What if you could manage 360+ units with no W2 employees??That’s exactly what Matt Luke is doing in Sioux Falls. In this episode, we break down his lean, AI-powered property management model - from AI leasing agent “Serena” to AI maintenance coordinator “Max,” automated workflows in AppFolio and LeadSimple, and a vendor-first partnership strategy that keeps his margins high.00:00 - Intro02:19 - Matt’s backstory04:42 - “No employees” explained06:35 - Pre-leasing playbook09:35 - The lean tech stack13:23 - AI leasing agent ‘Serena’15:36 - AI maintenance agent ‘Max’18:00 - Sponsor - Crane23:08 - Owner comms automation26:29 - Accounting without a bookkeeper28:53 - Application screening workflow30:43 - Process philosophy34:02 - AI tools that fell short38:09 - Margins & unit economics40:38 - Delinquency & evictions45:53 - The vendor partnership model50:46 - Touchless move-in52:58 - Inspections at scale55:05 - From property manager to wealth advisor01:03:06 - Pricing, adoption & upsell ideas01:05:42 - Wrap-upWe dig into how he pre-leases units 90 days out, runs daily bank recs without a bookkeeper, automates owner communication, and keeps friction out of the system (his word, not mine).But here’s the part that really stood out: Matt doesn’t just do property management. He positions himself as a wealth advisor, moving owners from day-to-day oversight into true asset management.Learn more and connect with Matt here: Luke PropertiesLuke Properties on LinkedInLearn more & connect with me here:⁠Crane⁠, the private community for property management business owners.⁠My Free PM Newsletter⁠⁠RL Property Management⁠

Here’s a quick recap of what happened in property management last week. Links and resources to each story are included below…00:00:20 — Housing for the 21st Century Act Passes (No Investor Ban Included) - House Republicans and Democrats just passed the Housing for the 21st Century Act. It’s largely a “build more housing, faster” package — clearing federal review delays, reducing regulatory bottlenecks, and making it easier to develop missing middle and small multifamily housing. It also includes faster voucher lease-ups and some manufactured housing provisions. https://nypost.com/2026/02/11/real-estate/congress-advances-housing-bill-without-trumps-proposal-to-ban-investors/(One important note: the proposed ban on institutional investors buying single-family homes did not make it into the final bill. That piece was left out. So for now, there’s no federal restriction coming on large-scale homebuyers. The supply-side reforms advanced. The investor restrictions didn’t. Worth watching how that evolves.) 00:01:20 — HOA Manager Accused of Stealing $1M+An HOA manager has been accused of stealing more than $1 million in 2025, including at least $600,000 from one condo association. Allegations include forged checks and misdirected settlement funds. Wild story. But zoom out for a second — this is almost always a controls issue. One person had too much access and not enough oversight. Basic financial guardrails likely would have prevented this. Dual approval on disbursements, separation of reserve and operating accounts, bank statements going directly to board members. Processes are like plumbing — invisible when they work, a disaster when they don’t. https://www.realtor.com/news/trends/hoa-manager-allegedly-scammed-people-out-of-1-million-over-4-years/00:02:08 — AppFolio Releases 2026 Property Management Benchmark Report! AppFolio just released its 2026 Property Management Benchmark Report, and a few things jumped out. https://www.appfolio.com/resources/library/benchmark-reportThe top two challenges operators reported were higher vacancy and rising operating costs. That’s not surprising, but it’s validating to see it confirmed at scale. In response, 86% of property managers say they’re prioritizing resident experience — especially communication and reducing friction around move-ins.Fraud continues to go mainstream. More than half of respondents reported an increase in application fraud last year. That’s huge. Screening and verification are becoming table stakes.And then there’s AI. Forty-four percent of respondents say they’re already using AI tools, and those users expect faster portfolio growth than non-users. Interesting correlation. If you’re not experimenting yet, this might be your sign to start small and see what actually moves the needle.That’s all the news I have for you this week. Have a good one.📩 My Newsletter: https://www.peterlohmann.com/newsletter🎙️ My Podcast: https://www.peterlohmann.com/podcast__Disclaimer: The content of this news segment is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this podcast. Additionally, some of the links included may be affiliate links, meaning I may earn a commission if you purchase through these links. Always perform your own due diligence before making any financial or business decisions.

