184: Stop Unit Churn By Selling To Other Owners - Meet Blanket
Welcome Closers!
In this episode of Profitable Property Management, Jordan talks to Lior Abramovitch from Blanket Homes about their new technology to help property managers combat churn and retain properties in their portfolios.
Topics and Guests
Guest: Lior Abramovitch, founder of Blanket Homes
Topics discussed:
The problem of churn in property management and losing revenue from properties leaving the portfolio
Why property managers often don't capture sales even though they have broker licenses
How Blanket's platform enables internal sales within a property manager's portfolio to retain properties
Key features of Blanket's platform: marketplace, investor dashboard, data integrations
Benefits to property managers including increased revenue, visibility into portfolio performance, automated communications to owners
Operational details on how Blanket's brokerage services work with or without the property manager's involvement
Macroeconomic trends in real estate and opportunities for property managers
Lior's background in real estate investing and technology
Links and Resources:
Blanket Homes website - https://www.blankethomes.com
The Profitable Property Management Podcast - www.profitablepropertymanagement.com
Key Moments:
Many property managers experience churn rates of 30-35% annually, representing huge revenue loss (2:35)
Biggest driver of churn is owners selling properties, but most property managers don't capture those sales (3:17)
Blanket's platform enables internal sales so properties stay in the PM's portfolio (7:02)
Main benefit to PMs is retaining properties to grow their portfolio and revenue (14:21)
Blanket handles communications to owners like emails about sales opportunities (12:51)
PMs can choose their level of involvement: Blanket can represent transactions or PM can be the broker (15:15)
Now is a challenging but opportunistic time for real estate investors and property managers (27:23)
