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Tue
14
Nov
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How To Measure The Effectiveness Of Your Compliance Training

online compliance training important for landlords, property managers and employees

The Grace Hill training tip this week focuses on the fifth in the series on compliance training. Compliance training is important for landlords and property managers to keep up with ever-changing rental housing laws at federal, state and local levels.

 By Ellen Clark

The great hope of training is that it results in behavior changes that improve employees’ job performance and ultimately positively impact your business.

The ability of an employee to successfully apply what was learned in training to his or her job is called transfer.

 To successfully transfer lessons learned in training to an employee’s activity on the job is the ultimate goal of training.

 In this series on measuring training effectiveness we’ve looked at:

Mon
13
Nov
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Landlords Missing Rent Payments Online After Company Bankruptcy

Landlords missing online rent payments after company bankruptcy

Dozens of landlords around the country are missing rent payments online and still trying to collect funds tied up in an online ecommerce dispute that had led to a Kentucky-based online company bankruptcy last month.

CC Operations LLC dba eCHECKit, filed a bankruptcy petition in October in Kentucky. eCHECKit is the payment processor for the 13-year-old Fort Collins, Colorado, company eRentPayment, which offers landlords and property managers the convenience of collecting rent payments online.

According to eRentPayment’s website, tenants pay rent on the company's secure website and it is processed in the automatic clearinghouse, or ACH, network and then deposited in the landlords' accounts.

It is still unclear how many landlords may have received some payments and how many are still missing rent payments online and seeking payments from reports.

Mon
13
Nov
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Rents Up An Average $30 From A Year Ago But Slowing

Rents in the latest yardi matrix monthly report

Seasonal factors and an extended deceleration in national rent levels combined to reduce U.S. rents by $4 in October, according to a survey of 121 markets by Yardi Matrix.

The drop to $1,358 reflects an expected slowdown in rent growth at the beginning of the last quarter and the multifamily sector’s ongoing deceleration from cycle highs in 2016.

“Overall, the drop on a national level is no surprise. It comes at the beginning of the fourth quarter, when rent growth tends to slow due to seasonal factors. Moreover, the multifamily segment is in the midst of an extended deceleration from the cycle highs of 2016. Nationally, rents are only $5 off their all-time peak set in August and are $30 above their level a year ago,” the Yardi Matrix report states.

Fri
10
Nov
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4 Reasons A Rental Property May Look Beat-Up

how to tell if a rental property looks beat up

Veteran investor John Wilhoit blogs this week about the four reasons a rental property may look beat-up and not be getting the attention it should from the owner.

By John Wilhoit

A rental property may look beat-up for several reasons as rental property assets can fall into disrepair in many ways and for many reasons. 

Often, just walking or driving by an asset will show signs of disrepair or a lack of care all without stepping on property!

Why do people allow potentially valuable assets left to fall back into the sand? There are a myriad of reasons, of course. 

 Following are the categories that most often result in assets looking like they have been beat with an ugly stick. The next time you see one it is probably due to one of the following factors.

No. 1 - Inattentive Ownership

 Owning real property assets is not the same as knowing how to manage real property assets.

Fri
10
Nov
The Editors's picture

High Credit Score Needed By Tenants In Class A Apartments

Higher credit score needed by tenants in class a apartment buildings

Landlords are demanding a higher credit score in many major cities for Class A apartment buildings, especially in the tight rental markets in Seattle and San Francisco, according to new research.

The research from RentCafe, a Yardi Matrix company, looked at the average credit score of rental applicants in the nation's most competitive markets.

While the metros have high credit score requirements, the average across the entire country is also up from a score of 638 in 2014 to 650 now in 2017 and getting more aggressive. . If you think these credit standards are a bit harsh, try to get into a high-end building. The average score of renters accepted in Class A buildings is 683.

Tue
07
Nov
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Seattle Councilwoman Wants Landlords To Pay Tenant Relocation Costs

Seattle councilwoman wants landlords to pay to relocate tenants

Sound familiar Portland?

Seattle seems to be following Portland’s lead with the latest proposal from a city councilwoman to have landlords pay three months of tenant relocation costs, including rent in a new housing location, according to reports.

Seattle City Councilmember Kshama Sawant plans to introduce a bill requiring landlords to pay to relocate tenants who can no longer afford rent. The proposal would force landlords who raise rent by more than 10 percent in a year to pay a tenant's rent for three months if they have to move out.

Tue
07
Nov
The Editors's picture

Want To Know If Your Training Is Working? – Ask Your Employees

rental housing compliance training

The Grace Hill training tip this week focuses on the third in the series on compliance training. Compliance training is important for landlords and property managers to keep up with ever-changing rental housing laws at federal, state and local levels.

By Ellen Clark

Bottom line: You want to know if your training program is working. Employee feedback is one of the best ways to know what is and is not working for them.

This is the fourth post in a series about how to measure the effectiveness of your compliance training program. If you missed the previous posts they are listed at the bottom.

 Building a good compliance training evaluation plan is all about accumulating evidence to help you answer the question:

Tue
07
Nov
The Editors's picture

4 Ways To Be Proactive In Rental Property Maintenance

4 ways to be proactive in rental property maintenance

Wish you had been more proactive in your rental property maintenance when you get that maintenance call or text from a tenant? The maintenance checkup this week provided by Keepe helps make sure you are your protecting your investment and income as well as your tenants.

Many property managers and landlords deal with maintenance in a reactive manner. They wait for tenants to report maintenance issues and/or waiting for the property to turn over before addressing maintenance issues.

This is natural because if you view rental properties as a pure investment, then maintenance is the cost center. It is a negative charge on investment income. The human tendency is to be proactive about positives and to be reactive about negatives.

Do you ever turnover a rental property and think, “I would have taken care of that if I knew it was broken?”

I’m sure it has happened to the best of us.

Tue
07
Nov
The Editors's picture

The Multifamily Investing Forecast For 2018

multifamily investing forecast for 2018

What is your multifamily investing forecast for 2018? I hear a lot that a correction is coming in multifamily Investing.

  • Is it really?
  • When?
  • Where, in what markets?
  • How long will it last?

By Vinney Chopra

These questions have been on the minds of a lot of multifamily Investing groups and multifamily syndicators.

The market has been strong for about eight or nine years. Usually the market cycle lasts about that long too.

I wanted to share my perspective on it. It is very hard to predit the future. Especially in the times of uncertainty with talk of possibly lowering of tax rates, and cutting out of social programs and small business tax breaks all in the name of economic growth.

So it is very hard to project the multifamily investing forecast for 2018 due to 5 current factors.

Tue
07
Nov
The Editors's picture

New Apartments Feature Innovation In Design In Washington, DC

Apartments feature innovative design and deck in Washington, DC

The newly constructed Apollo Apartments feature innovation and were designed to capture the feel of the early 20th Century Apollo Theatre movie house in the H street area, according to a release.

The Apollo is in one of the most dynamic and exciting neighborhoods in Washington, D.C.  It is built on the site of the legendary Apollo Theatre from 1913. The idea was to combine the building’s past with the present.

The original Apollo Theatre opened its doors in 1913. Designed by architect C. Clark Jones in the Renaissance Revival style, it hosted nearly 900 guests at capacity and drew crowds until 1955.

The photos here show some of the outstanding features of the apartments

Apartments feature rooftop deck

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