Here’s a quick recap of what happened in property management last week. Links and resources to each story are included below... 00:00:04 — FTC Targets Rental Housing FeesThe FTC announced it intends to regulate rental housing fees and will begin soliciting public comment on what it calls “deceptive or unfair fees.” This is early-stage, but it’s clearly aimed at long-term rental housing and the apartment industry. I break down what we know so far, why this matters, and why this one is worth watching closely. 00:00:59 — Rentvine User Conference AnnouncedRentvine just opened registration for its 2026 user conference, happening May 13–15 in Tampa, Florida. These conferences have a strong reputation, and if you’re a Rentvine customer (or considering the platform), this is probably worth a look.00:01:16 — Property Manager Arrested for $600K TheftA Florida property manager was arrested for allegedly stealing more than $600,000 from a condo association — including forging hundreds of checks and redirecting insurance payouts. Wild story, but it also raises bigger questions about licensing, regulation, and due diligence in our industry. 00:02:24 — Apartment Rents Hit 4-Year LowsApartment rents are reportedly at their lowest level in four years, with median rent down ~1.5% year-over-year. Vacancy has climbed to 7.3%, the highest level since Apartment List began tracking the data. I connect this back to supply, leasing pressure, and what you might be feeling on the single-family side. 00:03:48 — Peter & The Wolf Live ReturnsPeter and the Wolf Live is back for 2026. Wolfgang Krosky and I are kicking things off with a casual, live conversation about the year ahead, what we’re excited about, and what’s coming next for the show. Register hereThat’s it for this week. Let me know what you think in the comments. If this format is useful, I’ll keep publishing these short, news-style updates as part of the Tuesday edition of the newsletter.📩 My Newsletter: https://www.peterlohmann.com/newsletter🎙️ My Podcast: https://www.peterlohmann.com/podcast__Disclaimer: The content of this news segment is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this podcast. Additionally, some of the links included may be affiliate links, meaning I may earn a commission if you purchase through these links. Always perform your own due diligence before making any financial or business decisions.

In this episode, Vanessa Anderson digs into the biggest leasing challenges PMs are facing right now: flat rents, longer days on market, and growing regulatory pressure around fee disclosures. Vanessa shares how ShowMojo & Tenant Turner are helping PMs stay compliant, fight listing fraud, and optimize conversions, even in a soft market.(00:00:00) Intro (00:01:28) Vanessa's early career and real estate background (00:04:16) Transition to institutional ownership and tech (00:11:36) Recent developments and innovations (00:14:23) Sponsor - ShowMojo (00:15:44) Differentiating rental prices via fees (00:17:14) Addressing fraud and security in property management (00:22:54) Leveraging AI and future roadmap (00:30:59) Lead sources and leasing widgets (00:31:28) Sneak peek: latest leasing report (00:32:30) Challenges in the leasing market (00:33:56) Using data to communicate with owners (00:37:08) Regional market insights (00:39:07) Sponsor - ShowMojo & TenantTurner (00:40:40) Future leasing trends (00:53:35) Metrics for property managers (00:56:27) Importance of clear policies (01:01:03) Conclusion and contact information We also get into how AI is (and isn’t) being used in leasing workflows, the surprising market insights from their latest leasing report, and why a clear pet policy might save you 2–3 days on market. If you’re thinking about your tech stack, lead sources, or how to justify pricing with owners, be sure to catch this one.Learn more & connect with me here:⁠Crane⁠, the private community for property management business owners.⁠My Free PM Newsletter⁠⁠RL Property Management⁠Learn more and connect with Vanessa here: Vanessa on LinkedIn - https://www.linkedin.com/in/vanessaanderson/Tenant Turner - https://tenantturner.com/ShowMojo - https://hello.showmojo.com/Programming note: This episode contains sponsored content.

