5 Property Management Strategies for Growing Your Property Company

1. Improve the Properties You Currently Manage

One of the best ways to get new clients is by having existing property owners and tenants who trust and value your services. These people become advocates for your company and services when you're looking for new clients. 

How can you build a network of existing clients who sing your praises? Start by improving your current services for properties you currently manage.

Can you improve your maintenance and inspection schedule to enhance the quality of the doors under your management? Are there property upgrades you can recommend to owners that can improve tenant retention? Improving your current operations makes your property owners more money, leading to positive reviews and references.

Ask yourself:

Are your current clients getting everything they need? Are there performance metrics (like NOI or retention) you can improve that would make your results more attractive to future clients?

How to get started:

Conduct a portfolio audit to identify pain points in your current management process. Look for opportunities to optimize maintenance coordination, vendor management, and owner reporting.

This is a great opportunity to bring in a property management consultant to assess your current operations and help you improve your service delivery for long-term retention and organic growth.

2. Prioritize Tenant Retention

Tenant turnover is costly for property owners and signals that a property manager is not doing their job. You can build a record of boosting revenue for property owners when you invest in positive tenant relations. 

Sometimes, improving your services to renters is the best way to add more doors. An online tenant portal for rent payments or maintenance requests helps attract and retain quality renters. These offerings align with what property owners in your market value most. Plus, as your operations become more efficient, your team has more room to take on additional doors!

If you're not sure how to find the best property management software to improve tenant services, work with a property management consultant.

Ask yourself:

What’s your average tenant retention rate? Do you have a documented resident experience strategy?

How to get started:

• Audit your move-in/move-out process and resident communication workflows
• Implement resident satisfaction surveys to uncover hidden issues
• Consider offering value-added services like filter delivery, rewards programs, or flexible payment plans

A property management consultant like Deb Newell can help you build out a repeatable resident experience model that improves retention and helps owners see your long-term value.

3. Invest In Strategic Property Management Marketing Strategies

You might be excellent at marketing rental properties for your clients. But have you also invested in a strategic marketing plan for your property management business? Reaching more potential clients and dominating your market requires a plan to get the word out about your services. 

The right property management marketing systems help you generate leads and connect with new property owners. Ensure you have the right staff and processes to focus on growing your business.

Ask yourself:

Do you have a clear value proposition for new clients? Is your lead funnel automated, trackable, and optimized for conversions?

How to get started:

• Update your website to communicate your services and market expertise clearly
• Run targeted campaigns through Google Ads or local SEO to attract investor leads
• Create an email or content marketing funnel to educate and nurture prospects

RTCS offers marketing audits and business development strategy sessions to help property managers identify what's working and what’s not, as well as how to build a system that actually attracts the right clients.

4. Set Goals (And Stick to Them)

As property management business owners, do you have a business plan for your company? If not, understanding your current operations and how to get to where you want to be becomes a bigger challenge. 

Your property management business plan should help you identify goals and the steps needed to meet those goals. Working with a property management consultant can be the best way to map out a plan. They can analyze your current infrastructure, processes, and technology solutions. This helps employees identify what needs to happen to build their portfolio of managed properties. 

Once a business owner has a plan in place, they should implement it to make sure they stick to their goals! A good plan helps you scale with the right workflows, software, team members, and training to support new business.

Ask yourself:

What will success look like in 12 months? Do you have KPIs, and are you tracking them?

How to get started:

• Define SMART goals around revenue, door count, retention, or profitability
• Break those goals into quarterly milestones with responsible team members
• Review progress monthly and adjust based on data, not gut feelings\

Need help setting the right goals and keeping your team accountable? Scheduling a discovery call with Deb Newell can provide clarity and a plan of action based on your unique business model.

5. Embrace Networking

If you started your career by managing properties for someone else, it can be difficult to transition from "property manager" to "property management company owner." However, to grow your business in the property management industry, you need to embrace your role as the "boss" and take on the responsibilities that come with it.

Networking can be a growth strategy that's hard for some company owners to embrace, but it's critical for success. An intentional approach to networking boosts the effects of word-of-mouth marketing through relationship building. 

Find groups to connect with other real estate or property management professionals. Look for investor groups and business-building groups, like your local Chamber of Commerce. When property owners see you active in the community and connected to industry and area leaders, they see your company as the go-to resource for expert property management services!

Ask yourself:

Do people in your market know who you are? Are you building relationships that can send referrals or open doors?

How to get started:

• Attend local investor meetups, NARPM chapters, or chamber events
• Partner with local agents or brokers to become their go-to property manager
• Invest in your leadership skills so you can confidently grow your team and business

A coach can help you step into the leadership mindset and learn how to build a reputation that attracts top-tier clients and employees alike.

Achieve Property Management Growth With Insights From a Property Management Consultant

It can be intimidating to build your portfolio without the right strategies and insights. Pinpoint the ideal areas to start your business growth with the help of a property management coach who has been there before! 

Real-Time Consulting Services helps property managers grow their businesses into successful property management companies by taking them through an in-depth transformation process. This includes setting goals, defining success metrics, assessing what's going well, and identifying opportunities for improvement.

We work closely with our clients every step of the way to implement customized plans for growth success. If property management coaching sounds like something you would like to learn more about, schedule a free consultation!