You Can’t Buy Experience, The Value of Long Term Teams

Possibly the most valuable asset in property management is the experience of the onsite management team. Properties with tenured, long time employees benefit from: development of annual systems. they have noticed, realized and anticipate occupancy trends. they create and build relationships with residents, which improves resident communication, rent collection and resident retention. Preventive maintenance is […]

A Passing Comment Can Create Referrals

Referrals

Where does your leasing traffic come from?  In many cases, referrals are a strong contributor to the sources of traffic at a property. The days of depending on a newspaper advertisement to be your leading source of traffic are long gone. Internet ads, locator services are among the sources that put information at prospects fingertips […]

Preventive Maintenance, Taking The Time Saves Time

Schedule

How do you find the time to include preventive maintenance in a schedule that is hard to predict?  The volume of service orders varies from day to day.  Leasing always seems to need the one apartment that isn’t ready. “Preventive Maintenance can save time, and money for maintenance operations.  Building components like a water heater, […]

Referred By…..Encouraging Referrals From Former Residents

Referral

We constantly analyze guest cards.  Identifying any trends or adjustments in how prospects are learning about our community.  With increasing exposure on a variety of internet locations,  general referrals and “word of mouth” continue to dominate the source of prospective residents. Why are these people talking about your community? In some cases, it is your current […]

“Here’s Your Form,” The Response To A Move Out Notice

Move out

The phone rings, its a resident calling to have us explain the process to give their move out notice. The standard response usually includes a question about when their lease ends, quoting either the 30 or 60 day lease termination notice and/or the lease break policy with a closing remark that the notice must be […]

The Value of a Move In Concession

The value of dollars off move in specials and discounted rent concessions is often discouraged by marketing experts.  Some of the negative impact from concessions are: -The value is short lived. -Impacts renewal rates. -Frustrates existing residents. Matching the Market In many markets, property managers experience competition where every property is utilizing concessions. The prospect […]

Spring Forward , Its Time To Check Your Smoke Detector

The change to Daylight Savings Time is a calendar point when  residential home owners are encouraged to check the smoke detectors in their homes.  Could residents in apartment communities be encouraged to do the same?  Time and time again, fires are reported with fatalities.  It’s hard to understand how this happens with the range of […]

Turnover Totals, The Financial Benefit of Reducing Moveouts

The related costs of apartment turnover are often included in discussions of the impact of move outs on an apartment community. Rent loss due to days vacant. Marketing expense to advertise for potential residents. Time and expense to screen and process potential residents. In addition there are the obvious related expenses: Maintenance labor Miscellaneous prep […]

Preventive Maintenance is Customer Service

Service

Unit inspections are often viewed by residents as an intrusion into the privacy of their home.  Could this annual, semi annual or quarterly event be viewed as an apartment service appointment? Improving Performance Explaining to residents its time to service the furnace, water heater or air conditioner in their home offers a positive explanation for […]