Unfiltered by PropertyManagement.com
00:28:34 · Dylan Scroggins, Josh Sterling
[00:28:34] S1: Yeah. I love that. Because a lot of people talk about even the job descriptions that I'm doing on the recruiting side, they talk about a KPI being like turnover speed where you're kinda like, hey. Let's not focus on turnover speed. Let's just focus on never having a turnover. Then we don't have to worry about the speed. [00:28:50] S0: That's Yeah. You know, people are gonna move for life events. Right? That's gonna have a job change, divorce, marriage, whatever. Right? But but if we can minimize that, and and I think our data speaks to that. You know? It's just we're doing things that our competitors don't do. [00:29:02] S1: Yeah. I love that. I had... We had a Steven Glover on recently out of Peak PropertyManagement in Virginia, and he mentioned almost the same thing you mentioned about the details even in what your team wears to the site of having, like, nice branded... It sounds like y'all have some wraps. I'm sure they have it as well. But, that just gives this feeling of, hey. I'm being taken care of. And you do see it a lot in multifamily, but you don't see it as much in single family. And those little things are just massive signals, whether it's pest control, home services, whatever, that professionalism resonates and just has a strong first impression.
00:29:02 · Dylan Scroggins, Josh Sterling
[00:29:02] S1: Yeah. I love that. I had... We had a Steven Glover on recently out of Peak PropertyManagement in Virginia, and he mentioned almost the same thing you mentioned about the details even in what your team wears to the site of having, like, nice branded... It sounds like y'all have some wraps. I'm sure they have it as well. But, that just gives this feeling of, hey. I'm being taken care of. And you do see it a lot in multifamily, but you don't see it as much in single family. And those little things are just massive signals, whether it's pest control, home services, whatever, that professionalism resonates and just has a strong first impression. [00:29:38] S0: Right. So if you're in an apartment or a house that is beautiful, it's got granite and stainless, it's as nice as anything you could ever find, nicer than anything in the market, your rent's fair, and your management team is the utmost professionalism, you're not gonna move unless you have and that's our goal. And the competition that we're up against, they're closing at 04:30 on a Friday and not to answer the phone again till Monday, and they show up in a rusted up pickup truck with a dude who's two Bud Lights deep and a plumber's crack trying to fix your sink. It just doesn't work. So we're getting out out of that stereotypical small operator, even though we're operating properties that are typically, you know, accustomed to that type of operator. I think that's really the difference.
00:29:38 · Josh Sterling, Dylan Scroggins
[00:29:38] S0: Right. So if you're in an apartment or a house that is beautiful, it's got granite and stainless, it's as nice as anything you could ever find, nicer than anything in the market, your rent's fair, and your management team is the utmost professionalism, you're not gonna move unless you have and that's our goal. And the competition that we're up against, they're closing at 04:30 on a Friday and not to answer the phone again till Monday, and they show up in a rusted up pickup truck with a dude who's two Bud Lights deep and a plumber's crack trying to fix your sink. It just doesn't work. So we're getting out out of that stereotypical small operator, even though we're operating properties that are typically, you know, accustomed to that type of operator. I think that's really the difference. [00:30:16] S1: Well, it goes back to a common theme of property management business model and just a software as a service business model are so similar. Is that once you get those customers, you just wanna keep them because churn is what kills you. Yes. And even if the client acquisition cost is higher, get the customer and just keep them forever.
00:30:16 · Dylan Scroggins, Josh Sterling
[00:30:16] S1: Well, it goes back to a common theme of property management business model and just a software as a service business model are so similar. Is that once you get those customers, you just wanna keep them because churn is what kills you. Yes. And even if the client acquisition cost is higher, get the customer and just keep them forever. [00:30:33] S0: And, you know, for our model and if, you know, if if I had to go pitch this to an owner, right, what I would tell them is, look, I'm my primary client, so you're bringing your property on here at Epic, it's treated as if it was our own. We don't have a differentiator in our systems for for our own wholly owned units. Yeah. And our goal is to make money with the property. So this is how you do it. You have the most professional management. We minimize that turnover. And if we do have one, we're tracking efficiency of that turn and and the speed at which we can do it. Right? So we... That's how every owner gets treated because that's how we treat our own properties. [00:31:03] S1: They love that too. This has been awesome. I thought we should talk for about another forty five minutes here, but let's start landing the plane here just a little bit. In regards to just the industry as a whole, we've already touched on AI. Is there anything else that you feel like people should be paying attention to that may or may not be getting blasted on LinkedIn right now?
00:31:03 · Dylan Scroggins, Josh Sterling
[00:31:03] S1: They love that too. This has been awesome. I thought we should talk for about another forty five minutes here, but let's start landing the plane here just a little bit. In regards to just the industry as a whole, we've already touched on AI. Is there anything else that you feel like people should be paying attention to that may or may not be getting blasted on LinkedIn right now? [00:31:21] S0: Yeah. I mean, it's not it's not a sexy industry. You know? So to me, efficiency. Right? Like, that is the key to your operation. Whether that's efficiency that I don't lose track of where a a maintenance process or a a turnover process is or or whether that's efficiency into, you know, minimizing the the expense side of the equation for whatever. I I think that's... Doesn't get enough attention in the industry. And even though automation's gonna save a lot of that, I I think that's that's the key to success here.
00:31:21 · Josh Sterling, Dylan Scroggins
[00:31:21] S0: Yeah. I mean, it's not it's not a sexy industry. You know? So to me, efficiency. Right? Like, that is the key to your operation. Whether that's efficiency that I don't lose track of where a a maintenance process or a a turnover process is or or whether that's efficiency into, you know, minimizing the the expense side of the equation for whatever. I I think that's... Doesn't get enough attention in the industry. And even though automation's gonna save a lot of that, I I think that's that's the key to success here. [00:31:52] S1: Love that. Yeah. It's not just about door count. We gotta get away from just asking, what's your door count? What's your door count? What's your door count? Like, it really doesn't matter. There's a lot of really happy and wealthy people at 500 doors and a lot of miserable, just burned out, straggling people at 2,500. Right? Like, door count just does not matter. I mean, it does, but it doesn't. Right. You've been in the game a while, so I think you'll have a really good response to this question. This is something we ask everybody. It's more of a personal note. Alright. It's been close to twenty years now. In some form or fashion, you've been in property management. How has being in property management changed you as a person?