Category Archives: Residential Management

Article written by Emma Shean at RPM (Residential Property Managers) Oh, Excel. Look at you with your hundreds of columns and fancy mathematical equations. Why do you look so professional when really you’re making property managers’ lives hell? It’s because … Continue reading

Posted in Commercial Management, Residential Management | Leave a comment

The way a property looks is determined by many different factors. It is not simply the maintenance of landscaping or the dumpster overflowing. All the components have to match in the puzzle of aesthetics, and every little detail will come … Continue reading

Posted in Commercial Management, Property Management, Residential Management | Leave a comment

  Have you ever walked into a business or a store and thought, “That person is just flat out miserable.”? Called somewhere and it was like you woke the person up from a sound sleep? Went to order at a … Continue reading

Posted in Property Management, Residential Management | Leave a comment

Best service, especially in the property management industry, can be deceiving because the needs and expectations of your residents are changing and evolving rapidly.  In addition, your residents are comparing your apartment communities to both your competition and to best service with every company, product or service they experience.  By reading this article, you will learn the steps for developing a system so your residents can tell you exactly what best service means to them! Developing resident surveys:  Start by gathering the leasing teams at the properties you manage and discuss the current level of resident service being given.  Also, ask for any feedback or suggestions they have heard or received from their residents.  Next, prepare a resident survey that might include some of the following questions:  Tell us about the best service you have ever received while living in any apartment community.  Tell us about the best service you have ever received from any company or individual and why this was the best.  Tell us how we can improve your living experience with our apartment community.  Lastly, ask your leasing teams for suggestions on how these surveys might best be presented to their residents.  Many of our property management clients ask their leasing teams to hand deliver these surveys to their residents on Saturday morning for a personalized touch while others give out small prizes to the first 25 survey responses.       Tip From The Coach:  Do you want to experience best service?  Take a few hours and visit a high-end retail location like Nordstrom, a Ritz-Carlton hotel or Tiffany’s.  When visiting these world-class locations, observe how they greet you, the words they select when assisting you, the types and variety of products or services they provide, the colors and fabrics they use and the quality of their brochures and printed materials.  As a side note, any employee of a Ritz-Carlton can fix a guest service problem instantly, for up to $2,000!  Implementing resident surveys:  Once you and your leasing teams have received the responses to these resident surveys you can now set your service standards at or above the level of your resident’ expectations.  As a next step, summarize the results from these resident surveys and look for any repeated suggestions or recommendations.  Then, design an action-plan with your leasing teams based on the suggestions they are going to implement over the next 30-60 days. Continue reading

Posted in Residential Management | Tagged , , , , , , , , , , , , , | Leave a comment

Here are eight ways to read a rent roll with an eye towards determining stability of the tenant base.  The objective is to provide insight into the stability of the asset by knowing the financial reality associated with the income stream from the multifamily asset. Baseline Data.  When beginning a review of the rent roll ask for two copies; one for the current month and one for the same month from the previous year (two years if you can get it). Continue reading

Posted in Residential Management | Tagged , , , , , , , , , , , , , | Leave a comment