Expert Blogs

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 How do buyers measure their purchase? How do they know if they have a winner? Almost any measure requires the use of a timeline.  Buying a deal for a $1 and selling it for $2 requires knowing when the dollar was...

According to the Society of Human Resource Management {SHRM} over 50 percent of the information presented on a resume by a job candidate may be false or misleading.  These are alarming statistics, and as the executive of your property management company, it continues to be increasingly important to understand the mindset of the job candidates that are applying for positions within your company.  This article will help you and your company strengthen...

The question that will come to mind as you read this is “who does that?”.  The unfortunate answer is too many people. We are in an industry full of talented people.  Mostly.If these mistakes are occurring with your assets it is probably time to look for new management, first to stop the damage and second to remedy the potential of on-going issues and the exposure they present.  Suffice to say these are...

American’s are obsessed with being #1.  The United States has a place in history as the worlds remaining “super power”.  And would we celebrate being #2 in economic output, military strength or technological innovation?  Probably not.But what about in our chosen business?  Is being #2 considered failure?  Let’s pick some businesses at random.  How about owning the second largest movie theater chain in...

Weather is big business.  The Weather Channel on cable started in 1982. Of course, we had weather long before then (pun intended). It’s just amazing how the terms “partly sunny” and “mostly cloudy” have turned into a 24/7 industry. Real time information transformed the way we look at weather reports and forecasting.As property manager’s, managing incidents caused by weather is part of managing financial risk at the...

In the 1982 movie ET,  children learn the Alien being likes a certain candy.  Then the children discovered they can get the Alien to follow a trail of the candy.  Producers of the movie first approached the company that makes M&Ms about using their candy. They turned them down. The next offer went to the company that makes Reece’s Pieces and a deal was struck. It was a home run deal for Reece’s Pieces as their sales soared with...

Research has shown that a person who resigns from your property management company is leaving for one of three possible reasons: a new career opportunity, an unsolicited job offer or for a grievance that has not been handled correctly.  Whenever a person resigns from your property management company for voluntary reasons it’s normally a surprise and it can be expensive to replace a valuable team member.  This article will outline three...

Multifamily assets are often referred to as A, B and C quality assets.  Apparently there is no failing grade in investment property when there is rental income.  Categorical definitions of quality are a good starting point.Buying multifamily requires knowing about the quality of the deal. Institutional standards within the multifamily asset class represent the normal first blush where people begin to form an opinion based on a single...

When making a presentation to a potential new client how can you guarantee  that your presentation will be the most interesting one they hear that day?  How can you assure that you will be the most interesting person in the room?  By being the best prepared.Our clients and potential clients want to know about the  benefits they will derive from hiring our company.  Sure, there will always be plenty of features (bells and whistles)...

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...

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