Technology has develop lots of new features in the Real Estate industry, especially in facilitating daily tasks making them more automated. Having the power to control almost any appliance in your house, using the smartphones apps is the future of homes. There is a lot of potential to grow, in a particular market that is developing, the only downside is its price tag. “This is smart home technology” “All of this would be fabulous to install in apartment homes, except it costs about $50,000 a unit.”

Utilities, lighting, plug loads, doors, and windows are among components that can be monitored and accessed through smartphones, tablets, and other devices. At least two apartment developers are finding out how smart home technology can work for them. Forest City Residential Group and AMLI Residential are testing smart devices at some communities.

In these industry looking for success sometimes means differentiating from the rest, these developers are integrating new technology in communities expecting good feedback and good advice from residents to keep improvements.

Also, a very important factor is using technology to communicate with residents effectively and rapidly with new systems, this will allow them to improve their communication and customer service.

“Are HOA’s fining you for those horrendous oil spill stains on your driveway or on the street in front of you house. Have you tried everything from toxic degreasers, detergents, and even acid, only to find that when the residue runs into your yard it kills the vegetation – prompting new fines from the HOA?  You need a driveway cleaner that works!”

There are tons of products that can be utilize to clean your driveway. But, there is the perfect formula that can take all the old stains and leave the concrete spotless, the product is the Terminator- HSD. Terminator HTerminator-HSD-Concrete Cleaner is an Eco-friendly oil stain remover.

This efficient product can be used to remove tough oil stains from driveways and garage floors. Apart from home use, this biodegradable green cleaning product can be used to keep gas stations, parking lots, and auto repair shops free from oil stains.

Watch video to learn more about the product an application:  https://www.youtube.com/watch?v=cbryvYZIJx0

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There are lots of reasons why is convenient to hire a property management company to have control of the property, since  you already know that dealing with tenants and problems with the property itself can be hectic.

1. Screening of Tenants

One of the biggest worries that many landlords face is finding good tenants. It is a hard job, but is crucial to have some detail background information from the tenant especially financial and criminal records.

2. Collection of Rent

It can be a pain to go to every property and each renter’s door to collect the rent monthly. You have a life beyond being a landlord. Your property management company will collect rent for you. Most companies will have the tenant bring or mail in the rent to their office.

3. Maintenance of Property

There is nothing worse than getting a phone call in the middle of the night about a clogged toilet or other repair issue. The management company often provides around the clock maintenance to make sure that everything is in working order. They will respond to these emergencies for you. They may have contracts with plumbing and electrical companies, as well as other people that are needed to keep your property maintained.

The solution is to hire a property management company that has all the tools needed to assist tenants and owners at the same time, building a healthy relationship for all parties.

Vacancies can come up at the most unexpected times. The end of a year, even though it’s a holiday season, is no exception. Neither are the early months of winter when fewer moves occur. That’s why property managers need multiple ways to attract new residents that work all year round. It’s also effective to have many clever methods that will fill vacancies as quickly as possible.

Here are a few more ideas for filling your vacancies as quickly as possible:

1. Gather contact information on local churches and synagogues. Ask for the name of the secretary or director of services. When vacancies arise email them pertinent information useful to their congregants.
2. Do you have a local Housing Authority in your community? If so discover how you can serve their housing needs. Ask them for their suggestions on how you can be a source of help.
3. Create your own list of reliable current residents with whom you’ve built strong relationships. Ask for their help in finding more people like them to be their neighbors. Residents feel respected when you offer them the chance to bring in referrals. A “thank you” gift is smart too.

Make sure you have a strong social media presence, it will give you free advertising and a overall strong background in the digital marketing.

Some people misuse the perception of being “Green”, just because it may not be as “cool” today to take your property management business in a “green” direction doesn’t mean it’s not rewarding. Besides all satisfactions and rewards come with the sustainable plan that could save you thousands of dollars.

The HUD in 2007 introduced their “Green Initiative” program, which gave initiative to property owners to rehabilitate their buildings using the sustainable Green Building principles. There’s also a Credential for Green Property Management (CPGM) you can qualify for. It offers management companies and owners a mechanism for meeting the training commitments to the HUD Office of Affordable Preservation (OAHP) if they’ve qualified for a “green restructuring”.

It isn’t rocket science to imagine that the kind of people who make excellent renters are also impressed with buildings updated to be both environmentally sensitive as well as healthier to live in.

Each of the following topics is covered in the credential training, with a cumulative total of at least 8 hours in these areas:

• Green Building Principles and Practices Overview
• Energy Efficiency
• Water Efficiency
• Integrated Pest Management
• Indoor Air
• Quality
• Green Operations and Maintenance

Other topics that may be included in the 16-hour requirement include:

• Green Site Landscaping, Xeriscape, Composting, etc.
• Green Building Systems
• Alternative Energy Sources (Solar, Wind, Geothermal, Combined Heat and Power, Co-generation)
• Energy Star (including indoor and outdoor lighting) and WaterSense Programs
• Recycling and Waste Reduction
• Resident Green Education

To learn more in regards to the Green program visit : http://www.naahq.org/learn/education/credential-green-property-management

The rental business is been growing slowly but surely, it is doing a better job of convincing renters the importance and need of getting insurance. A 2014 Insurance Information Institute poll conducted by ORC International found that only 37 percent of renters have renter’s insurance, up eight percent from 2011. This number kept on growing since 2006, this is good news for insurance and for property management companies.

