A Healthy Bottom Line Requires Happy Renters
by Kendall Pretzer
Regardless of what type of commercial real estate you manage, improvements to resident or tenant satisfaction are central to a healthy bottom line. There is quantifiable evidence of a direct correlation between the contentment of renters and renewal rates, and higher gross and effective rents. The changes to commercial office space have convinced tenants to examine not just the quantity of space they lease, but the quality of it as well.
9 Alarming Signs of an Electrical Problem in Your Property
by Jeson Pitt
At times, property managers and maintenance teams take the misguided approach of waiting for a failure to check on electrical problems. There are several signs that a problem is on the way, requiring intervention from an electrician or replacement parts before the issue grows.
Proactive Leasing When Your Community is 100% Occupied
by Lindsey Smith
A 100% occupancy rate is an amazing feat for any leasing team, but hitting that achievement doesn’t mean it’s time to relax. The focus needs to shift to keeping your building filled, including automated cross-selling, keeping prospects in reserve and creating a desirable place to live.
What Multifamily Can Learn About the Customer Experience
by Morgan Dzak
Sports, entertainment, travel and hospitality are examples of industries that have moved light years ahead of multifamily when it comes to an exceptional customer experience, setting the bar for effective digital interaction. Multifamily operators must rise to meet the needs of customers and offer better interaction.
Don’t Trust, Verify: Optimizing Income Verification Processes
by Paul Willis
Income fraud is an ongoing challenge for the multifamily industry, and fraudsters are the residents most likely to default on a rental agreement. Advanced income verification methods are helping owner/operators make things more difficult for bad actors.
Read the article in UNITS
The Ins and Outs of Centralized Leasing
by Jordana Rothberg
Centralized leasing can offer a plethora of benefits to those who have made the move, but implementation can sometimes present challenges. With each company having unique needs, the key is to find the right solution for your organization.
Read the article in Multi-Housing News
Owners Ask Supreme Court to Rule on Rent Stabilization
by Miriam Hall
Owner/operators in New York have asked the Supreme Court to rule on the constitutionality of the rent reform law the state introduced in 2019. In their appeal, operators are asking the justices to secure a “fundamental limitation against the undue burden on select property owners.” The law, which guarantees lease renewals and regulates taking back a stabilized unit, goes too far, opponents say.
Apartment Expense Are in Check, But Watch This Metric
by Erika Morphy
While owner/operators have brought most expenses under control, the choice of renters to remain in their apartments for longer brings on delayed maintenance issues. This could lead to double-digit increases for that expense when they finally turn the unit over.
Read the article in GlobeSt
Another Industry Win Against Rent Control
by Ben Harrold
On May 1, Montana became the 33rd state to put the brakes on any attempt at rent control measures. The state’s governor, Greg Gianforte, signed a bill that prevents any local governments from enacting measures to set rent on private residential or commercial properties.
Read the article in NAA Industry Advocate