For most of us, 2022 has been a year of continued uncertainty, but also one of recovery, hope, and planning for the future. Property managers in particular, have had to learn how to get more done with less, using technology that’s emerged from the pandemic to grow their businesses.
We’ve adopted that same approach to the content we’ve put out at Buildium, sharing resources that keep property managers in the know and stories that shed light on practical, creative solutions to the challenges we’re facing in the industry.
Here are 10 of the posts that readers have found most valuable—and that can equip you for success in 2023.
#1: How to Start a Property Management Company the Right Way
We started the year off with the basics, a revised look at how to start a property management company. From finances to marketing, the guide walks you through each step of setting up your business, with special attention to what property managers in 2022 need to succeed today, in an industry that’s gone through some major changes in just the past few years. There are pro tips here that even established property managers can use, like sourcing your ideal team and fine-tuning operations to support a distinctive resident experience.
#2: The 2023 Property Management Industry Report
Every year, Buildium partners with the National Association of Residential Property Managers (NARPM) on the industry’s go-to source for property management research, the State of the Property Management Industry Report. This year’s report pulls from the feedback and experiences of thousands of property managers, owners, and residents to deliver you all the insights you need to know. It’s perfect if you’re looking for either a bird’s eye view of what’s to come or specific ways in which you can grow.
Bonus: If you’re looking for a taste of what you’ll find in the report, we’ve collected some of the most pertinent trends in these blog posts:
- Research: Property management industry trends you should know heading into 2023
- New research on why two-thirds of single-family renters are considering moving out in 2022 & 2023
#3: Meet the Buildium Marketplace
In the second half of this year, we officially launched Marketplace, an ecosystem of distinct software and tools that property managers can select to build out their tech solutions. Our list of partners in Marketplace is always growing, and each solution fully integrates with Buildium, so you can start using the new tech quickly. And that’s exactly what some property management companies are doing. Here’s a video on some of the early successes they’ve scored by working with Marketplace partners:
You can also hear directly from two of our earliest partners in this Meet the Marketplace interview.
#4: The Science of Growing Your Portfolio
In our latest Industry Report, we found that 92% of third–party property managers are planning on portfolio growth over the next two years, and we’ve published several resources in 2022 to help them get the job done. One of our most detailed guides, The Science of Growing Your Portfolio, breaks down what it takes to bring in more doors, from tweaking specific processes to knowing just where to look for leads.
Bonus: For larger property management companies, we’ve also brought together some customers that have recently found success in our post on Engineering Your Next Growth Phase.
#5: Getting More Done With Less
Sometimes growth means more than adding new properties to your portfolio. Over the past year property managers have had to find new, creative ways to turn a profit. We take an in-depth look at that topic in our guide, Generate More Revenue—Without Adding New Doors. The guide reveals the types of investments that can get you the most value in light of the current constraints we’re facing as an industry. In a related interview, a successful property management company’s VP of operations shared how to select the right tech to maximize ROI.
#6: The Definitive Guide to Property Management Accounting
Turning the page on 2022 also means flipping through your books and prepping for tax season. It’s a time when good accounting habits pay off. Even though it’s not always the most exciting part of the business, bookkeeping the right way can save you time and money year round. For the first time, we gathered all our accounting resources in one place, a post called Property Management Accounting: The Definitive Guide. Take a look to find everything you need to know on the subject, complete with links to more specific walkthroughs of each part of the accounting process.
#7: How the Inflation Reduction Act Will Affect Property Managers
In August, President Biden signed the Inflation Reduction Act (IRA) into law. The IRA is a far-reaching piece of legislation, but we’ve sifted through it to find the parts that are essential knowledge to property managers. In How the Inflation Reduction Act Will Affect Property Managers, you’ll learn about the effects the law will have on your business and new opportunities for rebates and credits you can take advantage of.
#8: How to Navigate the American Housing Crisis in 2022
We’ve all been affected by recent changes in the housing market in one way or another. Factor in labor shortages, supply chain disruptions, and inflation across the wider economy, and it gets difficult to plan for the coming months. In How to Navigate the American Housing Crisis in 2022 we clarify what’s causing current conditions in the industry and how you can protect your business, so you can do more than just “expect the unexpected.” The post covers real strategies to adapt and ways to distinguish your business from the competition.
#9: Attracting and Retaining Owners
This is a two-for-one. Expanding from the research we’ve done in our annual Industry Report and surveys we conduct throughout the year, we’ve put together in-depth guides to finding and attracting your ideal clients in areas with the most potential for growth. Check out The Property Manager’s Guide to Attracting & Retaining Small-Portfolio Investors to learn what smaller investors are prioritizing, need help with, and are looking for in a property management partner. We surveyed hundreds of these owners to get their first-hand feedback.
Our companion report, The Property Manager’s Guide to Attracting & Retaining Accidental Landlords paints a clear picture of how these owners have changed over the past few years, what their goals are now, and how you can win their business.
#10: Leasing Technology Playbook
Technology has shaken up all kinds of consumer expectations during the pandemic, including the experience of renting a home. Our Leasing Technology Playbook breaks down each stage of the leasing experience to pinpoint which software and tools are actually making a difference. You’ll discover which ways to make leasing easier for your team and seamless for renters. These strategies can help you to both attract your ideal applicants and keep them as long-term, loyal residents.
And that’s it! These 10 (ok, a bit more than 10) posts have already helped readers find revenue, value, and inspiration in unexpected places in 2022, and we hope they do the same for you in the new year. Of course, we’re not going anywhere, so stay tuned for more content in 2023!Read more on Industry Intel