DGS 9: Increasing Fees in Property Management with Darren Hunter - Part 3
Property Management Growth with DoorGrow · Jason Hull
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Show Notes
In this episode, Darren shares a variety of owner & tenant fees & how to justify them. He also covers some additional insights into fees & mindset. Learn why having the cheapest fees is a losing tactic used by small property managers that usually fail.
You'll Learn...- Various owner fees & some justifications 1:29
- The two ingredients to getting better fees 9:21
- Outside normal duty fees & what to say when asked to do anything outside of contract 9:46
- Various Tenant fees & some justifications 10:47
- How nominal fee increases can easily double your profit margin 14:53
- How having the cheapest fees is just a recipe for disaster 17:40
- Property Management is a tough job & you are worth it! 18:49
- The Law of the Main Game - Owners generally only focus on your main fee 20:08
- Should you share your tenant fees with the owners? 22:47
- Ensure 12+ months of owner peace of mind & make it surgical process. 25:21
With fees, if you believe you're worth it and know how to justify it, you will get it.
Raising property management fees is an owner-by-owner surgical process.
Resources:The 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