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Top 5 Best Practices for the Expiration of Eviction Moratoriums

Top 5 Best Practices for the Expiration of Eviction Moratoriums
The end of eviction moratoriums may finally be in sight. After a series of extensions, the eviction moratorium now in place until October 3 – should be the last, on a national scale. The Federal Housing Finance Agency’s eviction moratorium for Fannie Mae and Freddie Mac-backed properties is slated to expire at the end of September. While state municipal moratoriums are still in place in certain markets, it’s time for multifamily properties to start preparing for the inevitable expiration of the pandemic moratorium era. For most apartment communities, the behind-the-scenes process needs to begin now. Below are five best practices to help position multifamily properties for the end of eviction moratoriums:  1. Have a plan ready to deploy To avoid losing time and additional revenue when moratoriums are finally lifted, property teams need to have a plan in place. It’s time to freshen up on corporate eviction policy and fair housing compliance, and assign eviction-related duties among teams. Teams also need to establish a plan to pursue debt recovery while the residents are still living at the community. Once a resident is evicted and moves out, teams are forced to chase that debt remotely and property management companies recover only a fraction of that revenue. Consider payment plans or helping residents apply for COVID relief funds, or loan assistance programs to help delinquent residents get back on track. While onsite teams have plenty to do preemptively, there will be an element of hurry up and wait once moratoriums are lifted. The number ......
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Lessons Learned From 2020: Must-Have Tech in 2021

Lessons Learned From 2020: Must-Have Tech in 2021
If we learned one thing from 2020, it is that technology is a vital piece to an apartment company’s business strategy. Prior to 2020, technology adoption and buy-in were slow for most multifamily firms. We know that nothing can replace a person-to-person experience, but when this wasn’t an option, operators were forced to accelerate their adoption timelines. Companies needed to find ways to replicate that personal touch through digital connections.  If your company was one that had the foresight to build a tech stack that had dynamic solutions to operate efficiently both on and offline, then 2020 was a walk in the park. For those that hadn’t adopted a full online/offline strategy, then every day probably felt like a human pinball trying to roll out tech solutions to fill in the gaps. We were living in a reactionary world where all traditional processes of onboarding tech were thrown out the window. It was the precipice of a technology revolution.  We wanted to get information to the users as quickly as possible. Some solutions executed seamlessly while the industry was forced to innovate on the fly in other instances. All were game changers in a fully digital world. What did we learn? We learned that consumers need and expect information to be easily accessible and available multiple ways online. As consumers, we learned that it’s a frustrating user experience when websites have multiple pop-ups on the homepage. As operators, we learned that we need technology more than ever before, that it isn’t a one-siz......
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Is This Assistance Animal Legit?

Is This Assistance Animal Legit?
As more and more communities allow pets onsite, most operators are seeing an uptick in assistance animal accommodation requests. It’s no secret that there are bad actors trying to pass their pets off as assistance animals to circumvent pet fees and restrictions. This is why having a thorough and consistent review process of each accommodation request is paramount. In over 100,000 reasonable accommodations requests already reviewed by PetScreening, nearly 60% were returned to the animal owner as insufficient. In other words, the accommodation request did not meet HUD’s 2020 Assistance Animal Notice guidelines. This is often due to documentation that is missing or contains incomplete information, is lacking specificity, has out-dated documentation and a variety of less common factors.  It’s important to note that when a request is deemed insufficient, that definitely doesn’t always equate to fraud -- although there are a few tell-tale signs to look for when determining the legitimacy of such requests. For instance: If a healthcare provider questions the validity of his/her signature If the date on the supporting documentation appears to have been altered If a name in the supporting documentation appears to have inconsistencies  In the event that you encounter any of these “ifs” or other indicators that seem questionable during your review of an assistance animal request, additional expertise and diligence during the review process is likely warranted. Fraud is a very serious matter and, if suspected, you should navigate this cautiously and carefully. It is well within your rights to seek additional information during the ......
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Hiring? Use Your Marketing & Sales Ingenuity

