Love month is almost over! It is time to Spring into March & April. What are you doing to celebrate with your residents?Below are a few of my favorite things for this time of year.MARCHWhile March seems to be all about St. Patrick's day there are other things to celebrate.* Mach 3d is National Cold Cuts Day. because residents love food, this is an easy one to celebrate by simply having a selection of cold cuts, breads & topping set out fo ...
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.
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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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...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 just want to kind of add a little something to be ahead of any issues (usually loud parties, parking in places they shouldn't and not cleaning up their outside space). Just kind of thinking outloud. Thanks! Show more
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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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...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 this and reveries the number with ours. They said they needed to get their things. They had the fob and we gave key. 15 minutes later we see them leave with their carry on luggage.
Next day resident claimed he didn’t know them and we gave his key, and took stuff. As we conversed he admitted having them over and they have been overstaying. That they come to see him and cousin. Cousin has left country for awhile, and that they get on his nerves. Told them to leave. He changed story with me and police about how apartment was left etc. He had the guys name and showed me how many times they called. He said he didn’t answer right away as he was busy.
He said I should have called him more. I asked why he didn’t call us back. He even showed me their calls to him and mine. I verified text to the couple coming from his phone. Thoughts as he wants attorney involved and is blaming us. I wrote a step by step document with what transpired. I’ve yet to receive a picture of TV being hit. Of course he also had an unauthorized pet. neighbors ring cam shows them walking to door and turning knob as if it would be unlocked. Then shows he comes back and uses key. Talks to the residents dog and says “ hey, we are back”. Nothing that received shows them leaving over 4 videos. I know they did as i saw them. Thoughts?
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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 ...
We audited one of our student housing portfolios a few months back (about 12 properties), and identified ~$50,000-70,000 / year in bloated ad spend. If you are looking to do the same and potentially cut ad spend, read on…We started by implementing a CRM to track things like lead source, and lead stage in the pipeline. Powerful optimizations begin with good data. Once we'd collected a year's worth of data, we were able to do some actual analysis o ...
I have a client wanting to reduce fraud. (Isn’t everyone!)
I’ve used Checkpoint ID but had complaints with them manually verifying id’s (they did nothing) and the app not working when scanning id’s. Is there a good alternative?
Thinking of going with Snappt for POI verification. Are they the...
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