Property Management Panel: Recording & Key Takeaways
Thank you to everyone who joined us for our Property Management Panel! This engaging discussion brought together industry experts to explore today’s challenges, opportunities, and best practices in property management. Whether you were in the room with us or couldn’t attend, we are excited to share the full recording, transcript, and key takeaways with you.
Watch the Recording
Property Management Panel by Longleaf Pine REALTORS®Panel Summary
The Property Management Panel brought together experienced property managers to discuss best practices, challenges, and solutions in the field. Topics included onboarding documentation, inspections, marketing strategies, handling showings, fraud prevention, legal compliance, service and emotional support animals, tenant and owner communication, and practical business operations. The panelists shared real-world experiences, answered audience questions, and provided actionable advice for both new and seasoned property managers.
Transcript
Tip: Use “Find” (Ctrl+F) to jump to keywords or topics within the transcript.
Key Takeaways
- Documentation & Onboarding:
- Use clear, detailed forms for onboarding owners and tenants.
- Provide documentation like the “site unseen addendum” and “normal wear and tear” guides to set expectations.
- Inspections:
- Conduct thorough move-in, periodic, and move-out inspections.
- Document everything with photos and written reports.
- Communicate inspection results to owners promptly.
- Marketing & Advertising:
- List rentals on MLS for visibility and comparables.
- Avoid advertising on Craigslist and Facebook Marketplace due to the prevalence of scams.
- Use company or personal business Facebook pages for legitimate advertising.
- Place clear signage at properties to deter scammers.
- Showings:
- Self-service lockboxes and systems, such as Tenant Turner or Code Box, streamline the process and reduce staffing needs.
- Pre-screen tenants before providing access.
- For occupied properties, coordinate showings carefully or wait until the property is vacant.
- Fraud Prevention:
- Be vigilant about application fraud and identity theft.
- Utilize tools such as phone verification apps and pet screening services.
- Keep thorough records and verify all documentation.
- Legal & Risk Management:
- Carry proper insurance (E&O, general liability).
- Follow fair housing laws, particularly those related to service and emotional support animals.
- Utilize third-party pet screening to maintain compliance and minimize liability.
- If an owner asks for unethical actions, it’s better to terminate the management agreement.
- Tenant & Owner Communication:
- Maintain regular, written communication with owners and tenants.
- Set clear expectations about timelines, repairs, and responsibilities.
- Document all interactions and decisions.
- Business Practices:
- Require tenants to carry renter’s insurance and provide proof.
- Address subletting, lawn care, pest control, and septic system maintenance in leases.
- Adapt policies to fit different properties and owner preferences.
- Professional Development:
- Attend industry events and join professional organizations to network and stay educated.
- Stay updated on state and local regulations.
- Audience Q&A:
- Addressed practical questions about forms, insurance, showings, service animals, lease clauses, and more.
- Emphasized the importance of written policies and flexibility in business practices.
The panel highlighted the importance of professionalism, documentation, communication, and adaptability in property management. Leveraging technology, staying compliant with laws, and building strong relationships with owners and tenants are key to success.
Meet the Panelists
Phillip Johnson – President, T.E. Johnson & Sons
Phillip Johnson is the President of T.E. Johnson & Sons, a property management company based in Winston-Salem, North Carolina. He is a licensed broker with over two decades of experience in real estate, having joined T.E. Johnson & Sons in 2006.
April Martinez – Broker in Charge, Cresfund Property Management
April Martinez is the Broker in Charge at Cresfund Property Management, a leading property management company serving Fayetteville, NC, and nearby areas. She oversees residential and multifamily property management, ensuring high-quality service and dedicated support for both property owners and tenants.
Jane Kennedy – Broker in Charge, Kennedy REALTORS®, Inc.
Jane Kennedy is a real estate broker based in Fayetteville, North Carolina, working with Kennedy REALTORS®. She has over 33 years of experience in the real estate industry, specializing in areas such as buyer representation, listing, relocation, foreclosure, and property management. Jane is known for helping families relocate to Fayetteville and the nearby Ft. Bragg area, and her family has been involved in North Carolina real estate for more than 60 years.
Alex Townsend – Vice President, Townsend Real Estate
Alex Townsend is the Broker-in-Charge of the Townsend Rental Department and Vice President of Townsend Real Estate and Townsend Commercial in Fayetteville, NC. He joined the family business after earning a B.S. in Industrial Distribution and Logistics with a minor in Business from East Carolina University. Alex brings over fourteen years of property management experience, emphasizing communication and customer satisfaction as keys to success in real estate.
Resources & References
Here are links and resources mentioned during the discussion:
- Property Management Forms
- Self-showing services for property managers offer technology, such as digital lockboxes and scheduling software, that enable prospective tenants to tour vacant properties without the manager’s presence. This benefits managers by saving time and money, increasing showings, and expanding leasing hours to weekends and evenings. Popular service providers include Rently, Tenant Turner, and ShowMojo, which often integrate with property management software like Buildium and Rent Manager.
- NCR Legal Hotline
Thank you!
A special thank-you to our panelists for sharing their expertise and to all attendees for participating. At Longleaf Pine REALTORS®, we remain committed to providing members with the tools and resources needed to excel in every facet of real estate.