property budget

Three Keys to a Successful Property Budget Review

A budget is your vision of an asset and a forecast of potential earnings. While creating a portfolio or property budget, our deniable need to put everything under the microscope to review and analyze blurs the view. As we try to ensure that values tick and tie, we can miss the big picture. So where[]

multifamily property

How to Prepare Your Multifamily Property for Winter

As we’ve all heard countless times before from our favorite sports coaches, the best offense is a good defense, and readying your multifamily property for winter is no different. A preventative weatherization program will help you catch small problems before they blossom into huge problems, thus saving you thousands of dollars and hours of headaches[]

LED lights

Fact or Fiction? LED Lights are a Smart Choice for Multifamily

Light-emitting diode or LED lights have been evolving at a rapid pace since becoming mainstream about a decade ago. The market was expected to reach $30.5 billion in 2016, up from $25.7 billion the previous year. Today, lighting pros say that LED efficiencies are improving, lasting longer and will continue to replace other lights in[]

vendor credentialing

How Does Vendor Credentialing Protect Your Property?

Vendor credentialing provides advantages that save time, money and provide protection for your property. You wouldn’t allow a tenant to move in without a background check, so why do business with a vendor who hasn’t been thoroughly vetted? Compliance Depot Vendor Credentialing software background checks vendors and makes sure their insurance, financial standing and background[]

Apartment Concepts

Efficiency by Design: Cost-Saving Apartment Concepts

A few years ago, building efficiencies were not top of the list for clients who sought new designs for multifamily dwellings. However, that has changed. The need to lower building costs by trimming the apartment fat is more pronounced at a time when renter demand has soared. In the past, multifamily projects with long corridors[]

From Airbags to Auto-Stop - Why Proactive Demand Management Wins

From Airbags to Auto-Stop – Why Proactive Demand Management Wins

When seatbelts were introduced as a safety device in vehicles to reduce the likelihood of injury, society’s view on safety shifted. It took some adaptation and criticism before the idea of wearing a safety belt could really gain traction in the mind of drivers. As you recall, seatbelts started as an optional feature in a[]

decking materials

Upgrade Your Apartment Community with New Decking Materials

The arrival of fall means that your residents will likely be spending more time outdoors for cookouts, quiet conversation and general relaxation. In southern climates, patios made from concrete and decorative stone and pavers have proven to withstand weather and traffic during every season, making their installation preferable at apartments. Traditionally, wooden decks have required[]

automation

Finding the Balance Between Automation and Human Touch

Automation has its place in business and multifamily today. Busy workplaces and lifestyles require a little digital help when real, live, breathing humans can’t get to the phone or digital device. But not everything should be reduced to a digital series of commands or questions before narrowing down to an answer, place or resolution. At[]

business intelligence software

Using Business Intelligence, Benchmarking to Determine ROI on Renovations

A fact of multifamily is that apartments have to make ongoing investments to stay competitive in today’s market. A renovation or value-add strategy can align an older property to better compete with a newer community down the street, even one in a higher class. Community-wide overhauls of flooring, cabinets and appliances refresh units to attract[]

renter amenities

NMHC/Kingsley Report: Renters Prefer the Basics in Amenities

Apartment operators shouldn’t assume that today’s preferred renter amenities are defined by the regions where they operate. The 2017 National Multifamily Housing Council/Kingsley Renter Preference Report unveiled in October suggests apartment residents around the country have some very distinct favorites that don’t necessarily jive with where they live. The bi-annual report, which drew 272,000 responses[]

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