Shared Traits - Property Management and Triathlons

by Andrea West


Posted on 2017-08-17 12:24:41


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

 

 


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