Articles

Perfecting Your Property Management Practice

Perfecting Your Property Management Practice

Posted on 23. Aug, 2016 by .

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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 […]

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U.S. Apartment Trends: What’s Happening in Your City?

U.S. Apartment Trends: What’s Happening in Your City?

Posted on 18. Aug, 2016 by .

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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.

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Property Managers Unfazed by Dazzling Job Numbers and Economic Anomalies

Property Managers Unfazed by Dazzling Job Numbers and Economic Anomalies

Posted on 09. Aug, 2016 by .

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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 […]

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Are You Ready to be Green?

Are You Ready to be Green?

Posted on 04. Aug, 2016 by .

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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 […]

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Property Management Maintenance of Strong Client Relationships

Property Management Maintenance of Strong Client Relationships

Posted on 02. Aug, 2016 by .

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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 […]

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How Job and College Enrollment Growth Impact Rent Growth

How Job and College Enrollment Growth Impact Rent Growth

Posted on 28. Jul, 2016 by .

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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 […]

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How to Keep Your Properties Secure this Summer

How to Keep Your Properties Secure this Summer

Posted on 26. Jul, 2016 by .

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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 […]

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How to Attract Renters with Bold Design Elements

How to Attract Renters with Bold Design Elements

Posted on 21. Jul, 2016 by .

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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 […]

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Prudent Property Managers Insure with the Best Coverage

Prudent Property Managers Insure with the Best Coverage

Posted on 19. Jul, 2016 by .

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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. […]

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More Bikes Could Lead to More Revenue for Property Managers

More Bikes Could Lead to More Revenue for Property Managers

Posted on 14. Jul, 2016 by .

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The 2016 Concept Community Survey gauged the needs of 88,000 renters nationwide. It found that 44% of renters either own or will soon own a bike and with the increase in bikes comes an increase in renters’ need for bike storage in their rental units. According to Multifamily Executive, “Nearly 20% of all renters would […]

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Multifamily Construction Spending on the Rise

Multifamily Construction Spending on the Rise

Posted on 14. Jul, 2016 by .

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A recent Axiometrics article showed that while single-family construction spending has fallen over recent months, multifamily construction spending has seen a steady increase. “Single-family (SF) spending fell for the third straight month, and annual growth slowed to 6.3% in May from double-digit growth that averaged 20% in 2015. Multifamily construction was up with a month-over-month […]

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6 Easy Steps to Creating Fresh Outdoor Apartment Spaces

6 Easy Steps to Creating Fresh Outdoor Apartment Spaces

Posted on 12. Jul, 2016 by .

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It’s not enough to just have outdoor areas; as property managers, we must keep outdoor spaces looking fresh, too, to attract—and retain—residents. Check out this post from Multifamily Executive outlining 6 easy ways for property managers to keep outdoor spaces looking trendy and fresh to attract renters. Read more on Multifamily Executive.

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Cities or Suburbs: The Added Cost of an “Urban” Lifestyle

Cities or Suburbs: The Added Cost of an “Urban” Lifestyle

Posted on 12. Jul, 2016 by .

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According to a recent article from Axiometrics, the additional costs of living in a city versus living in the suburbs may be more than the $578 national average rent gap. Transportation might be a factor for renters to consider when deciding where to live. “Commuting to work via personal vehicle will cost approximately $1,912 in […]

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American Property Managers Prepare for Possible Economic Recession

American Property Managers Prepare for Possible Economic Recession

Posted on 05. Jul, 2016 by .

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No one has a crystal ball when it comes to the U.S. economy, but recent data suggests the possibilities of an economic recession are increasing. A careful, timely preparation plan makes good business sense. First I want to remind you that economic statistics are not always reliable. In fact they can be very confusing. Let […]

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The Brexit Impact On Multifamily Investment

The Brexit Impact On Multifamily Investment

Posted on 29. Jun, 2016 by .

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According to a recent article by Forbes, the big news out of U.K. last week—the Brexit vote for the U.K. to separate itself from the European Union—might have an affect on investors in the U.S. multifamily market. “The Brexit could decrease the value of British real estate, at least in the short term, as the United […]

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Property Event Ideas for the Summer

Property Event Ideas for the Summer

Posted on 28. Jun, 2016 by .

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Every year, do you promise yourself that this will be the year that you create a haven for your residents? That this year, you’ll organize those pool parties and Saturday afternoon barbecues? But somehow, every year, your plans go awry, and when you suddenly have the time to create these get-togethers, it’s September. The best […]

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Prepared Property Managers Stick to Their Business Plans

Prepared Property Managers Stick to Their Business Plans

Posted on 23. Jun, 2016 by .

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Today is the best time ever to be a property manager. Today is the only day we have, since yesterday is history, tomorrow is a mystery, and today is a gift. It’s why we call today “the present.” There are more residents looking for rentals today that at any time in the history of the United […]

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Latest Trend: What Are Microunits?

Latest Trend: What Are Microunits?

Posted on 21. Jun, 2016 by .

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As the name suggests, microunits are very, very small apartments popping up in urban areas. Popular in Europe, this trends is reaching the U.S. in areas where affordable housing isn’t prevalent. These units range from 250-400 square feet, built with efficiency in mind to maximize the small space. According to Axiometrics, “these tiny units make […]

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How to Maximize Renter Leads

How to Maximize Renter Leads

Posted on 16. Jun, 2016 by .

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Several processes and activities can generate leads for your properties. In this article from Multifamily Executive, they outline different strategies—call centers, email remarketing, reputation management, and more—that can help you bring in more leads. Try some of these revenue-generating tips and see if they work for your property management business. Read More from Multifamily Executive.

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The Right Staff and Resident Retention

The Right Staff and Resident Retention

Posted on 14. Jun, 2016 by .

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With more than 300,000 new units coming in 2016, resident retention is more important than ever. The culture of a property is a major factor in keeping residents at existing properties. Hiring the right staff for your property management company is not only a strong business strategy, but it’s also an important lease renewal strategy. […]

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Property Managers’ Proactive Response to Soaring Rents and Price Controls

Property Managers’ Proactive Response to Soaring Rents and Price Controls

Posted on 14. Jun, 2016 by .

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After nearly 6 years of rising rents and declining vacancies, ideas for solutions have become both a hot economic and political issue. In California, no less than the governor has become interested. The cost of housing is so high in many areas of California that paying rent or a mortgage often costs half of a […]

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8 Common Email Marketing Mistakes for PMs

8 Common Email Marketing Mistakes for PMs

Posted on 09. Jun, 2016 by .

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Email Marketing is a top marketing strategy for Property Managers to reach new renters and owners. But some of the most common mistakes can be more harmful than good for your business. Realty Times covers 8 common email marketing mistakes and how to avoid them. Read more from Realty Times.

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What to Do When Your Resident Files for Bankruptcy

What to Do When Your Resident Files for Bankruptcy

Posted on 09. Jun, 2016 by .

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Every landlord in their lifetime experiences renters who don’t pay their rent. But what do you do when your renter files for bankruptcy? How do you protect yourself legally? Multifamily Executive highlights some protective, pre-bankruptcy measures that can help minimize your financial losses whenever you suspect a renter may be planning to file. Read more on […]

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Summer Safety Measures for Apartment Communities

Summer Safety Measures for Apartment Communities

Posted on 07. Jun, 2016 by .

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With the unofficial start of summer here, more residents will be spending time outdoors, looking for various ways to enjoy the sunshine and warmer temperatures. Year-after-year, the two most popular activities for residents include swimming and barbecuing. The warm weather also brings a host of added responsibilities for property managers and staff alike as they […]

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