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.
Rising Retention Rates Last month, Jay Parsons of MPF research reported renter retention and renewals were on the rise. In fact, retention continues its 20-month run above 50% as renewal rates rise 5.4%. MPF Research provides data and insights into reasons why residents are renewing their leases despite rents increasing: MPF Research assesses recent general conditions in[…]
From setting rent rates to screening residents and managing payments, property management professionals often wear many hats. What are you currently doing to be successful? Multifamily industry leaders have the right resources backing them up, and here are our top seven must-haves to adopt for your property management business today: 1. Revenue Management Take the[…]
Making Windows Energy-Efficient Approximately one-third of a home’s total heat loss usually occurs through windows and doors, according to the Natural Defense Resources Council. Escaping heat and intrusive cold air in the winter puts stress on HVAC systems, forcing them to run unnecessarily and consume expensive energy. Eliminating energy loss at windows will help better[…]
Passive income. Flexible work schedules. Sunny beaches and fruity margaritas. Living the dream! Well, not exactly. The Life of a Landlord Being a successful landlord is one of the most risky and demanding jobs out there. Marketing, screening, lease renewal strategies, maintenance, accounting, Fair Housing laws, evictions…all part of the daily grind. Every day a rental is occupied[…]
For the past few years, drip irrigation systems for residential and commercial uses have been an effective way to not only conserve water but give landscapes the deep watering they need to flourish in any climate. They have become increasingly popular on the apartment landscape – whether by requirement or voluntary implementation – and are[…]
By embracing mobile technology, senior living communities can become as efficient as possible, resulting in happy residents and successful staff. Let’s face it, mobile smartphones influence the daily routines of most senior living residents, their families and community staff. A majority are regularly tuned into their devices to communicate, simplify tasks and get up-to-date information, but[…]
We’ve all had those customer experiences, the ones that we walk away from considering our sanity and wondering what we did to deserve them. They are the interactions in the leasing office or out on the grounds – even online – with irate or belligerent residents who seemingly want to punch your buttons to get[…]
Apartment owners who could be pinched by new regulations for gas and electric water heater tanks may be able to offer a hot new amenity to residents. Technological advances and lower costs are making tankless water heaters more attractive. The upside for residents is that water gets hotter faster and space once reserved for tanks[…]
No successful business professional would close a deal without first understanding all the facts. But when revenue management decisions are made based on limited or skewed information, a property management company can lose considerable amounts of money and unintentionally drive away business. For property managers, getting apartment rents right is often a major challenge. But[…]
Online Marketing Fundamentals Chances are if your business has any type of online presence, then you’re familiar with the terms SEO and SEM. But, what exactly do you know about these acronyms? Your initial reaction may be to run to the search engines and click on the first result that appears. Search engines are now the[…]
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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