Tenant turnover is expensive. There is the opportunity cost of a vacant unit, costs to find a new tenant, and preparation of the unit for the new tenant. Therefore, you’ll want to do everything in your power to increase lease renewals. Fortunately, there are several ways to increase lease renewals that are both easy for
Lenders and credit granters use your credit score to figure out how likely you are to pay them back. Lower credit scores mean a higher risk of not being paid on-time, which means higher rates or security deposits for you. Higher credit scores provide added confidence that you will responsibly pay your rent or bills
Are you looking for a career in property management? Or perhaps you already are a property manager in search of ways to get better at your trade; in that case, it is about time you step up your game. If you aren’t a property manager yet, relax! There are no hard and fast rules or
As a property manager, you know the importance of positive public relations and fostering a community spirit in your units. Mid-to-large apartment communities can feel so impersonal – if you can create a sense of family within the rental, you may retain more renters year after year. Around the holidays, there are few better ways
While it may be the most wonderful time of the year, let’s not kid ourselves. The holiday season is the busiest and most stressful time for just about all of us. And for some, it can get really expensive, fast. Despite all of the hustle and bustle, though, gifts for renters do provide the perfect
Much like the first season of Ryan Murphy and Brad Falchuk’s American Horror Story, the world of property management can be fun to watch, but also entirely unpredictable! Renting out an apartment at times can feel impossible, with unsure applicants, shaky market trends and so much more. But there are professional tricks of the trade
When property owners need help taking care of the everyday responsibilities at their rental property, they usually hire a property manager. The things that separate good property managers from bad property managers include several factors such as attention to detail, updated knowledge of marketing techniques, and good communication skills. Communication skills play a crucial role
From managing properties to ensuring the satisfaction of the residents, property managers strive a lot to attain a prominent position in the rental housing industry. Generally, property managers act as brand-ambassadors for most rental communities. For that reason, developing leadership qualities can help property managers get far in the multifamily industry. Considering that, here are
Pet ownership is on the rise in the United States, with 70% of the renters having dogs. Moreover, the recent stats show over 84 million pets taking up residence in the U.S. As dog ownership grows, the need for pet waste management also increases within apartment communities. Damages of Not Managing Pet Waste From stains
It often takes time to achieve success in property management. A property manager needs years of experience tempered by attention to detail, discipline, and an unwavering commitment to handling responsibility and pressure. A good property manager is usually a skilled juggler of various tasks, keeping both tenants and property owners happy. In addition to screening
