Archive for: March 2015
Property Managers understand the importance in offering a higher service in maintenance, and be constantly improving to keep the appearance and condition of their apartment or home. Knowing that maintenance plays such a critical role, for the renewal and for fluent management, here are 4 tips that could be easily applied and have beneficial outcome.
1. Identify Common Maintenance Service Requests
“As an entire team, sit together and identify the 10 most common service requests at your community. For each of those 10, identify if there is a troubleshooting tip the office can suggest to the resident to see if they can resolve it on their own (i.e., reset button on garbage disposal or outlet), and define five key questions the maintenance team would like you to ask regarding that service request to get the best detail possible.
2. Follow Up on Every Maintenance Service Request
Follow-up on every completed service request, whether by phone or email. Be sure to ask, “Did we complete everything to your expectation?” and “Is there anything else we can do for you?”
3. Introduce Maintenance Service Team Members by Name
During tours, if you see a maintenance team member, introduce them by name to the prospect and give some highlights about them such as, “Joe’s been taking care of this community for nine years now” or “Jackie and her team are usually able to resolve any service request within 24 hours.”
4. Nurture Communication between Maintenance and Office Teams
Nurture constant communication between the maintenance team and the property management team. The better the communication and respect within the entire team, the more comfortable and secure the residents feel about the service they are receiving. There’s not room here for Us vs. Them. We’re all on the same team!”
Going green will not only benefit the environment but also it going to save lots of money in energy bills making the investment more profitable in the long run.
Investors, developers and management companies started realizing the importance of making their properties environmental efficient. Fannie Mae announced that will give discounts on interest rates in buildings that have energy stamp approval.
After this implementations were approved in February 2015, companies started being more conscious about this matter, “0-basis-point reduction in the interest rate of a multifamily refinance, acquisition or supplemental mortgage loan will be automatic for an energy efficient-certified property, according to Fannie Mae. That means, for example, that interest on a market rate loan of 4 percent will drop to 3.9 percent. On a $10 million loan amortized over 30 years, that’s a savings of $95,000, says Fannie Mae.”
These resolution makes a winning-winning situation to all parties, the environment and the business. Not only new buildings are being qualified to a stamp approve, also old buildings are bringing solutions to become green and get the certification ““Older buildings are just as likely to be energy efficient and be among the top performers and attain an ENERGY STAR certification as newer buildings are. In fact, a number of cities that have benchmarking laws have done their own studies of all the buildings reporting data. Pretty much across the board what they’ve found is that the age of the building is not correlated with their energy performance at all, meaning older buildings are just as likely to be good performers.”
The older generation could become the horizon for the multifamily business. There are several reasons that make an elder crowd better tenants, and a better investment opportunity for property owners.
“The last thing any apartment owner wants to see inside a unit is a Hangover sequel produced by irresponsible renters. Let’s face it, some people who rent don’t treat their homes like they would want to be treated.”
The is a winning-winning situation for all parties renting the multifamily properties to elder crowds, they are smarter with their expenses, they realize their financial situation and they are have the capability to have more interest in taking care of their home as if it was theirs.
“The multifamily rental industry has charge led by baby boomers perhaps opens opportunities for landlords to have their rent and eat it, too. These are presumably a more responsible lot – they’ve raised their children, achieved their corporate standing and climbed their social ladders – and are less likely to head-butt walls. They’ll probably leave the place much like they found it.
It only supports why apartment industry executives have another reason to embrace the evolving aging of population. Baby boomers are entering their golden years and appear to be hanging around longer than previous generations. The rate of people over 65 and 75 is growing, and becoming a desirable demographic for the apartment industry.”