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.
In the steady churn of multifamily properties, a portfolio’s I.T. integrity can get lost. New acquisitions or operator changes can leave a company behind the times – and sometimes vulnerable – when on-boarding information technology, whether making improvements to existing equipment or starting anew to sync with the corporate office. In most cases, upgrades of[…]
Only 35 Affordable and available rental homes exist for every 100 extremely low income (ELI) renter households in the United States, according to the National Low Income Housing Coalition. Affordable property owners and managers are tasked with meeting demand through limited resources, and they must exercise cost control to ensure operations are most efficient. “As public funding[…]
It’s an odd fact that small to mid-sized property management companies are less likely to use a formal learning management system (LMS) than are larger companies. Just as with larger businesses, employees are their most expensive and valuable asset, and arming them with both industry knowledge and job-specific training is critical to having them achieve[…]
Not many multifamily IT departments can say that they make a direct positive contribution to the bottom line. The administrators, technicians and engineers who keep property management computers running, linked to the internet and out of harm’s way are usually viewed as a drain on expenses. “Most IT departments are considered a black hole,” says[…]
The apartment industry has been no stranger to supplementing the rent roll by offering short and long-term rentals over the years. Owners and managers have stuck their toes into corporate housing, some providing designated blocks of units to accommodate executives and new hires at local companies and others working on a per-business basis to provide[…]
Managing Affordable Housing brings a unique set of complexities compared to other forms of rental housing. Professionals in the Affordable industry must ensure that the property and/or portfolio is working within the rules of United States Department of Housing and Urban Development (HUD) and other regulatory agencies. But doing so doesn’t have to be a daunting[…]
The multifamily housing industry, traditionally a step or two away from the cutting edge, is learning to embrace innovation at a time when the globe isn’t sitting still. Today, world leaders and innovators are asking “why not?” and willing to push advancement to the brink, sometimes for the unimaginable and often with risk. Many are[…]
Online payment adoption is rising steadily in conventional multifamily and leading to the expectation of more self-service opportunities for renters. Recent industry information shows a continued shift of traditional payment methods away from the leasing office. Since 2015, paying rent on line has increased and estimates are that 55 percent of the apartment industry will[…]
A lot has happened to the energy management market in the last 20 years. A few decades ago, pricing was steady, except for when utility companies filed for an increase because they didn’t achieve a desired rate of return over time. As they frequently went to the well, the game began to change. State legislators enacted[…]
As discussed in RealWorld 2018 sessions Energy prices rarely stand still, but lately, utility costs have been far more unpredictable. And, if it continues, that could be a concerning trend for multifamily energy management. Is your multifamily business prepared for the hit it might take on utilities? Some organizations are taking proactive precautions. Some are[…]
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Congratulations! You have a fantastic product. Newsflash! Your competitor has a fantastic product, t...
Multifamily owners will sometimes find themselves non-compliant because of a misinterpretation of th...
An automated vending machine generating $2,500 in weekly revenue is most likely not selling just can...
When it officially stamps hoarding as a disorder in May, the American Psychiatric Association will c...
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