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Everyone wants a close parking space, but periodically properties learn that they have residents who need them.
If your company is involved in a case at the appellate level, NAA can help by submitting a “friend of the court” (amicus curiae) brief on your behalf. NAA’s appellate Legal Assistance Program provides expert attorneys who draft and submit a legal brief that:
• Supplements and strengthens the arguments your counsel makes to the court.
• Reminds the court of the national policy implications of your case and why your company’s legal position strengthens the country’s vital housing industry.
As you prepare your budgets for 2013, consider including investments in training and skill-building for members of your onsite team. Nothing makes employees feel more valued than their supervisor demonstrating commitment to their professional development.
I remember the first time I was put in charge of taking care of the pool and thinking to myself “How hard can it possibly be?” Was I in for a surprise! A swimming pool is not only complex, but when it is not taken care of correctly it results in wasting chemicals, unnecessary expenses and it significantly shortens the life of the pool surface and equipment. All of which cost your company money.
Every year over 1,200 refugee families leave camps in Africa, Asia, the Balkans and many other places bound for Utah. The state Refugee Services Office coordinates services for these newly arriving refugees while they get jobs and establish themselves in their new country. One of the biggest challenges for these new legal US residents is housing.
I wrote an article a while ago that addressed the issues of offering concessions. Actually, it was more of a rant, but you can believe that I meant every single word of it. The truth is that at the time, I was face to face with a tough decision to toss my convictions aside and offer concessions at McNeil House (the first apartment community I built, 193 units in Austin Texas), or continue receiving only three or four new leases per week, while around twenty new apartments per week were completing construction and ready to lease!
“When you hire the best, the rest is easy!” We have heard this phrase many times, but how do we put this concept into action? We know that hiring the best people is vital to the success of our business, especially in property management. And certainly, the residents who live in the apartments you manage have high service expectations. So…how do you hire and keep property management superstars? Let’s start from the beginning.
Landlords, as a courtesy to their residents, often agree to accept deliveries at a rental office. On-site personnel should be aware of their potential liability if something happens to a package while in their care. This article will examine this area of law and a recent court decision.
Many residents work during the day and no one is usually home to accept deliveries. These items could include products bought by the person or packages from family members who reside out of town or out of state.
Outside Core Markets and Multifamily, Pricing and Capital Access Remain Flat
Commercial real estate market and capital conditions appear to have weakened again and are not expected to improve much over the coming year, except for pockets of strong activity and price appreciation in core "gateway markets" and the multifamily (apartment) segment, according to The Real Estate Roundtable's Q3 Sentiment Survey, released recently.
Freddie Mac (OTC: FMCC) released recently its U.S. Economic and Housing Market Outlook for August showing why the so-called shadow inventory might not be as foreboding as many thought and an important reason why is the rate at which excess housing is being absorbed.
NMHC Compensation Survey finds property management, leasing and maintenance in high demand
New unit deliveries accelerating, but not yet substantially impacting rent growth.
Dear Maintenance Men:
Do you have a prioritized maintenance list you use when doing a building inspection? I am preparing to do my yearly property inspection and need a bit of guidance.
Knowing what you are going to inspect before arriving at the property will make the job easier. We suggest keeping a separate log sheet for each unit with the inspection items listed. Keep in mind that the completed list can be used to verify maintenance compliance for an insurance audit and useful during a purchase or sale of the property.
Property managers know that maintaining attractive landscaping is a key part of keeping tenants and neighbors happy. But that can become costly and labor-intensive especially during hot summer days. In fact, many property managers report that water use (and water-related cost) doubles or even triples in summer months due to outdoor watering.
To encourage excellence and promote scholarship in the field of real estate property and asset management, the Institute of Real Estate Management (IREM®) and the IREM® Foundation are sponsoring writing competitions for college and university students studying real estate as well as their professors.
Whether you have several vacancies and upcoming notices to lease or you are down to that last “net to rent,” you must still qualify your prospects in order to ultimately secure the rental. How you remember and record the needs and preferences of your callers and visitors, is just as important as obtaining the information in the first place. Following is a question that came up during a training session on the topic of guest cards:
Digested from Apartment Research Market Report by Marcus & Millichap for the Wasatch Front for the Third Quarter 2012
The National Apartment Association’s 2012 Market Report for Salt Lake City, Utah, provided by Marcus and Millichap, is forecasting prime conditions in the rental market for Utah for the last quarter of 2012. A combination of not enough product and increased demand has led to a market that is advantageous for current rental property owners.
This August, approximately 174,000 young adults will be leaving home to attend college. This means many of them will be renting an apartment, signing a lease, and negotiating roommate relationships for the first time. Landlords renting to this demographic should understand that while some issues that concern first-time renters and their parents are contractual, the majority of concerns have to do with apartment safety.
On July 10, the Orem City Council voted unanimously to lift the city’s ban on accessory apartments. The ban had been in effect since 2003. It prohibited homeowners from renting any part of their house out for profit (i.e. the basement).
One of the challenges landlords face is dealing with the attention, regulation and frequent interaction with their city. Sometimes it is the licensing department; other times it can be the inspectors or police. In my experience, I have seen many property managers and owners tripped up by a failure to understand how to handle these interactions. In many cases, not handling things correctly can cost more money, waste time and create headaches for everyone involved.