Property Management Why is Property Management so important to you? What is your North Star Metric? The North Star Metric (NSM) is a metric that a company uses as a focus for their growth. While you likely have many other KPI’s and goals in your business, your North Star Metric gives direction to your company’s longterm growth versus short-term growth. Facebook - monthly active users. Spotify - time spent listening. Amazon - purchases per month. EG. Number of properties under management, monthly profit, sales referred from PM. What profit point do you want to aim for? Do you run Property Management under a separate cost centre? If so, how does your profit margin compare to the industry average of 20%? What % of profit do you want to aim for? Day 2 Property Management | 77
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