Would anyone have any advice/resources on getting up to speed owning and managing tax credit/ affordable housing. Wisconsin related. Thanks in advance!
Read More...
Happy New Year!
Weird topic/question for the group: Does your company have a "see something, say something" policy? (Abuse, neglect, etc)In CA , PM employees are not considered mandated reporters(per extensive research).
What is your company approach?
TIA for your sincere thoughts on this. It is a...
Read More...
I work on the vendor side now, but spent over 15 years on-site. I recently started looking for an apartment for the first time in 16 years.
I am amazed at the number of sites I’ve visited or messaged that will not show an apartment if there is only one person scheduled to be in the office at a certain time. When I was on-site, we simply put a note on the door and showed apartments.
Is that a common practice now?
For reference, this is in the DFW...I work on the vendor side now, but spent over 15 years on-site. I recently started looking for an apartment for the first time in 16 years.
I am amazed at the number of sites I’ve visited or messaged that will not show an apartment if there is only one person scheduled to be in the office at a certain time. When I was on-site, we simply put a note on the door and showed apartments.
Is that a common practice now?
For reference, this is in the DFW area of Texas.
Show more
Working in multifamily is watching The Avengers for the first time with my husband, and saying outloud:
“Who’s handling all the insurance claims? The tax aid? The incident reports? They literally just destroyed that mid-rise in seconds. Would this be considered a lease break? That poor property manager. I hope they’re okay.”
And I think, for that reason, I believe I am officially the least fun person to watch a movie with.
But it’s FINE. ☠️
Onboarding new residents is a pivotal part of property management, setting the tone for their experience and establishing a foundation for positive long-term relationships. Traditional methods like emails, printed materials, and phone calls can sometimes lead to missed details or delayed responses, creating friction points that affect a resident's first impression. Text messaging offers a modern solution that addresses these challenges with immed ...
Would anyone have any advice/resources on getting up to speed owning and managing tax credit/ affordable housing. Wisconsin related. Thanks in advance!
Read More...
Recent migration data from the US Census Bureau, U-Haul, and United Van Lines reveal a strong trend of Americans moving to low-tax states in 2024.
South Carolina saw the highest population growth from domestic migration, up 1.26%, followed by Idaho (0.83%) and Delaware (0.79%). On the opposite end,...
Read More...
As the new year begins, property management professionals have the opportunity to reflect on foundational practices that ensure both compliance and operational excellence. Among these, few aspects are as critical as robust fair housing policies, well-defined procedures, and professional written communication. These elements not only safeguard against legal risks but also foster trust and professionalism in interactions with residents, prosp ...
How do you handle people that just will not stop with complaints that waste your time (yet still be kind and professional)?? Time wasters who suck the life out of your day over extremely minor or not real issues??
For instance, I have a man who insists his water/sewer bill should be lower (it’s already low!!!!) . He’s has called the city utility dept and also the utility billing provider questioning why his bill is like….$40. Insists he was...How do you handle people that just will not stop with complaints that waste your time (yet still be kind and professional)?? Time wasters who suck the life out of your day over extremely minor or not real issues??
For instance, I have a man who insists his water/sewer bill should be lower (it’s already low!!!!) . He’s has called the city utility dept and also the utility billing provider questioning why his bill is like….$40. Insists he was traveling for extended time and that there should be much less reported usage! They tell him to speak to the property manager. Now he’s back for a 3rd time to our office and tells me he wants 20 mins of my time to discuss this, and the usage calcuations as he now believes it’s a building related issue and that he’s getting a run around from everyone. He is literally the only resident complaining about water usage. It’s likely because he is retired and has the time to deep dive into small things and doesn’t care how many times he infringes upon people’s work day. While he is a nice man, he’s also stern and loud and expects action be taken or he’ll return for another round of wasting your time to follow up. He has tried to give me tips on how to better manage the property and how we need to enforce fines upon people more often. He just goes on and on, meanwhile I’m not accomplishing things as he essentially wastes my time.
Show more
Would love some feedback from this dynamic and illustrious group!
What are the most high-end, multifamily high rise buildings across the country that are setting NEW, top of the market trends and service levels/offerings? Preferably with curated concierge services, private club amenities and services.
Let's face it, utility billing isn't winning any awards for excitement. It's not the Tesla of rental operations. It's not shiny, futuristic, or likely to inspire your residents to brag about their complex at cocktail parties. But here's the thing: just because it isn't glamorous doesn't mean it isn't a game-changer. Utility billing is like the fiber in your diet—quietly working in the background, making everything function better. Ignore it, and ...
Breaking news, but not really. AI Leasing products continue to sweep the world and...! change our lives for the better? Sometimes, but usually not. AI is EVERYWHERE these days. It comes preloaded on your new cell phone, your email provider keeps prompting you to enable the newest AI features, and one day, in the not too distant future, "Google it" will be replaced with "Ask ChatGPT".When we say AI these days we mean Generative AI. Generative AI i ...
Multifamily Website and Branding – Which Do You Need?For multifamily operators, the difference between a property that draws in residents versus one that gets passed over often comes down to branding and a website. Think of them as the foundation and structure of a building—both critical, interconnected, and serving unique roles. If you're unsure whether your property needs a new website, a complete branding overhaul, or both, this guide ha ...
HUD has approved new underwriting parameters on multifamily projects, effectively lowering the minimum DSCR threshold and the raising the maximum LTV or LTC thresholds. These changes benefit refinance and acquisition projects via the 223(f) program, as well as new construction and substantial rehabilitation projects via the 221(d)(4) program, by increasing available loan proceeds in most situations.
Additionally, HUD has created a "Middle...HUD has approved new underwriting parameters on multifamily projects, effectively lowering the minimum DSCR threshold and the raising the maximum LTV or LTC thresholds. These changes benefit refinance and acquisition projects via the 223(f) program, as well as new construction and substantial rehabilitation projects via the 221(d)(4) program, by increasing available loan proceeds in most situations.
Additionally, HUD has created a "Middle Income" underwriting category for the 221(d)(4) program. This category effectively broadens the more aggressive underwriting metrics designated for affordable projects to a larger swath of the market. Middle Income requires a minimum of 50% of a project's units be restricted to 120% AMI or less, with a recorded use restriction monitored by a public agency.
Show more
Does anyone create like a monthly newsletter for their residents? If so, what’s the best way to go about it?
Read More...
Revised: I am seeking information for two things Liberty Rent and Second Chance Leasing- nothing outside of that.
I appreciate the information but also realize everyone’s time is valuable and I don’t want to waste it.
Hello,
I am looking for real experiences regarding two topics: Liberty Rent...
Read More...
There is a good amount of free material on youtube. I used to keep a playlist of basic and intermediate LIHTC videos on youtube but I havent checked yt and updated in several years as I no longer work in affordable housing.