Posted on 27. Oct, 2016 by Rachel Jefferson.
With the World Series underway, the Chicago Cubs’ home stadium of Wrigley Field is one of the few Major League ballparks to lie within a neighborhood. Reportedly, rooftop owners are charging an arm and a leg to watch the game. So what does the current rental landscape of this area and the surrounding neighborhoods look […]
Posted on 25. Oct, 2016 by Marc Courtenay.
As I listened to this long-time property manager describe his losses I was astounded. “These ungrateful owners don’t deserve me. I’ve worked hard for them and their residents and this is what I get?” Although this man was intelligent, his people-skills and mannerisms were brash, condescending and curt. Nobody enjoys the company or doing business with […]
Posted on 20. Oct, 2016 by Mary Girsch-Bock.
In a recent post, I talked about HUD’s new guidelines for renting to tenants with a criminal history. Today, we’ll take a look at some of the other Fair Housing Laws that property managers may be overlooking. While all property managers are likely (or should be) familiar with standard Fair Housing Laws, such as the prohibition […]
Posted on 18. Oct, 2016 by Marc Courtenay.
While many property managers may be distracted by and entertained with the political elections in the U.S., now may be an auspicious time to shift our focus. How about two disparate attention targets? First, how do the presidential elections impact the cost of housing? My research found that residential real estate prices usually falls during […]
Posted on 13. Oct, 2016 by Marc Courtenay.
There are times where we throw caution to the wind and go “all in.” There are other times to pause and carefully ponder the realities of what may be “coming around the bend.” Perhaps, after nearly 8 years of low interest rates and endless economic stimulants, we are now in the “carefully ponder” stage of […]
Posted on 05. Oct, 2016 by Mary Girsch-Bock.
You’ve worked hard to attract and keep the best tenants; making sure that your properties are well maintained and attractive. Resident safety issues are also a priority, so your property is patrolled regularly, burned out lights replaced immediately, and security cameras working. Everything is working great; you’re happy, your tenants are happy, and the property […]
Posted on 30. Sep, 2016 by Marc Courtenay.
Although I’m an ardent enthusiast of cooperation, I’m also a multi-decade-longtime instructor of how to create meaningful, competitive advantages. In fact, you can be both cooperative and competitive. Obvious competitive advantages include having honed your skill sets, mastered the use of cutting-edge technologies, and having outstanding people skills. Combined, you’ll be in a league of your […]
Posted on 26. Sep, 2016 by Mary Girsch-Bock.
In April, the U.S. Department of Housing and Urban Development (HUD) made the job of a property manager a little bit harder. In past blogs, I’ve talked about the possibility of conducting criminal background checks on potential applicants. It turns out that it’s not quite as simple as that. HUD recently released new guidelines for […]
Posted on 14. Sep, 2016 by Marc Courtenay.
Are you an optimist, a pessimist, or a realist? Most of us would choose the later, but I like to call myself an optimistic realist. How about you? In the months and years ahead our self-confidence and self-image will be tested by what Shakespeare called “…the slings and arrows of outrageous fortune.” The uncertain future […]
Posted on 08. Sep, 2016 by Marc Courtenay.
In today’s world there seems to be fewer adequately compensated jobs where the demand outstrips the supply. If you are a property manager, assistant property manager, or facilities maintenance coordinator you’re in one of the best professions at the right time. Both the commercial and residential property management businesses are growing so fast that it’s difficult to […]
Posted on 01. Sep, 2016 by Rachel Jefferson.
With home ownership in the U.S. at its lowest rate since 1965, and renting nearing a 50-year high, cities are building more multifamily properties. Here & Now‘s Jeremy Hobson interviews property management professionals in the Houston and Cleveland areas for their perspective on the latest trend. He also talks to Svenja Gudell, chief economist for the […]
Posted on 01. Sep, 2016 by Mary Girsch-Bock.
In a recent post, we talked about some of the things that managers can inadvertently do to drive their good tenants away. Remember, as property managers, your focus should be on providing your residents with a safe, secure place to live. However, it’s also important to provide your tenants with a sense of community and […]
Posted on 30. Aug, 2016 by Rachel Jefferson.
