Shared Traits - Property Management and Triathlons
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