporter.

After a few years as a freelance court reporter, Kyle has joined Fourandhalf for an opportunity in sales and digital marketing. In addition to reading and writing, his hobbies and interests include gardening, hiking, soccer, coffee brewing, and craft beers.

Karen Wyle
Account Management

Originally from the Philadelphia area, Karen moved eight times in seventeen years all over the East Coast and to the Midwest before settling here in Northern California six years ago. She is an alumna of Brandeis University with a BA in American Studies and earned a MBA in Marketing Management from Indiana University in Bloomington. Karen’s business career has been well-rounded, with experience including advertising, direct marketing, corporate retail, product management, new product development, and new customer generation. Beyond an office setting, she has been thrilled to volunteer her time giving back to the community with KPMG’s Family for Literacy, at her daughter’s school, and as a Girl Scout Troop Leader. Karen enjoys music, good food, traveling to new places, completing jigsaw puzzles, meeting people and making connections.

Karen became a part of Fourandhalf’s Account Management team in 2016, relaunching her marketing management career after a pause to raise her family. She is excited to rejoin the business world and to work with such a strong marketing management team.

Paige DeRuyter
Account Management

Paige graduated from Chico State University with a degree in Journalism. Her favorite part of working at Fourandhalf is helping clients create and produce educational blog content to grow their business. She is an avid sushi enthusiast who enjoys riding her bike and watching college football and in her free time.

Nissim Boozaglo
Web Hosting Support

After working as a Radioshack store manager, Nissim decided to change his career path and pursue his passion for music production by getting his B.A.S. from Expression College for the Digital Arts. Nissim has a beautiful 8-year-old girl and loves cooking delicious homemade food and going camping with her! At Fourandhalf, Nissim is responsible for the implementation of the clients’ Landing Pages and Google Adwords campaigns.

Theresa Barnes
Campaign Director

Theresa Barnes was born and raised in the Bay Area and graduated with her Bachelors Degree in Communications Studies at San Francisco State University. She worked in aviation at a private FBO for 3 years, and other industries, before joining the Fourandhalf team. She finds a balance between being a young mother, work, and living a healthy lifestyle outside of work by staying as active as possible. She is dedicated to customer satisfaction and having a great work ethic.

Brittany Stephens
Campaign Director

Brittany recently moved to the Bay area after graduating from California State University Chico with a degree in Business Marketing. She is known for her excellent communication, customer service skills, and shameless nerdyness. Her passions include: music, tabasco, Lord of the Rings, and the Golden State Warriors.

Logan Jones
Business Development

After graduating from CSU Chico with a Degree in Business Marketing, Logan moved back to the East Bay and pursued a career in sales. With an attention to detail and a relentless drive, he strives to improve himself and his passions each day. When not at work Logan enjoys playing guitar and writing songs, and occasionally performing around the Bay Area. He is an avid sports fan keeping up with everything SF Giants, 49ers, Cal Bears, and Golden State Warriors.

Hope Lumbley
Account Management

Hope recently moved to the Bay Area after graduating from Chico State University with a degree in Journalism. She is coffee crazed, dog obsessed and hopes to visit all National Parks. One of the greatest times in her life was when she lived abroad in Costa Rica and hopes to travel more of Central America in the future. She feels blessed to work for a company who supports her love for travel and the need to learn more about what the world has to offer.

Ebook Download

Top