Enter your email address for weekly access to top multifamily blogs!

Multifamily Blogs

This is some blog description about this site

How To Keep Tenants Happy: Tips To Make The Good Ones Stay

The real estate industry is on the rise, with many people offering home solutions, and property development, including mobile homes for sale. Many landlords have several offers on the menu for any tenant. It isn't easy to find tenants who pay their rent on time, contact you when an issue arises, and respect the neighborhood and the property. Once you find tenants who take care of your property as if it is their own and pays their rent on time, you don't want to let them go and must always keep them happy. However, you might be asking, what is the secret to keeping your tenants happy in your property? These tips will help you understand what you must do to make your tenants happy and want to stay in your property. As per the 'National Center for Housing Property management,' 54% of apartments are occupied by new tenants every year. For most landlords, this period meets them with several expenses on a property, including possible repairs and cleaning costs. The longer the rental property remains vacant, the more landlords will have lost rent, utilities, and more money spent on advertising fees.  Eliminating or reducing your turnover expenses by retaining good tenants can turn you into a more profitable landlord. This comes with several advantages, including but not limited to: Preventing uncertainty of having new tenants Providing consistent income from your property Spending less on the unit for property showings, advertising, and cleaning Even before you think about keeping good tenants,......
Continue reading
706 Hits
0 Comments

Can I Prohibit Smoking Marijuana In My Apartments In A Legalized State?

The issue of banning marijuana use in rental properties has always been subject to contention, especially if the federal, state and local laws have not banned marijuana use.  When a tenant signs a lease and establishes that the landlord has a no smoke policy for marijuana, the question therefore would be whether marijuana is legal or illegal in that specific area of jurisdiction? Of course landlords have a right to their property, hence they can decide not to allow a tenant to occupy their property. However, it is worth noting that tenants have their rights. The debate therefore is about which law is supreme in regards to cannabis use in rental properties. Is it the federal laws, state law or any other laws that apply to the housing industry? So can an apartment prohibit smoking marijuana in legalized state? What The Law Says Disputes between landlords and tenants are very common, especially when it comes to restricting marijuana use in apartments. The greatest challenge that many landlords face is dealing with a tenant who insists on their use of cannabis, regardless of the rules of the community.  However, such a problem can be dealt with during the initial signing of the lease agreement. The main argument among legal experts is that no landlord deserves to have their rental property not attract prospective tenants or, in the worst case scenario, have their property damaged through pot smoking. This is the reason why there have been cases in the past where tenants are......
Continue reading
599 Hits
0 Comments

How to Communicate With Tenants During COVID-19

Ever since the outbreak of COVID-19, pretty much all aspects of life have been forever changed. So, what does that mean for business owners and their management teams? Well, as the economy continues to take a hit, unemployment rates rise, recently reopened states close again, and new cases steadily surge —it means there is a lot of uncertainty and unpaid rent. Nonetheless, ask anyone in the real estate/housing industry, and they will tell you that they have not been afforded the luxury of being uncertain during this global crisis. Instead, definitive action has been required, especially from property managers and landlords. In particular, open lines of communication during this time are a must. If you are like many property management professionals, you may have noticed that just responding to emails from concerned tenants here and there has not been enough. Thus, as an alternative to playing defense with tenant concerns, it might just be time to get on the offensive and effectively communicate with your tenants. Be Prepared and Informative One of the best ways to effectively communicate with your tenants is to be prepared. Just like everyone else, your tenants are going to have questions. Therefore, you need to be prepared to thoroughly answer those questions, while at the same time keeping everyone calm. The best thing you can do here as a member of the management team is to keep yourself informed so that you can tackle the hard questions, emails, calls, and texts. It is also helpful to r......
Continue reading
682 Hits
0 Comments

Why You Should Encourage Your Tenants to Purchase Renters Insurance

A guest post by Tracy Myers, homeinsurance.org, Houston, Texas The importance of renters insurance really cannot be highlighted enough. Tenants often forget about renters insurance, because a lease is temporary and the property is not their own. Some believe that if their landlord already has the property insured, they have nothing to worry about, but if you think about it, you wouldn’t lease a car without purchasing car insurance. Not just because it would be illegal to not buy car insurance, but because your finances would be ruined if you were to get into a car accident or suffer some other form of loss. Although residents are not required by law to buy renters insurance, the financial ramifications of not having it are great. Even if a landlord or property owner has insured the building, there are still many reasons why residents need renters insurance. For example: To Cover the Loss of Personal Property If a resident loses personal property (clothing, electronics, furniture, home ware, etc.) because of damage from fire or smoke, severe weather damage, theft, and more, they will be left to replace those items out of pocket if they don’t have renters insurance. With insurance, the depreciated value of their possessions will be covered. They can even upgrade the policy to cover the actual value. Just the thought of losing everything they own should be enough to convince them to insure their belongings. For those who believe they don’t own enough for it to matter, most people’s personal propert......
Continue reading
3938 Hits
1 Comment

