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
Thu
11
Feb
admin's picture

How to Improve Your Rental Property

How to improve your rental home this season

This Season Since winter is already here, there are a few chances you can still work on improving your rental home and making it better this season regardless. You will have to work on making some preparations so look for the following examples of things you can make use of to make it work. There are many ways you can lower your energy consumption and still make everything look and be practical. The following examples will give you more information on the subject so you can make it work:

• Sealing your walls

Mon
08
Feb
admin's picture

The Most Important Thing in Tenant Relations

property manager tenant relations

No one ever said that property management was easy. At least no one did who knew what they were talking about. No matter how well you manage, there will always be tenants who are beside themselves in rage at you with some grievance—real or perceived.

When dealing with an angry tenant, the natural reaction is to dig in your heels and defend your position. “You didn’t pay your rent,” or “you caused those damages” or whatever.

This is, however, the wrong approach.

The correct approach (and the one that will help you maintain your sanity) is to align yourself with the tenant as much as possible. Be on their team, so to speak.

Wed
03
Feb
admin's picture

Tips for Investors Who Want a Balanced Portfolio

multifamily real estate investment portfolio

Good balance keeps you from falling over. In all areas of of my life, I strive for that healthy balance – of work and play, family and business.  This should carry over to your financial health as well.

Why do I feel that a balanced portfolio should contain multifamily real estate?

Now more than ever, some measure of protection against the natural volatility of the stock market is becoming more and more attractive even to more traditional investors. I am no hater of Wall St. – diversification is always the smart play.  This alternative investment strategy provides the tax benefits of real estate coupled with the dramatic growth within the multifamily market overall.

In this series of articles, we’ll examine the state of the market in general, discuss the benefits of owning multifamily real estate and focus on the drivers behind the performance of the market.  Let’s examine what is driving the apartment market:

Market Fundamentals

Tue
02
Feb
Will Johnson's picture

How to Make Portland Rents Affordable Again: Build, Baby, Build.

housing supply and demand portland

Portland has been my hometown since I was nine years old.  When my father’s career brought us to town, Portland was a sleepy mid-sized city that, outside of a tech industry and sneaker colossus that were both in their infancy, seemed to be a decade behind the larger cities on the West Coast in most ways.

Tue
02
Feb
admin's picture

Top Tips for Moving in the Cold

apartment moving

It’s winter in North America, and while some areas are feeling it more than others, the cold weather and chilly conditions definitely have an impact. Below are top tips for moving in the cold:

Roll out the carpet

Start the day by salting concrete and shoveling a path through the snow. Use old carpet outside of the house and on truck ramps to create a slip-free pathway.

Protect your floors

Secure non-slip covers on your floors to help protect them - cardboard or plastic with grip work well.

Pack securely

When packing your goods, make sure they are secured and put in boxes that will easily hold their weight. Never over-pack a box!

Watch the clock

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
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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.

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