Tag Archives: business
Posted on 22. Jan, 2015 by Marc Courtenay.
Large metropolitan areas aren’t the only places where rental activity increased in 2014. In fact rents went up more as a percentage in smaller cities than in the large metropolitan areas. In 2014 the cost to rent an apartment moved higher for the fifth consecutive year. Much stronger demand coupled with dwindling supply meant vacancies […]
Posted on 01. Jan, 2015 by Mary Girsch-Bock.
It’s a brand new year. If you’re like most of us, you have a long list of New Year’s resolutions that you have vowed to keep this year. And, if you’re like most of us, becoming better organized in 2015 is somewhere on that list; after all it’s one of the Top 10 resolutions year […]
Posted on 18. Dec, 2014 by Marc Courtenay.
The term “golden rules” is actually an introduction to the most important rules property managers must adhere to. This article should be considered a primer which you can build upon. As my readers know I want property managers to be “remarkable”. One big way to achieve this is to know so much about your responsibilities that […]
Posted on 16. Dec, 2014 by Marc Courtenay.
Vacancies can come up at the most unexpected times. The end of a year, even though it’s a holiday season, is no exception. Neither are the early months of winter when fewer moves occur. That’s why property managers need multiple ways to attract new residents that work all year round. It’s also effective to have […]
Posted on 11. Dec, 2014 by Vanessa Naranjo.
Are you prepared for the upcoming year? Recent studies suggest that multifamily demand will remain high in 2015, despite “high demand, some markets reflect a possible concern of oversupply, with vacancy rates forecast to reach upwards of 7 percent.” Multifamily Executive recently posted an article that shows what to expect in the rental market. Click here for […]
Posted on 09. Dec, 2014 by Mary Girsch-Bock.
As 2014 draws to a close, there’s no better time to begin to assess the year. If there’s nothing you would change for 2015, you can probably stop reading now. But for most of us, there’s always something that we can do better, faster, more efficiently, and more profitably. One of the best ways to […]
Posted on 27. Nov, 2014 by Marc Courtenay.
As property managers we want to keep up on the trends in our local economies. “The trend is our friend” is a mantra that enlivens our professional awareness. The final quarter of 2014 has uncovered some important national trends as well. Building permits, an important signal of future construction, increased by 4.8% in October to […]
Posted on 06. Nov, 2014 by Vanessa Naranjo.
Multi Family Executive recently shared an article discussing the commonalities between the hospitality and apartment industries and how Property owners and managers can gain knowledge from hospitality tactics. Looking outside of the multifamily industry can offer fresh perspectives on how to approach different aspects of your business. Read the full article here
Posted on 04. Nov, 2014 by Mary Girsch-Bock.
Are you so bogged down in the details of your day to day management duties to take some time and look at the bigger picture? With the pressure to fill empty units, keep the property profitable, and make hundreds of people with very different personalities happy, property managers can sometimes forget to spend some time […]
Posted on 30. Oct, 2014 by Vanessa Naranjo.
The economic shock, better known as The Great Recession, has created a demand that’s here to stay. Millennials witnessed the masses get hurt by home ownership and are now opting to rent. The New York Times recently posted an article discussing this demand increase. Read the full article here
Posted on 28. Oct, 2014 by Marc Courtenay.
Like the line from the infamous movie Jerry Maguire, property managers work hard to be able to say “Show me the money!” It doesn’t matter if you’re a Tom Cruise fan for these words to resonate. When I consult with property managers about growing their income I begin with the question, “Have you discussed this […]
Posted on 16. Oct, 2014 by Marc Courtenay.
Just because it may not be as “cool” today to take your property management business in a “green” direction doesn’t mean it’s not rewarding. Besides the personal satisfaction there are advantages. As part of its Healthy Homes Program, the federal government’s Department of Housing and Urban Development (HUD) launched in 1999 its Healthy Homes Initiative […]
Posted on 09. Sep, 2014 by Mary Girsch-Bock.
The Wall Street Journal recently noted that the share of new homes being built as rental apartments is at its highest level in four decades. While it certainly helps the economy, an increase in apartment homes can strike fear in the hearts of many property managers. After all, these newer units will likely boast state […]
Posted on 03. Sep, 2014 by Marc Courtenay.
As the summer season slides to a close it’s good to remember that our work should be enjoyable. If our demanding profession begins to wear us down it’s probably time to do something about it. Recently I touched basis with a colleague who’s been in the property management business for over 40 years. I won’t […]
Posted on 28. Aug, 2014 by Marc Courtenay.
The U.S. economy has come a long way from the frightening fiscal collapse that happened at the end of the Bush administration in 2008. The Obama administration inherited the worst economic crisis since the Great Depression. The Federal Reserve has been managing America’s monetary policies since 1913. Once former Fed Chairman Ben Bernanke saw the […]
Posted on 19. Aug, 2014 by Marc Courtenay.
Don’t let the lazy, crazy, hazy days of summer lull your property management business to sleep. Wake it up with timely communiqués that you send to your clients and potential clients. For example, why not ignite their imaginations with information about equity-based crowd-funding that specializes in real estate investment opportunities. I recently interviewed the co-founder […]
Posted on 12. Aug, 2014 by Alexis Hammond.
If you’re using Quickbooks to run your property management business, you may be experiencing common frustrations as you continue to grow. As a basic accounting software, Quickbooks only covers a fraction of your day-to-day property management activities. Learn more with this important slideshow on the reasons why your property management business may have outgrown Quickbooks. […]
Posted on 05. Aug, 2014 by Mary Girsch-Bock.
I understand that most of us are averse to change. Just the thought of changing a familiar product can make the most competent people break out into a cold sweat; even if that familiar product has resulted in more work and increased mistakes. Let’s take a quick look at some of the repercussions of Jill’s […]
Posted on 31. Jul, 2014 by Alexis Hammond.
This easy guide and checklist lays out the steps in detail for you to start modernizing your business today. Stop wasting time with outdated processes and archaic resources and start spending more time streamlining your workflow and growing your business! This guide offers tips you won’t want to miss, including: How to reinvigorate and empower […]
Posted on 31. Jul, 2014 by Mary Girsch-Bock.
Once upon a time there was a woman we’ll call Jill. Jill worked in a fairly large property management company that handled both commercial and residential property management, so Jill was kept busy. When Jill became a property manager, she was trained on the company’s property management software. The software was adequate, but didn’t perform […]
Posted on 15. Jul, 2014 by Marc Courtenay.
Property managers work hard for their money. Everybody talks about increases in the cost-of-living and rents rising, but how about the people who make rentals available? Yes, I’m referring to your clients the owners, and you, the liaisons between the residents and the “landlords”. When’s the last time your clients called and said, “You deserve […]
Posted on 19. Jun, 2014 by Marc Courtenay.
Whether you’re following your passion or just trying to be successful at what you do for a living, it always counts to be in that esteemed group we call “outstanding”. There is more research surfacing that gives practical guidance on the characteristics of those who flourish and those who flounder. It’s not just motivation that […]
Posted on 03. Jun, 2014 by Marc Courtenay.
Other than filling vacancies, there are few topics more important for Property Managers than how to make sure your residents pay their rent on time and securely. From a behavioral vantage point, there are several effective ways to empower residents to pay their rent or lease payment on time, month after month. Here are three […]
Posted on 03. Apr, 2014 by Alexis Hammond.
Do you know where your property management business is wasting money? Take this 3-minute quiz and instantly uncover new and hidden ways to save money and increase profits in your business. More savings in your business today means more money to invest in growing your business tomorrow!