Insights from NARPM Owner/Broker 2025

1922076 • April 14, 2025

What's on the Horizon for Property Management

I recently returned from the NARPM (National Association of Residential Property Managers) Annual Owner and Broker Conference. This conference provides a unique opportunity to learn from and interact with some of the brightest minds within the residential property management space, and like past conferences, this one provided a lot of exceptional content.


The two prevailing themes within the conference were 1) AI is among us, and 2) the need to adjust business philosophies away from the old model of property management towards a new model of asset management.


The AI craze really has swept both economies and cultures, and as within other industries, the lurking question within the world of property management was/is will AI replace the need for property managers? The prevailing answer to that question is no. The creation of HAL (re: Stanley Kubrick's film "2001: A Space Odyssey") isn't on the horizon. BUT while AI may not be ready to take the place of property management companies, those within the industry who are ready and willing to use AI are going to capture an advantage over other property management offices.


I spoke with several vendors at the conference working within the AI space, and based upon those conversations, I believe there are currently two places where implementing AI in a property management office makes sense. First, AI is very good at crawling the internet for data in response to questions. This places AI in a great position to field those early-stage questions that a potential renter will have. Questions like: How do I apply? What are the lease terms? Does the home accept pets? Is the home in an HOA? AI can answer these questions very well, and it can do so instantaneously, 24 hours a day.


The second thing that AI is presently good at is responsive activities where appropriate decision trees and data bases are available for the AI to draw upon. I do want to stress here, though, the necessity for well thought out decision trees and data bases; absent these items, AI can't magic responses into existence. But if these support pieces are in place, AI can schedule appointments, and perhaps more interestingly, AI can assist with troubleshooting, scheduling, and following-up on maintenance.


The big take away is that AI, though limited in its application, is positioned to be a great tool for offloading some of the more repetitive and high-volume tasks within a property management office, which will enhance process efficiencies.


The other prevalent idea I encountered within the conference is the reshaping of how the industry perceives itself and perhaps in turn how some landlords perceive themselves. The mood is shifting away from the model of cash flow, cash flow, cash flow, towards a model of assisting owners with thoughtful development of their portfolio through extended time in the market that will lead to wealth, growth, and legacy. The cash flow model centers performance exclusively around the question: "is the home cash positive?" The updated model of what it means to be a property management company doesn't exclude this metric but additionally gives proper consideration to other important elements including the equity, tax advantages, and leverage potential of a home. Through this more wholistic lens, property managers may be able to assist owners with asset growth over a lifetime.


We're amid exciting times within the property management industry. I'm looking forward to the many ways in which our office can bring to bear several of the ideas I encountered at this year's conference to continue to provide you with the best in property management services. Here's to 2025 that I hope is full of opportunity and growth for all of you!

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Navigating the Rapids

By David Seevers • May 27, 2020
Once upon a time I enjoyed white-water rafting. For a string of several years I paddled down various rivers in the south and north-east U.S. And to this day I can say that some of the biggest thrills I've enjoyed have come from my time on some truly crazy rivers. I also live in a small town with a fairly robust river community. Water is a big part of the Greater Pensacola area, and I've had the pleasure of many leisurely trips down the placid Blackwater river. Many a peaceful and relaxing day have been had either casually paddling a canoe or drifting down the river in an inner tube. The two are night and day from each other. You'd never paddle white-water without preparation and the help of experts. Meanwhile, the biggest concern you'll ever have on the Blackwater is whether you've brought enough drinks and snacks. The former requires a professional to help you traverse. The later can be done by anyone. Property management is a lot like a combination of white-water rafting and leisurely river trips. You'll find elements of both. And as technology advances and provides landlords greater and greater access to platforms and tools that were perviously only available to property managers and real estate agents, many of the aspects of property management that were previously only possible with the help of a professional have now become easily accessible to any landlord with a computer and an email address. As such, the perception of property management drifts further towards one where managing a rental home is just like an easy trip down the Blackwater. And then you have moments like our current crisis. The world flips upside down, and everything you thought you knew suddenly and dramatically changes, and now you're in the midst of some nasty Class III and IV rapids. The path you take now matters, and what you need is the help of someone who can expertly guide the boat. Obviously, hopefully, the crisis that has been brought to us by Covid-19 won't last forever. Further, we can take comfort in knowing that we're unlikely to experience such nationally impacting events every year. But even on the individual level, disasters strike. What do you do when a tenant doesn't pay rent? What process do you take when your home isn't being cared for properly? How do you handle a situation where the lease has expired but the tenant won't leave? These and various other situations happen all the time. As a landlord, you don't need a property manager to find a tenant for you; Zillow can do that. You don't need a property manager to collect rent; there are ample financial platforms that can allow you to do that electronically. Technology can provide you digital access to your home making regular inspections easier and without the aid of a property manager. So much of the necessary work of owning rentals is becoming easier and easier to achieve. But these things have never, and never will be, the real reason to have an expert in your pocket. The true value of a property manager is the skill they provide in navigating the big moments, the unknowns, and the surprises. The right property manager sees the possible hazards ahead and puts in place the plans and procedures that help you avoid those hazards. And when you're in the thick of the kinds of rapids that can flip your boat, a good property manager will get you through.
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