With year-over-year inflation rates reaching an average of 2.5% that means raising rent is inevitable for most landlords and property managers. However, it can be hard and you may feel guilty to pass the financial burden along to your tenants. Even more if they’re long-term, have a good track record, or are your friends and family. Here are four ways to increase rent without feeling guilty.
Property Management Tips
In anticipation of the National Apartment Association’s (NAA) Apartmentalize Conference in San Diego, California, we’re giving away a kate spade handbag to one lucky CIC blog subscriber. But you better hurry! Our online giveaway will be ending on June 8th, 2018.
If you’ve ever seen the show Parks and Recreation, you’re probably familiar with the concept of Treat Yo’ Self. Life can get overly busy with trying to find a balance between a work and personal life, and at times we can forgot to take a little time for ourselves. It is never a bad idea to take a day to treat yourself, and what better opportunity than National Wine Day? Celebrated annually on May 25th, this is a great day to set a little time aside and treat yourself to a night of wine and relaxation.
Fake reviews are becoming a growing problem within the multifamily housing industry. Online, it’s terribly easy to leave a fake positive or negative review, and extremely difficult to get any reviews erased. Whether the apartment review is from a lying, former tenant or a professional fake reviewer, here’s why you should be responding to them all.
We’re excited to announce that CIC will be exhibiting at the National Apartment Association’s (NAA) Apartmentalize Conference in San Diego, California on June 14th and 15th! Alongside showcasing our newly released property management software, CICTotal Manager, we’ll be raffling away two kate spade handbags during the conference and hosting a caricature artist at booth #2831 on the second day of the expo, June 15th.
As a property manager, it’s not surprising that you deal with a lot of personal information. With a plethora of resident and applicant information in your possession, you can never be too careful with other people’s sensitive information. You require applicants to provide you with this personal data so that you can judge their candidacy for renting your property, but, in doing so you have to protect that information in return. While that might sound like an easy task in theory, there are always little details that can be overlooked and potentially risk access to the data applicants have trusted you with.
So how can you protect the sensitive information you’re charged with safekeeping for applicants and residents? While there is no foolproof way to safeguard data, there are measures you can take to defend the information in your possession.
Within the growing $77 billion dollar property management industry, automation is becoming the norm. From text message rent notifications in downtown high-rises to auto-generated lease forms in small suburbs, rental properties across the U.S. are opting out of traditional management practices and migrating to automated, online management.
In this day and age, nothing and no one is safe from the scrutiny of the internet. A person doesn’t have to search far to find a place to share their opinion on something, and it only takes a few seconds for them to share that opinion with anyone who cares to read it. But the internet isn’t just a place for someone to complain about a bad experience they had at their local retail store, and many consult these reviews before making decisions about where to shop, where to eat, or even where to live.
As a property manager, you’re understandably a pretty busy person. With so many units to manage, it’s not far fetched to say that you want to automate everything you possibly can to lighten your load. The right set of property management tools can be a godsend and help to simplify daily tasks that are essential to running your community.
As a property manager you work hard to look after your community and make it the best that it can be, so it would make sense for you to want applicants to like it as well. Many question what attracts residents to a property, and what one may lack in times of vacancy. With so many competitors out there, it makes you wonder what it is that pulls a potential renter to one property over another. Maybe it’s the types of incentives you offer that residents are looking for?