Property Management: Mowing the Grass
Posted on: March 07, 2012 by total
Landscaping is important. In the property management business spring is when we set up for the summer pool season. Winter is the time to think about the spring growing season and how to best address grounds maintenance. Addressing landscaping, ground cover, plantings and soils seems like such a simple question. At the very least it takes pre-planning to assure fixed price contracts in advance of service. If a plant scientist were to survey the grounds of your income property assets their report would say some like: there are 55 “species” of plants and three invasive varietals that are negatively impacting sustainability. And your comment would be; “I only want my property to look good- neat and clean with green grass and pretty flowers. What’s all this talk about invasive species!”. Like farmers, property management requires having a well rounded skill set. Alas, we must rely on our subject matter experts to get us through the necessary gory details. For example, using the wrong seed in shady areas can be a flat out waste of money. The use of plants that require high maintenance should be avoided when a suitable substitute with lower carry costs is appropriate. Factor in water conservation. Some plants truly drink like elephants. The importance of ground cover in landscaping really comes into play when the conversation includes any word similar to soils erosion or basement leaks. When it comes to soil conservation, preservation and removing or re-directing run off we want ground cover to be our friend. This requires planning.
Multifamily Make-Ready’s Made Easy
Posted on: March 01, 2012 by total
The best way to assure easy make-ready’s is to have as few as possible, right? How to make that happen? With an earnest focus on leasing renewals. Focusing on renewals reduces turnover. Concessions at lease renewal are almost always less expensive than turnover expenditures. Be it carpet cleaning, painting an accent wall or a few new light fixtures, any of these require less cash than a full make-ready. Considering potential days vacant they are a bargain. What else makes make-ready’s easy? Preparation. Preparation is having a handle on the resources required to perform make-ready’s thirty days prior to requiring those resources. By resources we mean lining up labor, material and equipment. Simple, right? But where to store that roll of carpet?? We’ll get back to that. More importantly make-ready’s begin with the lease renewal process.
How to Select a Lock
Posted on: February 16, 2012 by total
This is a discussion on selecting door locks for apartment communities. Having this conversation ten years ago our consensus was that early in the 21st century we will all have paperless offices and key-less locks. Guess what; didn’t happen. Is your office paperless? Are your communities key-less? The likelihood is low. Electronic locks are the future. They provide a myriad of benefits to commercial multifamily property owners. New developments with on-site management must consider the benefits of electronic locks. Then there is everyone else; those with assets new and old that have 100 year-old technology (older really)- the lock and key
Survey: Fewer Renters Plan to Renew Leases
Posted on: February 14, 2012 by total
ShareThis In a survey of renters conducted by Kingsley Associates shows fewer renters intend to renew their current lease. This figure represents a new, three-year low for lease retention
Top 10 Worst Property Management Mistakes
Posted on: February 02, 2012 by total
The question that will come to mind as you read this is “who does that?”. The unfortunate answer is too many people. We are in an industry full of talented people. Mostly. If these mistakes are occurring with your assets it is probably time to look for new management, first to stop the damage and second to remedy the potential of on-going issues and the exposure they present. Suffice to say these are all