RHJ Blog

The Rental Housing Journal blog features thought provoking information and opinions on the multifamily property management and real estate investing industries. RHJ staff editorial, multifamily executives, top real estate investors, and real world industry subject matter experts share best practices, trends and news about investing in real estate, managing apartments, being a Do-It-Yourself landlord, multifamily technology, apartment marketing, Fair Housing and landlord - tenant law, flipping houses, advancing your career in property management, how to market and sell to property managers and real estate investors, new products and services for property managers, financing investment properties, where to find good tenants, how to hire great property management employees, how to choose vendors, best practices in property maintenance and much more.

real estate investing property management blog
Mon
01
Feb
admin's picture

Hiring Outside of the Property Management Industry

property management careers

I see it every day in my profession. The community I visited two weeks ago has lost their leasing consultant to another community in the same region. Typically, it is a lateral move, more money, but little to no advancement in the position. It is the same story with maintenance as well! If you are a seasoned HVAC certified technician you can basically walk into any community you want and 9 times out of 10 they will hire you for more money than your current position.

Here is my concern, when does it stop? When does the constant property management career shuffle begin to detrimentally effect our industry as a whole?

A few things that I see that are major drawbacks to this practice:

Mon
01
Feb
EllenCalmas's picture

Building Resident Compliance into Community Evaluation Metrics

renters insurance

Just because it’s mandatory doesn’t mean your residents will maintain it. That’s the lead in a recent article about the challenges of maintaining resident compliance with renters insurance. Suggestions for keeping residents on track range from making it easy to enroll at lease signing with something as simple as a $20 concession, to linking leasing commissions to staff monitoring of resident premium payments to maintain insurance coverage throughout the tenure of a lease.

Given the potential cost to the community (and residents) of lapsed renters insurance, it makes sense to dedicate staff resources to make sure coverage remains intact.

Thu
28
Jan
admin's picture

Hot Real Estate and Multifamily Markets For 2016

hot mutlifamily housing markets 2016

Zillow recently issued a report on the Hottest Housing Markets for 2016.  The determining factors for Zillow’s heat index are home value appreciation, low unemployment rates, and strong income growth. 

"Trendy tech centers like San Francisco, Seattle and Denver hogged the spotlight in 2015. But this year, the markets that shine brightest will be those that manage to strike a good balance between strong income growth, low unemployment and solid home value appreciation," said Zillow Chief Economist Dr. Svenja Gudell. "As the job market continues to hum and opportunity becomes more widespread, the best housing markets are no longer limited to the coasts or one-industry tech towns. This year's hottest markets have something for everyone, whether they're looking for somewhere to raise a family or start their career."

Fri
22
Jan
admin's picture

Tips for Moving into Smaller Spaces

Apartment moving

For many, moving into a smaller space offers many perks, including easy maintenance and less cleaning.

Smaller spaces however can make for a tight move, so it’s important to know how to transport your furniture damage-free. Here are tips to help you move into a small space:

Measure
Find out the dimensions and size of each room and its desired furniture pieces. Make a floor plan and map out where everything will go.

Go BIG
Move all large furniture first. These pieces will be the hardest to maneuver and you will want to have as much space as possible.

Disassemble
Unscrew and remove all furniture legs. This saves you space and makes for much easier maneuvering. It will also reduce your chances of breaking your pieces or damaging your walls.

Pare down
Go through your furniture and belongings and decide what you want to keep and what you want to donate. Eliminate duplicates and all items you no longer use.

Thu
21
Jan
Will Johnson's picture

Network and Advance Your Multifamily Property Management Career

Network and Advance Your Multifamily Property Management Career

In addition to my duties as Publisher for the Rental Housing Journal family of publications and raising a family, I also do selective contract recruiting for executive, sales and media positions. Last week those worlds collided.

I was participating in an annual strategic planning event for my local multifamily housing association. At the same time, I had 3 candidates in final interviews with an out of town corporate VP for a senior media sales position. In planning, we were engaged in the sort of thought provoking team activities that are common in such events, but I had an eye on my phone waiting for texts from the people I was representing with feedback from the interviews.

Wed
20
Jan
EllenCalmas's picture

Online Payments for Generation X, Y, and Z

online rent payments

For today’s alphabet of renters, instant gratification isn’t fast enough and expectations run deep for services that make paying rent convenient, affordable and automatic.

Traditional online payment options like bank ACH and credit cards have one essential element in common: reliance on the renter to be responsible in managing their money so that rent can be booked on time. That means there will be sufficient funds in a resident’s bank account when their rental community schedules an automated ACH pull and that credit card charges won’t be declined. Eighty percent of the time things work as intended and everyone is happy. The other 20 percent of the time, however, things go south and rental communities are stuck chasing rent and late fees, and/or fees for insufficient funds. The result is a bad situation all around that can lead to disgruntled residents, frustrated staff, and costly unexpected move-outs.

Fri
15
Jan
admin's picture

Investment Property Insurance

investment property insurance

As someone who makes their living providing insurance to investors, I get the same question repeatedly: “How can I reduce my insurance cost?” The answer: find the best fit.

Insurance is like any other professional service – there are four variables that need to be satisfied: 1) Relationship; 2) Service; 3) Coverage or Quality; and finally 4) Cost. Every consumer has a different set of criteria for what level of relationship, service and coverage is needed. Truly, some of my clients find it unthinkable to have a building without Earthquake insurance while others find the premium of Earthquake coverage to be unbearable. Everyone is different.

Wed
13
Jan
admin's picture

Rental Housing Journal Utah January 2016

Rental Housing Journal is the business journal for the Utah rental housing and multi-family property management industry.

 
Tue
12
Jan
admin's picture

Rental Housing Journal On-Site January 2016

Rental Housing Journal is the business journal for the Seattle rental housing and multi-family property management industry.

 
Tue
12
Jan
admin's picture

Rental Housing Journal Arizona January 2016

Rental Housing Journal is the business journal for the Arizona rental housing and multi-family property management industry.

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