I have a question for y'all ~~ how do you feel about doing major renovation to occupied units? I am not talking about painting, I mean asking the occupant/s to remove EVERYTHING from the cabinets, drawers, fridge, stove, countertops in baths, kitchen & closets. Yea or Nay?
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When asked, many operators will say they only accept digital payments and their communities are 100% paperless. However, after further exploration, we realize there are many exceptions, such as past resident payments, residents in eviction status, or even new move-ins, where many site team members will accept a paper payment. The fact is that nearly half of renters still pay by check or money order. Ensuring a consistent revenue stream is fundame ...
A live-in aide request. For properties like senior living communities, this is a regular request, and the procedure is memorized by many of the staff. But are your procedures up to date with the Fair Housing Act? For other properties, these requests aren't all that common and can cause some stress due to lack of experience. What are some of the nuances you should be aware of? Let's break it down.Remember, Disability Is a Protected CategoryW ...
The multifamily industry finds itself at a crossroads, grappling with insurance rate increases across every asset class. For those who own and operate multifamily properties, the sharp rise in insurance costs is more than just a budget line item; it's a significant operational challenge.Here, we'll explore the current challenges in the multifamily insurance marketplace, examining the underlying causes of these rate hikes and offer actionable risk ...
Exploring the Perception Divide Between Pet-Friendly and Pet-Inclusive Rental Housing In recent years, the relationship between humans and their animal companions has evolved dramatically. Pets are no longer just animals; they're valued members of the family, deserving of love, care, and accommodation. This shift in perception has significant implications, particularly in the realm of rental housing. Owners and property managers are no longer fac ...
Hello! Would love to hear ideas on different naming conventions for a floor plan with an additional area currently referenced as “Den” that is not enclosed, so no door or closet (picture on this post). Some options on the table 1 bed Flex, 1 bed XL….. now you go! Thank you.
It could also be a storage area for someone who needs a place for extra furniture or wheelchair storage.
1-bed 1-bath Deluxe
1-bed 1-bath with Suite
Does anyone have recommendations for a utility management company.
Trying to find someone who doesn’t charge fees for every little thing.
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Can you refuse to add someone on the lease just because they are disruptive?
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Otherwise I’d have turned away lots of applicants over time.
If they are being a disruptive guest though, then you should have been issuing lease violation notices to the resident. You’d need some sort of paper trail.
But I’d consult with your attorneys first as well. I’ve never had to ban a guest from the property before. Let alone one who’s potentially going to be a future resident.
If you do add them to the existing lease though, you could always non-renew them?
Doesn't the Covid-19 pandemic seem like it happened a lifetime ago?I remember at the very beginning of the pandemic, when no one had any information and everyone was freaked out, my husband went out in the early morning (to avoid crowds) to go grocery shopping. He was of course wearing rubber kitchen gloves but no mask, because at the time everyone thought Covid might be spread by touch. He got a huge haul, because who knew if the grocery s ...
Hi All. One of our properties is going to have a handful of more college students (townhome units). Was wondering if anyone has an addendum with regard to noise/parties? Our lease is already very detailed but I'm just looking to see what others do. We are not all student housing, but we have a property closely located to a private college and out of 61 units, we have about 6-10 or so with students. Normally there have not been too many issues, but I... Show more
I think putting them in a welcome letter isn’t a bad idea, or even summarizing the “respect your neighbors” rules on a separate form and require all residents to sign it on move in. You basically want them all to acknowledge the rules and perhaps the consequences of breaking them. Otherwise they will sometimes think they can claim ignorance and get away with it the first time.
Random question ~~ when remodeling a kitchen with new counters and sink, would you remove a working disposal? I mean, take it out and not replace it.
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So if you are asking if we put disposals in…depends. Some properties yes of course. Some other would end up being more hassle than worth it and wouldn’t impact income.
In today's high interest rate environment, interest only platforms may be the only answer for refinance for the short term. We are seeing several clients walking away from million-dollar buildings because the old interest rate was 2-3 %. Now the interest rate is 8-9%. Clients just cannot sustain the imbalance. Things are going to become quite desperate for many companies this year.
While it’s almost become a meme to comment on how “backward” the multifamily housing industry is when it comes to technology, the reality is much more nuanced now than it was back in 1999 when I first started leading the work that eventually resulted in LRO, the industry’s first-ever automated rent setting application. I was blessed to work with perhaps the most technology-forward operator of the time. Archstone was the first major ...
Property management is a multifaceted industry and as many successful property managers know you will need efficiency to scale and manage the business effectively. Property managers are the day-to-day lay level operators who are faced with a perpetual roller coaster of strategies that aim to to reduce operational inefficiencies. The uncomfortable part of such objectives is frequently overlooked by most property managers; namely, partnering with a ...
Key release’s are supposed to be simple. Yardi has an opt in for text communication which he is listed as yes. A friend comes in and needs a key. Knows resident by name, unit and phone #. We called resident twice and emailed. They called him, told us when they went to walk their dog, he left and may have thought they had key. After about an hour of them calling they texted him. He texts them back and says we have permission to give key. I see... Show more
Even though you matched numbers and saw a text- you don’t have any of that documentation.
But look, if what he said was truly destroyed or taken- then he will actually follow up. When police get involved and they don’t follow through. Likely not true and he didn’t realize the depths you would go through to validate his story.
Is your property management company drowning in reactive maintenance? Are surprise repairs, breakdowns, and frustrated residents eating away at your resources, budget, and bottom line? The good news is, there's a smarter way to manage your maintenance. Artificial Intelligence (AI) is revolutionizing the way we approach maintenance, ushering in an era of proactive problem-solving and optimized operations.Embrace the Power of DataImagine having a c ...
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22 MayEvent starts in:
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05 Jun -
12 Jun
Multifamily News
- Lawson Announces Promotion of Julie Richardson to Chief Operating Officer
- The Integral Group Breaks Ground on Wellspring Apartments
- The Integral Group Breaks Ground on Wellspring Apartments
- Jay Reed Joins Greystone Real Estate Capital as Assistant Vice President, Tax Credit Underwriter
- Resia Celebrates the Grand Opening of Resia Dallas West in Texas
All the things you would expect…
“They broke this”
“They used my toilet”
“My stuff is dirty”
It’s not like you’re replacing sheetrock, flooring or painting - where heavy items like beds/couches need to be moved.