What’s up guys, in today’s video, I’m going to talk to you about how to find a really great property management company for your short term rental property your Airbnb. There’s two types of people that might really benefit from this video. Either you’re one looking to find a property management company, obviously, and in this video, I’m going to share with you some ways that you can go about making that decision and choosing the right person. So you can avoid a potential disaster, because let me tell you the difference between picking a great property management company, and a not so great one can mean a multi 1000, if not 10s of 1000s of dollars in difference to your bottom line at the end of the year. So you definitely want to make sure you make this decision correctly. Or to you might be a property management company yourself or be thinking about creating one. And if you want to start a property management company, or you already run one, obviously, you want to be one of the property management companies that actually gets picked. That is a really great one. And so you want to stay in touch with this video and just watch this video to see exactly what my recommendations are. Because this is going to tell you exactly what you need to do to make sure that your property management company grows on autopilot. Now for either one of you guys, there’s links in description down below to some free trainings whether you want to manage other people’s properties or investor managing your own. That’s it, let’s dive into it. And place I’d like to start is specialisation. Now, super, super important. And this is something that I don’t see a lot of people talking about, I think too many people overlook is that your property management company that you select for your property needs to be specialised in your market. And ideally in dealing with your type of property. Because a person that manages or company that manages all different types of properties is generally not going to do a very good job of optimising the performance of yours. So for example, if you manage high end properties and low end properties, a one bedroom condo here, and a seven bedroom villa there, then you’re just fundamentally dealing with two totally different products that you’re trying to sell. And the way you go about marketing and selling those two different products is totally different. So if you find yourself dealing with a jack of all trades type property manager company, there probably is not actually going to be master of either one of those. The other thing that you have to bear in mind is location. If someone doesn’t specialise in your specific market, then they may not know about the different seasonal fluctuations in your market super well, they might not keep up to date with the events happening in that area. And they might not adjust your price accordingly, they might just not really understand why people travel and not be able to optimise your listing better, or as well as they could, because they don’t understand why people travel to that area in the first place and how to attract those types of guests. So take these big companies like evolve ICASA, these other ones as an example, you see time and time again, or at least I do, because I talked to a lot of these investors that actually have their properties managed by these companies. And there’s consistent issues with those companies like not updating pricing when they should be or not updating the headline, because the season change, or there’s an event happening in town or they just don’t really do a great job with the photography or with the listing optimization. And all these problems happen. And so if you really want to find a great property management company, that’s going to net you as much as possible. And it’s worth paying even a little bit more to find a property management company that’s going to really dial things in and actually produce more revenue, I’d rather pay 20% to a property management company that’s going to get me a whole bunch more revenue versus paying 10%. For a property management company that’s gonna get me you know, a fraction of what I could be earning and where I’m gonna net a lot less at the end of the year. And so what I found is one of the biggest differentiators on that front is specialisation, you want to work with someone that really understands your market, and understands ideally that type of property that you’re that you have on your hands better than anyone. So that’s one thing. Now the second thing I recommend is that you pick a property management company whose service offering matches with the actual needs and challenges that you have. So if you’re a larger scale investor, and you want to keep managing with your cleaning team and your maintenance person, you might only want a property manager that deals with the pre check and aspects of property management like listing, optimization, pricing, optimization, a bit of guests communication, you might not want full service. Whereas if you’re a vacation homeowner that wants to be completely hands off and have this be totally passive income for you, then maybe you do want someone that’s full service has their own cleaning team, their own maintenance, everything else. What I found is that if you find a property management company that their services just don’t really match with what you’re looking for and you try to make it work, at best, you’re going to be in a mediocre position. So take the time to find a property management company that really specialises in an offer services that really map and line up well with exactly what you’re looking for. So that it can be a long term win for both of you guys. Because ultimately you want to find a property management company that you can stick with for multiple years into the future. And so it’s worth taking the time upfront to make sure that you find the right property management company for this role. Now, the other thing I would highly recommend that you consider is the level of experience that a Property Man Your house because experience does make a really big difference in this industry. So it’s not to say that you shouldn’t work with someone who’s brand new starting out. But if they’re brand new starting out, and they don’t have any kind of training or education, or anyone they’re getting mentored by in the space, then that’s going to be probably a no for me. Because ultimately, that means that your property is going to be the testing ground