Create Relationships With Neighbors Builds Value

Part Three in the Life is More than Bingo for Today's Seniors

Seniios in Neighborhood

A successful Senior Citizen Apartment community will create relationships with neighbors to build a supportive environment or a network of its residents.  While the active individuals categorized as senior citizens have no interest in housing that is typified as a senior center, congregate living or what might be referred to as the old folks home.  They are likely to look […]

There’s More to Life Than Bingo, A Lifestyle Choice for Seniors

Living An Active LIfestyle

December has the calendar designation for National Bingo Month.  B-I-N-G-O serves as an interesting outline for a discussion on “Senior Housing.”  The individuals currently identified as seniors have different housing needs and expectations than the population that occupied senior housing at the turn of the century.  The multi family housing options for senior citizens has […]

Rent is Due! Due on the 1st, or Late on the 5th?

A property’s performance is measured by two components. The ability to generate revenue and the ability to control expenses, resulting in the Net Operating Revenue.  Revenue is the product of rent collection. Rental revenue generated by occupancy and related fees are the driving forces for revenue generation. Without effective rent collection, achieving an occupancy goal […]

Try This Question For Hiring New Leasing Staff

“Do you talk to strangers?”  Ask a leasing candidate about a conversation with a stranger.  It’s a good starting point to understand how easily they can connect and establish rapport. The answer to this question from a prospective leasing consultant gives you some insight into their character and personality.  Interview questions for an individual without […]

Property Performance Progress; Analyze and Adjust

Is your property ready for a mid-year report card?  With the end of June, just days past, take this opportunity to review your property’s achievement or progress toward its goals. is occupancy meeting or beating projected results? how do the year to date expenses compare to the budget?  How do they compare to the expense […]

Seven Steps To Increase Occupancy With Resident Retention

Many property management reports focus on occupancy. Every week we analyze the number of move ins and the pending preleases.  But our progress is undermined by the number of move outs and the pending move out notices.  Here’s the value of our lease renewals.  The number of lease renewals is every bit as important as […]

Keys To An Effective Team Meeting

Team meeting

Do you have a team meeting to start your week? Share the leasing goals for the week. Report results from the prior week. Ask for input on supplies to be ordered. Knowledge Creates Ownership Including your team in these discussions creates the opportunity for ownership in your property and its operations. All too often, the […]

The Silent Treatment, Overcoming The Just Looking Response

Questions

Imagine a leasing consultant returning from an apartment tour. It’s an apartment with a less than great view, it’s been vacant for 45 days. It’s on this weeks focus “hot” list. The manager asks, “How did it go, did you get a deposit?” The leasing response, “Great, they didn’t even comment on the view! They’re […]

Adding Up Late Rent Losses

How is an apartment community affected by late rent? Unpaid rent obviously affects a property’s financial performance. It’s lost or at least delayed revenue. Expenses related to unpaid rent start with filing fees, court costs and attorneys.  However, the impact on the property greatly exceeds these financial costs. The amount of time dedicated each month by […]