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 […]

An Experienced Team Adds Value To Your Community

Marketing numbers

Possibly the most valuable asset in property management is an experienced 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 incorporated into the monthly […]

Discovering Cupholders is the Key to Create Features

Features

You probably know someone who has recently purchased a new car.   It’s all about the touch screen features, navigation, blue tooth, wi-fi connections, adjustable cup holders and maybe the average miles per gallon. No one has to tell you it has a motor, four wheels, or even a transmission.  Its a car, maybe an […]

You Signed A Lease; It’s A Contract.

Every manager and leasing person has experienced the frustration when a new resident challenges a policy or clause in their lease. I didn’t know: -The non-smoking policy would apply to my guests. -I had to have management approval to have a pet. -There would be a penalty if I moved outt before my lease is […]

Community Contacts Create Outreach Opportunities

    We are all chasing the elusive magic ticket that brings prospective residents to the apartment community.  We invest our marketing budgets in AdWords.  The staff is scheduled to update Craigs List.  With every visit, the guest card documents the source of traffic.  “How did you hear about us?”  And we drill down to […]