# Shannon Hurlman

Sales Manager - Second Nature

### Property Management Strategies to Grow Your Business Without Burning Out

Are you tired of the challenges that come with managing properties? From dealing with difficult residents to handling maintenance issues, property management can often feel like an endless list of responsibilities instead of a strategic small business venture. Fear not! In this article, we’ll unveil a range of effective property management strategies to alleviate your property management woes and empower you to achieve smooth operations and maximize returns. Get ready to discover practical tips and proven techniques that will revolutionize the way you approach property management. Here are the top 15 property management growth strategies to expand your business without burning out. Say goodbye to stress and hello to efficient, hassle-free property management.

1. **Set core values**  
   In the renowned book *The 7 Habits of Highly Effective People*, Dr. Stephen Covey outlines the second habit as: "Begin with the end in mind." When building property management strategies, setting core values is the absolute foundation for everything else. We’ve spoken with hundreds of property management leaders, and all of them have reflected: Get your values right from the start. Your goals and growth come from that foundation. Kevin Hommel, COO of Memphis Turnkey Properties, puts it this way: "Anyone who encounters or interacts with your business needs to be able to feel your core values coming through when they meet with you, when they explore your company online, or if they talk to somebody else about you. You have to have your core values right there."

2. **Know your priorities**  
   The next step after outlining your values is to identify and document your priorities. For many of us, articulating core values or taking time to nail down priorities can feel like an important thing we’ll never get around to. The urgent tasks of managing a property portfolio often get in the way of important big-picture work. Many property managers find their teams spread too thin over too many tasks and responsibilities that really don’t impact their company’s bottom line.

3. **Get the right people on board**  
   To grow property management without burning out, it’s imperative that you get the right people on your team. The reason staffing makes such a difference goes beyond just having more hands. Your team answers the question "Who, not how" – another principle from Dr. Hardy in his book of the same name. Peter Lohmann, Co-founder & CEO of RL Property Management, explained this concept in conversation with Dr. Hardy on the Triple Win Podcast: "The concept from the book Who Not How is that you need to stop thinking about ‘HOW can I do this,’ which is kind of our default framework for clients coming to us with a problem. They’re thinking, ‘How can I get this done?’ But as a property manager, you need to reframe that and ask yourself, ‘WHO can help me with this? Who’s the expert?’"

4. **Hire based on culture fit**  
   Onboarding the right people brings us back to our first tip: Find people who embrace your core values. Hommel says he focuses on hiring motivated people who buy into what he’s trying to achieve – rather than people who necessarily have all the property management experience.

5. **Build strategies with your team**  
   One of the best solutions for burnout is simply ensuring that you and your team are on the same page. Assuming you’ve hired people who are a culture fit, who get what you’re trying to do, and who think creatively and resiliently – they should be involved in building your business strategies, too.

6. **Find your property management niche**  
   Setting the right priorities also means focusing on what you’re best at. Being 'all things to all real estate investors' may help you add a new property in the short term, but you risk slowed growth and burnout.

7. **Create more value & charge accordingly**  
   Finding your niche and saying no to properties may seem counterintuitive. So does our next tip: When you start finding ways to add more value, charge for what it’s worth.

8. **Don’t be afraid to “fire” a client**  
   This is a question we see all the time. When you have a frustrating investor, do you just deal with it or cut them loose? While there are all kinds of nuances to that question, the long and short of it is that you can’t be afraid to get rid of a client.

9. **Develop an excellent marketing strategy**  
   To develop the right marketing plan, you must apply all the skills we’ve discussed here.

10. **Use digital tools & AI solutions**  
   AI property management is growing and we have software tools that can make work so much easier for our teams.

11. **Build SEO & social media strategies**  
   SEO and social media marketing are both strategies to grow your business without daily updating.

12. **Network with peers**  
   Networking is one of the best ways to grow your brand and your business – and for many, it’s fun!

13. **Stay familiar with local businesses and listings**  
   To grow without burning out, it’s critical for your property management company to have a good reputation in your community, and to be visible.

14. **Improve current properties**  
   This might not seem like a growth strategy, but improving your current properties can do a world of good for your property management company’s reputation.

15. **Invest in resident experience**  
   Ultimately, growing your property management business without burning out your team is about providing winning experiences for residents.