Dear Friends and Family,
I wish you and your loved ones a happy and healthy Thanksgiving, and don’t forget to pay your property taxes that need to be postmarked by December 10th!
As we strive to achieve the highest rents and best return on our investments, the National Multi-Housing Council and Kingsley Associates show us what renters are really desire. The rise of Prop Tech and endless technological building features are overwhelming, but some are preferable in the long term. We examine ways to reduce to mitigate the financial burden that we all dread, tenant turnover. All while one innovative security company offers a modern solution to the ever-frustrating community access call box.
Do You Know What your Prospective Tenants Want? The Answers May Surprise You
Did you know that the number one apartment feature prospective tenants are interested in is central air-conditioning? Or that among community features, forget about on-site fitness centers, they would be willing to pay the highest premium for on-site child care? The results of an annual survey administered by NMHC and Kingsley Associates take an in-depth dive into today’s apartment renter preferences.
Keeping up with Smart Home Tech in Apartments Today
Keeping up with smart home technology in the apartment space can be a daunting task. As an owner or operator, options abound for the devices you put in your units, as well as how you wire the building. It’s enough to make the best multi-family pros dizzy. “You’ve really go to take a step back from all the pandemonium that’s occurring around this topic and all the marketing that companies are putting out there,” says Jeff Kok, chief innovation officer at Dallas-based Mill Creek Residential, which counts 19,700 units in its portfolio. “You’ve got to look at what matters most long term.”
6 Tips for Saving Money During Tenant Turnover
It’s common knowledge that one of your biggest costs as a landlord is the turnover process. Every landlord hates it. You have a unit sitting vacant for a few weeks while you’re paying the utilities, and you need to do repairs, advertise, meet new applicants, and screen tenants. Having a tenant move out is just a headache. While it’s going to happen no matter what you do, here are some ways I reduce the cost of turnover.
Centralized Vision Offers Remote Call Box Security Management
In response to difficulties surrounding the traditional call box multi-family community access systems, Phoenix-based Centralized Vision is offering the Virtual Greeting/Concierge platform, designed as an extension of its security and surveillance services specifically for call box management and front door security. Once connected to a call box, Centralized Vision will greet the caller by name and assess them based on their response to the call. Centralized Vision can decide whether to let the visitor in or keep them out or forward the call to the community manager if desired.
Interested in a FREE Property Operations Analysis? At Glaser Property Management we thoroughly review your lease agreements, management agreement and Profit & Loss statement to find ways to reduce expenses and add value to your property’s Net Income.
Are you an Agent/Broker with a client looking for a property manager? We DO NOT COMPETE with brokers when it comes to sales and we will keep the relationship strong for you. Additionally, we provide generous and ongoing referral fees.
As always, please respond with your questions, comments and thoughts. Until next time, hope you have a great rest of your day!