I've never worked in Ontario. Well, good luck with turn up there!
It's fairly common to have a September 1st move in Ontario. Also with dorms and on campus housing th...

Training Trivia

Incorporating social media into your marketing and resident retention efforts is good practice for all student communities.

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Posted by on in Property Management
Being one of the most developed and oldest cities in the U.S, Boston is a beautiful city with its unique location and sights. Every year, almost 12 million annual people from all around the world come in the city of Boston either look forward to enjoy a fantastic vacation or to get settled in here. People who move to the city of Boston often seek for affordable and well-constructed Boston apartments so that they can enjoy their life cheerfully and blissfully. And thus helping people to find the most beautiful and cost efficient homes Tazar.com comes in a role. Tazar.com is a website that helps in buying and selling of apartments renting houses, property management, as well as providing ample opportunities in the career of being a broker. They understand how difficult it would be for people to find a perfect accommodation option in a new city and that’s why they strive hard to bring most resourceful and detailed information about the Boston real estate market. They serve people with most up-to-date and advanced MLS listings MA which include information about the most beautiful, unique and affordable homes, condos and apartments. With the aid of this listing you would gain the advantage of choosing the best estates in Boston, Massachusetts according to your need and budget. They have been trusted by the buyers, sellers and investors in Boston MA.So if you are looking for a full time real estate assistance to look after all your real estate needs, then look none...

Posted by on in Property Management
Picture this: You are a busy property manager or leasing agent. You have residents coming in and out asking about rent and charges1. The internet is down in building 34 and Resident Randy can’t watch his daily cat videos on YouTube. As you are trying to calm Randy down your scheduled tour arrives and watches all this unfold. Does Prospect Polly really want to live here now since she works from home and the internet is essential for her job?  Your maintenance person just called in sick and unit 3104 need to be turned because your occupancy is tanking and you will miss out on your NOI bonus if 3104 isn’t occupied by the end of the month!  On top of all of this, the county health inspector is testing the water in the pool with a concerned look on his face. If this feels familiar to you, it means you have experienced a typical day working on a property (working in multifamily is a busy place to be!) Being a Property Manager or Leasing Agent can be a difficult job with many challenges. I commend you for all of your hard work and dedication to the community and company you represent!  Now on top of all of this you need to be trained or train your staff on how to better handle these scenarios. How do you fit it all in and make it effective? Below are two topics for discussion on the topic of training: 1. Training Gets in the Way Many large...

Posted by on in Apartment Marketing
Every multifamily management company that runs paid search campaigns as part of its apartment marketing strategy has likely come across the Google vs. Bing debate at one point or another. While there are certainly many distinct advantages to both Bing Ads (Bing’s ad network) and AdWords (Google’s ad network), ultimately only one network can be considered superior when it comes to securing leads in the multifamily industry. Here’s a quick look at the advantages of each, followed by our final verdict: The Advantages of Bing Ads Bing Ads are primarily displayed through bing.com, a search engine that has cornered roughly 20 percent of the search market as of March 2015, according to a ComScore study. Bing Ads can also be found when conducting a search through Yahoo, thus expanding the ad network an additional 13 points and bringing its overall market share to roughly 33 percent. This is a considerably large chunk of the pie, and one that certainly warrants a second glance. In addition to representing nearly one third of the overall market, the Bing ad network is usually cheaper than the Google ad network. A recent report from the search marketing intelligence agency AdGooroo, for example, found that the Cost-Per-Click (CPC) of ads displayed through Bing’s network was 35 percent cheaper than the CPC of ads displayed through Google’s network. The difference was attributed to the fact that more advertisers pay attention to Google, making its bidding landscape more competitive. The Advantages of Google Ads You don’t need us...

Posted by on in Apartment Leasing
Think of it this way: You pay for an ice cream cone before you eat it and you eat it before it melts. Likewise, landlords require that you pay for a month’s worth of rent in order for you to occupy a rental home and before rental days melt away, too. While most renters may not equate their landlords with the Good Humor man, people universally understand that in order to enjoy the treat – ice cream or the ability to stay in the rental home of their choosing – you have pay up first. Herein lies the rub when the renter eats up without being able to pay up. In this scenario, which happens all too often for even the most well intentioned people who find they simply don’t have cash on-hand when rent is due, late fees collect like a puddle of dribbles on a little kid’s shirt. This leaves no one with a good taste about cleaning up a mess than can easily lead to eviction. In a pretty basic exchange of fee for service, renters need tools to keep the proverbial ice cream mess off of them. Enter programs like rent from payroll that help people better budget their money so rent is delivered on time, and also provide an option for landlords to help renters get caught up if their rent is past due. ...

Posted by on in Apartment Leasing
  Salespeople know what they sell, and they sell what they know. When it comes to product knowledge, when leasing agents know too little about the industry, their prospects needs, and their community/company’s features and benefits, they won’t to be able to sell the vast array of solutions. Without product knowledge they can’t:   Match the right features and benefits to the prospects needs Position the value of their community as superior to the prospects other options Tailor the presentation to each prospect to keep them engaged and active. Resulting in… =  Lost leases      One problem I have encountered is that most leasing training will focus solely on trying to build sales skills. I have even heard a marketing director in an all hands on deck company training session, comparing leasing to “selling used cars” pretty horrifying, yes? I agree, sales skills are essential, but without product knowledge your leasing presentation and closing ratios are both doomed. You need to build community knowledge so you can speak fluently about:   The prospects needs your community can fulfill Your features and benefits as solutions to those needs The current happenings in Multi Family Housing The marketplace  (what your comps are up to) Your Company, your neighborhood   I have asked many different Leasing Professionals to “sell me their community” and I have heard a myriad of very different presentations. Some were compelling, leaving me wanting to lease on the spot and others have left me pretty disappointed, scratching my head...

