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Mon
04
May
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Behind The Leasing Desk with Heather Blume... Ladders & Liars

Looking for a Ladder
Dear Heather,

I've been in my current job for about 6 years now and can't seem to move any further up in my company than the role of a property manager. I think I'm good at my work and my employees seem to like me, but when the opportunity to move up happens, my regional always seems to find someone "better qualified." I don't want to have to leave my current company, but I feel like I've earned a promotion and I'm getting a little burned out where I am now. What should I do?

-Looking for a Ladder

Dear Looking for a Ladder,

Mon
04
May
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Multifamily Apartment Marketing: Are You Missing Out On New Leases?

Many people believe that property management is an old-line business that moves slowly. If you believe that then your team is already half a mile behind in a one mile race. In other words; you are toast because the competition is using all the best practices at their disposal to make sure they close every new prospect that steps on their property.

If your on-site team is “under-trained” consider revising your procedures to get quality marketing in motion in real-time. In other words, implement best practices with the end goal in mind; closing more (lease) sales. Following are three areas to implement improvements.

Mon
04
May
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Student Loan Debt Affects Real Estate Investments in a Big Way

Sally did everything right. She was accepted into her first choice college and received a first rate education to pursue her dream career. She filled out the student loan applications like everyone told her to; after all, she couldn’t afford the $90,000 degree without it. When she graduated, she started out entry level in her chosen field, making near minimum wage which just covered her rent (with three roommates) and living expenses. She deferred payment on her student loans for 2 years but after watching the interest inflate her debt up to $170,000 she had to move back in with her parents to concentrate on paying it off before it got any worse.

Sun
03
May
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Coffee is more than just a drink when motivating your team!

Things I’ve learned about the power of coffee:

1. Having something hot at the beginning of the day stimulates brain cells faster
2. Supplying for your team is a show of appreciation
3. Make sure to have decaffeinated flavors too; not everyone likes to be “wired”
4. It makes time to just “stop” what you are doing even for a minute to make it
5. Never stop “cold turkey” and forget to order more supplies
6. Remember the holiday flavors to “spice things up” a bit
7. Offer hot and cold coffees throughout the year; more refreshing choices
8. Try and have “coffee breaks” at the same time to use that time to meet and plan
9. Don’t like coffee? Tea actually has more caffeine than coffee
10. Buy coffee mugs specifically for each team member that shows off their personality!

Fri
24
Apr
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How To Profit In Real Estate Without Flipping, Renting Or Beating Bubbles

Investment Banker Advocates For Lost Art Of The ‘Second Oldest Profession In The World’

Most people believe that making a profit in real estate means buying and selling at the right time, or renting their property and profiting over the long term, says investment banker Salvatore M. Buscemi.
Being handy with property renovations and having a great relationship with a bank can also prove essential.

But what if you’re better suited for a straightforward approach to short-term, high-interest financing for higher-than-normal returns – independent of the established banking norms? What if you want to build better relationships for safer investments?

Mon
06
Apr
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Tenant Screening – Between a Rock and a Hard Place

Landlords are truly caught between a rock and a hard place when it comes to tenant screening.

The Rock
A failure to adequately screen prospective residents can have a devastating impact on the bottom line – NOI & equity.

Further, there is a well-established duty to exercise care in screening prospective residents. A failure to do so has resulted in disaster – followed by substantial civil penalties.

The Hard Place
There has never been a more hostile legal and regulatory environment when it comes to tenant screening.

Mon
06
Apr
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Can You Afford To Lose $230,400 In Leasing Revenue?

Ouch! $230,400 in annualized leasing revenue is being lost by apartment communities around the nation! This is happening because 20 percent of the calls coming from future residents are being missed, which is silently draining the performance of the properties you own/manage. Using the call tracking system of an industry vendor as a resource, this article will summarize our research from 863 apartment communities in 33 states and the statistics below on missed calls are startling! Plus, we have provided a tool for you to calculate the lost leasing revenue for your specific properties and to share the results with your leasing teams.

Sat
04
Apr
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What does your workplace culture say about your organization?

Have you ever walked into the offices of a particular company and felt a “vibe”. It’s usually a feeling of energy and often difficult to explain but nonetheless very present and very real. Positive, neutral or negative, this work place “atmosphere” is determined by, and reflective of, a company’s culture.

Workplaces are typically comprised of many different personality types with various backgrounds and diverse views. Although this makes for interesting interaction and learning, it can also bring conflict and struggle. The backdrop of culture can significantly impact the environmental conditions – and determine direction toward positive or negative daily performance and overall results. Defining and maintaining a company culture takes effort, coordination and planned direction.

Wed
04
Mar
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Vendor Spotlight: NoAppFee.com - Portland Housing Counselor Creates ‘Matching Service’ for Renters and Landlords

Tyrone Poole stood in line, waiting for admittance to a Portland, Oregon homeless shelter. He looked around and wondered, “What in the world am I doing here?”

How he got there was a series of odd events. How he got out, and rebuilt his career, is a great American success story.

From Constructing to Firefighting

From his earliest days, Tyrone says, he was an energetic worker. His mom – an artist who created blueprints for a large building firm – helped him get a good construction job right out of high school.

“Soon I was making $17 an hour, much more than some of my friends who made minimum wage,” Tyrone says. “My next step was to train to be a mechanic, who made $20 an hour." 

“One of my friends had a relative who worked as a firefighter, and really loved it. He encouraged me to take the entrance tests. I got admitted to the fire academy. But, something terrible happened during my training.”

Sun
22
Feb
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Commercial Markets Poised for Growth Despite Weaker Global Economy

A stronger labor market and stable U.S. economy should keep commercial real estate demand on the rise, but the pace of growth will likely be hindered by overseas weakness, according to the National Association of Realtors® quarterly commercial real estate forecast.

Lawrence Yun is chief economist and senior vice president of research at the National Association of Realtors(r). Yun oversees and is responsible for...
National office vacancy rates are forecast to slightly decrease 0.1 percent over the coming year as improved hiring increases the demand for office space. The vacancy rate for industrial space is expected to decline 0.4 percent and retail space 0.3 percent as manufacturers boost production for goods and services and consumers slightly accelerate their spending. A swath of new apartment construction coming onto the market is forecast to lead to an uptick (0.1 percent) in the multifamily vacancy rate.

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