Expert Blogs

I have a friend that is an investment advisor. He rails often against the extended amount of time, energy and effort placed before us via the media as to whether or not the quarterly Gross Domestic Product (GDP) of the United states will come in at a 1.9% annual rate versus 2.1%. His patent response is “few real people are making investment decisions based on that differential”. Gross Domestic Product is... the total market value of all final...

Every lost a master key?  Every had that floor-dropping-from-under-you feeling while sitting in a chair on the phone? Master keys are necessary, they are also, truly, the keys to the kingdom of any property.  Losing a single master key costs time and money.  Immediate action is required.  The exposure can be tremendous.  First and foremost, anyone in possession of a master key must  be made fully aware of its...

In multifamily operations rent growth is the most  important component to capturing Net Operating Income (NOI) growth.  Projecting rent growth is part science, part qualitative.  There are many service providers willing to assist property managers in keeping up to date on where rents are within a circle of competitors. First and foremost is keeping current tenants in-place with advanced planning.  Renewals, renewals, renewals. ...

Residents want to live in a green apartment community. In fact, according to a 2010 Rent.com study, 86% of resident’s value living in a community with eco-friendly amenities and more than half are willing to pay more in order to do so. Seven out of ten renters are also more likely to renew their lease and nearly two-thirds would recommend their green community to a friend. There is growing evidence that renters consider eco-friendly amenities when making...

If you are the general contractor building a new apartment community, is your carpenter more important than the electrician?  Does the plumber play a larger role than the roofer?  As the manager of the overall project, you know that building standards, the permitting process and attention to details lay the foundation for building a beautiful apartment community.  Drawing on this analogy, the foundation for the success of your property...

Everyone talks about water efficiency and rebates, but not many property managers realize the huge savings and environmental benefits associated. Apartment owners and property managers can easily cash in on cutting water usage while helping their community become more environmentally friendly. If you’re hesitant about the upfront cost of retrofitting, you should be aware that many properties can receive financial assistance to implement...

Over the last 17 years I have helped a number of my property management clients sell their companies.  In addition, other clients often ask me about the tips and techniques for maximizing the future sale of their property management company.   Please know, the sale of your company takes planning and a comprehensive approach over 12 to 24 months.  If you are thinking about selling your property management company today or in the future,...

In the history of mankind housing has evolved to include structures of every conceivable shape. We have lived under trees,  in caves, built hovels and established movable, nomadic cities in deserts and on prairie lands.  But wait, there's  more! Our home building skills have evolved to the point that certain countries have a surplus of houses; talk about nailing the technology. Question?  What century are we discussing?  Was...

Beginning October 1, 2014, all multifamily communities in Maryland with 10 or more units will be required to recycle. Governor Martin O’Malley recently signed Senate Bill 208 into law. This law is similar to California’s multifamily recycling law, AB-341-Chesbro, where communities with five or more units must offer paper, plastic, can, and bottle recycling to residents starting July 1st. Going forward, Maryland counties will need to address...

Since most properties are without a full time "pool police" good behavior is based substantially on the honor system. This  honor systems assumes (assume being one of my least favorite words) people  will be  guided by society's rules  of decency.  Are we fooling ourselves here?  Decency, after all, is subjective. Fore example; everyone likes a good looking swimsuit. We like them even more when displayed by...

Predator lenders will prey on anyone. Why rip off five or ten consumers when one fake commercial loan can yield the same output (for the predator). The singular best method for avoiding predatory lenders is to talk to lenders; lots of lenders.  The mortgage banking business is filled with hard working and sincere professionals.  The profession also has its fair share of sharks..  The only way to tell the difference is to network. Scam artist...

If you were a farmer, would the spring season be more important than fall?  For your crops to grow strong, will the sunshine or the rain make them grow faster?  Does it matter if some crops are ready to be harvested in one month and other crops are ready in six months?  Like a farmer, realize that each person on your property management team will grow and thrive best if you match the pace and structure of their work responsibilities with their...