Apartment Blogs

The way in which you explain, or don’t explain pet deposits can cost you profit.  If landlords could spend just one day as a professional collector attempting to collect tenant debt, one of the top objections they would hear from previous tenants is about pets and pet deposits.

“The urine spots on the carpet are covered by my pet deposit” is one example of a tenant either intentionally or unintentionally misunderstanding the pet deposit.  Many pet deposits are non-refundable.  If this is not fully explained at lease signing, most likely the tenant will believe that the pet deposit is no different than the standard deposit he placed on the rental unit.

I had the privilege to visit 6 apartment communities last week. Out of the 6 communities, only 1 community had a very welcoming, enthusiastic, and energetic presence.  Only 1!  One of the offices I visited was very busy. The leasing agent was talking with an existing resident and the community manager had a pressing emergency on the phone.  How would a potential resident react to this situation? As a community manager, how would you correct this unpleasant welcome to a potential resident?

First impressions are everything! As in real estate, "location, location, location" is a must; "customer service, customer service, customer service" is vital at any community. Leaders of a community must realize that its the simple approaches that count to a potential or current resident. If potential residents are seeking to find that perfect community to call home, wouldn't you lease an apartment with the community that gave you the warmest and welcoming greeting? That triggers a potential resident that they will be taken care of and all of their needs will be met.

Community Managers can sometimes become overwhelmed with all of the day-to-day functions in operating a community. In order to operate a property successfully, Managers must be organized, know how to delegate responsibilities, and communicate with their staff effectively to meet various goals for the property.

I would like Community Managers to join in and take the "Hour Early Initiative Challenge". The goal of this challenge is to create a stress free work environment for Community Managers and their staff. Community Managers will:

1. Take the Initiative to come in to work 1-Hour Early - Don't worry about pay on this hour. Love what you do and care about your community.

New EPA Rule Affects All Levels of Apartment Management, Not Just Maintenance

Times, as they say, they are a changing... and in our world in the multifamily industry, we are definitely not immune to the changes around us. Apartment industry professionals are expected to stay on top of federal, state and local laws and regulations.

One big change is coming on April 22, 2010, when the U.S. Environmental Protection Agency (EPA) will require employees and contractors who perform any renovations, repairs, and painting in homes built before 1978 to be certified as part of the new Lead-Based Paint Renovation, Repair and Painting (RRP) Rule. And, guess what? That includes multifamily properties.

As seen @ Tidbits from The Apartment Nerd

The attention on Social Media as a marketing and branding tool becomes even more relevant when you realize that New Orleans' upcoming festivities for Mardi Gras are being re-branded to show it's "softer side" as a result of frustrated New Orleans residents Live-Tweeting and Facebooking from 2009.

Long fed-up with the festival's reputation of debauchery and "Girls Gone Wild", Louisiana's own "Tabasco" is presenting "Mardi Gras Gone Mild".

Last year, New Orleans local, Tom Martin, live-Tweeted Mardi-Gras, showing the more PG-rated aspects of the festival.

I just received a piece of paper on my door trying to sell me something worth $11,000!  Crazy, huh?  I usually throw away the Chinese food menus where the Kung Pao Chicken is not even ten bucks, and yet this company wants to get me to buy something worth $11,000 based upon a single paper placed in the crack of my front door.  And no, it didn't have any pretty color pictures or really much of a sales pitch at all.  It was just plain sheet of paper, folded in thirds, and stapled together, so when I opened it up I had nice little holes through the paper to add texture. 

What's even more crazy is that I know this company has my phone number.  Not like I really enjoy sales calls, but is this really the best effort they can give to try to sell me?  I've done business with them before, and they really rolled out the red carpet for me, giving me a tour of their facilities and showering me with lots of attention.  But I haven't heard from them in probably close to a year, and now they expect this pitiful, wrinkled, folded piece of paper to somehow convince me to make my biggest purchase (by far) of the year with them.  In fact, unless I'm buying a car this year, this purchase would probably be ten times larger than any other expenditure I make this year, and they expect me to buy from them based on this??  I don't think they understand sales very well... 

Last June my wife and I had the privilege of attending NAA in Las Vegas.  We stayed at the Luxor and decided on one of our evenings to take a walk to the famous Bellagio.  We had heard so much about it.  It is known for its beauty inside and out.  There was so much positive feedback about this place coming from friends and coworkers, that we purposely put it in our plans to make the trip.  The destination was wonderful but the path to get there was not.  The entire time we walked we were bombarded with people flicking their little cards trying to set us up with escorts.  I was completely mortified and I am sure the expression on my face was the same.  I was completely uncomfortable until I reached the destination I intended to see in the first place.  The Bellagio had invited me on many levels and I responded.

Some recent discussions have inspired the following analogy.  I have been too many trade shows over my career, but NAA was my first national event for the multifamily industry.  I did not know anyone!  The looks on many folks faces was priceless.  It was the look of, who are you, what are you trying to sell me, give me your 1 minute speech so I can get my free pen and tote bag.  I really felt for them.  After my trip down the Vegas strip I wondered if these individuals felt the same way I did.  My focus was on the Bellagio.  Their focus was on perhaps a handful of key booths that they planned in advance to visit.  They knew about the company, heard good reviews and wanted to make a connection and experience.  They had been personally invited and were looking forward to their discussion.  They just needed to wade through the all of us card flickers (in their opinion) to reach their destination. 

There’s an old saying that “if you live by the sword, you die by the sword.”

Old sayings get old for a reason…because they are usually right.

I post this blog in response to a great "Reality Check" post by one of our industry experts elsewhere on the MultiFamily Insider discussion board.  She's encouraging a close review of marketing strategies.

She's absolutely spot-on accurate.

We all cope with aging in different ways. In my case, I have always taken solace in the fact that I don't quite look my age.

But this week, I got a rude awakening. I had a few headshots taken for a speaking engagement, and in one of them, I look ten years older. The photo captured every wrinkle and every uneven spot in my complexion. I look in the mirror every day, so to me, my appearance doesn’t seem to change. But seeing the truth captured in print was a wake up call that my perception was not in alignment with reality.

This same type of shift—a slow erosion that's unnoticeable month to month but adds up over the course of a year—is happening in the online advertising space. During the past year, it's likely that a combination of the economy, a proliferation of new sites, and your own improvements to your website and internal web marketing have reduced the number of leads you are getting from paid advertising sources (although not all sources are experiencing declines) . Renters are being more careful than ever, which is also decreasing the average closing ratio.