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Are you doing this for your Service Team in the summer?

A/C service calls and work outside in general are at an all-time high and very often your technicians have to work outside in the sun, on rooftops, in attics, crawlspaces and very unhospitable places to make sure their customers, the residents, have air condition and can enjoy their home at a comfortable temperature. Too often though, nobody regularly checks on the technicians throughout the day to make sure they haven't suffered from a heat injury or show any signs or symptoms. It can be as simple and make sure there is water and healthy drinks available all day and that they have to let their supervisor or manager know they are staying hydrated. The last thing you want, is to find a technician that suffered heat exhaustion or heat stroke because someone didn't think to check on them or have water and fluids available.  If someone is going to work on a rooftop or in an isolated area they should check in every so often (15 minutes) to let someone know they are alright and doing well.  The surface temperature of many rooftops is over 140 degrees, an attic can be just as hot, and it is already hot enough outside in the sun and shade. Even just walking around on the hot asphalt exposes a technician to much more heat than walking on concrete or grass. If you measure the difference with a thermometer, the temperature difference between, grass, concrete, asphalt and a rooftop or attic is significant. Often times the difference ......
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Difference between Commercial and Residential Real Estate Management

Difference between Commercial and Residential Real Estate Management
If you have ever owned a house or duplex that you have rented out and you feel like you are ready to move to the next level I have a few guidelines to help you get started. First and foremost, you’ll need to decide what asset class you would like your next investment to be in. Here are a few different types of assets that you can focus on:   1. Office  2. Industrial  3. Retail  4. Multifamily  5. Hospitality   The Commercial Leases  You will find the commercial lease is a lot longer and much more detailed than your residential lease and it will spell out common area maintenance fees, increases in rental amounts at certain dates, concessions, tenant improvement work, and just about everything else. Even in the same building, the terms negotiated on a commercial lease can substantially vary from one tenant to the next. There is a good chance that your tenant will have an attorney review all lease documents and you will have a few revisions before the lease is actually executed. Commercial leases are either a gross lease (the owner pays all the utilities, taxes, and insurance), a net lease, or a modified gross lease. There are several types of net lease, but the one you’ll hear about most often is a triple-net lease where the tenant pays their proportional share for everything (taxes, insurance,utilities maintenance, repairs and capital improvements) on the building. A modified gross lease is where a tenant may pay their share of ......
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How to Maximize the Storage Space in Your Multifamily Apartment Units to Increase Rents

One thing that residents will always want in an apartment is as much space as possible for a rental price that they see as justified. However, many multifamily apartment homes are not known for offering a ton of features that increase storage capacity, so when a renter finds a hidden space gem, they’ll pay more for it.    Renters are very familiar with having clutter that easily piles up because of limited storage options; a main drawback of apartment living. When renters feel the need to fill up their floorspace with extra dressers and other storage containers, the livable footage of the apartment becomes smaller and smaller and their frustration grows bigger and bigger.    Providing your renters with increased closet storage capabilities in your multifamily apartment units will not only help you attract more renters, but also make your units more valuable and keep renters leased longer.   If you are looking for an easy renovation project that will increase space and storage in the apartments you own or manage, the best way is to start optimizing your closets.  Optimizing Your Multifamily Closet Space Most closets in multifamily housing units are severely underutilized with sometimes less than 50% of the functional space available being used for storage. Master bedroom closets are where the largest waste of space usually occurs. Many apartment complexes tout walk-in closets as one of the draws to rent from them; however, these closets are not used in a way that actually maximizes storage and space.   T......
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The Importance of Mental Health in the Apartment Industry: A Lesson From Simone Biles

Simone Biles won six medals in the 2016 Rio Olympics—five of which were gold. According to USA Today, Biles was projected to win five gold medals at this year's games in Tokyo.

Simone Biles is one of the—if not the—greatest gymnast of all time. Actually, she might be considered one of the greatest athletes of all time.

And on Tuesday, Biles withdrew from the Olympic games.

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How Leasing Teams Can Influence This Year’s Budget Season

That time of the year is quickly approaching — multifamily budget season! Multifamily communities and corporate teams are busy planning next year’s budget. That means marketing and onsite teams are eager to learn what existing tools made the cut, what new tools they will leverage, and what tools are no longer needed. Instead of waiting to hear from corporate teams on what tools or platforms are recommended, leasing teams could advocate for their favorite or desired tech-enabled tools. After all, leasing and management teams are or will be the ones using those tools on a daily basis. While corporate teams could comb the internet for ideas and tips, it’s always recommended that onsite teams share what really matters to them with their corporate teams. To take that a step further, prospective and current residents’ preferences also matter, which you, as a leasing professional, are the one capturing and experiencing firsthand. So let’s dive into what we feel are two of the important topics that leasing professionals can and should focus on when advocating for tech-enabled tools in their 2022 budgets. Data Doesn’t Lie If you’re looking to advocate for a technology that you either want to keep or want to get for your team, equipping yourself and your team with data is a way to move the needle on the likelihood of getting / keeping that platform. Here are a few statistics onsite teams can use to showcase why video is an integral part of the leasing process to corporate teams: Videos are s......
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Hot Girl Summer: A Comprehensive List of Warm Weather Activities for Your Residents

Summer is in full swing, which means you can plan some fun activities for your residents. And, since it's warm out, you can host a lot of your events outside, which is more conducive to social distancing. Also, it's just nice to be in fresh air, instead of hunched in front of our computers like we are most of the year. (If I want to be staring at a screen in the middle of the summer, I can be checking Instagram while sitting on a lounge chair, thankyouverymuch.)

