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

Multifamily Blogs

This is some blog description about this site

I Wasn't a Tesla Fan-Until I Was!

I Wasn't a Tesla Fan-Until I Was!
I recently put down a refundable deposit to purchase the Tesla Cybertruck. That in and of itself may not be earth shattering news. While the truck's style is pretty "unique," unofficially, more than 700,000 people have put down the $100 deposit to purchase the truck when it goes into production sometime in 2021 (or so.) So I'm in good company...and honestly, the truck I'd like probably won't be ready until 2023 or later, so I have enough time to figure out how to pay for it!   The surprising thing about it for me is that a few months ago, I didn't like Teslas at all! When they first came out I immediately lumped Teslas in with other electric vehicles and wondered, "Why would anyone want one?? They're overpriced. They have limited range. And gasoline engines are here to stay!" Mind you, I didn't do any actual research, I just made a snap decision and then built my beliefs about Teslas around that initial decision.   Towards the end of last year my in-laws purchased a Tesla and when I sat it in for the first time I remember thinking these things:   Meh I don't like it This is such a gimmick What's up with the "whoopee cushion" sound effect? AND-This might be the car of the future   Overall, I wasn't that impressed, mainly because I didn't want to be. I was pretty sure that I knew more than Elon Musk (whom I didn't like either, because he seemed......
Continue reading
451 Hits
1 Comment

4 Ways to Maximize ROI with Your Property Management Software

4 Ways to Maximize ROI with Your Property Management Software
  Landlord’s and real estate investors operate in a world of tight margins. The difference between a successful rental property investment and one you wish you could take back is often only a few percentage points. For this reason, more than ever, landlords and property managers seek various ways to increase efficiency, both as it relates to the time they spend with their properties and to their finances. Property management software is an increasingly essential tool in any good rental property manager’s tool-belt. Below are four ways property management software can increase the ROI of your rental property investment. 1.       Collect More Money One of the primary reasons landlords first consider property management software is for the ability to collect rent online. These landlords understand that online collections are quite a bit more convenient for both them and their tenants, minimizing trips to the bank and allowing tenants to pay in ways they want. These are great reasons to start using online payments, but landlords often overlook the impact it can have on their bottom line. Property management software typically includes a notification system that will automatically remind your tenants of upcoming payments. The best systems will handle send notifications before rent is due, the day its due, and when it’s late. Oftentimes, you can send additional messages quickly and easily as needed. What’s more, good rental management software will permit tenants to sign up for autopay, ensuring they never miss a payment again. And the very best platforms also offer tenants......
Continue reading
458 Hits
0 Comments

The Cost of Untrained Leasing Consultants

The Cost of Untrained Leasing Consultants
Most of us have published an ad looking for “experienced leasing consultants” and received an array of resumes that may have included a rookie or two. Sometimes, we try our luck with first-timers; maybe because something sparked our eye, or maybe we’re just desperately in need of new talent. Sometimes, we find people with experience, and sometimes an impressionable candidate finds their way onto the top of the pile, regardless of their experience in multifamily. I’ve had the pleasure of training diamonds-in-the-rough a few times, but more often than not, due to time constraints and manager obligations, consultants are thrown into the fire, head first, and told to take an online leasing class or wait until a company trainer comes in. So smile, answer the phone, and lease. The number of leasing consultants that are on the front line that lack proper training is surprising. This is often because companies either don’t accurately assess the legal and financial ramifications of untrained staff, or they have not allocated the time or resources necessary. I preach an old saying that multifamily vets know all too well, “It costs money to make the phone ring.” And how much does it cost? Usually quite a bit. Even with a minimal marketing budget, you’re ideally still allocating funds for “curb appeal” i.e. flags, banners, signage. With larger budgets, allocation for ILS services for lead generation, SEO, answering services, chat bot, websites, and tracking systems are standard. Not to mention the presence of any outreach marketing, resident and employee events......
Continue reading
1722 Hits
2 Comments

Help! I Don't Like My Boss!

