Managing leases on top of all the other responsibilities of property management can be a serious challenge on its own.
But imagine doing it all for leases that need to be paid weekly.
That’s a Tuesday for Olivia Fortune.
Property management comes in all shapes and sizes, but Olivia has mastered her niche in the market: beauty salons. That’s why we’re proud to highlight her as DoorLoop’s property manager of the month.
Every month, we like to take the time to highlight a property manager that embodies DoorLoop’s values and, more importantly, someone who has great advice and can teach our readers to become better in the field.
In this post, we’ll discuss Olivia’s journey in property management and share some of her advice to reach success within the industry.
Olivia began managing properties years ago. She has a salon suite, where beauty professionals rent out rooms from her on 6-month and 12-month leases.
Olivia handles the property management herself through her own company, called Forever Beauty Salon Suites, LLC.
She operates out of Morrow, Georgia, where she manages around 20 units currently.
Experience with DoorLoop
Olivia previously used a different property management software for her business, but it didn’t work for her. She later discovered DoorLoop, which has helped her overcome many obstacles and has made managing the company much easier and more efficient than ever.
Her tenants at the salon suite pay her on a weekly basis, which can be overwhelming and complicated to handle manually. Olivia found this to be much easier to do with DoorLoop.
With DoorLoop, Olivia can keep everything in one place without getting confused or forgetting when payments need to be made. She and her renters can clearly see when payments are due and which ones have yet to be paid, keeping everyone on the same page and the business’s operations running smoothly without any friction.
Beyond the ability to track rent payments, Olivia loves DoorLoop’s customer service. She has no problems getting in touch with the support team. She’s able to get the help she needs quickly, while with other companies it may have taken days to hear back.
On top of that, Olivia feels that our Loopers are real people and very personable. With other companies, she never really knew whom she was talking to. Now she knows her customer support representatives by name and feels heard. She even has enjoyable chats with the team whenever she does need to reach out!
Advice for Property Managers
As an experienced property manager, Olivia has excellent advice for others in the industry. We asked her a few questions to hear and share her insights.
You’re a landlord with a few dozen properties. You’re bogged down with managing everything yourself. What would you do to fix the problem?
For struggling property managers, Olivia recommends two things: a property management software and standard operating procedures (SOPs).
She recommends implementing SOPs in a way that allows you to teach others how to manage the properties so that you aren’t doing it all alone.
What advice would you give to a seasoned rental property investor who wants to do better?
For the seasoned rental property investor, Olivia suggests having systems in place that benefit not only you but also any of the people on your team.
Even if there’s a system that works for you, it’s important to make sure everyone else in your business is able to use it with ease. It should be something simple, accessible, and easy to learn.
What property management advice would you give to new landlords who are just starting out?
Olivia heavily emphasizes that people new to property management should do their research.
New landlords should thoroughly analyze the reviews of companies they look into, and they should reach out to customer service representatives for guidance and to understand what they have to offer. They should also obtain multiple quotes.
This goes for all things, especially property management software.
What is something you feel landlords get wrong about property management?
Olivia feels that organization is where many landlords and property managers tend to fall short. It can be challenging to keep a solid, documented record of everything happening in your business.
To that, Olivia expresses her appreciation of DoorLoop, which has helped her keep track of it all.
She says landlords and property managers should have a similar system in place so that things that happened six months ago, or even a year ago, aren’t confusing. It should all be easy to decipher, no matter how much time has passed or how many units or properties you manage.
What is your #1 most important tip for landlords, whether new or seasoned?
Olivia’s best tip for new and seasoned landlords and property managers alike is to stay up to date with trends in the industry. You shouldn’t get too comfortable with what you’re currently doing.
Instead, you should constantly keep an open mind to see how you can improve your business and make your job and life easier as an owner.
Olivia has taken great initiative in her career to see what companies, technology, and other resources in the real estate industry have to offer. In doing so, she has grown a strong property management business within the beauty sector.
She encourages others to keep a similarly open mind to stay current and be successful, whether you’re a new or seasoned landlord or property manager. Each step of the way, you should also keep the needs and preferences of your team in mind.
If you want to check out Olivia’s business, you can follow Forever Beauty Salon Suites, LLC on Instagram here.
DoorLoop also has tons of content to help you get started on building your portfolio, so don’t be a stranger; check out more reading material, like this beginner’s guide!