Nice post Judy. Yes and social networks are still a great way to make sure you communicate all that...
Drew Brucker
Hey Ann, thanks for adding in your thoughts. Great perspective.

I absolutely believe Gen is/will ...
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Posted by on in Miscellaneous
b2ap3_thumbnail_For-Rent-Book-Review.jpgFor Rent: The Apartment Manager Series is a fun ride through the door of property management, following the adventures of our heroine, Cambria.  Like many of us, Cambria's story crystallizes how common it is for us to not necessarily enter the industry with a plan to be property managers, but rather fall into this crazy industry out of nowhere, until it sucks us in to its chaotic underbelly. Cambria, a single mom who is desperate for money, finds herself as the manager of a small property with plenty of quirky residents who seem to make it their goal of tormenting her as she struggles to understand the ins and outs of management an apartment community.  Add in a string of car thefts and a mysterious bag of wallets, Cambria's first forays into property management suddenly progress from gently getting her feet wet to a riptide trying to drag her under.  The book is a fun, fictional take on apartment management with over-the-top characters and a quick flow that slides the reader through the adventures of Cambria, as she desperately tries to learn the ropes.  Go in with expectations of a humorous take on property management, and you will undoubtedly enjoy For Rent: The Apartment Manager Series....

Posted by on in Miscellaneous
Let’s face it, 2016 was a tough year. We’ve lost so many beloved icons, I’m still trying to wrap my head around it. 2016 brought us a newly elected president, new Star Wars movies, terrible acts of terrorism, refugee crises, the death of Fidel Castro, a heartbreaking season premiere of The Walking Dead (yes, I yelled at the TV and maybe cried a little…OK a LOT—don’t judge me), Brexit, earthquakes, the Olympics, the Zika virus in Brazil, Kanye exhausted and hospitalized, plane crashes, Juno orbiting Jupiter, hacked election emails, and Hatchimals becoming the new Tickle-Me-Elmo. Oh, and let’s not forget Mariah Carey’s meltdown on New Year’s Rocking Eve. (For the love of the Pete, who runs around in the equivalent of a teeny tiny bathing suit in Times Square? I got frostbite just looking at her!) I’m exhausted from thinking about all last year wrought. Looking back on January 2016, I realize I don’t recall my 2016 resolutions. Something about being healthier, working harder, eating better, blah blah blah. The usual. I had my ups and downs, successes and…um…let’s call them less-than-successes. What about you? What were your resolutions? Did you succeed? Or did life start derailing them right around January 5th to the point where, like me, you can’t even remember them? So 2017—here you are. It’s with a sense of optimism that I’m diving in.  New year.  New me.  More than that, I’m looking forward to taking everything I learned in 2016 and making 2017 even better. I’ve been thinking...

Posted by on in Property Management
As the curtains draw on yet another eventful year in the rental industry, our eyes turn towards 2017 with excitement and optimism. 2016 has seen the industry go through many milestones, with the latest and one of the most critical ones being the hotly contested U.S. presidential election- which going by previous predictions, would have seen a slump in the rental and overall real estate appreciation rates. Fortunately, despite a tight, uncertain race, the industry has remained stable, and tenants continue taking up properties even in some of the previously dormant market areas. With that out of the way, 2017 is expected to be very stable, with almost no risk of a crash downturn. Rental markets in areas like New York, Miami, Denver, Seattle, San Francisco Bay Area, San Diego, Los Angeles and Dallas, are expected to be particularly strong, aided by: Donald Trump’s proposed approach to “draining the swamp” Overall outlook of the US economy. It’s predicted to enjoy a mild cyclical rebound in 2017 Cost of production pushed up by labor shortages Government deregulation trends The rise of millennials as prime renters Gradually rising mortgage rates Evidently, the market is yours for the taking. However, to fully benefit from the recent uptake in rental units, you need to start the New Year with a solid strategy seeking to fuel persistent growth through the next 12 months. And that should form the bulk of your New Year’s resolutions. To help you track and implement them adequately, we’ve kept them brief and actionable, focusing only the most...