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Demystifying Machine Learning and AI in Multifamily Marketing Analytics

Demystifying Machine Learning and AI in Multifamily Marketing Analytics
Overview Machine Learning and Artificial Intelligence (AI) are oft-cited buzzwords in our contemporary conversations about property operations and analytics -- but what are their meanings and, more importantly, how can their application benefit multifamily business operations?  If you are encountering these concepts in internal meetings, vendor presentations, and sessions at conferences -- but wish to take a deeper dive, you've come to the right place.  This article aims to demystify the concepts of Machine Learning and discuss their role in the broader context of Marketing Analytics.  So, first, the terminology..... What is Machine Learning?  How is it different from Artificial Intelligence?  Machine learning is a method of data analysis used in computer software to identify patterns in data and make recommendations for optimization based on those patterns.  Artificial Intelligence is a broader discipline, that includes Machine Learning -- but also represents a higher level of cognition. An example of Artificial Intelligence technology would be in certain types of robotics, where a more human-like sense of reasoning would be applied -- such as with self driving cars -- whereas Machine Learning is more focused on analysis and logic.  In this article, we will focus on Machine Learning, as a fundamental concept for building Marketing Analytics systems.  How does Machine Learning work?  The basic principle of Machine Learning is that it takes a set of assigned data; finds patterns within that data; builds a model around those patterns; then tests and refines that model to make recommendations based on the patterns in that data.  What are......
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4 years for 9 seconds.

4 years. 4 years for 9 seconds. 

I'm posting this today to remind you to not give up! Some sales cycles are longer than others. Keep your relationships, your reach outs, and your follow ups going. Results will come! 

 

 

 

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Trend Alert ~ Camo Chic

Trend Alert ~ Camo Chic

Do you have a say in your model refresh? Did you know that there is color psychology in design? (Yeah, you did!) People often gravitate toward colors for their home off of colors they wear most often in their closet. Fashion meets flooring often, especially neutrals, like staples from our wardrobes. 

 

Camouflage with all of its fun whimsical colors are popping up everywhere from clothing, shoes, accessories and decor. And we can’t get enough. 

 

Camo isn’t just for hunters anymore. This is a go-to style!

 

So here’s a few side by sides of some fave finds that have your clients’ closet coordinating with your spaces and places. 

Comfy hoodie playing well with textured waves in this herringbone tile with contrasting grout. 


Cozy joggers coordinating with wood plank looks.

 

Barely there grays in your tee and your subways.

 

A turquoise twist in your leggings and your accent tile.

Warm tones coordinate with your sweats and your shower walls.


A raw edge jacket blends well with an edgy dark taupe backsplash in your coffee lounge area.

Icy grays pull this blazer and this wood plank floor together.

 

Try these camouflage tones in your next reno or refresh. Let us know your favorite look in the comments below. 
Now you see me. Now you don’t!

Tracy

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Multifamily Assault & Battery: Coverage Challenges in the Insurance Market

As any property & casualty insurance broker can tell you these days, commercial insurance rates are on the rise, with double-digit increases not uncommon.  A number of factors are contributing to growing premiums for insureds, among which are the following:  costly repairs from recent natural disasters, the increasing frequency and severity of auto claims due to distracted driving, economic uncertainty surrounding the Covid-19 pandemic, and nuclear jury verdicts where the awarded damages are multiples of what they used to average even a few years ago. Unfortunately the multifamily industry has not avoided these rising insurance costs.  Like all real-estate-centric companies, multifamily property coverage costs more today than it did even a year ago, particularly for those with a portfolio heavily exposed to wind, flood, and earthquake risks.  On the casualty side, rate hikes for general liability and umbrella liability (which sits over general liability and auto liability policies, providing higher limits of coverage) are also a reality facing multifamily businesses.  But there’s one facet of general liability insurance that is affecting the multifamily (and other habitational markets) in an unexpected way:  coverage for assault and battery.  Let me take you back to October of 2019.  At that time one of my clients, a large multifamily development and property management company, had advised that they’d just sign a contract to manage a third-party apartment complex.  We informed the client’s general liability carrier, Philadelphia Insurance Company, so that they could endorse the client’s policy to add the location, as we had done for all of ......
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