May through September are typically the months when most tenants seek new apartment homes, with July and August being the highest volume months. Spring’s arrival signals it’s time for property managers to prepare for increased traffic to view vacancies and to commit resources to encourage lease renewal numbers.
The National Cable and Telecommunications Association (NCTA) announced that capabilities for high-speed broadband service is making impressive strides. As of June (2013), almost 93% of US residents had access to high-speed Internet, cable television programming and cable-based home telephone service.
Increasing crime rates near your community may have residents up in arms – literally – seeking better security for their homestead and their loved ones that occupy it. Whether you own or serve as the property management company for a multi-unit housing complex, make residents and homeowners’ safety a priority in 2014 by considering adding a security patrol to your agenda.
Good tenant screening is absolutely essential for successful property management. A few extra hours screening tenants thoroughly can save you days, weeks or even months of headaches down the line. There are many new services available through 2014 that will help you in conducting thorough tenant screenings, and there are some tips that are always relevant.
If you own a rental property near a university or community college, then it’s likely that there’s an abundant pool of students who are looking for off-campus housing. You may have avoided this demographic because for any numbers of reasons, such as their lack of credit history, uncertainty during summer months, and individuality.
“Imitation is the sincerest form of flattery.” We’ve all heard this Charles Colton quote, but how can we apply this concept to our marketing efforts in order to achieve greater efficiency and increase market share? The best marketers find opportunities to use ideas which have already been tested and proven….and then they innovate!
Maintenance and repair costs can eat quickly into any landlord’s income, especially first-time landlords that don’t adequately protect themselves. If you’re looking for some ways to reduce your overall maintenance and repair costs, you’ll need to plan things through from the very beginning.
Requiring residents to carry renters insurance is one of the most valuable property management levers that you have at your disposal. Unfortunately, a recent Insurance Information Institute (III) poll indicates a major discrepancy in the number of homeowners that have insurance at 96 percent compared to an estimated 35 percent of tenants who had renters insurance in 2013.
As the owner of rental properties, whether it be one or multiple units, annual inspections are a vital part of the process. Sometimes, you might have a long-term tenant that religiously renews that lease year after year – and you appreciate that. However, unless you employ a property manager to handle daily operations, property upkeep is your responsibility and you’ll need to perform the occasional inspection while a unit is still occupied.
With our co-hosts Grace Hill and Axiometrics, we hosted a fantastic webinar on Student Housing Trends: What’s Hot in 2014. Our presenter Jay Denton, from Axiometrics (leading provider of market data) covered the market analysis of the growing student housing sector and talked about what you can do in your business to capitalize on this fast growing trend.