Tag Archives: business

Property Management’s Golden Rules

Property Management’s Golden Rules

Posted on 18. Dec, 2014 by .

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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 […]

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Simple Ways to Fill Vacancies Quickly, Carefully, Intelligently

Simple Ways to Fill Vacancies Quickly, Carefully, Intelligently

Posted on 16. Dec, 2014 by .

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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 […]

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What Do Rentals and Vacancies Look Like in 2015?

What Do Rentals and Vacancies Look Like in 2015?

Posted on 11. Dec, 2014 by .

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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 […]

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Make 2015 Your Best Year Yet!

Make 2015 Your Best Year Yet!

Posted on 09. Dec, 2014 by .

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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 […]

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Housing Data Confirms Contradictions, Favors Rentals

Housing Data Confirms Contradictions, Favors Rentals

Posted on 27. Nov, 2014 by .

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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 […]

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Learn New Tactics From The Hospitality Industry

Learn New Tactics From The Hospitality Industry

Posted on 06. Nov, 2014 by .

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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  

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Looking at the Big Picture

Looking at the Big Picture

Posted on 04. Nov, 2014 by .

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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 […]

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Renters are here to stay

Renters are here to stay

Posted on 30. Oct, 2014 by .

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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

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Property Managers, Here’s How to Increase Your Income

Property Managers, Here’s How to Increase Your Income

Posted on 28. Oct, 2014 by .

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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 […]

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Do Green Property Managers Attract More Considerate Residents?

Do Green Property Managers Attract More Considerate Residents?

Posted on 16. Oct, 2014 by .

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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 […]

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How Do You Compete With The New Apartment Communities?

How Do You Compete With The New Apartment Communities?

Posted on 09. Sep, 2014 by .

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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 […]

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Refreshing Suggestions from a Seasoned Property Manager

Refreshing Suggestions from a Seasoned Property Manager

Posted on 03. Sep, 2014 by .

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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 […]

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Property Managers Put Clients on “Bubble Alert” for Fiscal Planning

Property Managers Put Clients on “Bubble Alert” for Fiscal Planning

Posted on 28. Aug, 2014 by .

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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 […]

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Property Managers Can Offer Clients a Piece of Crowd-funding Action

Property Managers Can Offer Clients a Piece of Crowd-funding Action

Posted on 19. Aug, 2014 by .

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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 […]

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[Slideshow] 8 Reasons Why Your Property Management Business Has Outgrown Quickbooks

[Slideshow] 8 Reasons Why Your Property Management Business Has Outgrown Quickbooks

Posted on 12. Aug, 2014 by .

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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. […]

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The Joys of Technology Integration – Part II

The Joys of Technology Integration – Part II

Posted on 05. Aug, 2014 by .

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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 […]

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Boost Your Business into the 21st Century: A Step-by-Step Guide for Property Managers

Boost Your Business into the 21st Century: A Step-by-Step Guide for Property Managers

Posted on 31. Jul, 2014 by .

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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 […]

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The Joys of Technology Integration – Part I

The Joys of Technology Integration – Part I

Posted on 31. Jul, 2014 by .

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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 […]

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How Property Managers Can Increase Their Earnings in Today’s Economy

How Property Managers Can Increase Their Earnings in Today’s Economy

Posted on 15. Jul, 2014 by .

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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 […]

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Being a “Remarkable” Property Manager

Being a “Remarkable” Property Manager

Posted on 19. Jun, 2014 by .

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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 […]

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3 Ways to Help Your Residents Pay on Time

3 Ways to Help Your Residents Pay on Time

Posted on 03. Jun, 2014 by .

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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 […]

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3 Minute Quiz: Discover Hidden Ways You May Be Wasting Money

3 Minute Quiz: Discover Hidden Ways You May Be Wasting Money

Posted on 03. Apr, 2014 by .

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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!      

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The Anatomy of Your Business and How to Reinvigorate It

The Anatomy of Your Business and How to Reinvigorate It

Posted on 25. Mar, 2014 by .

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As your business evolves and grows your role as a property manager needs to be crystal clear to you, your clients and the residents you serve. Notice I listed “you” first. If you don’t fully grasp all the various roles that you’re playing in your business, how you prioritize your time and what is falling […]

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Why You Shouldn’t Use Excel As Accounting Software

Why You Shouldn’t Use Excel As Accounting Software

Posted on 19. Feb, 2014 by .

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First, let me confess that I love Excel. Having used Excel for years, I’m fully aware of its strengths, and will continue to use it to create spreadsheets, graphs, and tables. But for some unknown reason, there is a small group of property managers that continue to extol the benefits of using Excel as their primary accounting software.

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