Is Outreach Marketing a Necessary Evil?

I got my belly laugh of the day on Saturday when I read a facebook post from a work-friend stating she would scream if she got back another Weekly Marketing Report from an onsite team listing nail salon, hair salon and something else I can’t recall. I think I spit out my tea! Oh my, oh my, I started singing, I know what that means!   I know because I have seen these same things listed many times and NOT for the right reasons on weekly reports. J When someone lists “Betty’s Hair Salon” I immediately know that the Manager went to get her hair done that week and it is now a part of her “outreach marketing plan.” When I see, “Our Nails Are Fabulous!” salon listed on the report, I think, again, hummm, she must have gotten her nails done there. The best one is someone listing Toys-R-Us (during the first week of December) – we all know that small children plus holiday coming equals outreach marketing. Of course!   First of all, I have been there, done that. Not proud of it, but I did not know any better and I had no one to teach me. After all, I had been affiliated with Section 8 housing for five years and I didn’t deal with true outreach marketing duties there, unless you count marketing to the social service agencies as outreach marketing. Then I went on to conventional housing and in that world, wow, there are all kinds of happy......
Continue reading
5648 Hits
0 Comments

What Star Trek: Deep Space Nine Can Teach Us About Property Management

By Steve Boudreault, Buildium, Boston, MA It’s about time that Buildium’s top wordsmith started writing blogs for All Things Property Management. So here I am and here we go! I’m going to use my first ATPM blog to connect property management to my number-one passion: Star Trek. Specifically, Star Trek: Deep Space Nine (DS9). Deep Space Nine focused on the space station of the same name, in orbit around a planet called Bajor. Originally an outpost of the evil Cardassians, it was built using Bajoran slave labor during The Occupation, which lasted nearly 50 years. When the Bajorans finally ousted the Cardassians, Starfleet sent officers to take over administration of the station, and try to help Bajor and the Bajorans get back on their feet. The wrinkle comes in with the discovery of a stable wormhole that connects the area of space right around Bajor to the distant and completely unexplored Gamma Quadrant. Now instead of being at the end of a quiet cul-de-sac in space, Deep Space Nine is at the crossroads of a major interstellar highway. That’s progress for you. So what connections does Deep Space Nine herself have to property management? I’m glad you asked: Responsibility. The station was built by Bajorans for the Cardassians but is administrated by Starfleet. So one of the first questions was this: Whose responsibility is it to clean up and repair the station, which the Cardassians were so kind to trash before they left? Is it the owner’s responsibility or the manager’s?......
Continue reading
4443 Hits
2 Comments

World's Worst Tenants

By Salvatore Friscia, San Diego Premier Property Management, San Diego, CA I have to admit that recently I started watching a new cable show called “World’s Worst Tenants” on Spike TV. The premise for the show if you haven’t seen it depicts three individuals who are hired by various property management companies to handle unusually odd tenant related issues. The issues range from your basic nonpayment of rent to more bizarre and serious issues that can leave any self-respecting property manager shaking their head in disbelief. The show makes for great TV and entertainment, but on a serious note it can offer some insight to the importance of exterior and interior property inspections. I noticed that usually the trio of characters hired to resolve the tenant related issues would indicate that the out of state owner or property manager had lost communication with the tenant and in most cases both were unaware of the property condition. This dangerous combination usually lead to disastrous situations leaving the rental property completely destroyed, and in some cases declared uninhabitable by city, state, and federal laws. I can’t help but think that regularly scheduled inspections would act as a deterrent in the outcome of some of these situations.Here at SDP Management our company policy is to conduct two exterior and one interior inspection annually. At the lease signing we advise the tenants of this policy and make it known that the property owner and the management company have a vested interest in making sure that......
Continue reading
7859 Hits
10 Comments