Here’s what I’m covering in this one:00:00:05 — Pure + HRG Merger (40k doors 🤯) The Pure and HRG merger is officially live — and this new combined entity clocks in at 40,000 doors under management. I break down the numbers (or what we can piece together) and explain why this is a big moment for the industry. Spoiler: We need a national PM success story to prove the model works at scale. And it’s really hard to grow while fighting churn at that size. 00:02:22 — Elevate Sales Kickoff Postponed. Originally planned for this month, Elevate’s annual sales kickoff got pushed to March due to weather. If you’ve got salespeople on your team, this one’s worth looking into. New date is March 16–18.00:02:39 — NARPM Capitol Summit Preview. The NARPM Capitol Summit is coming up fast (February 17-19), and I think every property manager should consider going. It’s one of the few places where advocacy and policy work are being done for our industry, not to us. I share why I’ve personally increased my financial support for their efforts.00:03:25 — Peter & The Wolf Returns! Our informal monthly Zoom show is back! Wolfgang Krosky and I are kicking off Season 4 on February 12 at 3pm ET. It’s live, casual, and covers whatever’s on our minds — news, vendor gossip, random hot takes. Always a good time in the chat. 00:05:30 — Data Ownership, APIs & PM Software An interesting video from Divvy Homes co-founder Alex Klarfeld looks at data ownership and API access — and why more industries are starting to fight for their right to access their own data. I connect the dots to what’s happening in PM software (think: AppFolio, Beagle) and why this matters more than ever as AI tools emerge.That's all for this week! Please leave your thoughts in the comments. If you like this format, I’ll keep publishing these short, news-style updates in the NEW Tuesday edition of the newsletter.__Resources for Property Managers & Real Estate Entrepreneurs• Crane – Private PM Owner Community → Join a private network of property management owners and operators: https://joincrane.co/• Free Weekly Newsletter → Property management insights, strategies, and industry updates direct to your inbox: https://peter.beehiiv.com/subscribe• RL Property Management → Learn more about Peter’s company and services in Columbus, Ohio: https://rlpmg.com/__Disclaimer: The content of this podcast is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this podcast. Additionally, some of the links included may be affiliate links, meaning I may earn a commission if you purchase through these links. Always perform your own due diligence before making any financial or business decisions.

In this episode, I’m joined by Brad Johnson, CEO of ProfitCoach and former GM of Sweyer Property Management.We discuss:(00:00:00) - Intro(00:01:52) - Bradley's journey in property management(00:05:04) - Lessons in leadership and personal growth(00:09:54) - The sale to Roam(00:19:54) - Sponsor - Rentvine(00:20:51) - Life post-sale(00:22:41) - Transition to profit coach(00:35:09) - Sponsor - Crane(00:39:42) - Identifying the right candidate for property management(00:42:24) - The importance of character and integrity(00:44:25) - Creating a sense of ownership in employees(00:46:20) - Innovative compensation strategies(00:50:24) - The value of hands-off leadership(01:00:59) - Profit coach services and future plans(01:04:38) - Live industry benchmarks and financial clarity(01:15:16) - Leveraging data and AI(01:17:29) - Conclusion and contact informationBrad shares how he took a 1,300-door PM company from 20% to 37% margins - all without equity, and without a background in single-family PM.We dig into what it really takes to find (or be) a #2 who operates like an owner, why Dave Sweyer hired Brad with no direct experience, and how a comp structure based entirely on profit margin changed everything.Learn more & connect with me here:⁠Crane⁠, the private community for property management business owners.⁠My Free PM Newsletter⁠⁠RL Property Management⁠ Learn more and connect with Brad here: ProfitCoachBrad on LinkedIn

Matthew Whitaker is back! And a lot’s changed since his first appearance.We discuss:(00:01:38) - Introducing season six(00:02:44) - Matt’s background and career(00:07:04) - Dealing with owners(00:20:47) - Sponsor - RentEngine(00:22:41) - Evernest’s tech stack(00:28:03) - Transitioning away from eos(00:33:35) - Dealing with management layer issues(00:40:31) - Sponsor - Crane(00:42:35) - Categories of owners(00:44:05) - Multifamily experiences(00:52:38) - The state of Evernest’s acquisition appetite(01:02:38) - Leadflow realities(01:06:57) - The state of the industry(01:09:41) - Get in touch with MatthewLearn more & connect with me here:⁠Crane⁠, the private community for property management business owners.⁠My Free PM Newsletter⁠⁠RL Property Management⁠ Learn more and connect with Matthew here: EvernestMatthew on LinkedIn The Evernest Property Management Show Podcast on Apple Today, Evernest manages nearly 20,000 doors across 50+ markets. We dig into how they’re structured, what they’ve learned from buying 17 PM companies in six months (!), and why the “property manager” job title is making a comeback.Matthew breaks down their tech stack, AI experiments, and how they think about scaling operations without sacrificing owner experience. We also talk about churn (especially from mid-sized investors), how valuation multiples have shifted, and what he wishes more property managers understood about communication vs. execution.If you’re rethinking org charts, prepping to sell, or just trying to reduce chaos, this one’s worth your time.

