Great infographic! Thanks for sharing the info.
I've shared this story, but it still embarrasses me every time. I lived in one of the dorms my firs...

Training Trivia

The lower the Economic Occupancy, the greater the _______________________.

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1738102117 [{"id":"158","title":"Rent reductions and\/or concessions","votes":"21","pct":"84.00","type":"x","order":"1","resources":[]},{"id":"159","title":"Property performance","votes":"0","pct":"0.00","type":"x","order":"2","resources":[]},{"id":"160","title":"Physical occupancy","votes":"3","pct":"12.00","type":"x","order":"3","resources":[]},{"id":"161","title":"Rent collected","votes":"1","pct":"4.00","type":"x","order":"4","resources":[]}] ["#ff5b00","#4ac0f2","#b80028","#eef66c","#60bb22","#b96a9a","#62c2cc"] sbar 200 200 /polls/vote/62-the-lower-the-economic-occupancy,-the-greater-the-_______________________ No answer selected. Please try again. Thank you for your vote. Answers Votes ...
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Posted by on in Social Media and Technology
Sure, most of us have at least a general idea of what to share with our Facebook fans and Twitter followers, but have you given any thought to what you should NOT share with them? This topic was recently brought to light thanks to an Arizona restaurant’s epic Facebook meltdown after being featured on Gordon Ramsey’s hit show, Kitchen Nightmares. After receiving heat from Ramsey about their business practices, the owners took to Facebook, criticizing not only the show, but also customers who gave unfavorable reviews on Yelp, Facebook, and other sites. What’s the lesson here? It’s great to share your company’s personality on Facebook and other social sites, but a line needs to be drawn. Addressing customer criticism in a constructive way is great, but if you or your company is taking to social media to lash out against critics, it will only end up hurting you in the long run. To read snippets of the Facebook meltdown, click here....

Posted by on in Resident Retention
b2ap3_thumbnail_Reaching-up.JPG I look to the sky, and wait for an answer!   "When will my toilet be fixed, and has my request to move my assigned parking spot even been looked at?"   For most residents on most days of living in an apartment community, the routine is simple: They wake up, they go about their daily obligations, they may fit in some leisure activities, they go to bed.  But then there are those certain days when their routine gets derailed, in large ways or small. A burner on the stove stops working. They receive a late rent notice. Someone parks in their assigned spot. There is dog waste outside their home for the 3rd day in a row.  That is when residents look to their property management teams for help. For answers. For solutions.  Do they raise their hands in futility as they wait endlessly for assistance, or do they have confidence that the team will listen and help immediately?   These are the moments of truth. These are the memorable moments. And YOU have the power to make them memorable in a really good way, or a really bad way. Either way, keep in mind that it is very likely that that memory you make together will be broadcast across the world wide web within minutes.  So, how do make your interactions divinely memorable, worthy of a virtual thumbs-up? Respond! Whether a resident calls, emails or stops by, really listen to what they are saying or asking. Let them...

Posted by on in Property Management
When you’re a landlord, managing your own property or properties is a way to keep your costs low, and it allows you to turn a larger profit from your rental. However, over time you may start considering the option of hiring a property manager to take over for you – whether it’s due to time constraints, a desire to focus on other projects, or simply a feeling that you’ve taken on too many investment properties to do it all on your own. Regardless of the reasoning, you should think through your decision carefully, and part of doing that is understanding what a property manager offers you. What Do Property Managers Bring to the Table? Fast response time to prospective tenants – if you’ve got another job and maintain your rental in your spare time, you may not be able to get back to people as quickly as you need to. There are tons of rentals on the market, pretty much at all times. If you don’t contact someone quickly while they’re waiting for information, someone else might just snatch them up. A higher level of objectivity when dealing with difficult tenants – if there is an issue, it’s easier to take it personally when it’s your property. After all, you’re the one that has to come up with the cash if your tenant fails to pay their rent on time, for example. But working with a property manager means that the issue can be dealt with in a way that avoids...

