16 Ways to Compete with Big Property Management Firms

June 14, 2023

How to Thrive up Against Big Companies

Today, it’s time to look closer at how small to mid-sized property management firms can compete in the rental property management sector.

It is vital that you keep up on the latest developments in the property management marketplace along with the practices and technology that the market leaders are using. That advantage, or the appearance of it does shape landlords’ perspectives and decisions.

SaaS Software Technology for Property Managers

Software as a Service

Using PropTech software such as ManageCasa, small to mid-sized firms can grow their services, efficiency and profitability. Managers and landlords both, want larger profit margins and better service levels.

PropTech in fact, (via SaaS) can improve your cost efficiencies up to the enterprise level. Those huge national firms have already integrated it, so they’re finding it tough to stay ahead of smaller regional firms who are upgrading their software and looking powerful.

Your Website Makes You Look Powerful

Given the Internet’s incredible reach, small firms can appear to be large firms. In fact, on their property management websites, you’ll see they’ve gone far to communicate their financial resources, superior market knowledge, and corporate strengths. They’re using storytelling, interviews, case studies, and market data to create a compelling value proposition. This is where you can do exactly the same.

Your Website is essential to communicating a business advantage up against large firms with a brand advantage.

The Amazing Value a Good Property Management Software Delivers

For your company, a well-designed platform that streamlines what it can in administration, provides instant private communications, decrease operations costs, and gives tenants the digital experience they demand, is a big upgrade to your business.

And regardless of the streamlined business value, small property managers retain a closer connection to tenants, while big firms find small landlords and single tenants much less profitable.

For SMB’s, PropTech solutions deliver significant benefits and are the path to capturing new and better landlord leads.

What Does Manage Smarter Mean Anyway?

In general, big companies have an advantage because of:

efficient, high-capacity digital management systems
staff have more time
have specialist skills
management has much more money, has lower financing costs, overcomes any cost events, and can focus funds where needed
better marketing and lead generation which makes landlords believe they’re getting better value

Given the financing, marketing, staffing, and even pricing advantages big firms leverage, small property management companies need to look into their own business model and figure out opportunities.

Keep in mind that big companies have unsolvable challenges of their own in a changing marketplace.

If they’re grabbing up marketshare, winning clients, and increasing profitability, it’s important for you to discover what they’re doing to achieve it. As it turns out, you can systematically erode their advantage, and build strengths against their weaknesses (property management branding).

Masters or PhDs Not Needed

You don’t need to be a Harvard business grad to build a competitive edge. In fact, today’s SaaS software platforms provide a wonderful service management solution that helps you do everything expertly and efficiently. The skill is built into the software.

Your tenants see the same professionalism, messages and results that big companies deliver.

The big secret is that SaaS software technology is what big companies use to get their advantage. They adopt technology willingly. You could open up to this same solution.

ManageCasa™ as an example, helps you complete tasks with little expertise. And it gives you great insights into property performance, cost issues, trends, resolutions, maintenance work, and more.

Why Are Small Businesses Not Faring Well Enough?

A quick look at the dark side (CBInsights Findings) shows some typical reasons why SMBs experience difficulty.

The first two factors about cash running out and no market need are likely not relevant to you. The third and fourth factors are likely the keys: getting outcompeted and a flawed business model.

If you’re not marketing hard and doing business development (a two-pronged effort), then your competitors are simply owning the market and won’t let you in. A poor business model means you’re not monetizing your business well. That means you’re relying too much on rent revenue and have failed to develop new revenue sources, and creating a rental experience that more renters will willingly pay for. (read more on business models and how to strategize more profit).

