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In this episode of the "Pay or Quit" podcast, hosts Tony Cline and Shawn Johnson dive deep into the world of property management. The episode kicks off with a discussion on the critical importance of timing when introducing value-associated fees in property management, setting the stage for a broader conversation about industry practices.
After warmly welcoming listeners and sharing their excitement for the episode, Tony and Shawn introduce the main topics: the impact of fee maxing on the property management industry, the worst kinds of property managers, and their recent book reads. They argue that fee maxing, or the practice of maximizing fees without adequately increasing value, has damaged the industry by pushing landlords and tenants away.
The hosts propose a balanced approach of "value maxing," focusing on increasing the value delivered before raising fees. They share personal stories and business strategies, highlighting practices like tenant home tutorials that add value and justify higher fees.
The episode also features a lively debate on who makes the worst property manager, with the "opportunistic real estate agent" taking the top spot. Additionally, both hosts share their top book recommendations, including titles that provide insights into business strategies, personal growth, and cultural analysis.
The podcast wraps up with teasers for upcoming episodes, promising discussions on topics like triple ties in trademarks and the benefits of real estate investing.
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Blue Ocean Strategy by Chan Kim: https://a.co/d/5GGAus6
Free to Focus by Michael Hyatt: https://a.co/d/eo4sRh6
Black Rednecks & White Liberals by Thomas Sowell: https://a.co/d/50CWXIa
The Dream Manager by Matthew Kelly:
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