Management & Maintenance

This department of Rental Housing Journal is your source for property management and maintenance information. Whether you're an independent landlord, portfolio manager, on-site community manager, leasing agent or apartment maintenance professional, the site is dedicated to bringing tips, best practices and information to help make your job easier and keep you up to date and educated.

property management apartment maintenance
Wed
15
Jun
admin's picture

Basics of Student Housing

Basics of Student Housing

Student housing can be one of the most profitable niches of buy and hold real estate around. But of course, that’s only if you know what you’re doing. 

Student housing comes with two major advantages that should attract investors:

Advantage 1

Higher Rents: Students will generally pay a premium since they rent by the bedroom rather than by the house, as a family would.

Advantage 2

Almost Guaranteed Rents: By requiring a cosigner from each student’s parents, it’s highly unlikely that you will lose out on any rents or damages.

Unfortunately, like with all good things, there are also disadvantages:

Disadvantage 1

Annual Turnover: Unlike with other rentals, most students will leave every year requiring you to release the unit annually.

Disadvantage 2

Fri
10
Jun
admin's picture

Dupre + Scott Video Report: Even A Troll's Toll Won't Slow the Flow

Even A Troll's Toll Won't Slow the Flow

The Puget Sound region keeps adding jobs and people keep moving here. How many? Here's quick look at migration trends into the region through the end of May based on driver license data from the state.

Tue
07
Jun
The Editors's picture

How To Keep Up With Apps and Your Mobile First Residents

how to keep up with apps and your mobile first apartment residents

Apartment managers and landlords need to stay on top of the latests apps to keep up with residents who are mobile first and spend plenty of time on their smart phones.

If your apartment residents and tenants live on their mobile apps, is your property management keeping up with their mobile first needs?

Research shows 64% of American adults now own a smartphone of some kind, up from 35% in the spring of 2011. Smartphone ownership is especially high among younger Americans, as well as those with relatively high income and education levels, according to Pew Research Center.

And for a number of Americans, smartphones serve as an essential connection to the broader world of online information.

A tech startup company can put your property on their smart phones with customized branded apps you and your residents will both find useful.

Fri
20
May
EllenCalmas's picture

Second Chance Renters: Targeting Tenants With Less Than Perfect Rental History

Second chance renters and why they are important to our buisness

Targeting Second Chance Renters

By Ellen S. Calmas

How to make second chance renters work by Ellen S. Calmas

Ellen S. Calmas

What are “second chance” renters and why are they important to our business? After all, why would a professionally managed property company want to attract renters who they know have a ding somewhere in their credit or rental history?

Tue
17
May
Matt Easton's picture

3 Ways To Get Promoted in Property Management

3 ways to get promoted to management in multifamily housing

What is the secret to property management promotion to regional manager, vice president or CEO?

By Matt Easton

As Executive Vice President at MultiFamily Traffic, I have worked with thousands of property managers, regional managers, marketing managers, CEO’s etc. I have seen them come and I have seen them go. Recently my friends at Rental Housing Journal asked me what the number one trend is in our industry is. My answer is this, management companies are desperate for rock-star talent and when they find it they will promote that person as high as they possibly can.

Mon
16
May
The Editors's picture

Average Rents Break $1,000 in Pierce-Kitsap-Thurston 

Average Rents Break $1,000 in Pierce-Kitsap-Thurston 

Average Rents Break $1,000 in Pierce-Kitsap-Thurston 

Seattle  -  Apartment Insights 1st quarter results show average rents climbed $19 to $1,014 per month and $1.15 per square foot according to Tom Cain, the firm’s principal. 

The data are from his Seattle firm’s statistics and trends on 50+ unit properties in Pierce, Kitsap and Thurston counties. 

Vacancy:  3.97%     

The market vacancy for our nonrandom survey of conventional, stabilized 50+ unit properties in all three counties is 3.97%, slightly better than fourth quarter’s 4.02%. The vacancy rate was 4.37% a year ago. 

The rate for all properties including those in lease-up is 4.49%, up from 4.40% last quarter.

Pierce:  4.14%   

The vacancy rate in Pierce County dropped from 4.22% to 4.14% this quarter. It was 4.51% a year ago.  

Mon
16
May
The Editors's picture

Charm Residents with Outdoor Living Spaces

Charm Residents with Outdoor Living Spaces

Charm Residents with Outdoor Living Spaces

By Scott Matthews, Director, Strategic Accounts, The Home Depot

Turing outdoor spaces into comfortable, functional extensions of interior living areas is in demand for multifamily communities. Residents are interested in spending more time outside. Creating an inviting outdoor space for your property will help attract prospective residents and retain current tenants, especially during the warm months and moving season. 

Here are some ideas for outdoor upgrades that will give residents a place to engage with other tenants, family and friends and help you stand out against the competition.

Mon
16
May
The Editors's picture

The Increasing Cost Of Owning Properties With Onsite Staff

Cost of Onsite Staff

The Increasing Cost Of Owning Properties With Onsite Staff

By Cliff Hockley, President, Bluestone & Hockley Real Estate Services

Even though the sales of apartments are reaching very low CAP rates with expectations of high returns, a number of laws aiming to protect workers have increased the cost of managing apartments. 

In Oregon, these laws include state mandated minimum wage increases and sick leave. On the federal level, required health insurance (for full time employees) and potential changes in federal overtime rules keep increasing the costs to staff with onsite management, maintenance and operations.

Sick leave

Mon
16
May
The Editors's picture

Dear Maintenance Men - Water Heaters

Dear Maintenance Men, Rental Housing Journal

Dear Maintenance Men

Water Heaters

Dear Maintenance Men:

I have a hundred gallon water-heater serving seven units.  The residents are complaining about a lack of hot water and sand coming out of the faucets and shower heads. The heater seems to be working normally.  What would cause sand to come out of the lines? 

Johan 

Dear Johan:

Your water-heater probably needs the calcium build-up removed from inside the tank. If your 100-gallon water heater is a commercial unit, you should find a clean out port at the bottom of the tank. Determine the tank manufacturer and purchase a new gasket for this port. Most plumbing supply outlets will have these in stock.   

Turn off the gas supply.  

Turn off the water supply to the tank.

Drain the water heater completely.

Fri
13
May
admin's picture

Preventive Renting – A Checklist

Preventive Renting – A Checklist

Preventive Renting – A Checklist

The following is not an all-inclusive checklist when renting your home or apartment, but is intended to provide some of the more important factors to consider.  We all get or should get regular doctor examinations, financial planning for our future, etc.  Just the same, there are certain things to consider when renting to a tenant.

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