Expert Blogs

Before you can begin to analyze a rent roll, you must have the basics.  Having these in hand, rent roll analysis can begin with simple, yet powerful outputs that tell you about the financial strength, or quality of income, derived from your rental property.Baseline data is basic information gathered by your team. It is used later to provide a comparison for assessing facts provided by ownership or management.Baseline data is fact–based information...

“Best” service, especially in the property management industry, can be deceiving because the needs and expectations of your residents are changing and evolving rapidly.  In addition, your residents are comparing your apartment communities to both your competition and to best service with every company, product or service they experience.  By reading this article, you will learn the steps for developing a system so your residents can tell...

What is your business model in multifamily?  Can you express it in a few short sentences? We all get comfortable with doing things a certain way.  Successful businesses have found a niche and excel at providing a product or service that has repeat customers.  Yet successful businesses continuously reinvent themselves to compete more effectively in their market niche. Whether you are in retail, manufacturing or multifamily there are certain...

During the course of your professional career as a property management executive, building new compensation plans will be one of the most important projects you ever undertake.  In fact, this project has the potential to be an explosive issue for your team of SuperStars and must be designed with great care.  The information in this article will outline three important steps for building powerful compensation plans and will share many secrets for your...

The original premise for this article was to build a thesis for applying the Apple mission statement to the  multifamily property management business.  Well, a read of the Apple mission statement (if you can find a recent one) is not a mission statement at all;  it focuses on products and that's about it.  No mention of community, values, partners, customers, employees. Noth'in. A further review of company mantras gleams a vision...

Property assets can fall into disrepair in many ways and for many reasons.  Often, just walking or driving by an asset will show signs of dis-repair or a lack of care.  And that's without stepping on property! Why are potentially valuable assets left to fall back into the sand? There are a myriad of reasons, of course.  Following are the categories that most often result in assets looking like they've been beat with an ugly stick. The...

According to a recent survey by Matrix Information, three billion people around the globe have access to Internet-based services and E-mail.  In addition, this report expects electronic commerce to grow from $3.2 trillion in 2013 to $6.2 trillion by the year 2015.  Is your property management company ready for these exploding communication and marketing trends?  Is your leasing team ready to handle the E-mail just sent by 15 new prospects...

Property management companies that run efficiently have significant systems in place for each phase of operations.  Further, it is often emphasized that responsibility centers do not overlap (yes- we are leaving "cross-training" behind for the moment).  In so doing we maintain specialization and focus.  This is the way of the world for large well-heeled organizations.  Then, there  is everybody else. The property...

If first impressions are formed by a new resident within 10-12 seconds of meeting those on your leasing teams, what impressions do the walls in your office make?  Can your walls sell?  Can your walls motivate and inspire you and your leasing teams?  You bet they can!  This article will show you three easy steps to make sure your walls are selling - 365 days a year.  Inspiring your residents:  First, recognize that every time a...

Once you have hired a new property management SuperStar, the next step is critical.  It’s now time to welcome this SuperStar into your property management company in a way that will accelerate their success and make a lasting first impression.  Read the three steps outlined in this article to learn special tips for welcoming a new SuperStar and how to organize a positive and productive first week.  Organizing their arrival: When...

While not everyone has a billion dollar portfolio (or multi-billion dollar portfolio)  it is fun and informative to be in the know about  those who do. When it comes to powerhouse information sources, who are the big dawgs on campus?  There are a few at the top of the  list that provide quality information. NAREIT.  The National Association of Real  Estate Trust.  NAREIT defines within their reporting segregates...

In a recent interview with the Wall Street Journal  (Nov 25, 2013) U.S.  Commerce Secretary Penny Pritzker was ask how to address political dysfunction.  The core question was about how to get around all the rhetoric considering the constant hum of political noise.  In part, here is her answer: "It requires what I know from my business career. Establish relationships, establish credibility, work hard, and make your arguments. ...

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