How To Make The Transition To Managing Large-Scale Buildings
Gain exclusive access to the valuable insights and expertise of a Property Management Accounting Expert as he shares his insider knowledge on scaling up to larger properties and thriving in a more sophisticated market.
April 26, 2023
We sat down with Chris Inghram, a Property Management Accounting Expert (PMAE) at Proper AI. Chris has over 20 years of experience in commercial development syndications, investments, blind pools, land banking, and HOA management. In this interview, we’ll be discussing the challenges mid-sized property management companies face when trying to grow to the next level and how Proper can help them achieve their goals.
Proper AI: What is the biggest challenge that mid-sized property management companies face when trying to grow to the next level?
Chris Inghram: The biggest challenge for mid-sized property management companies is finding talent that can meet the expectations of sophisticated clients. When a company grows to the point where they are dealing with investment banks and hedge funds, they need to produce reports that many smaller companies can’t produce due to a lack of accounting knowledge and sophistication.
Proper AI: Do you think there’s a threshold in terms of the number of doors a company manages that determines when they need to start seeking this type of extra support?
Chris Inghram: It’s not necessarily about the number of doors but more about the mentality of the property manager. If you have a portfolio of some really sophisticated clients and you need to show them that you can produce high-quality financial statements, you need to be ready to outsource accounting work into the hands of professionals and let them do what they’re good at. It’s more about timing than the number of doors.
Proper AI: How can property managers look at Proper beyond just a property accounting service?
Chris Inghram: We have a team of professionals with over 20 years of experience managing large property management companies that smaller management companies wouldn’t be able to afford salary-wise. We can help with not just accounting but also automation, streamlining, and growth strategies. Our goal is to help companies grow and reach their potential.
Proper AI: What is the biggest mistake that property managers make when trying to take on more sophisticated clients and bigger buildings?
Chris Inghram: The biggest mistake is not realizing the importance of having a strong accounting team in place. If you don’t have the accounting knowledge and expertise to produce the reports that sophisticated clients demand, you won’t be able to retain those clients. Additionally, not utilizing the software to its full potential is another common mistake. Property managers need to take advantage of automation and streamlining to maximize their efficiency and accuracy.
Proper AI: Can you give us a brief overview of how Proper’s services can help property managers take their business to the next level?
Chris Inghram: Our services can help property managers automate their accounting processes, streamline their operations, and develop growth strategies. We provide our clients with access to a team of accounting specialists who can handle everything from basic accounting tasks to more complex financial reporting. Our goal is to help property managers take their business to the next level and reach their full potential.
If you’re a property manager who would like to go after more sophisticated clients and bigger buildings, take advantage of the wealth of knowledge a partnership with Proper AI can provide you. Schedule your free consultation and talk with us about how we can take your business to new heights.