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.
As discussed in RealWorld 2018 sessions From paper clips to file folders, and filing cabinets to computer systems, the process of storing, managing and organizing documents is as old as paper itself. And in real estate, managing documents like contracts and vendor agreements is crucial to running a healthy business—especially when you’re dealing with multiple[…]
As discussed in RealWorld 2018 sessions Operating a property management company today means exposing your business to risk in a variety of forms. Not having a safety net—a true risk protection plan—could be the biggest risk of all. Of course, risk means economic loss—the kind that erodes gross revenue and NOI. According to LifeLock®, while[…]
As discussed in RealWorld 2018 sessions. A question many senior property management professionals may ask themselves is, “When it comes to leads, why are we still struggling with occupancy?” As with most business challenges, there’s not just one, but several reasons for this: there just aren’t enough leads to meet the supply; the leads you[…]
You’re sitting on a student housing gold mine. But you might not even be aware of it. No, we’re not talking about your student properties themselves. We mean the data they’re spinning off day in and day out that can help you optimize asset and portfolio performance. Only in the past decade has this become possible,[…]
The Internet of Things (IoT) has taken the nation by storm. However, its value to an apartment operation is as varied as the nation’s rental product itself. While home chore automation and security have inspired a surge of innovation and enthusiasm, a more direct and obvious driver of cost recovery is already in place for[…]
Surveys gauging how renters use technology to rent and live at apartments are taking on a sense of urgency at SatisFacts and ApartmentRatings.com. Because more renters are finding their homes on mobile, tablet and desktop applications, the leading multifamily research firm is going back to the well more often. Since the first technology-oriented survey emerged[…]
April’s Texas Apartment Association 2018 Education Conference was time to absorb not only some good fare and a slow stroll on the Riverwalk but emerging trends in the apartment industry. And maybe a moment to wishfully think about the chances of winning the raffle for a 2018 Alfa Romeo Giulia that sat behind ropes on[…]
Solid occupancy numbers often blind senior living property managers to a glaring problem: the cost of keeping those units full. Add up what you’re spending on third-party lead sources along with internal resources devoted to working leads and you’d probably be shocked at your cost per lease. The good news is that forward-thinking senior property managers[…]
Stay in compliance when residents ask for companion or support animals While the multifamily housing industry has become pet friendly, some furry friends are catching the ire of property managers. Residents carrying in their pets under the guise of them being companion animals are leaving some apartment operators worried about fair housing issues if they don’t[…]
In multifamily marketing, more leads equals more leases, right? If the number of web hits, emails, texts and calls could determine the success of a property, America’s multifamily properties would be happily stuffed with tenants year-round. But only about a quarter of leads are sales-ready, and the other 75 percent require follow-up communications that often[…]
Earnings matter. This is as true in energy, industrials and consumer staples as it is in real estate...
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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