Posted by on in Apartment Investment
The year was 2011. My business was floundering and I was working just as many hours but earning less. Does that sound familiar? I finally built up enough anger and leverage to take action and dedicate myself to investing in multifamily real estate with the intention of earning enough passive income to allow me to quit my business (aka job). This article will outline the path I took to achieve my goal while creating a framework you can follow to pursuing multifamily real estate.   1. Create enough why2. Leverage3. Thought-desire-action-result4. Education5. Network6. Meet partner/pick market7. Dive into market/analyze deals8. Patience persistence willing to walk away9. Continue education10. Focus on getting first deal done11. Close first deal12. Start hunting for the second deal13. Close second deal14. Repeat step 13 until you reach your passive income total   The journey of a thousand miles begins with the first step, but if you don’t have a strong enough reason to begin the journey, you will never start. Or, in my case, the beginning of the journey will take you in the wrong direction. When I first began investing in real estate, I did not have a strong enough “why” and I definitely lacked a plan or strategy to achieve my goal. Only when my situation at my business became dire and I created enough leverage to take action was I able to dedicate myself to the journey. What was my thinking during the decision phase? I wanted to get out of the rat...

Posted by on in Property Management
With just 23,000,000 landlords serving over 110,000 renters in the United States, one thing is clear- the rental market is doing really well. As a matter of fact, there are more than 2600 new renters every day. Going by these figures, you’re pretty much guaranteed to receive tons of tenancy applications for a good, strategically priced piece of property. Unfortunately, this presents a challenge, combing through all the applications to weed out the ne’er do wells. Of course no one would want to deal with a troublesome tenant, right? Well, strangely, 23% of landlords do not even bother to conduct credit checks on their applicants, and 49% do not get in touch with past landlords or other references provided. If you thought that’s bad enough, 66% don’t conduct Sex Offender Registry checks. Of course this is great news to shady characters, but potentially detrimental to landlords and other tenants. While a couple of landlords claim that they fail to conduct comprehensive checks because they simply don’t have the time and resources, many of them admit that they just don’t know how to do it. So, how do you effectively screen your tenants legally? Federal Laws on Discrimination We agree that sometimes tenant screening may feel like some form of discrimination, especially to prospective tenants who are eliminated. It’s actually an elimination process, which can only be described as “discrimination” when a landlord breaks any of the discrimination laws. At a time when “discrimination” is progressively gaining a bad flavor in American mouths, it’s critically important for landlords and property...

Posted by on in Property Management
December is a busy month. There are office parties. End-of-year sales. Holidays. (Plus don’t forget December birthdays! Although everyone always does anyway. Sigh. I’m going to pour one out for my homies, my fellow forgotten Sagittariuses.) And, of course, all of the tips and presents.   Read on for the full blog....

Posted by on in Property Management
Dear Gabby, I knew being a property manager isn’t easy, but it’s proving to be a lot harder than I imagined. There are so many responsibilities to balance, but I’m still determined to be the best in the biz. Any tips? Sincerely, #IWannaBeTheVeryBest     Dear #IWannaBeTheVeryBest, So you want to be a perfect property manager eh? The property management world can be highly rewarding one, but it’s definitely not for the faint-hearted. I’ve been working in the industry long enough to know what personalities and skill sets are better suited for this line of work. Just call me the Mr. Miyagi of property management. Learn how to focus on your goals and start with the basics. The rest will follow. Afterall, someone who can catch a fly with a pair of chopsticks can accomplish anything (note: this is not an official requirement of being a good property manager, but it would make for a killer party trick). It may seem like you have a long path ahead of you, but have patience young grasshopper. Let’s start with some of the imperative qualities of today’s successful property managers: 1. Communication A property manager must have excellent communication skills. Residents must be able to reach the property manager for emergency and non-emergency related issues. Keeping the lines of communication open can be challenging when the phones are ringing, your email inbox is full, and residents and potential residents alike are lined up at your desk, but it’s important to do so if...

