What the fastest-growing PMs are doing, Churn Resources, Top Podcasts, and More!

Welcome to the 7th edition of the Blanket PM Newsletter - (Read Time - 3:06)

Every month, we share exciting news, owner churn and growth-related resources, product updates you need to know about, and great tools you can use in your property management business.

(This newsletter was originally email-only. We're working on a way to get you access to previous editions!)

Ok, let's do it!

Around the Community

Here are a few great resources from your fellow property managers:

• Check out this great video from Marc Cunningham on how to prepare owners for one (or more) down years - Prepare your investors to lose money
• Our very own Jeffrey J. Grice wrote a great article on the importance of being a hyper-local expert.
• Marc Cunningham and Jeremy Pound debate who should handle business development.
• Crane is an exclusive community for top-performing property managers. Blanket is a partner because of their commitment to growth and continuous improvement. You can learn more about Crane here.

Deep(er) Dive: Makes you Think Twice

We're seeing the fastest-growing PMs have turn their focus from paid lead gen to organic channels.

They’re starting podcasts, making YouTube videos, and producing email newsletters, all with a bent toward educating owners.

They’re doing this because they know the importance of nurturing top-of-funnel leads, not just owners who are ready to buy.

You could say they’re building an audience of SFR-minded people. And while it may take many clients longer to buy, they’re much less likely to churn once they do.

This insight comes from a recent RentScale leaderboard analysis conducted by Jeremy Pound and Jennifer Merritt .

A few of their other findings include:

1. The PMs at the top of the leaderboard are highly invested in training their employees and paying top dollar for top talent. They’re also taking the time to find the best fit. They don’t settle for finding a BDM; they insist on finding the right one.
2. Top-performing PMs specialize. They niche down and focus on a specific segment of SFR that best fits them. The more granular, the better. One PM who consistently tops the RentScale leaderboard zeroes in on specific streets in their markets.

Check out their full conversation here

Top LinkedIn Posts

In case you missed them, here are our top posts from last month:

• Customer success is music to our ears! Check out this partner highlight.
• Property managers are the only constant in an investor or accidental landlord’s journey.
• We're less than one month away from #NARPM Annual in Dallas, Tx!

Making Industry History

Big announcement!

We recently partnered with ProfitCoach to develop the FIRST-EVER Property Management Operations Standards!

These standards will finally give PMs:

1. What key metrics to track
2. How to measure them
3. What targets they should aim for

The results will be released during the NARPM Annual Convention in Dallas.

We can’t wait to see the final standards and the impact they will have on the property management industry!

Our Favorite Podcast

We recently had a great chat with Paul Kankowski on the Property Management Systems YouTube channel!

Paul is the founder of the PM Systems Conference and a friend of Blanket! He had a lot of great questions. We hope the answers are just as good.

We sponsored the PM Systems Conference last year and will be sponsoring the upcoming conference in January 2025.

Watch the full interview here

Closing Thoughts

As you can tell from the partnerships mentioned in this newsletter, Blanket encourages property managers to optimize their operations:

1. Crane is built for “property managers determined to streamline operations, drive growth, and maximize profitability.”
2. We sponsor the PM Systems Conference, “designed to help [property managers] develop efficient and effective business processes.” (Use Promo Code BLANKETROCKS for $100 discount on your conference tickets)
3. And we’re partnering with ProfitCoach to develop the first-ever property management operational standards. (Stay Tuned!)

Why focus on optimization? Because it impacts owner churn. And you already know we’re all about reducing owner churn!

We’ve found that one of the top reasons owners churn is because they had a poor experience with their property manager. This usually takes the form of slow/no communication, bad performance regarding important tasks like tenant turn, and not feeling like they’re getting what they’re paying for.

But when processes are optimized, poor experience is less of a factor in the owner churn equation.

That's all for September, see you in October!

Best Regards,

Lior Abramovich?? and the Blanket Team

P.S. Leave us a comment with what you like and dislike—we want to make sure the content is just right for you! Thank you!