What are the Benefits of Paperless Document Management?

Property management companies deal with a massive amount of files and documents each day, from the corporate office to the site level. Apartments leave a large paper trail, which can create a number of problems. Reduce.org cites that the average office worker uses 10,000 sheets of paper annually and nearly 70 percent of that winds[]

The Benefits of Multifamily Energy Benchmarking

Over the last few years, the multifamily industry has been exposed to terms like benchmarking, sustainability and Energy Star Portfolio Manager (ESPM). These terms may be familiar to some with exposure to other markets, but they are alien to many of us in multifamily. To add more fuel to the fire, several cities, a couple[]

How to Master Affordable Housing Management

The recently passed Consolidated Appropriations Act of 2018 provides Affordable property owners and operators an additional Low Income Housing Tax Credit (LIHTC) for federal Set-Aside – Income Averaging. It comes with a new set of complicated rules and regulations, but navigated correctly, the measure can have some real advantages for the Affordable Housing industry. In[]

7 Ways to Make Budgeting Season Less Painful

Yes, it’s arrived, like a distant relative who you wish would not visit and definitely not stay. It’s budgeting season. A regional manager once quipped, “I’d rather have root canal surgery once a week than create the budget.” Ouch! Why is this such a dreadful time of year? The year is making the turn to[]

Six Ways Revenue Management Software Benefits B and C Properties

Revenue management has become fundamental to property management, and many companies are overcoming the perception that it’s only for the big portfolios and those expansive Class A palaces. Class B and C properties are reaping the benefits of the analytical process for determining the right rent for any property in any market phase and at[]

Pump Up the Volume: How to Maximize Lead Conversion

Apartments that miss leasing inquiries or wait too long for follow-up with prospective renters may be throwing away money. Multifamily call center data shows that more than half of email and text inquiries come in after business hours and conversion rates drop the longer it takes for the property to respond. Industry experts say that[]

Still Using Excel or Quickbooks for Investment Accounting? It’s Time to Reconsider.

For the sake of ease, speed, accuracy and professionalism, many large GP’s and LP’s have heavily invested in new software for investment accounting. But the same can’t be said for many small to mid-market firms. While the benefits are equally powerful for smaller firms, the price of the software and implementation services (traditionally ranging anywhere from $150,000[]

Romancing the Renter: Proven Strategies for Higher Retention

Multifamily housing is filled with competition on every street corner. To stand out, operators obviously need to show some love to prospects and residents but the courtship goes beyond dropping off a gift basket. Engaging renters and providing that amazing living experience requires some romancing. The way to their hearts – and their rent –[]

What’s Ahead for the Affordable Housing Industry?

One of the most challenging obstacles that the Affordable Housing Industry is facing today is the difficulty to attract, hire and retain talent into their businesses. With a low unemployment rate and such a specialized industry, as it deals with many federal and state regulations, the markets are very competitive for the talent available. RealPage[]

Top Five Digital Marketing Trends for Multifamily in 2019

Top Five Digital Marketing Trends for Multifamily in 2019

According to MarketWatch, the average adult in the U.S. spends more than 11 hours a day interacting with online media. As a multifamily marketer, you must know how to rise above the noise and grab consumer attention. It’s important to keep up-to-date with the latest trends in the digital marketing landscape. The top five digital[]

Submeters in the Balance

A little more than a year into California’s mandate of submetering on all new apartments, water conservation continues to be a hot topic. Effective Jan. 1, 2018, California SB-7 took effect and dashed the future of master metering. All new apartments are now required to meter individual consumption and provide billing on each unit. The[]

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