national consumer assistance plan

Phase Two of the National Consumer Assistance Plan is Now in Effect

Phase Two of the credit bureau’s National Consumer Assistance Plan (NCAP) is now in effect! Experian®, Equifax®, and TransUnion® have been slowly rolling out the implementation of these standards in phases, with full implementation expected by March 2018, in the hopes to improve the quality of their public record data. Because of this, industries that depend on credit reports will see a significant change and the multifamily housing industry will need to be prepared.

NCAP’s Phase Two

While it is likely that the bureaus have already implemented parts of these new requirements prior to the effective date, according to TransUnion®’s data reporting initiatives, credit reports will have the following changes:

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How to Protect Yourself from the Equifax Data Breach

On September 7th Equifax had a major security breach that potentially compromised 143 million consumer’s personal information. The information accessed includes names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers. In addition, credit card numbers for approximately 209,000 U.S. consumers, and certain dispute documents with personal identifying information for approximately 182,000 U.S. consumers, were accessed.

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4 Inexpensive Amenities Millennials Really Want

When you see articles within the multifamily industry talking about the amenities millennials want, you see smart locks, partnerships with urban coffee shops, and free yoga classes… but do all millennials really want these things? While most renters (millennials or not) wouldn’t mind living closer to their favorite coffee shop, after interviewing renters across California, I’ve found that ‘Generation Yers’ might not have as expensive tastes as the industry thinks. In fact, millennials are quite interested in finding a home with inexpensive amenities.

Property Managers
multifamily conference and expo follow up

How to Follow Up with Vendors after a Multifamily Conference

Whether you’re a networking newbie at multifamily events or you’re a true rental tradeshow veteran, knowing how to follow up with exhibitors and vendors after the conference is a crucial step to networking. Don’t let the connections you built up at a tradeshow go to waste. If you take the time to properly follow up and build relationships with your colleagues and vendor representatives, you’ll be able to reap the career benefits later on.

Property Managers

You Should Be Concerned If This Is How You Collect Rent

Original post on Payrent.com

Although PayPal, Venmo and direct deposits are fantastic features, there are negative consequences with collecting rental income through these applications. I hope you never experience these problems, but I want to educate you on worst case scenarios. Approximately 2.7 million families face eviction each year, and collecting rent improperly can adversely affect your business.

Property Managers

Resident Gifts that’ll Make a Lasting Impression

You know firsthand that first impressions are important when a resident begins their relationship with their rental community. Move-in is already stressful, sweaty, and hectic, and one small thing off with the rental unit within the first week can create a lasting bad impression of the management company and staff. While you can certainly ‘kill them with kindness’, adding a resident gift as well ensures that you have happy residents (every time) and maintains your community’s good reputation.

Property Managers