Five Ways to Create a Powerful Spend Management Program

When revenue management gets more scrutinized during shifts in market cycles (such as is the case now in the apartment industry), focus on expenses becomes more intense. Offsetting deficits of dollars coming in can, in many cases, be achieved by juggling the dollars going out. That seems to be top of mind for many stakeholders,[]

home wildfires

What Makes a Home More (or Less) Likely to Burn in a Wildfire?

Wildfires are an inevitable environmental concern when living in an area with high temperatures and low humidity. While they are a powerful, destructive force that can engulf entire communities, your property does not have to go up in flames. What causes one home to burn while a neighbor’s home remains largely undisturbed? Read on to learn about[]

Leasing Consultants

Top 5 Traits of the Greatest Leasing Consultants in the World

Congratulations! You have a fantastic product. Newsflash! Your competitor has a fantastic product, too. Do you offer the latest, greatest, extraordinarily unique leasing training program? So does your competitor. So, your leasing office is slick, stylish and the leasing office is equipped with the best mobile technology money can buy. Have you visited your neighbor[]

The Art of Stakeholder Communication in Property Management

Stakeholders come in many different forms in property management. Depending on your organization, owners and investors are probably the first groups that come to mind. Then, there is senior management. Lenders are now a regular stakeholder group because of the documentation requirements in their loans. Sometimes our tenants are also stakeholders. Finally, asset and property[]

utility billing

Utility Billing Risk Assessment: Scary or Not?

Utility expense management for multifamily operators is about managing the balance between recovering resident utility costs and the regulatory requirements (including consumer protection provisions) that exist in different jurisdictions. Utility billing service providers endeavor to mitigate risk while maximizing recovery. Here are some of the considerations we face in today’s legal and regulatory environments and[]

how to control mosquitos

How to Control Mosquitos Hanging Around Your Apartment Community

Labor Day may signal the unofficial last day of summer, the final big opportunity for outdoor gatherings, but as cooler weather approaches the desire of your residents to chill on patios, decks and outside common areas doesn’t fade. If anything, more people will frequent conversational areas like fire pits and around the grill. The sad fact[]

mpf research

New from MPF Research:  LA Supply, Salt Lake City Rents, Top Metros for Jobs and Permits

MPF Research provides actionable market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division. Spike in new deliveries threatens downtown LA performance Development in Downtown Los Angeles is around three times the long-term average, and the growing supply volumes are testing the submarket’s ability to digest large amounts of new[]

business intelligence software

Leveraging Business Intelligence to Make the Right Decision

Good business sometimes relies on playing hunches. A property manager may have a gut feeling that it’s time to increase new rents and settle in for longer-term leases. Or that upgrading floors in each unit will net even higher rents and give the bottom line an extra lift. Great business leaders will tell you that following[]

renter turnover

A Property Manager’s Guide: Four Best Practices to Turn Multifamily Units

Renter turnover is inevitable in the multifamily industry. In fact, renter turnover has historically hovered around 50% nationally and remains a fairly predictable number. While every property manager would absolutely love each of his or her tenants to remain living on their property year after year, that’s not the reality of the situation. As such, you’ll[]

Leasing Agent Sales Learning Delivers a Huge Payoff

Considering they represent multifamily’s sales force, it’s amazing how few leasing agents are effectively educated in how to close leases. Some come from sales backgrounds, but others from previous positions as leasing agents or retail jobs without ever being formally exposed to basic sales principles and product knowledge. Leasing agents often wear many hats in[]

multifamily budgeting software

Say Goodbye to Spreadsheets with Multifamily Budgeting Software [eBook]

Budgeting tends to be an endless cycle of cramming numbers into spreadsheets, and working out a grueling alternative to manipulate the amount of money that was allotted the year before. It always starts with good intentions, but more often than not, the end result is repeating last year’s budget.Does this sound familiar? Create realistic budgeting[]

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