1836 Property Management
Real Estate Investing Made Easy with a Data-Driven Approach

The adage ‘if you can’t measure it, you can’t improve it’ rings true for driving success in real estate property management.

Here, performance metrics serve as the crucial navigational tools that guide investors and property owners toward untapped growth opportunities—helping them make data-driven decisions to enhance profitability. For instance, data on tenant turnover rates can help identify the root causes and implement new retention strategies that keep residents happily anchored. Conversely, when occupancy rates are through the roof, a deep dive into the driving factors can reveal the secret to replicating that success across an entire portfolio.

1836 Property Management (1836PM) delivers this level of transparency and data-driven approach to property management.

True to its mission of ‘making real estate investing easy,’ 1836PM introduced REI Monitor, a proprietary software, with an open API that integrates with Buildium property management systems—providing real-time tracking and monitoring of investment property performance. Encompassing a spectrum of financial metrics from monthly rental income to maintenance costs, and from mortgage payments to overdue rents, it furnishes clients with a clear picture of key investment indicators, including return-on-equity, cash-on-cash yield and capitalization rates; ensuring their investment decisions are grounded in robust data.

Visibility into these metrics is akin to possessing a powerful magnifying glass, allowing clients to pinpoint precisely where they can make the most impactful improvements. Whether it’s optimizing rental rates, reducing operational costs or identifying untapped revenue streams, these insights allow 1836PM to recommend informed choices to its clients that drive success.

Matt Leschber, the founder, articulates the company’s guiding principle, “The transparency provided by REI Monitor regarding the health and performance of our clients’ properties is fundamental to building trust and cultivating enduring customer relationships. It allows us to be more attuned to our customers’ needs and to access essential metrics that signal whether operations are proceeding smoothly or if adjustments are needed to maximize returns for clients.”
1836PM’s dedication to delivering a superior customer experience is exemplified through its internal application of Podio and Monday software, which tracks pivotal employee performance metrics. These include response times to client inquiries, property turnover rates and lease renewal rates in comparison to departures. This access to insightful data also allows staff to swiftly identify and address any deviations from established policies or declines in service levels, fostering a culture that values accountability, self-assessment and continuous improvement.

A distinguished example of 1836PM’s adept management in complex property scenarios is demonstrated by its intervention at one of its managed properties. The property, self-managed by the owner since his purchase in 2018, faced challenges that required professional oversight. Upon assuming management in March 2023, 1836PM was confronted with a less-than-ideal situation. The incumbent tenants were marred by a history of late payments, accumulating to a two-month backlog. Despite the owner’s diligent efforts, the situation remained unresolved, prompting necessary legal proceedings for eviction. Following the eviction, 1836PM’s team, alongside the owner, undertook a comprehensive inspection to evaluate the property’s condition and strategize on needed repairs. Through attention to detail, they ensured that all maintenance was executed to superior standards, adeptly readying the property for its forthcoming tenancy. On June 9, 2023, 1836PM relisted the property, and within a month, on July 6, 2023, the client successfully secured new tenants.

The proof for many such success stories is in the numbers. On average, 1836PM yields 10.63 percent of the overall return generated by the investments with clients’ portfolios.

The company plans to invest heavily in software to ramp up its capabilities. Focus on automating its onboarding process by integrating what’s called a ‘pizza tracker from Dominos’ will let clients know what is happening behind the scenes, and what’s upcoming and left for them to do on their end, such as paperwork. The integration of the automation tool is said to streamline document signing, including property agreements and leases, all with a goal to take the property management process and communication to the next level.

These initiatives are backed by the belief, ‘time is money,’ emphasizing that the more efficiently 1836PM can run, the lower the costs for investors and the greater the return on investment.