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Can you refuse to add someone on the lease just because they are disruptive?
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Doesn't the Covid-19 pandemic seem like it happened a lifetime ago?I remember at the very beginning of the pandemic, when no one had any information and everyone was freaked out, my husband went out in the early morning (to avoid crowds) to go grocery shopping. He was of course wearing rubber kitchen gloves but no mask, because at the time everyone thought Covid might be spread by touch. He got a huge haul, because who knew if the grocery s ...
Hi All. One of our properties is going to have a handful of more college students (townhome units). Was wondering if anyone has an addendum with regard to noise/parties? Our lease is already very detailed but I'm just looking to see what others do. We are not all student housing, but we have a property closely located to a private college and out of 61 units, we have about 6-10 or so with students. Normally there have not been too many issues, but I... Show more
I think putting them in a welcome letter isnβt a bad idea, or even summarizing the βrespect your neighborsβ rules on a separate form and require all residents to sign it on move in. You basically want them all to acknowledge the rules and perhaps the consequences of breaking them. Otherwise they will sometimes think they can claim ignorance and get away with it the first time.
Random question ~~ when remodeling a kitchen with new counters and sink, would you remove a working disposal? I mean, take it out and not replace it.
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In today's high interest rate environment, interest only platforms may be the only answer for refinance for the short term. We are seeing several clients walking away from million-dollar buildings because the old interest rate was 2-3 %. Now the interest rate is 8-9%. Clients just cannot sustain the imbalance. Things are going to become quite desperate for many companies this year.
While itβs almost become a meme to comment on how βbackwardβ the multifamily housing industry is when it comes to technology, the reality is much more nuanced now than it was back in 1999 when I first started leading the work that eventually resulted in LRO, the industryβs first-ever automated rent setting application. I was blessed to work with perhaps the most technology-forward operator of the time. Archstone was the first major ...
Property management is a multifaceted industry and as many successful property managers know you will need efficiency to scale and manage the business effectively. Property managers are the day-to-day lay level operators who are faced with a perpetual roller coaster of strategies that aim to to reduce operational inefficiencies. The uncomfortable part of such objectives is frequently overlooked by most property managers; namely, partnering with a ...
Key releaseβs are supposed to be simple. Yardi has an opt in for text communication which he is listed as yes. A friend comes in and needs a key. Knows resident by name, unit and phone #. We called resident twice and emailed. They called him, told us when they went to walk their dog, he left and may have thought they had key. After about an hour of them calling they texted him. He texts them back and says we have permission to give key. I see... Show more
Is your property management company drowning in reactive maintenance? Are surprise repairs, breakdowns, and frustrated residents eating away at your resources, budget, and bottom line? The good news is, there's a smarter way to manage your maintenance. Artificial Intelligence (AI) is revolutionizing the way we approach maintenance, ushering in an era of proactive problem-solving and optimized operations.Embrace the Power of DataImagine having a c ...
We audited one of our student housing portfolios a few months back (about 12 properties), and identified ~$50,000-70,000 / year in bloated ad spend. If you are looking to do the same and potentially cut ad spend, read onβ¦We started by implementing a CRM to track things like lead source, and lead stage in the pipeline. Powerful optimizations begin with good data. Once we'd collected a year's worth of data, we were able to do some actual analysis o ...
I have a client wanting to reduce fraud. (Isnβt everyone!)
Iβve used Checkpoint ID but had complaints with them manually verifying idβs (they did nothing) and the app not working when scanning idβs. Is there a good alternative?
Thinking of going with Snappt for POI verification. Are they the...
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This is very interesting article, in my opinion. I would imagine that most in this group would tackle things differently than Vienna, but the reality is that there are some very strong alignments, such as understanding that affordability is a supply-driven situation and that we need more development in many markets. For example:π΄πππ‘βππ πππ¦ ππππππππππ ππ π‘βπ π€ππ¦ ππππππ πβπππ ππ π‘π π ππππ ππ‘π ππππ’ππ βππ’π πππ ππ’ππππ‘. πππ π‘ ππ ππ‘ ππππ πππ‘π π π’ππ ππππ πππ... Show more
Could Viennaβs approach to affordable housing work in California? | Housing | The Guardian
Housing costs and homelessness are on the rise in California. In the Austrian capital, people of all income levels live in subsidised housing β and…
Do you know where your data comes from? Not all data is the same. How it's pulled can result in varying (and potentially unpredictable) outcomesβone of the more unpleasant being private data sharing. Using ethically sourced data ensures compliance and precision in your comp reporting and market surveys. Unlike private and semi-private data, market insights from ethical sources are clean, accurate, and unassociated with antitrust litigations. Own ...
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Security remains a paramount concern for management and ownership groups alike in this quarter's Multifamily Crime Poll. Let's delve into the key findings and uncover what they mean for property security strategies.Package Theft: On the RiseOne of the standout revelations from our latest poll is the prevalence of package theft. A significant portion of respondentsβ60.9% to be preciseβreported that package theft either increased or surged signific ...
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Multifamily News
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- American Landmark Apartments Acquires Class βAβ Tampa Apartment Community
Otherwise Iβd have turned away lots of applicants over time.
If they are being a disruptive guest though, then you should have been issuing lease violation notices to the resident. Youβd need some sort of paper trail.
But Iβd consult with your attorneys first as well. Iβve never had to ban a guest from the property before. Let alone one whoβs potentially going to be a future resident.
If you do add them to the existing lease though, you could always non-renew them?