Owners keep asking me the same five questions, so now I'm thinking about charging for the answers
I manage a bit under 90 doors, mostly small stuff, and about a third of my owners are first-time landlords. Same five questions every time. How do I screen, what do I do when rent is late, who pays for what, what happens at turnover, when do I raise rent.
I answer all of it for free right now, on the phone, badly, at 7pm. So I've been sketching a paid class. Four sessions, ninety minutes each, live on video, capped at 12 people. I priced it at $300 a head in my head and immediately felt weird about it.
What I have: the material already exists in my brain and in about 40 pages of checklists and templates I built for my own staff. My market is one metro, so I can be specific about local notice rules and the county process instead of talking in general terms.
What I'm unsure of: whether I'm building a product or a very slow lead magnet. If the class fills, that's $3,600 for maybe 16 hours of my time plus prep, and prep is where it dies, I'd guess 12 to 15 hours the first run. Management fees on one new 4-unit owner would beat that over a year without me talking on camera.
The decision in front of me is whether to charge at all, or run it free twice and see whether anybody in the room ends up hiring me. My spouse thinks free makes it look like it's worth nothing. I think $300 makes people show up.