How to Create an Efficient Asset Management Model-Anna Myers

by Neal Bawa | The Creative Real Estate

In this podcast, you’ll learn:

  • As syndicators we are responsible to our investors
  • Asset Managers are serving both residents and investors
  • A great Asset manager is good with people and numbers
  • “We just don’t buy apartment buildings, we buy a community”
  • As a Property Manager, you should:

  • Take care of showing the property when there is a vacancy
  • Receives the applications which become leases
  • Vet the tenants to make sure they meet the qualifications
  • Move ins and move outs
  • Turn overs and renovation
  • Be responsible to deliver the numbers
  • Keep the books and Inputs data in the company software

Asset Management Models

  • Monday Morning Report (MMR) – details about economic occupancy, delinquency, number of repairs and service, numbers of NTV (Notice to Vacate), current occupancy.

Leads and Leases Report: (LASAL SYSTEM)
L-tracking incoming Leads
A-Appointments that was generated from the leads
S-the actual people that Showed up to the appointments
A-how many people gave the Application
L-how many people got approved  for the Leases 

  • Why check the Ratio from Leads to Appointments?
  • Reason why “Numbers Don’t Lie”?

CAPEX Tracker – a report where you can see units numbers that are up, what size they are, when they became vacant, when they started working on the unit, when they finish it and the budget.

How to find the best property management company

  1. Narrow down the best in property management company in your area
  2. Interview them in detail that corresponds to what you’re looking for
  3. Open to your company’s system