Screenshot courtesy of cbinsights.com/research/startup-failure-reasons-top/

16 Powerful Ways to Compete with Bigger Companies

Learn these 16 ways you can elevate your services and compete harder:

capture service niches (e.g., accounting, maintenance, home renovations, inspections, marketing/advertising, rent collection, evictions, etc.)
focus on niche properties (multi-unit houses, single detached, apartments, high rises, mixed retail)
focus on geographic regions in your marketing strategy (districts within a city where you can respond quicker and prioritize)
develop a unique brand and promote it strongly (uniquely local but with big brand appeal, and owners become aware of your company)
more personal, human service to tenants (building lifestyle comfort and tenants build a connection with the same service pro/CSR)
give your services a brand name (so owners understand the value better)
focus your content marketing (blogs, videos, social posts on specific topics and show expertise/authority)
introduce specific staff and highlight their competency (good hiring practices, expertise, transparency/credibility boost)
give your website some panache and make the style resonate with your target audience (big corporations can’t do that)
mission statement (show purpose and that your company is here to stay)
create professionally-designed downloadable pdfs (client case study to demonstrate and validate your firm)
boast about your property management software platform (which lets you innovate, scale, communicate, manage the books, and help keep tenants leased)
present your president/owner as a likable, relatable but still professional person they’d like as a friend (the corporate CEO is stuffy and unapproachable)
connect with owners via Linkedin (professional connections where you can post content that interests them)
highlight efficiency, licenses, special skills, experience, and experiences (corporations will never do that with their employees)
network with renters, owners, and other pros on social (local connections build strength in local business community, accesses opportunities, and show a personal interest in them and complement their successes, since large corporations won’t do that)

Local, nimble, responsive, engaging, personable, and helpful almost to a fault, small businesses satisfy emotional needs better which can build more loyal relationships that keep owners and tenants in place.

Automation and Service Integration

Service automation is important today and your technology provides that.

The top small property manager decision is to use a software such as ManageCasa™ and let it educate you, train you, grow your confidence, and create even better service provision and capabilities.

This unique, next-generation platform is a foundation that guides you to learn, understand, respond effectively on service, make better decisions and control costs.

Key Activities of progressive, entrepreneurial managers include:

taking on more properties to grow revenue
focus more on current clients to help them grow profit and improve asset value
focus more on current client’s maintenance and asset management
reduce costs, go more virtual to increase engagement with tenants and present a better brand of service in their eyes
improve staff performance and enjoyment of their work
reduce tedious, redundant, repetitive work to allow staff to focus on more important and increasing their competence and skills
focus more on marketing and lead generation
automate accounting, rent, routine communications and tenant rent payments to free up significant time and control staffing costs

Each landlord and property manager has different challenges ahead in 2023/2024.

When you look deeper into ManageCasa’s many specialized and powerful features, you’ll see how it can easily resolve them. From accounting automation to tenant self-service to monitoring expenses and cash flow, ManageCasa keeps you on top, effortlessly.

Why would you prefer ManageCasa™? Let’s take the top 5 reasons to start:

affordable software – the low price per rental unit account makes it less costly than competitive offerings
all in one management solution — with an integrated suite of services managed simply from your main dashboard
powerful accounting — manage your property accounts with a dedicated all in one software (not a general purpose accounting package)
automated payment system — tenants save time using popular payment systems and bank account integration
scalability – using this powerful SaaS platform, property managers can easily scale up to serve more landlords
grow services — build revenue and impress landlords with additional services that add value

Software Magnifies your Staff’s Talent and Capability

Small business people might not fully appreciate what many young tech entrepreneurs are obsessing over — that software erodes big business advantages. Software is how they gained that advantage and your adoption of ManageCasa removes that advantage.

In truth, many of these big companies are overstaffed with less skilled people, have higher cost profiles, less time to solve specific landlord issues, and adjust to additional small landlord accounts. Your small company have some amazingly talented people already and you can hack your way to growth.

Keys to Success in Property Management Business

We discuss this a great deal on ManageCasa blog. Here’s just a few helpful posts covering essential topics where you’d be wise to focus your time in 2024:

Questions are golden. If anything is stopping you from sustaining your property management company, and growing profit, find out what that is.

Let nothing stop you from achieving the success you envisioned. You were right to build a company in this lucrative and sustainable industry. Let ManageCasa™ be your foundation of success.

Try a 14 Day Trial of ManageCasa.

Thanks for your subscription!

You have been added to the ManageCasa mailing list.

Property Management

We’d love to connect with you. Let’s share our property management stories, links, and experiences.

Join us on Facebook!

Try ManageCasa Property Management Software for free!

Create a Free Account

Article Categories