What If Porsche Ran A Property Management Company?

If you visit Porsche’s factory in Zuffenhausen, Germany, the first thing you notice is … well … it’s tiny! Like smaller than a satellite parking lot at Ford! And when you learn that they make more than 55,000 cars per year at that factory, it’s easy to ask, “How?” 
I am sure there are many reasons for their success, but the concept that resonated with me (and spawned this post) was their absolute mastery of two principals: Just-In-Time (JIT) and Just-In-Sequence (JIS). Something I found fascinating is that the materials used to construct their vehicles often arrive no more than one hour before being installed on the assembly line! One hour! And not only do they arrive “just in time,” but they are loaded/off-loaded in the exact order as the cars in the assembly line (Just in Sequence).
What does this have to do with property management? Here it comes: the Porsche factory has to be extremely efficient and well-organized. And they have to execute their processes to perfection – there’s no room for waste of any kind. If they make an error, there are very few areas where a car can be removed from the line. If a part is wrong or missing, they are stuck!
This got me thinking about why there are such varying degrees of performance from apartment operators who operate similar class properties within the same markets. Some portfolios achieve lease:lead conversion at 5-7%, which is good, but some peers achieve 10-15%. Why?
The answer is rooted in a compa……