Property Management
Buildings with permanent managers had 0% vacancy. Buildings with rotating managers had 12%. One company proved the best asset in real estate isn
A property management company treated every residential building identically. Collect rent, handle maintenance, manage tenants. The job was purely reactive. The owner noticed something profound. Buildings with consistent permanent managers had 0% vacancy. Buildings with rotating managers had 12% vacancy. The best predictor of occupancy wasn't the building itself. It was where the tenants believed someone was actually responsible for their home. She flipped the incentive structure. Each manager got assigned one building for five years minimum. Compensation was 80% base salary and 20% bonus tied to occupancy and tenant retention. Hitting 98% occupancy with zero turnover for 18 months meant $10,000 bonus.
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