Property Management News
The numbers aren’t dramatic at this point, but apartment vacancies are increasing, rents are decreasing and more tenant concessions seem likely. As the recession created by COVID-19 potentially worsens, so could these issues for apartment owners and managers. “Vacancies are going up and beneficial apartment owners have to get ahead of this early trend, and training frontline staff is the easiest defensive move to make,” said SVN Rock Advisors Inc., Brokerage chief executive officer Derek Lobo, who hosted a July 14 webinar on defending occupancies, rental rates and cash flows in the second half of 2020. Despite the somewhat troubling indicators, Lobo remains bullish on the... Read more
Housing is a central component of inequality in this country, and the apartment industry and apartment owners are in a position to directly address issues of inequality...
Thirty percent of all Americans live in multi-tenant environments (“MTEs”) like apartment buildings. Their annual income tends to be only about 54% of median...
Your apartment community’s pet policy is one of the first qualifiers an apartment seeker has when searching for a new home. Whether you accept their furry friend...
The coronavirus pandemic has dramatically changed the investment landscape. For investors who’ve experienced the recent stock market volatility, private real...
According to a recent study, the expectation for revenue growth by surveyed Property Managers in 2020 is 11% lower than it was in 2019. This comes as no surprise as this has been one of the toughest years across many industries. We’ve been forced to slow down and recalibrate to new normals of digital dialects and creative revenue boosters. An innovative company funded by Y Combinator and Bain Capital Ventures has created a revenue boosting service for property managers that: Adds $48/door in new annual revenues by offering tenants a personal assistant for their rental. Frees up the time and effort that property managers normally spend on maintenance coordination. Increases... Read more
Do you remember when mobile banking entered the tech space? It started small with SMS but eventually grew to what we now see today: an application that allows you access...
Courtney Jones, a Chicago real estate agent and developer, has the perfect analogy for racial inequity in modern-day real estate: Picture a game of Monopoly, and then...
For more than a century, property investment has been one of the most reliable ways to generate wealth. Aggressive and persistent businesspeople could make smart...
Most of us would love to have five or ten rental properties generating passive income for us every month. Far fewer of us actually own any rentals, having bumped up...
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