Expense Management

There is more to expense management than just reducing costs and operating expenses. It also involves streamlining and automating processes, identifying inefficiencies, and taking control of energy consumption and spending. These articles will steer you in the right direction.

Property management system check

Your Apartment Property Management System Health Check

Times are a-changin’ in the rental housing market. Growing market demand pushes occupancy to the limit, making a property look good at first glance.—but a deeper look into the property may reveal a different story. Checking your Property Management System Health Good property health goes beyond maintaining high occupancy, low overhead and consistent rent collection.[]

How Property Management Software can Help you Deal with Difficult Residents

Using Software for Handling Resident Needs There are varying approaches to handling difficult residents, an unenviable challenge for any property manager no matter how long the tenure in the multifamily housing business. Some industry experts suggest a formula of professionalism, firmness, and compassion to manage residents who are either overbearing or pesky. Others may want[]

Spend Management Technology

3 Ways Spend Management Software Can Streamline your Purchasing Process

How you manage your money can make or break your property management business. In good economic times and in bad, it’s important to keep costs under control and reduce spending when possible. Tasked with streamlining your accounting process? Worried about letting money fall through the cracks? Start saving by embracing spend management and technology, and[]

Testing the Benefits of Smart Home Technology

Margette Hepfner imagined what her morning would be like in the smart apartment of the future: She would awaken to the television, cued to turn on at 5:15 a.m. The lights begin to gradually brighten so she doesn’t have to squint while walking to the kitchen, where coffee is already percolating. The barcode reader near the[]

Why Renters Insurance Works for Residents and Property Owners

Slowly but surely, the rental industry is doing a better job of convincing renter’s that they need insurance. A 2014 Insurance Information Institute poll conducted by ORC International found that only 37 percent of renters have renter’s insurance, up eight percent from 2011. The number has steadily grown since 2006, when about seven million policies[]

The Big Changes Coming to Water Heater Standards

Replacing an apartment water heater that is already a tight fit may pose a big challenge for properties starting next year. With the addition of more insulation, residential water heaters are expected to grow to meet National Appliance Energy Conservation Act of 1987 efficiency mandates that go into effect April 16, 2015. Water heater manufacturers[]

Spend Management: Save Money by Standardizing your Property

The scenario is all too common in the multifamily housing industry. An apartment portfolio will unnecessarily spend itself out of a good thing. The fruits of years of planning and executing the next move in a major market or acquiring a new set of properties are slower to come simply because a spend management program[]

5 Easy Tips to Help Managers Improve Forecasting

Budget preparation for 2015 is entering the home stretch for many companies, and soon performance will dictate how well the numbers have been prepared. How well a budget performs is determined by a number of factors, such as changing economic conditions, market behavior, and management practices. Consistent forecasting helps leadership see a snapshot of where[]

ENERGY STAR® includes Broader Scope of Apartments in Rating System

The multifamily housing industry finally has its long-awaited energy rating system that now covers the whole nine yards. In September, the Environmental Protection Agency (EPA) rolled out its new 1-100 ENERGY STAR rating system, culminating a three-year effort to create an equitable energy efficiency scoring system for multifamily properties. Beginning Sept. 16, apartments of all[]

The Consumer Shift to Private Label Products

Private label products are gaining ground over national labels, having eclipsed sales in recent years. Will these brands continue to prove themselves and keep customers returning? How will this behavior affect the apartment industry? Catchy slogans and unforgettable jingles have lured America to name-brand products that have become household names for generations. Characters and role[]

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