PMI Blog

Why Vacation Rental Owners Need Local Property Managers For Maximum Profits

April 23, 2018
By Billy O’Sullivan, Director of Vacation Rentals

I stayed in my first vacation rental about seventeen years ago when I paid my mailman $100 to stay at his cabin in Big Bear, California for the weekend. This stay gave me the idea to rent out a condo I owned on the Hollywood Sunset Strip, and that was it, I fell in love with vacation rentals. That love has stuck with me for nearly two decades. The vacation rental game has changed considerably since my stay in Big Bear. Businesses have sprouted up all over trying to get a piece of the...

PMI Blue Creek Owner and Former NFL Athlete Thomas Smith Featured on Cash Flow Diary Podcast

Thomas Smith, the owner of PMI Bluecreek (formerly PMI Elite Baltimore), appeared as a featured guest in “From Football to Real Estate,” an episode of the Cash Flow Diary, a resource for new and experienced investors hosted by real estate industry expert, and financial coach J. Massey.

Smith’s successful career in the NFL lasted ten years, three times longer than the natural average, and when he retired in 2002, he found himself looking for his ne...

Finding Deductions for Residential Rental Property and Lowering your Tax Bill

April 10, 2018 
By Cassie James, PMI Communications Manager

Tax season can be stressful for solo entrepreneurs and landlords. The last thing any investor wants is for an unexpected tax bill to cut profits on their real estate investment. If you own residential property, you are aware that there are a number of unavoidable costs and expenses that go along with the territory. If you want to maximize the return on your investment, it is essential to understand what expenses you can deduct related to your property so that you don’t end up overpaying...

Lead Management Software: The Powerful Tool Property Managers Need

March 23, 2018
By Jaden Trujillo, PMI Association Coordinator

Excel. Google Sheets. A sticky note on your mirror, nightstand, or desk. These are just a few of the ways that property managers across the nation manage their leads. Sales are key to growing your business, but most property managers struggle with managing their sales leads. We all know that managing leads and general organization is essential to running a successful property management business; however, it seems that we often get caught up in working in our business and not on our business. We all say we are hungry for business, and most of us act like it, ...

The Seven Portfolio Multipliers That Every Property Manager Should Master

By Jeremiah Cundiff, PMI Executive Director of Operations

I’ve had conversations with hundreds of property management professionals during my career in the industry, and I’ve noticed a common theme that separates the smaller property management companies, or “Solo Property Managers,” from the property management companies that dominate their markets, “Strategic Property Managers.”

The key difference between the Solo Property Manager and the Strategic Property Manager is that the Strategi...

3 Tips to Keep Property Management Leads in the Sales Funnel

February 23, 2018
By Ashley Johnson, Writer for Smart Business Hacks

As a property manager, one of the most important tasks you will be faced with is keeping leads in your sales funnel. It may seem daunting at first, but in the end, it all comes down to learning how to balance your time, your focal points, and the needs of both you and your leads. Below we have three tips that will help keep you from losing leads.

Following up is the number one best way to keep leads from falling out of your sales fun...

Property Managers Going Without Insurance is Not Worth the Risk

by Kasey Green, Compliance Coordinator

In December 2017, the Rental Protection Agency reported that the increasing growth rate of new renters means about 2,654 individuals are entering the rental market every day. Property Managers are seeing some of the strongest numbers in recent decades with rental households consistently increasing and demand outnumbering supply. With data like this, whether you are just starting out or have been managing properties for years, it’s a great time to be a property ma...

2018 U.S. Rental Housing Market Forecast

January 29, 2018
by Brian Birdy, PMI Vice-President

I enjoy reading the housing market forecasts each year to see what changes might affect my property management business, but I rarely make major business decisions based on these forecasts. By just looking at last year’s forecast it is easy to see how these are indicators of what might occur in the market. The 2017 housing forecast predicted: more inventory, a moderate price growth, an increase in new construction, and rise in mortgage rates. Very little about the housing market went as forecasted in 2017. Instead, we saw inventory tigh...

Evictions: How to Avoid Them

January 9th, 2018
By Jim Dangerfield, General Support

Evictions are one of the most challenging events for both landlords and tenants, they are emotionally draining and can be costly for everyone involved. Proactive property managers will want to ask themselves “How can I avoid evicting anyone?” Here are a few of our top tips for making sure you never have to worry about pushing your tenants out the door.

The easiest way to avoid evictions is to make sure tenants pay their rent on time, but for many property managers this is easier said than do...

Marketing Your Property Management Business during the Holidays

December 15, 2017
By Cassie James, PMI Public Relations Manager     

The winter months tend to be the slowest of the year for the property management industry. Tenants usually want to avoid moving out during the holidays, and many property managers see this as a welcome break from the regular grind, but wise property managers know that the holidays are an ideal time for growing your property management business through marketing.

Because property manageme...