Posted by on in Affordable Housing
The multifamily real estate market in the US is on the rise for the past few years; therefore, the demand of affordable housing units is also steep. Though multifamily units have transformed urban living, large occupancy rates are posing diverse challenges such as energy efficient affordable housing and high utility rates, which are a definite threat to the environment. To curb wastage of resources and make living spaces eco -friendly, investors need to take a few measures. Continuing the discussion, the blog post discusses a few ideas to turn multifamily units more eco-friendly than before.  1. Invest in Green Zones A large number of multifamily occupants are millennials with a desire of lush green zones inside the units, where they can grow fruits, herbs, vegetables to nurture irrational passions. In addition, investing in solar panels for an uninterrupted power supply can also turn the property into an energy efficient affordable housing. Doing so can minimize the dependence of the building on conventional fossil fuels to generate energy, which is a boost to the eco-friendly initiative. 2. Focus on Water Conservation Conserving water is a vital aspect in multifamily units, in order to avoid the exorbitant wastage. Therefore, investors need to plan in advance and opt for low-flow faucets, high-efficiency toilets and timer-based irrigation and sprinkling systems to keep a tab on water usage in the units. In addition to that, investors can also consider installing systems to track water usage or arrange water conservation programs to assess the monthly efforts. 3....

Posted by on in Multifamily Industry News and Trends
The holidays are a crazy time for package delivery. With the rush to order presents for friends and family, it's no surprise that the amount of deliveries increases. This year, "increase" is putting it lightly. 2016's numbers blow last year's completely out of the water. Check out these five holiday package statistics that put this year's massive package volume surge into perspective.  1. Package volume has skyrocketed—an 80% increase in just one week.  Black Friday and Cyber Monday are famous for sparking huge spikes in shopping, and rightly so; consumers spent $3.45 billion on Cyber Monday alone, making it the biggest online shopping day in US history. In the following week, apartment complexes all over the world felt the aftermath—according to our package locker activity data, the amount of packages shipped and delivered to lockers increased by over 80%. In just one week, package volume almost doubled. 2. As December continues, package volume is increasing, not decreasing. The record-breaking package delivery numbers aren’t going back down. They’re going up.  Instead of slowly settling back down after the Black Friday & Cyber Monday spike, package volume is continually increasing as the holiday season progresses. In the week of December 4th to 10th, there were nearly 4,000 more deliveries to our package lockers than the previous week (and the previous week was the big post-Black Friday surge)! And last week – December 12th to 18th – saw even more package volume than the week prior, with no signs of slowing. 3. Properties saw 50% more post-Black-Friday packages...

Posted by on in Student Housing
A few months back, we had the opportunity to speak on a panel at the CFAA Rental Housing Conference with Max Steinman from Landlord Web Solutions discussing apartment marketing and digital content. Max brought up a good point about the lead-to-lease timeframe, saying apartment managers and landlords need to respond to email and telephone inquiries in less than 24 hours. He posited that leasing agents who fail to follow up promptly inevitably lose potential tenants.    This point is very important; especially in the student housing sector. Students nowadays have high expectations for a quick response and usually have little patience; especially millennials.   But can you blame them? Society has fostered innovation to take the waiting and inconvenience out of practically everything. It’s no surprise that students want an instant reply to their email inquiry, text, voicemail or Facebook message.   A study conducted by Vacation Rental Services found that the average rental inquiry response time was 8.73 hours, which sounds fairly reasonable. However, for student renters, this may not be fast enough. Most students will typically send out multiple inquiries on various properties all at once. The first leasing agent to respond will have the greatest chance to schedule a property viewing appointment.   So what is an ideal timeframe for responding to a student’s rental inquiry? Responses should be made within 3 hours or less.   To determine the expectations of tenants, we took a look at research done in other rental segments. While there hasn’t been any research done specifically for the student...