Hi Matt here with Hudson Property Services, and today we're going to cover the Property Management Trifecta. So what is the Trifecta, and why did we put together a whole series about it?

So if you're familiar with rental properties or property management, you'll know that this can be a very messy business. There's a lot of moving parts and it's very hard to stay organized and keep things where they need to be. So we created a framework that helps you sort of organize all these different things that you have going on at your property, and kind of outline a way to handle them. So I'll give a high level overview of the three portions of the Property Management Trifecta.

So the first section of the Trifecta is leasing. So this is everything that the resident experiences; all the way from the first advertisement that they see to move in all the communications going back and forth, maybe some lease renewals, all the way through the move out. So everything that they experience; every interaction that you have with the resident would fall under the leasing portion of the Trifecta.

The second part of the Trifecta is accounting. This is essentially anything with a dollar sign at the property. So
incoming things like rent and security deposits, as well as outgoing things like paying vendors and utility bills. It
also includes any reporting that you do; record keeping, so whether that's a spreadsheet system or an accounting
software, maybe QuickBooks, that all falls under the accounting portion of the Property Management Trifecta.

And then finally you have maintenance. So this is the small things, ongoing stuff like grounds keeping and keeping the gutters clean, and servicing boilers and furnaces, all the way up through the bigger stuff like repairs and renovations. So that all falls under the maintenance bucket in the Property Management Trifecta.

So when you have this framework, and you can take all these moving parts of running a rental property and put them in these clean little buckets, it helps you first of all stay organized, and second of all you can find the areas where you may have some weaknesses and improve on those areas; maybe find some content and some videos and some some checklists to help you improve those areas where you could use a little assistance.

So we hope that this video was helpful in explaining what the Property Management Trifecta is, and how it can help you run a more efficient and effective rental property.

Please be sure to visit us on our website that's www.HPShomes.com. If you're viewing this on another platform
on YouTube or social media, please visit us on our website. There's a lot more content there, you'll get access to other videos, free PDF downloads, and a lot of other stuff that's just not available on the other platforms. So again
www.HPShomes.com and click on the Trifecta link. Thanks so much!