Posted by on in Apartment Leasing
I wouldn’t hesitate in characterizing myself as a “good person.”  I’m no angel – probably a little closer to an upbeat cheerleader devil who tells you that you are great when she thinks you are great, and struggles with the already tiny filter between her brain and mouth when she thinks you’re not.  Usually, these momentary slips, frequent as they are, come in good humor and are not mean-girl-esque.    This morning, I had a mean girl moment that I’m wildly ashamed of.     See, given the nature of my job in training, consulting, and speaking, I travel frequently.  I can tell you where to get the brand of yogurt that you want in the SeaTac airport or the best spot to build yourself a productivity nest in the A Concourse at Denver International.  I can almost always pack my suitcase to the 50lb mark without going over.  I remember flight attendant names.  And, most importantly, I can go through the security line with breakneck speed.   2 bins, bag in the first, pull out the laptop –it goes in the second, jacket off before I get to the table so it’s already in the first bin, slip out of the flip-flops, and I never have anything besides lint in my pockets. “Any liquids, Ma’am?”  No.  Liquids at the TSA line are for chumps.  I don’t do the backscatter machines, but that’s why I scout the line with the metal detectors or I opt-out for the “federal feel-up.”    It’s an art form,...

Posted by on in Apartment Jobs
b2ap3_thumbnail_who-do-you-fire---buy-in-versus-performance.pngThis blog was originally published by Forbes, whom we received permission from to republish. By Ty Kiisel It’s definitely counter-intuitive, but it could be one of your top performers. I was introduced to this idea by Patrick Morin, a brilliant sales executive and two-time turnaround CEO. Although the context of our discussions have been primarily regarding building, motivating, and keeping the best sales professionals, I’m convinced the same concepts apply to every role within a company—small or large. Although it’s sometimes the top performers that should find their necks on the chopping block first, it’s not their performance that puts them there. Most people want to contribute to something meaningful, something that will outlast their particular contribution. Our job as leaders is to inspire our employees with that vision—something that has them excited to start the workday every day. Unfortunately, not all of our employees buy-in to that vision. Some are even detractors. Morin looks at his employees on a four-grid scale with “Buy-In” on the vertical axis and “Performance” on the horizontal. When evaluating employees and potential employees he puts them into one of four categories: High Buy-In/ Low Performance Low Buy-In/Low Performance High Buy-In/ High Performance Low Buy-In/ High Performance Over the years I’ve been compelled to work with high-performing colleagues who didn’t like the company, had no respect for our customers, disliked their colleagues, and continuously shared their discontent with anyone who would listen. Like a cancer, their bad attitude spread throughout the organization—while they were otherwise regularly recognized for high performance. Morin...

Posted by on in Apartment Leasing
We have all been there, haven’t we? You’ve spent a lot of time with a client on the phone. You’ve made a real connection; built rapport. You’ve discovered all the things that your client wants in an apartment and you can offer it to her! All that’s left is to make an appointment when your client can come in, fall in love with the home and lease the apartment- and that is when you hear something like this ...   “I can’t make an appointment right now. Can I just come in?” “I’m not sure what my schedule is going to be like today-how late are you open?” “Do I have to make an appointment?”   In my experience most associates handle this situation with a response like this:    “Susan, I understand. Yes, you can definitely come in to our office...” “Joe, we’re open until 6:00 pm, please feel free to stop in!” “Rick, you don’t have to make an appointment. We are open until 5:30 pm today, please stop in and ask for me.”   A Better Way?   When I first began leasing I would pretty much tell customers to come in at any time...so they did. I noticed that clients I spoke with on the phone were often coming in when I was in the middle of helping someone else; or when I was about to step out for lunch; or when I had something else planned; or when the timing just wasn’t good. There had to...

Posted by on in Apartment Leasing
When choosing screening services have you ever wondered what the OFAC search was, and if it was really necessary to use for your company? Recent events like the tragedy in Boston have placed a lot of emphasis on America’s terrorist watch list, and what it really means. The Office of Foreign Asset Control, or OFAC is part of the U.S. Department of Treasury’s Office of Terrorism and Financial Intelligence. It administers and enforces economic and trade sanctions based on national security goals against targeted foreign countries and regimes, terrorists, parties engaged with weapons of mass destruction, and other threats to the national security, foreign policy or the economy of the United States (US Department of Treasury). So how does this search affect you and your business? In short: the list they administer and enforce tells you who and who you cannot do business with legally. The list they create of the restricted parties is known as the "Specially Designated Nationals List" (SDN), and is available on their website. A recent LinkedIn poll showed that 78% of Real Estate professionals use the OFAC search and believe it to be an important tool, while 5% used it, but didn’t really know what it was, or what they were getting, and 16% did not use it in their tenant or pre-employment screening at all, or knew what it was. While the SDN list is extensive, it is important to note that you always need to perform due diligence with it (just as with any...

