Does your company offer a sign-on bonus to new hires?
Hi All. One of our properties is going to have a handful of more college students (townhome units). Was wondering if anyone has an addendum with regard to noise/parties? Our lease is already very detailed but I'm just looking to see what others do. We are not all student housing, but we have a property closely located to a private college and out of 61 units, we have about 6-10 or so with students. Normally there have not been too many issues, but I... Show more
I think putting them in a welcome letter isn’t a bad idea, or even summarizing the “respect your neighbors” rules on a separate form and require all residents to sign it on move in. You basically want them all to acknowledge the rules and perhaps the consequences of breaking them. Otherwise they will sometimes think they can claim ignorance and get away with it the first time.
Random question ~~ when remodeling a kitchen with new counters and sink, would you remove a working disposal? I mean, take it out and not replace it.
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So if you are asking if we put disposals in…depends. Some properties yes of course. Some other would end up being more hassle than worth it and wouldn’t impact income.
In today's high interest rate environment, interest only platforms may be the only answer for refinance for the short term. We are seeing several clients walking away from million-dollar buildings because the old interest rate was 2-3 %. Now the interest rate is 8-9%. Clients just cannot sustain the imbalance. Things are going to become quite desperate for many companies this year.
While it’s almost become a meme to comment on how “backward” the multifamily housing industry is when it comes to technology, the reality is much more nuanced now than it was back in 1999 when I first started leading the work that eventually resulted in LRO, the industry’s first-ever automated rent setting application. I was blessed to work with perhaps the most technology-forward operator of the time. Archstone was the first major ...
Property management is a multifaceted industry and as many successful property managers know you will need efficiency to scale and manage the business effectively. Property managers are the day-to-day lay level operators who are faced with a perpetual roller coaster of strategies that aim to to reduce operational inefficiencies. The uncomfortable part of such objectives is frequently overlooked by most property managers; namely, partnering with a ...
Key release’s are supposed to be simple. Yardi has an opt in for text communication which he is listed as yes. A friend comes in and needs a key. Knows resident by name, unit and phone #. We called resident twice and emailed. They called him, told us when they went to walk their dog, he left and may have thought they had key. After about an hour of them calling they texted him. He texts them back and says we have permission to give key. I see... Show more
Even though you matched numbers and saw a text- you don’t have any of that documentation.
But look, if what he said was truly destroyed or taken- then he will actually follow up. When police get involved and they don’t follow through. Likely not true and he didn’t realize the depths you would go through to validate his story.
Is your property management company drowning in reactive maintenance? Are surprise repairs, breakdowns, and frustrated residents eating away at your resources, budget, and bottom line? The good news is, there's a smarter way to manage your maintenance. Artificial Intelligence (AI) is revolutionizing the way we approach maintenance, ushering in an era of proactive problem-solving and optimized operations.Embrace the Power of DataImagine having a c ...
We audited one of our student housing portfolios a few months back (about 12 properties), and identified ~$50,000-70,000 / year in bloated ad spend. If you are looking to do the same and potentially cut ad spend, read on…We started by implementing a CRM to track things like lead source, and lead stage in the pipeline. Powerful optimizations begin with good data. Once we'd collected a year's worth of data, we were able to do some actual analysis o ...
I have a client wanting to reduce fraud. (Isn’t everyone!)
I’ve used Checkpoint ID but had complaints with them manually verifying id’s (they did nothing) and the app not working when scanning id’s. Is there a good alternative?
Thinking of going with Snappt for POI verification. Are they the...
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This is very interesting article, in my opinion. I would imagine that most in this group would tackle things differently than Vienna, but the reality is that there are some very strong alignments, such as understanding that affordability is a supply-driven situation and that we need more development in many markets. For example:𝐴𝑛𝑜𝑡ℎ𝑒𝑟 𝑘𝑒𝑦 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑐𝑒 𝑖𝑠 𝑡ℎ𝑒 𝑤𝑎𝑦 𝑉𝑖𝑒𝑛𝑛𝑎 𝑐ℎ𝑜𝑜𝑠𝑒𝑠 𝑡𝑜 𝑠𝑝𝑒𝑛𝑑 𝑖𝑡𝑠 𝑎𝑛𝑛𝑢𝑎𝑙 ℎ𝑜𝑢𝑠𝑖𝑛𝑔 𝑏𝑢𝑑𝑔𝑒𝑡. 𝑀𝑜𝑠𝑡 𝑜𝑓 𝑖𝑡 𝑔𝑜𝑒𝑠 𝑖𝑛𝑡𝑜 𝑠𝑢𝑏𝑠𝑖𝑑𝑖𝑠𝑖𝑛𝑔... Show more
Could Vienna’s approach to affordable housing work in California? | Housing | The Guardian
Housing costs and homelessness are on the rise in California. In the Austrian capital, people of all income levels live in subsidised housing – and…
Do you know where your data comes from? Not all data is the same. How it's pulled can result in varying (and potentially unpredictable) outcomes–one of the more unpleasant being private data sharing. Using ethically sourced data ensures compliance and precision in your comp reporting and market surveys. Unlike private and semi-private data, market insights from ethical sources are clean, accurate, and unassociated with antitrust litigations. Own ...
What is the most important factor for you when deciding to attend an industry conference?
Security remains a paramount concern for management and ownership groups alike in this quarter's Multifamily Crime Poll. Let's delve into the key findings and uncover what they mean for property security strategies.Package Theft: On the RiseOne of the standout revelations from our latest poll is the prevalence of package theft. A significant portion of respondents—60.9% to be precise—reported that package theft either increased or surged signific ...
The multifamily space is undergoing a rapid evolution and transformation fueled by tech-based features and services that require seamless WiFi connectivity. From self-guided tours and digital payment solutions to smart-home technologies and remote work capabilities, a reliable internet connection is critical. However, delivering end-to-end connectivity involves more than simply setting up routers and access points. It demands a comprehensive appr ...
We have predominantly Spanish communities, and looking for recommendations on apps/ tools you all use to translate for prospects/residents for those of us who are not bilingual?
SayHi: SayHi is a translation app that allows users to speak or type in one language and have it translated into another. It supports Spanish and many other languages.
Babylon Translator: Babylon offers text and voice translation, as well as a dictionary and language learning features. It can be useful for quick translations in various contexts.
Papago: Papago is a translation app developed by Naver, which provides accurate translations between multiple languages, including Spanish. It also offers features like text recognition and conversation mode.
DeepL: DeepL is known for its high-quality translations and offers text translation between various languages, including Spanish. It's particularly useful for translating longer texts.
Hope that helps
We’ve found that most people that have made it this far are incredibly resourceful.
Being helpful is one thing but it can lead to a: no good deed goes unpunished, if you aren’t careful.
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Multifamily News
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- Resia Celebrates the Grand Opening of Resia Dallas West in Texas
- American Landmark Apartments Acquires Class ‘A’ Tampa Apartment Community
PROS: Filling empty positions is key to keeping communities running
CONS: Can reduce morale in current employees or even cause them to jump ship; some new hires will take the money and run; keeping those you enticed with a sign-on bonus longer than a year without an additional bonus may be difficult. (Source: SHRM)