Enter your email address for weekly access to top multifamily blogs!
Multifamily Blogs
  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form
Subscribe to this list via RSS

Amenities

- Blog posts tagged in Amenities

Posted by on in Property Management
Years ago when I had the task of putting together my first leasing guide, I relied heavily on the advice of a good friend, a supervisor with years of experience and obvious selling chops. One terrific tip she shared with me was that a leasing agent needs to become adept at finding the things in each room of an apartment home that the prospect was not likely to see. She suggested that we require each leasing agent to go into all rooms of an apartment, even the baths and closets, and find at least two things that were not obvious and explain what those features meant and how they could benefit the prospect. In the years since, I have used that great idea as a cornerstone in my training. Think about it. When a somewhat less engaged leasing agent does a property tour, they usually spend a lot of time on pointing out the obvious, if they are even interacting at all. I cannot count the number of times I have walked into a furnished model with a leasing agent I was “shopping” and been lead to a room with an oval table and six chairs while the leasing agent offered “this is the dining room.” What a master of the obvious! Why do we even waste the time and energy if we are only pointing out things that are clear to just about everyone. I have had leasing agents fall this up by steering me into the kitchen and...

Posted by on in Property Management
As much as we talk about the importance of recycling, the United States is the number one trash-producing country in the world.  This means that 5% of the world’s population generates 40% of the world’s waste! With last week being National Recycling Week, I thought it would be fun to show you some ways to conserve waste and save money by repairing, versus replacing, your appliances.  The below infograph, from Part Select, shows the cost to replace some common appliances.  If you click on the buttons, possible symptoms and their fixes are shown.  Have fun playing around with this and maybe next time one of your resident’s dishwasher leaks, you can save some money by repairing it.   For more visit Apartments.com/blog...

Posted by on in Property Management
Learn how to use descriptive language to spice up your marketing! I’m all about saying something in a unique way when marketing apartments, but sometimes I find myself  with a brain cramp and it takes me a while to get those creative juices flowing. How many times have you found yourself in the same situation while in a time crunch to get your copy out a.s.a.p. and all you can come up with to describe your community pool is “Sparkling”? Genius word, isn’t it? I bet if I went through the various apartment guides at least 70% would describe their pool as “sparkling”. Same with “State-of-the-Art Fitness Center”… if you are still using the same over-used wording it is time to come up with some new and unique descriptive language to describe your community! I recommend looking online in other markets to see how community features are being described. I also get great inspiration by watching HGTV and I love to research other industries, like the hotel industry. These provide a great inspiration as to how to describe the latest and greatest in features. While on a flight to do a marketing assessment, I was reading Air Tran’s Go magazine and came across an article about business centers in hotels and whether they were dying out. The hotel industry is re-vamping the concept and Hilton has introduced “Technology Lounges”. I thought, wow, what a great way to describe a business center! During a recent Marketing Rally, the team and I...

Posted by on in Apartment Leasing
No pool?Wish you had a workout room? Kitchens with old appliances? In my career there is one thing I love more than leasing apartments and that is to get on stage and talk about great leasing techniques. But to be a believable speaker, I have to do what I speak about with my audiences. This is why I love to pick up the model keys and leasing kit whenever I am visiting one of my consulting clients. Leasing is always a challenge for me because I am rarely working on a property that has it all and is leading the market. Why would that owner need me?!? My consulting projects are typically turning around a leasing and marketing situation to improve economic occupancy. My job would be easy if each apartment had granite countertops and a rocking amenity plan to add to the value of the apartment community. Most times, I am working on properties where there is a gap between what the customer wants and what we offer. This is when an emotional connection can win the leasing game. Here are 10 things you can do to create that connection:1. Before you ever show an apartment, make certain you ask questions to find out what is important to this customer. Using this key information on the leasing tour will help your customer see that this apartment meets their needs.2. I don't have to tell you to use the customer's name, you learned that years ago in leasing class. But, here is a thought to take that idea one step further: Create a connection by putting their...

Posted by on in Property Management
My Community is located in a city that has seen an increase in job growth and demand for apartment living.  In response to this growth we were able to increase our rents by $100 for new move-ins.  We have been able to maintain an occupancy of 95% since August of 2010 and a turnover just over 65%(our normal).  Since January we have been increasing renewals 2-11% based on their lease term selected.In August we introduced the Valet Waste door-to-door trash collection service to our residents. While some where excited about the front door trash pick-up, others are upset that we would bring in a service they did not request or seek their approval. Beginning with October renewals we are increasing their rents $18 for Valet Waste and 3-11% in rent, which is about $40-$100 total depending on the renewal lease term.  We recently sent out renewal offer letters for November expirations with increases proposed as stated above.  I have just received a petition signed by 40 residents, several of which are not up for renewal at this time.  Why I can appreciate the community coming together on something, I am overwhelemed by their reasoning for no increases: 1) They did not have a say in the Valet Waste service. 2) Request for benches to be installed at playground has not been granted. 3) Our promise to provide proper house, safety and service has not been fulfilled entirely. Too many outsiders coming into the community anytime they want because there is no gate. 4) Not enough laundry machines in...