Apartment living is changing as new technologies and applications hit the market. Multifamily Executive runs through quite a few new apps built to “virtualize” apartments. What does this technology advancement mean for property managers? Well, for one, more people might rent your vacancy without having stepped foot in the unit, or even in the state. Virtual […]
Posted on 30. Aug, 2016 by Mary Girsch-Bock.
Property managers spend a lot of time ensuring that their tenants follow the rules, which include timely payment of rent, reasonable noise levels, parking in their assigned parking spot, and keeping their apartment home in reasonably good shape. If they live up to their end of the bargain, what are you and your staff doing […]
Posted on 25. Aug, 2016 by Marc Courtenay.
Just because the cost of heating and cooling buildings hasn’t been skyrocketing this year doesn’t mean it can’t happen next year. Being a “conservationist” when it comes to energy is good for everyone. Property managers around the globe are responding positively to the challenge. They know that energy efficient rental units attract conscientious residents while […]
Posted on 23. Aug, 2016 by Marc Courtenay.
Although it has been said that nobody is perfect, there are some who are what I call “near perfect.” After all, since practice makes perfect, why not keep practicing while striving for excellence? In today’s economy we are at an auspicious confluence of trends that will reward good property managers like never before. The word […]
Posted on 18. Aug, 2016 by Rachel Jefferson.
AppFolio recently partnered with Axiometrics, a leading provider of apartment market data, to take an in-depth look at how job growth directly affects rent growth in the U.S. apartment market. See the AppFolio & Axiometrics Growth Trends Report.
Posted on 09. Aug, 2016 by Marc Courtenay.
One month the employment numbers disappoint and the next they sizzle. It’s enough to give an interested property manager whiplash! In a recent article I reported that “On Friday, June 3 the U.S. Bureau of Labor Statistics announced an addition of just 38,000 nonfarm payrolls during May 2016. Economists had been expecting 160,000. This was […]
Posted on 04. Aug, 2016 by Mary Girsch-Bock.
Offered by The National Apartment Association Education Institute (NAAEI) and the National Affordable Housing Management Association (NAHMA), the Credential for Green Property Management (CGPM) continues to provide an important role in training onsite managers, maintenance staff and supervisory personnel in the latest green technology. Even property management businesses with limited budgets can benefit from the […]
Posted on 02. Aug, 2016 by Marc Courtenay.
The summer and autumn months remind alert property managers that annual maintenance procedures should be carried out. Taking good care of your clients’ properties is a critical management function. While you’re scheduling and overseeing these important responsibilities, ask yourself an urgent question. “Are my relationships with my clients well-maintained and as strong as ever?” The best […]
Posted on 28. Jul, 2016 by Rachel Jefferson.
It’s no secret to any property manager that when job growth is on the upward trend, rent growth will shortly follow. However, a recently published Axiometrics article drew a parallel between falling rent and job rates to an increase in college enrollment. “Why does enrollment increase when job growth declines? The simple answer is to […]
Posted on 26. Jul, 2016 by Mary Girsch-Bock.
With hot summer days and warm nights upon us, it’s more important than ever that property security measures are in place and operational. Along with bored teenagers looking to get into trouble, warm summer evenings also attract the professional criminal as well. With apartment units frequently empty in summer months due to vacationing tenants, those […]
Posted on 21. Jul, 2016 by Rachel Jefferson.
Property managers are constantly trying to find new ways to attract tenants, especially in areas with high turnover rates like areas surrounding universities, with residents coming and going every year. According to a recent, Realty Times article, unique design elements like petrified wood flooring, spiral staircases, and tiled bathrooms can be a low-maintenance way to […]
Posted on 19. Jul, 2016 by Marc Courtenay.
When was the last time you took a careful look at your business’ insurance protection? There is no need for salespeople to give you a pitch. This is a serious topic that is really self-motivating. Many property managers are so busy managing properties that they delegate the responsibility for adequate insurance coverage to someone else. […]