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Feb 06
2012

Reach more renters where it counts…their inbox!

Posted by Omer Navaid in Multifamily , Customer Service , Apartment Search , Apartment Residential , Apartment Marketing , Apartment Industry , Apartment Community , Apartment

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Here are three quick tips to help your email messages reach your subscribers’ inboxes, avoid spam complaints and maintain your status as a reputable sender:

 

Feb 06
2012

Rent Roll Buying and Selling – More Than Meets the Eye

Posted by Buildium LLC in Resident Satisfaction , Resident Retention , Rent , Property Management Companies , Property Management , Move , Lease Agreement , Customer Service , Communication , Business Center , Brand Monitoring , Apartment Industry , Apartment Development , Apartment

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By Jo-Anne Oliveri, ireviloution intelligence, Brisbane, Australia

Recently, I have been involved in the sale and purchase of a rent roll. I had the rare opportunity of consulting for both the buyer and purchaser. Let me say, this was the smoothest and least stressful rent roll transfer I have ever witnessed!

Now some might say there is a conflict of interest by consulting to both the seller and the purchaser, and yes, I would agree! I definitely had my reservations about consulting and advising to both of them, but I discussed my dilemma with both parties. They both agreed they would retain me as the consultant and adviser through the negotiation, transfer, settlement, transition and retention period. In fact, I even conducted the inspection and overview on the selling rent-roll, and prepared the due diligence report.

Jan 31
2012

Do Mystery Shops Need to Just Go Away? (part 1 in a 2 part series)

Posted by Lisa Trosien in Property Management Companies , Property Management , Occupancy , Customer Service , Community Policies , Closing Ratio , Apartment Training , Apartment Leasing , Apartment Community , Apartment

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I've had clients asking me  this very question for years. Are shops really valuable to a company? Is there a better way? Let me give you some reasons why  mystery shops just might not be the answer you're looking for at your company. For the sake of this discussion, we're limiting this to phone and in-person shops.

1. Shoppers have bad days. Just like Leasing Professionals, shoppers have 'off' days, too. And this is reflected in the shopping report  that describes the Leasing Professionals' behavior. I once worked for a company who so strongly believed in this that they made sure their employees were shopped TWICE on the same day. That way, if one shop was horrible and one was good, they could throw the bad shop out (chalking it up to a bad day for the shopper). 

2. Shoppers have to remember how you behaved on the tour. Having been shopped numerous times in my career, I can tell you that sometimes shoppers get their facts confused. I have had shopping reports that accused me of failing to show all of the amenities on the property to the shopper - and they listed the ones I left out. The  problem? The property didn't HAVE the amenities I supposedly overlooked. 

Jan 03
2012

Get over your vanity metrics. Social Media channels are Marketing and Leasing channels

Posted by Carmen Benitez in Twitter , Tracking Traffic , Technology , Social Networking , Social Media , Search Engine Optimization SEO , Multifamily Executive , Multifamily , Facebook , Customer Service , Brand Monitoring , Apartment Training , Apartment Search , Apartment Marketing , Apartment Leasing , Apartment Community Website

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So, you've read through countless fun blogs from within and outside the industry and yes, you've smiled to yourself as you've had to thumb through silly posts about the author's dogs or sunglasses and/or other gimmicky things to keep you reading. And yes, you've gone a step above and read through more authoritative beats like Mashable or TechCrunch or HBR to yes, still find yourself having to smile and get through gimmicky articles on social media. 

And in that time frame of lost minutes  (and yes, hours), you were trained over and over to think that social media was about #fans #followers #tweets #comments #posts and other "measurements". Well, guess what they were wrong and you were wrong to believe it. These vanity metrics simply don't add up to leases or renewals. At the very stretch, they are ONLY good for brand lift, which you likely will ONLY consider once you can DEMONSTRATE you have a handle on building true marketing and leasing ROI. Otherwise, I give it to your boss to tell you to eat it and find something else better to do with your time.

And the reason is simple, we as an industry need to spend the very little time we do have to market (how many of you truly have a full-time dedicated marketing manager on site???) on getting a return from it. 

Dec 29
2011

Is All Social Media Engagement Created Equally?

Posted by Ellen Thompson in Twitter , Social Networking , Social Media , Multifamily , FourSquare , Facebook , Customer Service , Communication , Blogs , Apartment Marketing

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It’s the question every property manager and industry partner wants to figure out: just how much does social media help build our brands, improve services, save money, and create new revenue?

I think it’s especially difficult to calculate social media’s rewards because they flow into many different buckets. I’m not implying this means we should shirk the responsibility of measuring ROI—but remember that there are benefits beyond leads, like branding, customer service, and SEO lift to marketing pages with proper social media integration.

It can take a long time to see that social media is generating leads, leases and sales, so we naturally try to justify our investment with other data, including increased page views, inbound traffic generation, SEO, and engagement.

Dec 22
2011

The Most Wonderful Time of the Year; The Apartment Developer's Dilemma

Posted by Ross Blaising in Student Housing , Social Networking , Residents , Resident Satisfaction , Resident Retention , Property Management , Multifamily Lending , Multifamily Investing , Multifamily Insiders , Multifamily Executive , Multifamily , LIHTC , Facebook , Customer Service , Construction , Communication , Blogs , Apartment Training , Apartment Residential , Apartment Marketing , Apartment Maintenance , Apartment Leasing , Apartment Industry , Apartment Development , Apartment Demographics , Apartment Community Website , Apartment Community , Apartment , Affordable Housing , Accounting

Ross Blaising
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Let me begin by wishing you all a very Merry Christmas and Happy Hanukkah. For those of you who regularly read my scribbles, you are used to some pretty meaty topics. In light of the Holidays, this one will be a bit frothier. In each blog that I write there are certain themes which remain pretty consistent. One of my favorites is that real estate development is about the coolest industry on the planet. After all, our job is to make the world a better, more usable, more beautiful place.

