Understanding a Hot Air Balloon Makes Better Chicago Property Managers
So they are beautiful and a lot of people want to ride in one, but do you know how a hot air balloon works? If you do, it can tell you a lot about how to be a better property manager. The balloon is made up of three parts:
- The envelope, known as “the balloon,” receives the hot air. Without the envelope, there would simply be hot air released into the open air and no way to float.
- The burner, which propels the hot air upward into the envelope. Hot air balloons need the burner to be fired at regular intervals to ensure stability while traveling. Without the burning, you would be left with a flat balloon cover on the ground.
- The basket and the pilot. The basket is where the pilot and any passengers stand to steer the balloon. The pilot directs the balloon up and down, allowing the wind to carry it to their final destination.
Hot air balloons are amazing inventions, but what do they have to do with Chicago property management?
Turns out, quite a bit.
Successful Rental Property Management in Chicago
Like the hot air balloon, successful rental property management in Chicago consists of three key players:
- The rental property owner is similar to the balloon envelope, because without the rental property owner, the property management industry would have no way to help others on their way up.
- The tenant is like the burner, because the tenant is what drives the property owner’s business up. Without a tenant, the business will not get off the ground.
- The property manager is the pilot, coordinating relationships between the tenant and the property owner, directing the tenant on how to care for the property, and ensuring the stability of tenant stays.
Real Property Management Chicago Edge Learned From Hot Air Balloons
Just as the hot air balloon requires a particular set of steps to get moving, Real Property Management Chicago Edge knows working with the property owner and tenant is the result of an amazing business model. If your rental property business is struggling to get off the ground and you feel as though you are missing a key component in the business model, contact Real Property Management Chicago Edge today to learn how we can help “pilot” your rental properties and help your business soar!