Centralization, as we all know, is a hot topic in the multifamily industry. This conversation began a few years ago when a few public REITs began to talk about changes to their property staffing models. I, among others, initially believed that once centralization started, everyone else would follow. If a few companies were achieving superior returns, the rest would naturally want to emulate them.However, the last two years of 20 for 20 rese ...
A large influx of residents believe that given what they pay, they should be entitled to being ensured safety & security
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Your true competitors–do you know who they are? Identifying your true competition is vital for making strategic decisions that enhance your financial position and ensure long-term success of your properties. Traditional market survey methods–calling up and comparing floor plans and rents of nearby communities targeting the same resident demographics–are outdated and insufficient. This cumbersome process barely scratches the surface of ident ...
‘Going to put notices out! See y’all in two years!!’ 😳😳
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Sorry for a duplicate post. I searched and saw some feedback but it was from a few years ago. We are just starting our research on changing our PMS from Real Page to Yardi or Entrada. We are a mix of conventional and military housing. I want to hear it all, pros, cons for Yardi and Entrada. We...
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I am looking for suggestions for self guided tour options for our duplex rentals
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I stopped going to a favorite restaurant lately.I loved this restaurant because it was close to my home, the food was good, the portions were fine, they'd work with some of my dietary preferences, and the price was fair.Because of this it my go to restaurant for everything from "date days" with my wife, to a place where we could met up with a group of people (and have everyone find something on the menu they'd like). The problem is ...
We are weighing the pros and cons of hiring additional maintenance techs versus using a make-ready company to turn over the apartments. If you are doing the make-readies in-house, does your lead maintenance take care of these or another maintenance tech? I'd love some feedback on what's working for you and its cost-effectiveness.
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They do most leading virtually but book on site tours for the property using the outlook calender. All the onsite team is responsible for is the move in experience.
With most other things centralized, you can really downsize your on site office staff and focus more on resident retention and relation. Focus on your community and customer service as a whole leading to less burn out.
The thing that's interesting that admin outsourcing is that those tasks we associate with APMs tend to be done in shared services by most big companies. By moving it offsite (or in this example to a third party) you get to focus property teams exclusively on selling/service delivery. I think that's a great approach. Leasing centralization looks highly context-specific to me.
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