Posted by on in Apartment Marketing

b2ap3_thumbnail_bubble-up.jpgOur industry is often accused of having a “follow the herd” mentality, where all communities do is look at their comps and copy what they do.  Since everybody is following everybody else, the argument is that only a few are actually innovating.  So I think it is good to look outside the industry for inspiration, and today I found it in the world of Soda Pop.  I’ll share a video below of John Nese, owner of Galco’s Soda Pop Stop.  On first impression, it seems like a business that simply shouldn’t exist.  They are a store focused on soda, but don’t carry Coke or Pepsi products.  If someone wants those products, he actually refers customers down the street where they can get a better deal than he ever could.  Instead, he focuses on soda brands that most people have probably never heard from, such as Bubble Up, Manhattan Special, and Fentimans Curiosity Cola. How is this possible?  How could a store that didn’t carry Coke or Pepsi survive?  For most people, they would assume that a store that didn’t cater to the big brands would automatically be torching the possibility of a sale with a vast majority of soda drinkers, and frankly, that might be true.  However, although I don’t know the financials of this store, there are some key elements that make this an interesting niche opportunity: Coke and Pepsi products are in high demand, but they also have high competition, so margins get sliced incredibly thin. Conversely, unique labels...

Posted by on in Property Management
Pilera-apartmentsThere’s been plenty of talk in the news lately about the rebounding housing market, leading many in the apartment industry to wonder how they’ll be affected. The good news is that experts conclude they won’t be affected much. Here’s what those in the know know: Few people are leaving their apartments to make a home purchase A Chicago-based research company that tracks people’s reasons for leaving an apartment says that few people leave in order to purchase a home. Further backing up survey data is the fact that the percentage of home purchases made by first-time home buyers has stagnated since the expiration of the Home Buyer Tax Credit. We have a long way to go Before people in the rental industry despair over the double-digit increases in home sales we’ve been seeing lately, it is a good idea for them to remember just how low the housing market sunk. Given the housing market’s low at the peak of the financial crisis, achieving double-digit increases doesn’t require too much. People are still underwater on their homes and there is still a high number of foreclosures. Rentals are still important. Urban living is attractive Cities used to be hotbeds of crime, and people fled them for the safety of the suburbs. Today, with high gas prices, lowering crime rates in cities, and the cultural attractions of urban centers, people are leaving the suburbs to move back to the cities. Often, because of high property values in urban centers, people who want to live...

Posted by on in Miscellaneous
I am so pleased to introduce you to Libby, the main character in the newest of my children's books (this time with co-author Eleanor Smith!). Libby is an e-book available for Kindle, Nook, Sony eReader, iPad, etc.http://bookstore.authorhouse.com/Products/SKU-000647250/Libby-and-the-Cape-of-Visitability.aspx This book came about through my work with For Rent Media Solutions and proceeds from FRMS's share of royalties are being donated to the Michigan Habitat for Humanity! ABOUT THE BOOK (for 8-13 year olds)Libby, Aria and Benjamin have been best friends since they were babies. But now Aria has moved to a new house and Libby, who uses a wheelchair, doesn’t get invited to Aria’s birthday party because the house has barriers. Hurt feelings follow…Then the kids meet Everett, an adult wheelchair athlete, who tells them how the disability rights movement gained successes through years of public demonstrations and pressing for laws. Everett shows them a picture from the 70’s showing people with disabilities blocking inaccessible buses. The kids are inspired to their version of public action to achieve the goal that every new house would have a step-free entrance and wide bathroom doors. Learn how the kids get on the front page of their hometown paper, as their method gets them in trouble – and how they achieve a sweet victory. "Libby and the Cape of Visitability" is the diary of Libby, a KWD (Kid with Disability). Written for children ages 8-13, this book raises awareness of the exclusion created when houses are not built with simple features that allow wheelchair users...