Property Management: The High Cost of Allowing Smoking in Apartments
Research is showing that it costs at least 3-4 times more to turn an apartment unit if it was inhabited by a heavy smoker, reaching as high as $15,000 in extreme cases.
Property management involves the processes, systems and manpower required to manage the life cycle of rental housing properties, including acquisition, control, accountability, responsibility, maintenance, utilization and disposition. There are many facets to this industry and profession and PMI covers them all.
Research is showing that it costs at least 3-4 times more to turn an apartment unit if it was inhabited by a heavy smoker, reaching as high as $15,000 in extreme cases.
Don’t laugh, but I’m still working from an iPhone 4. By today’s technology calendar, I’m light years away from being up to date. At a recent conference, a young colleague laughed and said he didn’t know anybody who still had one. A search on Apple’s website for anything iPhone 4 yields no results. While it’s[…]
It’s crucial for property management professionals to find innovative ways to connect with prospects and generate business, and social media is a powerful tool to help. Here are some of the latest social media marketing trends to watch: Twitter Cuts Vine Last week Twitter announced the shutdown of Vine, their popular short-form video platform. This news[…]
We continue to track the Twitter-based chats going on between property managers on Apartment Chat glean smart management tips. The theme of a recent chat was “Philanthropy and Community Involvement.” It was based on the fact that the huge number of people across the country who live and work in apartments can constitute a large[…]
The Return of the MOR: No, that is not the title of an old horror movie, but many in the affordable housing industry are horrified at what this means. Rest assured—in this article, we’ll provide the background information and tips you need to be prepared for a Management Occupancy Review, or an MOR. The History[…]
What an apartment owner or manager doesn’t know about accessibility compliance can literally be costly. Properties that are non-compliant to provisions of the Fair Housing Amendments Act of 1988 and American’s With Disabilities Act of 1990 subject themselves to millions of dollars in damages. Most often, violators could prevent such exposure if only they’d fully understood[…]
It’s crucial for property management professionals to find innovative ways to connect with prospects and generate business, and social media is a powerful tool to help. Here are some of the latest social media marketing trends to watch: Pinterest Hits 150 Million Looks like things are about to get even more “pinteresting”. This month, Pinterest[…]
The recent jury award of $800,000 to a Maryland renter for a bed bug infestation could understandably have the multifamily and rental housing industries a little on edge lately. Is this lawsuit settlement a harbinger of things to come? Possibly, but at the very least the case highlights a growth in bed bug lawsuits nationwide.
Reaching Gen Z may seem more akin to throwing darts at balloons on a spinning wheel. The generation lives on multiple devices, drifts back and forth from one to the other and checks in multiple times each day. Maintaining pace with this ever-mobile generation now entering the housing space is creating quite a stir. Like[…]
Virtual apartment tours enable marketing teams to lure prospects into units with accurate renderings of what life can be like in a community, just one example of how technology has shaped multifamily housing. That same technology is helping create a similar look and feel of the property’s landscape, long before the first shovel of dirt[…]
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Multifamily owners will sometimes find themselves non-compliant because of a misinterpretation of th...
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When it officially stamps hoarding as a disorder in May, the American Psychiatric Association will c...
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