Articles

Property Managers Prosper with Competitive Advantages

Property Managers Prosper with Competitive Advantages

Posted on 30. Sep, 2016 by .

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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 […]

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Criminal Background Checks

Criminal Background Checks

Posted on 26. Sep, 2016 by .

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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 […]

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Prosperous Property Managers Prepare for Positive Changes

Prosperous Property Managers Prepare for Positive Changes

Posted on 14. Sep, 2016 by .

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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 […]

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Why Good Property Managers Are Still Hard to Find

Why Good Property Managers Are Still Hard to Find

Posted on 08. Sep, 2016 by .

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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 […]

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Current Trends: Renting vs. Home Ownership

Current Trends: Renting vs. Home Ownership

Posted on 01. Sep, 2016 by .

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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 […]

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4 Tips for Keeping Your Renters Happy

4 Tips for Keeping Your Renters Happy

Posted on 01. Sep, 2016 by .

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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 […]

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New Apps to ‘Virtualize’ Apartments of the Future

New Apps to ‘Virtualize’ Apartments of the Future

Posted on 30. Aug, 2016 by .

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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 […]

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Renewals: What’s Driving Renters Away?

Renewals: What’s Driving Renters Away?

Posted on 30. Aug, 2016 by .

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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 […]

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National Apartment Association Adopts Energy Efficiency Initiatives

National Apartment Association Adopts Energy Efficiency Initiatives

Posted on 25. Aug, 2016 by .

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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 […]

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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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