The Story Of Toastie

Here with the latest trends, insights, and tips to help property managers and rental operators find the best possible residents in a changing landscape.

We can't always predict the right time for change.

Ideally, I'd say it's right before you NEED to make a change, or more specifically, before circumstances or events FORCE the change.

But...

Even when there may not seem to be a need for change, it might still be the right time to change.

Let me give you an example. Stay with me here.

The Story of Toastie

Let me tell you about Toastie.

He was a good toaster oven.

He served my family well for almost a decade. He was our go-to for toast, chicken nuggets, bagels, and even reheating leftovers.

There is nothing wrong with him.

He works just fine for the most part.

He gets the job done. He always has.

But the job he's needed for has changed.

When we got him, we were a smaller bunch. Only three of us. And one was still on a liquid diet.

Sure, Toastie “gets the job done”, but he no longer can properly accommodate the current needs of my family...today...in the now.

As a family of five, we simply need a bigger solution. Above that, we need a better solution.

For example, he can only hold two slices of bread. That means making toast for 3 kids requires twice the time.

The timer knob is not the most accurate either, so sometimes we misjudge the turn and burn things.

? Do you have any idea how inaccurate kids are in scraping the burnt off of toast? Our trash can is across from the sink but I can never tell what they were aiming for.

The temperature gauge always seemed to be hit or miss so we simply always had it on "Toast". For all we know that was too high or too low unless we were making toast.

But Toastie has gotten us this far so we could probably still use him for many more years. Right?

After all, there’s no fire...or at least he’s never started one...

??...that one time was completely my fault.

But as much as we appreciated his service, we knew it was the right time for a change.

Johnny….why are you talking about your toaster oven?

Because, oddly enough, the reason why we bought a new toaster oven is not dissimilar from the discussions rental operators are having in their own business.

With the end in sight for the busy leasing season, folks are now revisiting or starting the conversation around a change in their screening provider.

“There’s no fire, but...”

“It does the job, but...”

"We've always used them, but..."

The realization is happening now to consider this change for what comes next.

An Eye on Improvement

Whether that’s by increasing efficiencies, decreasing cost, improving processes, or eliminating bottlenecks; the path to increased operational excellence is on the mind of leadership every day.

I believe that in life and business, improvements are more often incremental rather than huge leaps. It's layering these improvements one after another, here and there, over time where the huge gains come from.

Incremental improvements, done enough times, in the right place, at the right moment is how massive difference is realized.

We didn't redo our kitchen, we bought a new toaster oven. We bought this to improve one part of our busy day-to-day lives.

But as trivial as it may seem, we didn't just buy a toaster oven. We bought a tool that improves how our home operates every single day.

• It gives us faster results (this thing warms up super quickly)
• It gives us more accurate results (no more over-turning the knob)
• It's easier to use and understand (hello digital display)
• It's addressing our changed needs (more capacity)
• It's eliminating inefficiencies (no need to do 2 batches of toast)
• It's helping us to consolidate and keep costs down (no need to buy a separate air fryer, dehydrator, etc)

This newsletter is still about screening, right?

Yes of course.

I don't know how my mind connected the dots between buying a new toaster oven as an analogy to resident screening but it did, and I think it fits.

I'm having these conversations every day about change because times have changed.

?? Businesses have changed.

?? Regulations and legislation have changed.

?? Fraud has changed.

?? Residents have changed.

?? Leasing processes have changed.

So while there may not be a need to change, it might still be the right time to change.

PS - I know what you're thinking "Man, Johnny really likes this toaster oven".

And you'd be right.

Johnny, can you help me?

Maybe, let's chat. If you've been sitting on the fence about reviewing your screening solution now may be the right time to make a switch. I'm sure with a short chat we can figure out what would be best for you.

Disclaimer: The opinions and views expressed in this article do not necessarily represent the views of my employer. The information provided is intended for general informational purposes only and may not be suitable for your specific circumstances. The information presented may also be subject to change and may not be up-to-date. Therefore, you should not rely on this information as legal, financial, or professional advice. Please consult with your own legal or financial advisors and abide by all applicable laws, rules, and regulations related to your situation.