Episode Details

Learn how to properly increase your rent-roll without adding new doors - by increasing or adding fees.

You will learn from Darren Hunter his secret to justifying your additional fees by leveraging the law of alternative costs, & how little your clients really care about your competitors, & the power of peace of mind.

You'll Learn

• How to use the Law of Alternative Cost to justify your fees 2:28 
• Property Managers don't charge enough for their hourly rate 5:46 
• Be careful of talking about specific fee amounts with other PMs 7:38 
• Darren has a large list of possible owner & tenant fees 8:04 
• Most money-tight owners tolerate fee increases & those that leave are often your worst! 9:23 
• Myth: Owners will go to the discount agency down the road if you increase your fees 12:47 
• You may be thinking about your competitors, but your clients are not 14:51 
• The power of "Peace of Mind" is incredibly strong 16:31 
• Charging less doesn't motivate owners to leave a property manager if they have peace of mind 17:27 
• Adding value is not necessary, just peace of mind 18:15 
• Basic fees differ wildly based on each property manager's self-belief. 18:49 

Tweetables

C-class owners are like a pack of cigarettes and they'll take years off your life.

Crappy owners generally have crappy properties, which attract crappy tenants.

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