Hiring? Use Your Marketing & Sales Ingenuity
Are you short staffed? (Who isn’t, right?) Don’t think about this just as a staffing problem. Consider approaching it as a marketing and sales problem. Here’s what I mean. To fill your vacant positions, you may need to kick up your recruitment messaging to really win over employment candidates. After all, EVERYONE is hiring right now—from the community down the street to the retailers on every corner. You have a lot of competition for job candidates. If you want a chance of filling your empty seats, you need to stand out from the crowd. Here’s an example to inspire you. Check out the Texas Apartment Association Education Foundation’s Room to Grow campaign. They do an amazing job of telling the story of multifamily as an exciting, promising, long-term career choice loaded with upward mobility. They offer specific selling points of the various roles, and testimonials from people in the trenches. (Testimonials are marketing GOLD.) What could you borrow from this approach to improve your hiring efforts?   What marketing and sales skills can you direct at your staffing shortage to help you recruit new team members? Do you have success stories to share? I’d love to hear them! What’s worked well for you?     The labor shortage is real, and it’s not going away any time soon. It’s time to get creative and really sell all that you, as an employer, have to offer. There are people in your organization who excel at marketing and sales. Loop them into this challenge!  Co......
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Fair Housing and Sexual Harassment - Staff and Resident Relationships

Fair Housing and Sexual Harassment - Staff and Resident Relationships
  What is sexual harassment in fair housing? Sexual harassment in fair housing focuses on staff or vendor interactions with residents as well as interaction between residents. Just as your staff is trained in sexual harassment between fellow employees, there needs to be training that focuses on how the staff interacts with residents with clear policies that define what is and isn’t acceptable behavior. This article will discuss different scenarios that could affect staff/resident relationships and what needs to be done to avoid a fair housing sexual harassment complaint.   Courteous or Too Friendly? Of course, we always want our staff to be courteous and respectful, but when can that cross the line? Consider, for example, an employee who pays a resident a compliment, perhaps on an article of clothing. This may seem totally acceptable. But what if this staff member continues on with compliments or is noted to pay certain residents more attention than others?   When we talk about sexual harassment, it may be difficult making distinctions about what’s legal and illegal, because there are broader definitions that include the culture or environment. The legal definition of sexual harassment is asking for sexual favors and doing it in a manner that suggests there will be a benefit to the person: they’ll get their rent reduced, they’ll get better services, things like that. Does this mean we are free to say anything as long as we aren’t getting something in return?  A casual conversation or compliment dropped one time is probably ......
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What is the Michael Jordan effect in real estate investing?


Michael Jordan is arguably the greatest basketball player to have ever lived who consistently got referee calls to go his way. Some thought it was unfair. If you want the unfair advantage in real estate investing, take a listen to this video. Andy Andrews (https://www.andyandrews.com/), is an in-demand speaker, coach, and consultant for the world’s largest organizations. Andy once wrote about the Jordan Effect (https://www.andyandrews.com/the-jordan-effect/) on this website in a blog. Jordan put in meaningful time developing relationships with referees because he liked them. In turn, those referees would sometimes give Michael Jordan the benefit of the doubt on close calls during a game as opposed to the NBA players that would cuss, yell at the referee, and generally be unpleasant. Michael Jordan is arguably the greatest basketball player to have ever lived who consistently got referee calls to go his way. Some thought it was unfair. If you want the unfair advantage in real estate investing, take a listen to this video. For other helpful tips on how to buy more multifamily assets, visit https://www.beaubeery.com/book. Andy Andrews (https://www.andyandrews.com/), is an in-demand speaker, coach, and consultant for the world’s largest organizations. Andy once wrote about the Jordan Effect (https://www.andyandrews.com/the-jordan-effect/) on this website in a blog. Jordan put in meaningful time developing relationships with referees because he liked them. In turn, those referees would sometimes give Michael Jordan the benefit of the doubt on close calls during a game as opposed to the NBA players that would cuss, yell at the referee, and......
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What Challenges Can I Expect When Buying CRE?