 

Often my intended audience is the real estate developer (my hope is of course that there is some part of my subject matter which translates to my non-developer audience- or at least helps you better understand those temperamental developers who constantly tell you ‘We can’t afford that.’). Today, I would like to remind us all of something that is very easily glossed over as we perform our day-to-day tasks.

Dec 20
2011

What Makes Your Residents Actually Want To Stay At Your Apartment Community?

Posted by Brent Williams in Resident Retention , Customer Service , Apartment Maintenance

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Some communities struggle with great maintenance and customer service – this blog is not for them.  Instead, I’m speaking to those communities who already do a fantastic job at customer service, have low response times for their apartment maintenance, and overall have the “fundamentals” down pat.

Let’s say you live at a community with horrible service, and that is why you are leaving.  Well, that is going to be at the top of your “must have” list because it is a struggle you are having at that moment.  But if you are living at a community with solid service, then you aren’t as focused on that aspect because it’s not a concern.  And if you tour a community that talks about their great service, there is a chance you will take their word on it.  In other words, you don’t understand the importance of what you have until it’s gone.  (I’m pretty sure there is a love song in there, somewhere)

So in a strange sense, your strong customer service and maintenance program may not be appreciated until they have already moved out and learn first-hand what they are missing.  It might feel nice they they are missing you now, but that doesn’t change the fact that they have already left your community. 

Dec 13
2011

Should Our On-Site Employees Really Be “Jack of all Trades”?

Posted by Brent Williams in Residents , Lease Agreement , Customer Service , Apartment Leasing

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I hear the “Jack of all Trades” job description a lot regarding our on-site teams, that everybody chips in and works to get the job done.  For many, it is almost a badge of honor to be a Jack of all Trades, as it implies that you can handle anything they throw at you.  And in that respect, I totally agree!  But I also believe it is the model of inefficiency.

First of all, I want to be clear that this isn’t a discussion on whether people should step up when the job needs to be done.  For example, if all the leasing consultants are out of the office or otherwise busy, I firmly believe that the community manager has to be ready to take that next prospect on a property tour.  Every person needs to be able to rise to the occasion in order to get the job done.  However, there is a difference between every person doing every job, and every person having a specific job but able to lend a hand when it is needed.

Let’s look at leasing consultants specifically.  A leasing consultant has a wide variety of job functions, from leasing, to customer service, to administrative duties, such as preparing a lease.  Sales, customer service, and administrative work are all very different, and often one personality type is rarely fantastic at all three.  Years ago when I called the community office home, I can say that I was great at customer service and administrative work, but only average at leasing apartments.  But even though I was only average at sales, and my co-leasing consultant was much better than I was, we traded off handling prospects.  This clearly was not the best use of our resources!

Dec 06
2011

The True Value of a Property Management Company

Posted by Buildium LLC in Residents , Rent , Property Management Software , Property Management Companies , Property Management , Occupancy , Multifamily , Customer Service , Communication , Apartment Residential , Apartment Marketing , Apartment Leasing , Apartment

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A guest post by Andrew Payne, Louisville Property Management, Louisville, KY

Before doing business with a property management service, a property owner must feel that the company’s 8-10% management fee is valid and deserved. When you take a call from a prospective client, you must sell yourself based on what you truly offer. This article covers some key areas to explain when discussing your company’s role in the business.

Nov 29
2011

It's Hard to Say No to New Property Management Accounts

Posted by Buildium LLC in Property Management Software , Property Management Companies , Property Management , Occupancy , Multifamily , Customer Service , Apartment Leasing , Apartment Industry , Apartment

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By Salvatore Friscia, San Diego Premier Property Management, San Diego, CA

Property management is all the buzz these days, as it is becoming the saving grace of the real estate industry. Across the country, real estate agents and realtors who are unable to maintain consistent listings and sales have turned to property management as a steady income stream until the market “picks up” again. This increase in competition for property management accounts by quasi real estate agents/managers has lead many who want to build their property management portfolio to take on any and all assets.Dilapidated apartment building

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Insider Blogs

Omer Navaid Reach more renters where it counts…their inbox! written by Omer Navaid
Here are three quick tips to help your email messages reach your subscribers’ inboxes, avoid spam complaints and maintain your status as a reputable sender:   1)     Ensure you are sending relevant messages to subscri ...   (Read More)

Buildium LLC Rent Roll Buying and Selling – More Than Meets the Eye written by Buildium LLC
By Jo-Anne Oliveri, ireviloution intelligence, Brisbane, Australia Recently, I have been involved in the sale and purchase of a rent roll. I had the rare opportunity of consulting for both the buyer and purchaser. Let me say, this was the smoothest a ...   (Read More)

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You are the manager of property (x) and one of the tenants come up; as they have done time and again, and says they have a problem.  Each time it was nothing to get excited about. It is time to go home and: get something to eat, play with the k ...   (Read More)

Buildium LLC Technology and the Successful Property Manager written by Buildium LLC
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