We do weekly

100%! I think this community is mostly spam. You should join the wealth-driven-pm here on Skool. It’s the most active PM community on Skool.

@Mattew Field I look at it by asking what is the value the client actually is looking for? In summary, they want the best tenant in the shortest amount of time who will protect their asset. That’s the realm we work in and can monetize. Then ask, if I don’t preform this service, what would it cost my client? This opens the possibility for value monetization.

@Mattew Field That’s a good question, but I don’t think there’s a clean percentage of value that a property manager should try to monetize. I look at it more as value created vs. value captured. If I create $10,000 of additional value for an owner, I don’t necessarily need to figure out how to capture 20% or 30% of it. I need to make sure the price feels small relative to the value of the outcome. And in property management, that value goes well beyond collecting rent. What is it worth to reduce vacancy by two weeks? What is better tenant selection worth? What is avoiding one bad eviction worth? What is proper risk management worth? What is preserving the asset worth? What is getting market rent instead of being $200/month under market worth? And what is giving the owner their time and peace of mind back worth? That’s why I don’t believe pricing should start with, “What does it cost me to perform these tasks, and what margin should I add?” It should start with, “What problem are we solving, what outcome are we creating, and what is that outcome worth to this particular owner?” Then you work backward to a price where the owner can clearly see, “I’m getting substantially more value than I’m paying for.” That’s the sweet spot. You don’t need to capture all, or even most, of the value you create. You just need to stop giving away valuable outcomes because they happen to be inexpensive for you to deliver.