In this episode, Jennifer Stoops shares how she scaled a PM company to 3,600+ doors before transitioning into her current role as SVP of Industry Relations at PetScreening. We dig into that journey - from building systems and PM pod structures at scale to managing an office with 30 dogs (yes, really).Jennifer explains what most PMs get wrong about pet policies, how unreported pets erode NOI, and why PetScreening has become the “Carfax for pets.” We also cover M&A pitfalls, vendor risk, breed restrictions, and why the portfolio model often breaks past a certain door count. We discuss:(00:02:04) - Jennifer’s background and career(00:11:35) - Incident tracking(00:14:59) - Breed restrictions in insurance policies(00:16:51) - Sponsor - ⁠Crane⁠(00:19:04) - Discrimination by weight and breed(00:20:32) - Americans spending more on pets than kids(00:22:19) - Jennifer’s time at Park Avenue Properties(00:23:47) - How to organize a larger PM company(00:34:11) - Sponsor -⁠ RentEngine⁠(00:36:04) - Multi-market operations(00:50:00) - Advice to PM owners considering selling(00:53:59) - Non-obvious things to improve sales prospects(00:58:24) - Advice for considerations to take seriously in 2025 if you’re looking to acquire other companies(01:01:05) - How to approach an owner when you want to acquire them(01:07:26) - Getting in touch with JenniferLearn more & connect with me here:⁠Crane⁠, the private community for property management business owners.⁠My Free PM Newsletter⁠⁠RL Property Management⁠ Learn more and connect with Jennifer here: Jennifer on LinkedInPetScreening

Monica Gilroy is the founder of the Gilroy Law Firm and a legal powerhouse in the property management space.In this episode, she shares what to do if ICE shows up, how to bulletproof your application process, and why short leases are fine (if your systems are solid). We also dive into lawsuits, insurance gaps, and why you can say no to Section 8 in some markets (if you do it right).If you’ve ever felt legally exposed running your PM biz, this episode brings clarity - and a few fun “ask me how I know” moments.Chapters:(00:00:00) - Intro(00:01:56) - Monica’s background and career(00:04:09) - How PMs can handle ICE enforcement (00:08:09) - Approving renters(00:14:19) - Emotional Support Animals(00:16:00) - Sponsor - CallRail(00:17:18) - Appealing PM laws(00:23:33) - Waiving late fees(00:25:32) - Insurance(00:32:32) - Sponsor - RentEngine(00:34:26) - Putting a non-disparagement clause in a lease(00:43:02) - ADA Website lawsuits(00:48:38) - Section 8 nuances(00:54:31) - What are property managers afraid of that they shouldn’t be, and what are they not thinking about that should worry them?(01:00:41) - Getting in touch with MonicaLearn more & connect with me here:⁠Crane⁠, the private community for property management business owners.⁠My Free PM Newsletter⁠⁠RL Property Management⁠ Learn more and connect with Monica here: The Gilroy FirmMonica on LinkedIn

In this episode, I sat down with Lisa Horner, Chief Marketing Officer at AppFolio - LIVE at the AppFolio FUTURE Conference. We talked about what’s actually working in property management marketing today, digging into AI hype vs. real impact, why understanding your customer beats clever tactics, and how to market without sounding like… well, a marketer.Lisa shares how AppFolio stays close to operators (literally - engineers on the tradeshow floor), why branding starts with asking “who are we?” and “what do we care about?”, and how the best marketing campaigns begin with deep empathy and strategic constraints.We also touch on leadership transitions, the role of experimentation, and how business owners can prepare for AI-powered change (without panicking).We discuss:(00:00:00) - Intro(00:01:44) - AI in Property Management(00:06:03) - Marketing Strategies in the AI Era(00:09:17) - Understanding Customer Needs(00:16:31) - Sponsor - PropertyManagement.com(00:20:53) - Leadership and Management Insights(00:30:41) - Reflecting on Personal Beliefs and Values(00:30:53) - The Fear of Defining Your Brand(00:31:33) - Strategic Planning and Constraints(00:32:16) - The Importance of Targeted Marketing(00:33:00) - Sponsor - RentEngine(00:34:54) - The Impact of AI on SEO and Digital Marketing(00:37:47) - Embracing Experimentation in Marketing(00:40:23) - Understanding Your Customer Base(00:46:45) - Balancing Inbound and Outbound Marketing(00:49:15) - Leveraging Technology for Business Growth(00:55:34) - The Role of Marketing Beyond Lead Generation(00:57:21) - Conclusion and Final ThoughtsLearn more and connect with Lisa here: Lisa on LinkedInAppFolioLearn more & connect with me here:⁠⁠⁠Crane⁠⁠⁠, the private community for property management business owners.⁠⁠⁠My Free PM Newsletter⁠⁠⁠⁠⁠⁠RL Property Management⁠⁠⁠