property management tips

Multifamily’s Best Kept Secret

Multifamily’s best kept secret is no secret at all; that long-term ownership provides significant financial rewards.  Why do I call this a secret?  Because  so few take advantage of the power of income compounding that is included in the rewards of long-term ownership.

In it’s simplest version, even if expenses keep pace with rents (rents rise 3%, expenses rise 3% year after year) then still, over time, debt is reduced.   After a period of years (say five or more) when  debt is refinanced at its’ current balance (meaning no cash out at re-fi) then cash flow increases.  Cash flow increases.  Did I mention that cash flow increases?

Buy and Hold…

Property Managers

What to do in an Active Shooter Scenario

The tragedy that occurred yesterday (Dec. 2, 2015) in San Bernardino was horrific, and hit very close to home with our corporate offices being located nearby and several clients a few blocks away from the shooting. It was a difficult reminder that these situations are real and can happen anywhere, and at any given time. For your staff’s safety and the safety of those you care about, read on to learn what to do  if ever faced with an active shooter.

Property Managers
property management tips

November 30th is Computer Security Day

The holiday encourages people to secure their computers and their personal information.

Secure your computers, electronic devices and online passwords.   Computers, electronic devices and smart phones have made our lives easier by making communication faster, more convenient and more efficient. At the same time they have created many privacy and security issues. The holiday reminds people to stay on top of their computer security and to take steps to make their personal information and data secure.

Property Managers
property management tips

Home Ownership: A Cornerstone of Community?

The historic base for the home-ownership rate in the United States is 63%.  This rate almost touched 70% in the early 2000’s before crashing back to the historic norm.  Now at 63% pundits presume it will remain there into the near future.  An interesting fact is that while household formation is increasing the home-ownership rate is not.  Why?

One reason is the shift in perspective on the “American Dream” of home-ownership.  While this cultural phenomenon remains part of the American psyche, frankly, it has lost some of its luster based on people experiencing the pain of prices moving significantly in both directions in a compressed timeline.

Property Managers
property management tips

How to Handle Difficult Residents

There’s a difference between problem residents and resident problems. Apartment community staff members should know the difference and be able to respond accordingly.

Apartment community management is one of the most people-intensive jobs in the marketplace. The personal nature of the service — providing customers with a place to call home — can lead to some very strong opinions and expectations that may not necessarily always be met.

Property Managers
tenant screening

Renters & Credit Trends Part 1: Credit Check-in

Anyone who has ever rented an apartment knows that a credit score is one of the most important qualifiers property managers use when making a decision to offer a lease to a prospect.

While renting and credit have always had a connection during the lease approval process, it wasn’t until paid-as-agreed rental payment history data was added to credit reports that renters could build their credit history after a move-in by paying their rent on time.

Property Managers Resident screening Tenant Screening
ban the box

Federal “Ban the Box” Bill Introduced in U.S. Congress

Bipartisan, Bicameral Group of Lawmakers Unveil Legislation Aimed at Federal Contractors

“Ban the box” legislation has been introduced for the first time at the federal level, reflecting a broader trend witnessed in dozens of states and municipalities.  On September 10, a bi-partisan group of lawmakers in both houses of Congress introduced the Fair Chance Act (S. 2021  / H.R. 3470), which would prohibit federal agencies or contractors from asking prospective employees about whether they have a criminal record before a formal job offer has been extended.  Once a conditional offer of employment has been made, an employer would be permitted to ask about the applicant’s criminal record and revoke the offer based on the results of a criminal background check.

HR Advice Legislation