How do you communicate rising costs, so you have to charge your property management owner clients more?

We know that the rate has to increase every to take care of a variety of increasing costs. We build that right into the management agreement. We have an automatic rate increase that happens at the start of every fiscal year.

Sometimes there is additional work on a property that can be billed hourly, but there is also an increase in rent every year which increases our revenue because of an increase in the percentage of rent.