Posted by on in Property Management
By Colin McCarthy, J.D., Robinson & Wood, San Jose, CA In my last entry, we discussed how it was possible in this great country of ours that a burglar could sue a property owner for injuries he sustained while robbing that same property owner.  In my next entry, we will discuss why it is in the fine state of California that a tenant can sue his landlord for injuries sustained on the property which are inflicted by criminals.  But in this entry, I will get a little more practical:  we will discuss just what your responsibility is to your tenants regarding the liveability of the unit. Just what do you – the property owner – have to provide to your residential tenant to remain in compliance with the law?  Well most of this is just common sense.  If people are going to live in the premises, if you do not provide the following, not only are you not being nice, but you are breaking the law: A weatherproof environment.  The unit has to have a roof and walls as well as doors and windows that are unbroken (more on this next entry!) Electricity.  It may come as a surprise to you that most will not want to rent your unit if they cannot plug in a TV and refridgerator.  Or it may not. Plumbing.  It may also come as a surprise to you that not only would most tenants enjoy a good shower and functioning toilet, but the law generally requires it. Gas and heating.  People don’t like to be...

Posted by on in Property Management
Having been on MFI for two years now, I feel that there is a need for another perspective that most Insiders do not see.  Most everyone here has been on the leasing end so long that the feelings and needs of the tenants is more theoretical as opposed to someone who has lived in apartments most of their life.The word COMMUNITY is misused frequently here as it is not meant to be a grouping of people with a common thread (they all live at the same complex), but community to me is human interaction and exchange of ideas amongst residents of a community they call home.Ask yourself, "What have we done to promote COMMUNITY and distinguish our property from the rest?"  If the answer is a great pool, playground, fitness center or clubhouse, you are missing the meaning of community.  A better question may be, "What have we done to build relationships with our tenants and improve their social interactions?"  WHile a small percentage of people want to be shut-ins and not talk with anyone, I have found that most people want to meet others that they have something in common with.  Where they live is a great first thing to have in common.Interactions with tenants should not start off, "Yes?" or "Can I help you?" but should be, "Hi!  How are you doing today? Dis you see the new shrubbery we put along the fencing last week?"  Create a friendly environment for them to talk freely and work WITH you...

Posted by on in Property Management
By Salvatore J. Friscia, San Diego Premier Property Management, San Diego, CA Having to make repairs to your rental property should not come as a surprise. For some reason most owners drop the ball when it comes to handling maintenance requests from their tenants. Some owners struggle to understand the importance of addressing repair issues in a timely fashion. They fail to realize how the lack of maintenance affects the condition of their property and ultimately the quality of tenants the property attracts. The owner, not realizing that every rental property regardless of age will have its fair share of plumbing leaks, electrical problems, water heater issues, and broken appliances will either let maintenance repairs linger or handle them in a poor fashion. Repairs should not to be confused with the normal upkeep such as cleaning, changing light bulbs or plunging a clogged toilet. These issues are the responsibility of the tenant. Repairs can be considered anything a licensed bonded contractor should take care of such as; plumbing, electrical, appliance repair, heating/cooling, flooring, & construction. These types of repairs are best left to the professionals and when handled appropriately, exhibit the owner’s willingness to resolve repair issues properly and in a timely fashion. In some cases a handyman can be useful and worth the small fee to resolve minor repairs. Now, if you normally handle repair issues yourself and have the knowledge and experience to do so then that becomes a judgment call, but most owners would rather sit back and...

Posted by on in Property Management
By Peter Lamandre, Better By Design Real Estate, Scranton, PA I was out and about this week and while on the interstate I pulled behind a contractor that had a QR code on the back of their tow trailer. While I applaud them for embracing an emerging technology, it occurred to me that that may not be the best application of a QR Code. Some of you are probably wondering, “What the heck is a QR Code?” QR code is an acronym meaning Quick Response code. It seems as though QR codes are the latest rage in advertising. But what are they? Without getting into the computer advantages of using QR codes versus standard bar codes; they are in essence a 2D bar code allowing you to pack a large amount of information in a small space. The QR code was invented by a subsidiary of Toyota in the mid 1990s for tracking parts during shipment. The format of the code allowed machines to quickly scan and track parts on a conveyor belt and route their destination accordingly. Fast forward 20+ years and with the proliferation of smartphones with cameras what was once a way to track machine parts is now the hottest new way to pack more advertising into smaller spaces. Would you rather see this… FOR RENT 3 BR, 1BA ½ double $xxx/mo plus utils call for details XYZ Management, Inc maybe with a picture, a phone number perhaps a website, etc. or A single image that when scanned...

Posted by on in Property Management
Have you noticed the little yellow review stars appearing in Google search results?   Google is picking up reviews from various places on the web, and inserting them into the RESULTS pages. This means that, before a prospect even decides to click on your website, they are seeing a rating of your community— assuming one exists.  I don’t know about you, but those little stars influence what I click on! Historically apartment communities have had a policy to ignore reviews in regards to online reputation management (ORM).   However, it is important to take the opportunity to listen— and even respond— to what residents are saying online because the conversation is happening whether you choose to participate or not. What is ORM? Online reputation management (or monitoring) is the practice of monitoring the Internet reputation of a person, brand or business, with the goal of suppressing negative mentions entirely, or pushing them lower on search engine results pages to decrease their visibility. A recent survey conducted in the UK and US found that 69% of respondents trusted online reviews as much as personal recommendations.  So what are you doing to monitor your reputation? Where to find online reviews: With about 855,000 apartment ratings and reviews ApartmentRatings.com is the largest and most comprehensive apartment ratings website.  Reaching approximately 30% of apartment hunters nationwide, it is among the Top 5 most-visited apartment hunting sites in the world. ApartmentGrade.com, a Coralville, Iowa-based site offers a different rating methodology. It doesn’t invite renters to air gripes, but instead actively polls residents about staff, living conditions and...