Posted by on in Resident Retention
  Not too long ago I received a letter from an airline asking me to try out their “platinum” upgrade for a couple of months, for free. As part of this upgrade trial I’d receive free seat upgrades when available and access to the airline’s airport lounge. Needless to say, I was very excited about sitting in first class and being able to sip free adult beverages before my flights.  Then I did something stupid … I accidentally stated my free trial before I wanted to (it’s a long story) which meant that the flights that I had coming up that would have enabled me to take advantage of my (temporary) “baller status” would come after my trial upgrade had expired.  The baller becomes the blockhead! After years of working in customer service, I had now become one of those customers who did something wrong-and wanted the airline to do something about it. (What do people say about payback being a …. ?)  I contacted the airline and explained what had happened and wanted to know if they’d grant me an exception to their policy, as a customer service gesture. Basically, I wanted them to extend my free upgrade by a week so I could take at least one flight in luxury. They told me no. Twice.  In the second email I received I was told by the customer service representative that “As I mentioned previously, if we grant you this exception, it would be unfair to everyone else who has...

Posted by on in Apartment Leasing
I was recently reviewing a leasing survey conducted by Multifamily Insiders and saw some really interesting statistics worth pointing out. Multifamily Insiders conducts these kinds of surveys regularly. While not entirely scientific due to sample size (in this case 166 respondents) and possible response bias since all respondents a) are members of Multifamily Insiders which may or may not be representative of the entire industry and b) chose to respond which may or may not represent the entire industry, I do think these surveys give important insights into key issues. I’m glad they do these and encourage them to continue to do more. Only 25% of respondents use a call center. Several years ago, Steve Lefkovits wrote a whitepaper using data from a test of a call center that proved the value of call centers. A substantial portion of the industry is leaving money on the table by not taking advantage of these services. Very few are using kiosks, hand-held tablets or other forms of on-site digital engagement. This doesn’t surprise me given that most of these digital engagement options are used in urban and/or luxury environments and thus represent a small portion of the entire industry. Vendors in this space have a huge upside opportunity if they can build a business case for a B or C class suburban garden community. The average closing ratio reported was 49% (median 43%), yet I know from multiple other data sources that the growth of online leads has driven the lease-to-lead ratio...

Posted by on in Property Management
Let’s be honest, folks. When you and your team are wading through the middle of the quantifiable quagmire that is a RFP and are trying to decide which property management software solution is right for your business, you are going to be putting a lot of focus on the operating costs, performance metrics and anticipated ROI of your investment in a software package. After engaging in the necessary due diligence and ultimately selecting a software company you believe is the best value for your business, you complete an integration progress, get certified, have some training on the product and away you go, skipping blissfully through the flower laden fields of successful property management with your new best buddy, ever. I mentioned that we’re being honest, right? As a former property manager,  eCommerce director and a strategic client manager, I can tell you straight up that you better keep a very close eye on where you and your new property management software buddy are happily skipping, lest you both end up with something rather icky on your shoes. All too often, a critical component of a RFP is neglected until you have picked out your property management software provider and integrated it into your day to day operations. I’m talking about the quality of the relationships you will have with the people behind the software. Yes, I know that you checked references during the RFP. But did you talk to the right people? Let me explain. Most references during an RFP process come from...

Posted by on in Affordable Housing
If you are looking for a safe way to invest in real estate, why not start with a multifamily property? There is a great need of multifamily units in the U.S., specifically because there has been a higher demand for multifamily property and the real estate market is finding it difficult to meet this surge. This implies that there are many advantages of investing in multifamily property. In this brief blog post, we discuss about the benefits of investing in multifamily property. Lesser CompetitionMultifamily housing has been here for a while but the competition is still less in comparison to other sectors of real estate. Lesser competition means better opportunities and profit for the investors. People tend to avoid investing in commercial property like multifamily units because it requires more work and comes with a huge price tag. The long term benefits that multifamily properties come with definitely overshadow a few negatives.Availability of Loan OptionsThere are separate loans for the individuals who want to purchase a multifamily property with up to four units. Investors can borrow more money as they can use the rental income to qualify for a loan. In addition to this, the owner-occupant loans have lower interest rates and lesser down payments as compared to the commercial property loans.Beneficial in Difficult TimesIt is true that income from a multifamily property can be of great help during unexpected events. It is an additional income that may be used to pay mortgage, medical bill or study loan. In addition to...

Posted by on in Apartment Leasing
      Or should I have said "The list WILL NOT surprise you??! There's A Rock Star Leasing Agent ... Then There's Everyone Else! Everyone else comes to work to luck up on a lease, go to lunch on time just to come back late, do follow up calls just because they're told to do it simply because its part of the process and leave work at 4:55pm with prospects waiting in the lobby. Rock Star Leasing Agents are simply cut from a different cloth therefore you gain a totally different experience with these people. Trait #1: They dress for success! Everyone can see a star shining bright - just like a Rock Star Leasing Agent, it wouldn't take a rocket scientist to spot these people in a crowd. Trait #2: They are always prepared! Every noticed why Stacy writes everything down as it comes? Answer: So she can plan her day, week, month and coming months accordingly. As a aspiring successful Rock Star, you are nothing without your trusty notebook. Guest cards simply don't give you the ammo you need to shoot those constant contact bullets. Trait #3: Positive attitude! A smile and a "can - do" attitude will always take you further then otherwise. Trait #4: They understand the art of "relationship building". Understanding the art of "relationship building" is not an easy task and only a dedicated person will reach that "holy grail", if I may. This road comes with a lot of negative attitude confrontation, a lot of conflict...