Unlocking the Mystery of Maintenance Expenses

maintenance expenses

“Here’s the list of the maintenance supplies we need.” Maintenance Expense is the area of the budget where there always seems to be more move outs in a month than dollars in the budget. Every week a stock of supplies is ordered.  This results in overrunning the budget.  Workorders have to be completed.  Apartment turnovers […]

From Filth to Feature, The Hidden Value of an Air Filter

The act of changing a furnace/air filter is probably as unglamorous and unrecognized as any task that our team faces on a daily basis.  Have you ever received a comment card that stated, “Tom changed my air filter today?  He’s my hero!” Yet, this simple service, installing a filter.  A filter that may cost a low […]

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 […]

Adding Up 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 […]

Just Grounds…Just the First Impression

Curb appeal

  Coveted by property managers far and wide is an individual with the knowledge and skill to plan, execute and care for grounds. The appearance of the grounds is the first impression. Hiring or discovering someone on your management team is blessed with a green thumb, strong knowledge of grounds, is truly a treasure. Most […]

A Passing Comment Can Create Referrals

Referrals

Understanding the places where prospects learn about our property is key to influencing our advertising dollars are spent.  We have an opportunity to increase the occupancy at our community simply by the conversations we have with local businesses. We can create referrals.  Referrals are a growing contributor to the sources of traffic at an apartment community. […]

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 […]