Help! I Don't Like My Boss!
Let's face it you will not always work for a boss that you like (respect, get along with, agree with, think is competent etc.). In your career you are bound to work for someone (or have someone in your chain of command) that you have issues with. Surveys tell us that approximately 70% of people who voluntarily leave their jobs do so because of their boss. Surveys also tell us that a high percentage of people would make either a lateral move or take a pay cut to work for a company with a better work culture and environment.  What do you do if you find yourself now working with someone that you don't like? Well, before you quit, or send passive-agreessive (or just downright aggressive) signals that you're unhappy, or try and change your boss to the way that you think s/he should be, or complain about your boss on social media for all of the world to see, I'd like to offer you some things to think about... The Golden Rule Mr. Barron, my high school history teacher often told our class his version of "The Golden Rule" and it went something like this, He who has the gold, makes the rules.  I have worked with an awful lot of people who've forgotten that they work for their boss and NOT the other way around. When you work with a boss you don't like, don't make the situation worse by forgetting that whatever your concerns, point of view, and......
Continue reading
1820 Hits
4 Comments

Three Things "Temps" Should NOT Do!

Three Things "Temps" Should NOT Do!
Years ago when I was a community manager I had a season of time when I relied heavily on temporary associates to maintain the staffing requirements of my office. There were many times when my “temps” made my job easier and I was so glad that they were helping me. There were also many times when my “temps” either made my job harder, or were so difficult to be around in one way or another, that I didn’t think they were worth the expense! If you’re a temporary associate now I’d like to give you some advice on what to do when you’re at you’re assignment so that the company wants to keep bringing you back-or even offer you a permanent position! Tip #1: Don’t be Bossy! I had a temporary associate who started critiquing me on how we accepted checks and thought it was a good idea to give me his thoughts on what we should have been doing when collecting checks from our customers. Needless to say, that immediately irritated me as I thought, “Who does this guy think he is??” Regardless of the experience you bring into the office, remember as a temp that the client may not need your input on things…even if it’s great input! For those of you with a great resume this may be the hardest thing to do as a temp, and it’s a vital skill. As a wise mentor once told me, “Never miss an opportunity to keep your mouth shut!” Tip #2: Don’t Say “When I worked at…”......
Continue reading
1983 Hits
3 Comments

Thermometer and Thermostat: Creating a Culture of Success-Part Four

Thermometer and Thermostat: Creating a Culture of Success-Part Four
My wife does this amazing thing with our daughter which she calls "Taking the garbage out." During this time my wife simply asks my daughter if there is anything she wants to talk about, fess up to, ask for help or guidance on, or if there is anything she needs. My wife learns a lot about what is going on in the internal world with our daughter and this creates connection between the two of them. We've used this same principle during our weekly family meetings. All of us have an opportunity to share good things we've noticed in each other, to ask for forgiveness for something we said or did, or to voice a grievance about one another. This mechanism allows us to check the temperature of our family, and also serves as a guide for what we might need to be aware of and focus on, and what we need to keep doing.  Check their Temperature! Have you thought about that your people need their temperature checked as well? They do! As a leader it is imperative that you know the temperature of your people and of the team. Knowing the temperature of your people allow you to know what is going well (so you can keep doing those things!) and what isn't going well, so that you can address the issues before they get out of control. How can you check their temperature? The best way is to find time to connect consistently with the people on your......
Continue reading
1485 Hits
0 Comments

Avoid the "Wal-Mart" Approach to Selling

Avoid the "Wal-Mart" Approach to Selling
I have to be honest with you, I am feeling rather uninspired with many of the leasing “professionals” in our industry lately. Over the past few months I have been doing work for and with a vendor company, which requires my being in touch with communities (and associates) all around the country…and the results have often been awful! I cannot tell you how many times I’ve called communities and the person on the other end of the line sounds like this … I UNDERSTAND! I DO! I worked onsite for many years, so I understand the feeling many of you have when the phone rings. Listen, after answering dozens of phone calls every day, when the phone rang AGAIN for the 30th time, I had my days when, all I wanted to do was this…   It wasn’t always easy to answer the phone and sound like I cared, but I knew it was important to my company, my career and my paycheck that I answered the phone like I really did care every time. So step one is to make a decision to be friendly on the phone. The second is to sound like it! Here is a tip that I learned a long time ago on how to sound friendly, engaging, happy and nice on the phone…. Learn From the Radio If you have a favorite DJ, haven’t you noticed that they all speak in a certain “DJ Voice?” They speak that way because on the radio they need to find some way to be e......
Continue reading
1287 Hits
0 Comments

