The inside on outsourcing
performance. I've found that it drives behavior. It's based on 'what get measured gets managed' and 'what gets rewarded gets repeated,'" she said.
Marketing watch
With owners and developers stuck on the sidelines and looking for ways to protect their bottom line, Portmann is investing in net incremental resources for business development, while others in the industry are divesting.
"Because only 13 or 14 percent of the market is third-party outsourced property management, we think this is the time to invest in business development, leverage our business services and continue to drive the programs that give a property owner and manager the opportunity to maximize NOI and drive occupancy. We think this is, I hate to say it, almost a good thing that's happened to us in our business. Outsourcing becomes a very compelling value proposition when times are tough," she said.
"Today it's all about heads on beds, so our two strategies for our clients are to increase at the property level -- resident retention, of course, because it costs to turn -- and then, increase your marketing because your occupancy is the name of the game. We tell our clients it is the right time to outsource, because you get lower cost. You get the leverage we have already
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