What Challenges Can I Expect When Buying CRE?
Buying commercial real estate can be an exciting opportunity if you are venturing into the CRE scene. There are a few challenges that you may encounter, such as qualifications for a loan, financing issues like amortizations, down payments, and interest rates. We will be discussing these challenges below.   Qualifications for a Loan Start with making sure that you have a good credit score before venturing out into any business. Though there are cases where many choose not to loan from a bank, you may still need to go through some bank assistance if the property owner requires that the payment goes through bank financing. It is also always best to be prepared in case you may need a loan in the future. If you decide to get a loan, you will need to make sure it is clear what it is for and how it will be used -- the bank will ask these questions. It is also advisable to do as much research as you can moving forward and due diligence on the area where the property is standing. Besides a good credit score, you will also need to convince the leader that you will pay back the CRE loan.  The next step is to have the requirements to qualify for a commercial real estate loan. You will need different applications and supporting documents such as a business plan, personal tax returns, and other legal documents. If you already have other businesses, they may ask to see your business......
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Save Your Pennies!

Save Your Pennies!

Are you wanting to create focal and memory points to merchandise your model units? Look no further to achieve this through an easy design update.

We spy with our little eyes a classic, retro and modern look. 

 

Penny rounds are enjoying their time to shine. 

 

 

Simple, chic and subtle from crisp white to carrara grays to marbled black.

 



What’s old is new again in this throwback style. 

Look for mixed media in so many styles ranging from ceramic, porcelain, true stone, metals and even glass penny mosaics to make a beautiful backsplash. 

 

 

Create that spa feel, a-ha moment with pennies for your next refresh. 

 

 

Many pennies are rated for shower floors not just walls. Just check with your flooring specialist on the deets. 

 

 

🎶 Circle circle dot dot….(now that’s a throwback!) 

Tracy

 

 

 

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3D Floor Plans, Virtual Tours, & Renderings- A look at how virtual tours can increase pre-leases.

    Pre-leasing can make or break the success of a new apartment community, especially in today’s competitive multi-family market. Adding assets like 3D modeling, virtual tours, and interior renderings allow developers, property managers, and real estate marketing leaders to create more interest in their properties before the construction process is complete.   By using these tools in your marketing plans and content you are able to connect with future renters and give them the visual information they need to make a decision on whether or not your property is the right fit for them at an extremely pivotal time in their buying journey.    1) Why Would I Want a Virtual Tour or Interior Rendering? The obvious answer here is that it is literally impossible to showcase what your spaces will look like without these assets while your property is being built.  3D floor plans, virtual tours, and interior renderings give you access to digital assets that can accurately and effectively present your property's key features when it is physically impossible to show them.   2) What Makes a Good Virtual Tour or Interior Rendering? Accuracy. The purpose behind creating these assets while your property is still in the construction or developmental phase is to accurately present what the interiors and exteriors of your spaces and units will look like. The idea here is to be as close to a real photo or video as possible. Having photo-realistic visuals ensures that what future renters are seeing matches what they wil......
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Smart Access Popularity Grows in Self-Show PropTech

Self-showings are growing in popularity more each and with the COVID-19 pandemic, it has become a popular go-to option. Allowing prospective residents to tour properties themselves rather than having to schedule a showing around an Agent’s schedule and deal with any external factors allows for a true time and effort savings for everyone involved!  The most common way to host self-showings has been with lockboxes which commonly include a code, whether it is a changeable or digitally changeable one, that the prospective renter must enter to receive the house key. They must then remember to lock the house, put the key back in the lockbox, and give off the appearance that they didn’t even enter the house. Like most forms of technology, this process eventually evolves and that is where Smart Locks come into play. Some companies are creating Smart Access. For example one company, ShowMojo created their own Smart Lock which doesn’t require any keys and can be a huge weight lifted off of the backs of property owners, managers, and residents. You don’t have to worry about prospective renters losing the key during the viewing process, you don’t have to worry about tenants losing the key during their time living at the property, and you don’t have to worry about re-keying at the end of a lease so it takes care of the fees and headache that come with that process.  Smart Access, which is secure, affordable, and flexible access technology built right into your door provides dependable and trackable r......
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