DGS 8: Increasing Fees in Property Management with Darren Hunter - Part 2
Property Management Growth with DoorGrow · Jason Hull
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Show Notes
Learn how to properly increase your rent-roll without adding new doors - by increasing or adding fees.
You will learn from Darren Hunter his secret to justifying your additional fees by leveraging the law of alternative costs, & how little your clients really care about your competitors, & the power of peace of mind.
You'll Learn- How to use the Law of Alternative Cost to justify your fees 2:28
- Property Managers don't charge enough for their hourly rate 5:46
- Be careful of talking about specific fee amounts with other PMs 7:38
- Darren has a large list of possible owner & tenant fees 8:04
- Most money-tight owners tolerate fee increases & those that leave are often your worst! 9:23
- Myth: Owners will go to the discount agency down the road if you increase your fees 12:47
- You may be thinking about your competitors, but your clients are not 14:51
- The power of "Peace of Mind" is incredibly strong 16:31
- Charging less doesn't motivate owners to leave a property manager if they have peace of mind 17:27
- Adding value is not necessary, just peace of mind 18:15
- Basic fees differ wildly based on each property manager's self-belief. 18:49
C-class owners are like a pack of cigarettes and they'll take years off your life.
Crappy owners generally have crappy properties, which attract crappy tenants.
ResourcesThe Eleven Profit Laws on Fees by Darren Hunter: http://www.darrenhunter.com/articles-and-knowledge-library/boosting-income-and-profitability-articles/the-eleven-profit-laws-on-fees-part-one