25d • General discussion
The $0 fee that 3x'd our owner referrals
or years we charged owners a "lease-up fee" — 50–100% of first month's rent every time we placed a tenant.
It was textbook industry pricing. Every PM in our market did it.
Then we did the math.
A $2,400 lease-up fee = $2,400 one time.
A retained owner paying $200/mo for 10 years = $24,000.
One referral from that owner = another $24,000.
We were optimizing for the wrong number.
So we killed the lease-up fee. Replaced it with one line:
"No management fee until your unit is rented."
What happened over the next 12 months:
→ Sales calls got 40% shorter (no fee objection to overcome)
→ Close rate jumped from ~30% to ~60%
→ Owner referrals 3x'd
→ LTV per owner climbed because owners stopped switching every 2 years
The lesson: the fee that's easiest to charge is often the fee that's costing you the most.
Question for the community: What's one fee you charge today that you'd kill if you started your PM company over from scratch?
0
0 comments
The $0 fee that 3x'd our owner referrals
powered by
skool.com/the-modern-pm-3507
AI workflows and automations from a Property Manager running 1,000+ doors. Built in the field. Tested on real doors. Free.
Suggested communities
Powered by