As a security, apartments should make renter’s insurance a priority, since both property and resident have a lot to lose. Apartments are going to be vulnerable to uninsured residents unless they require it within a lease and keenly manage it. Skipping out on insurance can be one of the biggest mistakes renters make, which is entirely avoidable.

To encourage renters to purchase insurance, provide them with viable insurance options, prior to signing their lease. A loss of possessions as a result of natural disaster could keep tenants from paying rent on time, which hurts property managers in the end.

Studies show 79 percent of mobile users who find a site difficult to use will look for the information they need on another site and never return.

There are several marketing strategies that can be tackle for the real estate industry, but nothing seems to be more efficient than mobile marketing. Almost 90 percent of shoppers use their mobile device during a property search, this is a pretty staggering stats, and a proof of real estate consumers are using more their mobile than the average consumer.

One of the most important things you should do to attract mobile users is to create a mobile-friendly website.  That means if your competitor has a mobile site and you don’t, you’re sending them a ton of business. Also, it is important to keep your website updated with the latest information since consumers are waiting for the trending relevant data. Three important factors to have in mind while building a website:

1. Simply change your template!
2. Build a mobile website.
3. Build a responsive website.

Stay tuned, because before you actually build that mobile site, you should know exactly what mobile consumers want and need when they land on a mobile website.

There have been many incidents and mistakes when tenants try to pay rent or make a money deposit. Rent payment checks stolen from drop boxes and employee fraud are small crimes behind the scenes at apartments that add up to big headaches for property managers. “I’ve heard stories of thieves using those static cleaners to lift checks and money orders out of drop boxes,”  Also, we seen cases where tenants mistake in writing the check, or other having trouble with the mail system losing their money order.

Technology offered a more efficient payment form and structure, the creation of E-payment is the safest and fastest way to pay rent. Now you don’t have to go buy a money order, come back and drop it off at the office during business hours or in that drop box/black whole. It is much simpler, setting a virtual account with all your bank information allowing every month to schedule a rent payment.

Electronic money orders offer advantages for owners, managers and residents

• Convenience and Security for Residents
• Help Properties Eliminate Internal Fraud
• Process Efficiencies
• Integration in Property Management Software
• Cash Payment Validation
• Real-Time Posting to Resident Ledger

One of the main factors that E-payment could influence tenants, is the time they save. They are able to manage their schedule more efficiently by only giving an online click they have the rent payment solved. Also, this encourages tenants to avoid late fees by summiting payment in the last minute saving them money on extra charges.

Maintenance can be a necessary evil in the apartment industry. Several factors can influence the expected capital gain outcome, such as investing in a new water heater, HVAC repairs, and pipes burst in units old and new. Repairs tend to add up, so do expenses, so the only backfire is an efficient management.

Effective management of repairs and expenses will reduce the blow in many cases, but that goes beyond getting good deals on replacement items. The solution is the usage of an effective maintenance management software, “If you look for right tools to execute your business strategy, you will win” Effective use of technology available today offers a close-up view of the moving parts of maintenance.

Property Owners are constantly looking for getting the most profitability in their unit, especially if it’s purchased with investment purposes. Maintenance is the biggest challenged faced by landlords, since repairs are expensive and labor even more. Adapting to new technology seems the most efficient outcome to the maintenance expense, but it should be apply with the right tool. Property Management firms tend to update their systems to become more competitive in this industry and to offer a better service.

Banks are back stimulating the real estate market essentially in the multifamily sector. We highlight the remarkable growth in multifamily loans that been issued by commercial banks. Among all categories, none has grown faster than the multifamily over the last six years, as an overall lending share is now in a 20 year high.  We examined evidence that the apartment sector isn’t giving any signs of reaching a “bubble crisis” status.

Nowadays, we see the bubble phenomenon far for the real estate industry, today’s climate has passed the recovery phase into the growth stage. “NOI growth, loan yields and cap rates all appear past peak levels, while apartment construction has surged to 25-year highs. At the same time, investor appetite for apartments hasn’t abated. Competition among lenders has picked up, returning some bargaining power back to borrowers.” (Property Management Insider)

To conclude, is recommended for multifamily owner or investors to reduce risk by refining acceptable characteristics for a multifamily loan, looking much more narrowly at geographies and classes most likely to grow NOI. Also, to seek more sophisticated benchmarking and forecasting data that’s owners or investors to see how an asset is positioned relative to the market or submarket. Property Management is the key of increasing NOI in the multifamily sector, since management could be the only key ingredient that could increase the NOI and bring clear results to problems.