for them, they’re going to learn and pay for their education by losing money on your property making mistakes along the way. So I really wouldn’t advise on working with someone like that. If you’re working with someone that has a bunch of experience already in the area, great check references, make sure that people are happy with them. But if you’re working with someone who is brand new, then at least make sure that they’re working with a coach or a mentor or a system a training, they’ve had the education, to have learned a lot of the lessons they need to learn without having to make mistakes, and without specifically having to make mistakes with your property on the line. So that’s another big one. I think a lot of property managers, by the way, if you’re someone who’s thinking about starting a property management company, I think a lot of people overestimate how challenging it’s going to be to get started, they think it’s gonna be a lot more challenging than it really is. A lot of people always ask me, you know, how can I get my first client if I don’t have experience, and it’s one of those classic kind of meme situations where all jobs want experience, but no jobs are going to, you can’t get a new job to get the experience. And so my best answer to that, if you’re looking to start a property management company, is get the experience without actually managing properties, get the experience from working with a coach or mentor someone like me that you learn from. So you can get that stamp on your resume that says, hey, I’m actually doing this education, I learned this stuff. It’s the same reason that doctors go through schooling to be able to be hired as a doctor, they need that education, because education is in and of itself experience. So that’s another big tip for property management companies out there, if that’s why you’re watching this video. Now, the other thing I would say is just make sure that when you’re selecting a property management company, you work with someone that you like, guys just want to take a quick break here to say that for those of you watching, who want to build cashflow, and long term wealth by purchasing Airbnb ease and short term rental properties, there’s a link in the description right down below for a free training that will walk you through my exact strategy for investing successfully in Airbnb ease. Now, if you’re not ready to actually buy properties, and you want to get started managing other people’s properties on Airbnb the same way I got started and build a full time income managing other people’s properties, there’s actually another free training linked in the description down below as well, that’ll be a really great fit for you. So whether you want to invest in short term rental properties, and actually build amazing cash flow and long term wealth by acquiring the assets, buying the properties themselves, or you’re looking to earn a full time income, managing other people’s properties on Airbnb, we’ve got some awesome trainings that are linked in the description down below, that’ll definitely help you out. When you sign up for the trainings, we’re also going to send you a few other tools and resources completely for free just to help you get started. Again, the links to sign up are in the description down below. And both trainings and all the tools are completely free. So make sure to register for the trainings, links in the description down below.

Now, the other thing I would say is just make sure that when you’re selecting a property management company, you work with someone that you like. So this is a pretty basic one, I think it’s really important because again, you’re gonna have a long term relationship with these people. If they just don’t mesh well with you and you don’t like them, you don’t actually respect them and want to sit down and meet with them or like the way that they operate their business, then it’s probably not worth doing it. I see a lot of people that kind of just overlook this and they go, Okay, I’m going to work with evolve just because it’s easy, it’s there, but they don’t actually specialise in the market. Sure, they’ve got a boatload of experience. And they also don’t like the company dealing with them is a bit miserable, their customer support sucks, and they just kind of suck it up and deal with it. And in my experience is just never a good long term strategy. You want to work with a property management company that ultimately has your best interests at heart has your back. And probably the most important tip I’ll give to you is work with a property management company that you actually matter to. So that’s another big problem with these large companies is that at the end of the day, you’re one of 1000s, if not 10s, of 1000s of properties that they manage. So a couple $1,000 in extra revenue to you is a rounding error on their balance sheet. At the end of the year, when it comes to the management fees they made. Just think about that. If you work with a big huge company like evolve, then an extra $10,000 a year a year for you is an extra $1,000 in management fees to them. They’re a multi multi multi million dollar company. So that extra $1,000 is a total rounding error. It just doesn’t matter to them. But I bet that $10,000 Extra in the year would make a pretty big difference for you. And so you want to bear that in mind and make sure that your interests are actually aligned. You want to work with a property management company that actually cares about what you care about and that their interests are aligned so they’re going to Fight hard to get those extra bookings and go that extra mile to really do a great job for you and deliver a high quality service. So those are my thoughts. That’s the process I go through. If I’m looking at helping someone find a property management company, those are the questions I ask. If you have other things that you look for, let me know in the comment section down below. If you liked this video, you found it valuable or helpful at all, then please give it a like just hit take a half a second hit that like button. And last but not least, if you’re new to the channel here or you watch these videos a bunch but you just for some reason have not yet subscribed, then make sure you hit the button below this video to subscribe to the channel and separate date with the two new videos we post every single week here. With all that being said thank you so much for watching, and I’ll see you in the next video.