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Sun
22
Feb
admin's picture

Seeking customer loyalty? Build good business relationships.

Seeking customer loyalty? Build good business relationships.

Property management professionals operate within an industry based upon the delivery of sound and consistent customer service. We believe that when most effective, good customer service results in profitability and client retention. As such, we are constantly striving to deliver top-level customer service through our systems and practices. Ultimately we trust that this will lead to customer satisfaction. But is customer satisfaction enough to propagate long-term business growth and sustainability? Recent studies indicate that satisfaction alone will not lead to the ultimate goal: customer loyalty.

Sun
22
Feb
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ASK THE SECRET SHOPPER: FLOATERS

Many apartment communities have staff changes on the weekends. Some property management companies use part-time leasing consultants or “floaters” to fill in on the weekends or to work back and forth between two or more communities. This can be a great partnership and help keep payroll expenses down OR it can cost rentals at your community. It all depends on quality communication, as
the following question will attest:

Q: I was hired to be a “floater” at several different properties. While I love the variety, I really don’t feel like I am an important part of the staff at any of the places where I work. I am not always
kept current on apartment availability or the status of different problems that come up. When I ask questions to try to keep myself informed, many times I am told: “Don’t worry about it. You’re only here on the weekends.” I feel frustrated, but don’t know what I can do.

Tue
17
Feb
admin's picture

21 Low Cost Renewal Concessions

What is your customer acquisition costs? What does it costs the property to obtain a new lease? There is advertising, overhead and staff time- all part of the expense for obtaining a new resident. Then there is the customer retention costs.

This article is about retention costs and the use of concessions. I am not suggesting auto-offering concessions as a standard business practice. They are just another tool in our tool box for use when appropriate. Before getting to concessions an assessment of “why” is appropriate. Why is there vacancy of X? Is your advertising and web presence in order? What is your showing-to-lease ratio? Is staff trained and up to date on tactics?

Concessions for a multifamily assets are not a given. Concessions are often a function of competitive factors from competitive properties in the same submarket as the subject asset.

Tue
17
Feb
admin's picture

National Survey Reveals 2015 Moving Plans For Renters

Affordability, Relationship Changes and More Space Top Reasons Why Renters are Moving;

Despite Increasing Rents and Apartment Demand, Three Quarters of Renters Said They are Not Spending More on Rent

Tue
17
Feb
admin's picture

Dupre & Scott Video Report: NEGOTIATING? THINK “LET IT BLEED”

According to the two finest philosophers of the past 100 years, when you are negotiating to buy an apartment building you have to decide on one of two strategies. The philosophers, Jagger & Richards in their 1968 treatise, “Let it Bleed”, identified the “Get what you want strategy” and suggested an alternate “Get what you need strategy.” Let’s start with the “get what you want” strategy.

Tue
10
Feb
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New Residential Water Heater Efficiency Standards Coming April 2015

On April 16, 2015, all residential water heaters manufactured for sale in the United States will be required to meet new efficiency standards as the third phase of a nationwide energy conservation effort takes effect.

Mon
02
Feb
admin's picture

3 New High Visibility Opportunities with Rental Housing Journal

Let RHJ be the Foundation of your rental housing marketing plan. Advertise on our cover!

Rental Housing Journal is now offering ONE highly visible advertising option on the cover of our monthly editions. Whether you have a short-term promotion, a desire to build your brand or want to direct our readers to a promotion or editorial piece inside of the publication, our Foundation Ad ensures that many thousands of apartment and real estate investors and property managers will see your message BEFORE they open the publication. This full color space is approximately 15 sq inches, and is located toward the bottom of our cover.

Pricing for On-Site (Seattle), Metro (Portland) and Arizona.

1x - $1500 3x- $4000 6x- $7000 12x- $12,500

Pricing for Colorado and Valley (Eugene, Salem, Corvallis).

1x - $1100 3x- $3000 6x- $5500 12x- $9,500

Fri
23
Jan
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Vacation Rentals – Make It simple for Your Guests

Friends of mine recently became a reluctant landlord. While they have another single family rental, a townhome purchased as a place for a family member to rent became a rental on the open market. They decided to rent the unit as a short-term vacation rental. Having started my own real estate investment portfolio over 30 years ago with a vacation rental, they were picking my brain about that type of property.

Thu
22
Jan
Will Johnson's picture

5 Basic Fundamentals For Property Managers and Landlords

5 Basic Fundamentals For Property Managers and Landlords.

Interacting with the people who make our industry go is one of the most rewarding and interesting aspects of my job as Publisher of Rental Housing Journal.  From the top executives at large management companies and apartment association leadership, to on-sites and leasing agents, to independent rental owners and industry suppliers, I’ve gleaned a lot of wonderful and sage advice about how to best run a business in the rental housing industry.  Because of my position as publisher at RHJ, I am given the opportunity to pass much of this information along to others.

Wed
21
Jan
admin's picture

Good Client Relationships Focus on the Basics!

On a global level, today’s service industries fiercely compete for business around the clock. Property management is no exception. To attract new business a company must sell and demonstrate what they have to offer. This is ultimately exemplified by the business already in place. Clients demand superior levels of service and want to be assured they are receiving the best value for their management dollar. Establishing sound practices is a great start but the essential component is maintaining consistent delivery of superior service.

The path to good client relations is successfully navigated with hard-work and steady commitment. Here are a few essential tips for navigating the course:

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