Shared Traits - Property Management and Triathlons

What do Triathlons and Property Management have in common?

Let’s take a look-

• Research and have a plan
  Triathlon - research different training schedules to follow for your race preparation, plan out your training schedule
  Property Management - research the paperwork, laws, and everything else that pertain to property management, plan out business goals
  
  
• It takes money
  Triathlon - admission fees, gym fees, bike, running shoes, goggles, bike repairs, water bottle, new goggles because you lost your old ones…
  Property Management - the property, a lawyer, association fees, repairs, updates, taxes...
  
  
• You’re in for the long haul
  Triathlon - for a standard triathlon that’s a 1500 meter swim, a 40 kilometer bike ride, and a 10 kilometer run
  Property Management - renting property is a long-term investment, not a house flip that will gain you a couple thousand dollars after a few months
  
  
• It’s one event, but focus is split in different directions
  Triathlon - there’s a focus on swimming, biking, and running plus you have to think about things like nutrition and weight lifting
  Property Management - is not just renting out units as there is also accounting, record-keeping, maintenance, advertising, etc.
  
  
• There are rules to follow
  Triathlon - depends on the race, but rules may include no drafting, no outside help, and no ipods
  Property Management - there are several laws that property managers must abide by, like returning a deposit back within a certain number of days, abiding by Fair Housing, or maintaining a safe environment for residents
  
  
• Surprises happen
  Triathlon - goggles fog up, bike gets a flat tire, your shoelace breaks
  Property Management - a pipe bursts and floods three units, you owe taxes you didn’t know about, a resident skips out of town and leaves the place demolished
  
  
• Support along the way helps
  Triathlon - training with a buddy can increase the likelihood that you’ll actually exercise, family and friends who cheer for you on the sideline give you a boost and reason to finish
  Property Management - the accountant, maintenance man, office worker, leasing agent, and everyone else who help your business run effectively
  
  
• Rewards at the end
  Triathlon - chocolate milk, cookies, energy bars, water, Creamies, sno-cones, fruit
  Property Management - money
  
  And last, but not least-
  
  
• Both take work, start to finish