The Impact of Love and Duty on Your Job

The Impact of Love and Duty on Your Job
The question about the perception that many people have towards their jobs has been a matter of debate for a long time. The Do what you love and love what you do debate has divided the people into two contrasting groups. On one hand, there are those who argue that it is not pragmatic to say that one can do a job out of love and duty. Their argument centers around the circumstances that face the current turbulent economic times which motivates people to work primarily for survival. On the other hand, there are those who argue that one should take a job out of love. This group also holds that the love for a job motivates a person to have a duty for the job. It is therefore paramount that one gains a comprehensive understanding of both concepts and consequently apply the same in the workplace.  The Love for Your Job Tevis Rose Trowler, the founder and chief executive of New York-based Balance Integration Corporation, says that changing your attitude makes the work more engaging and more enjoyable. Consequently, everyday routine brings comfort and connection. For example, when your company has a positive impact on the neighborhood, it makes all those who contributed to such an impact satisfied. Work is not about how much one will earn or the recognition therein. Rather, it is about the feeling that one has made some efforts in making the world a better place. A Gall Up poll noted that less than 27 %......
Continue reading
2335 Hits
0 Comments

Who's the Captain of the Airplane?

Who's the Captain of the Airplane?
I was sitting in a small regional plane at Chicago’s O’Hare Airport waiting for the go ahead to disembark the plane. As I sat in the airplane I noticed the Captain of the airliner (another small regional plane) next to us walking around his aircraft. He looked under the nose. Then he walked to the engine closest to me and visually inspected it. Finally I saw him go under the fuselage, run his hands on several areas, and continued with his inspection.    There was a part of me that figured that United Airlines would have someone else who could/would do the visual inspection of the aircraft, freeing up the pilot to do all of his pre-flight preparations in the cockpit. Yet, even if there is someone else who could do it and does do it, I can understand why the pilot would do it also; after all, it’s “his” plane isn’t it? And his life and the lives of the passengers on the flight (like me) are counting on him!    In other words, regardless of what anyone else is supposed to do, he is ultimately responsible isn’t he?    Are You the Captain?   As I thought about this-and as I am writing this, I have to admit to feeling so BUSTED! on this in my life right now, and throughout my life in general. I like the idea of being the “Captain” but I have too often resorted to blaming the “flight attendants” or “ground crews” in my life when things go wrong......
Continue reading
1780 Hits
7 Comments

How Do You Spell "Grateful"?

How Do You Spell "Grateful"?
My ex-wife was never a good speller. So, many of the cards or notes she wrote to me would often have a word that was misspelled. And, as the spelling bee champ of my junior high and one of the editors of my high school newspaper, I was always a stickler for accurate spelling and so it really bothered me when she spelled words incorrectly. (I’m not proud of this.)   It’s V-I-D-E-O...Geez!   There was one word in particular that she would spell incorrectly and that was video. She would often spell it V-I-E-D-O, and no matter how many times I tried to “help” her remember how to spell the word, it didn’t help. So, I’d continue being irritated about it, or making fun of her inability to spell words correctly. (Again, not proud of this.)   Then, one day, I discovered that she had met someone else and wanted out of our marriage. I was devastated and hoped that we’d find our way back together. (We didn’t.)    A couple of months or so after she left, I found a note that she had written to me a few years prior. On this note she wrote “VIEDO” again, in the same way that had irritated me for so many years, except this time, I wasn’t irritated. I was grateful.     As I stood alone in my apartment, I would have given anything to get another “love note” from her, especially one that had "VIEDO" written on it...and my heart flooded with gratit......
Continue reading
3072 Hits
1 Comment