Currently, it’s very easy to go online and create fake pay stubs or new identities that will help individuals get approved that may not meet all of your requirements based on their actual credit history and income. In the past it has been time consuming and/or costly to run background and income checks on applicants. So the question arises how in-depth your screening process needs to be?
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Property Solutions recently targeted a number of our clients for an intensive study on the processes surrounding lease signing and renewals. The responses indicate that, while the multifamily industry is embracing technology more and more in their marketing and resident retention efforts, many use the same labor and paper-intensive practices for lease execution and renewals that they were using decades ago. Here’s what we found:
One of the few positive consequences of the pandemic was that the odd segment of history fostered a greater connection with pets. Many shelters sat empty as adoption rates skyrocketed, and pets in general got the opportunity to witness their owners stay home more than ever.
If you work in property management, you know what it feels like to be busy. You’re a champion juggler, keeping dozens of balls in the air and balancing the needs of residents, owners, and staff. Here’s the question. Is your software just another ball to juggle, or is it an extra arm?
It is a truth universally acknowledged, that renters must be compelled to carry renters insurance coverage. We all know that renters insurance is a good idea for residents and property owners and managers. But, the alarming reality of the situation is, if renters are allowed to execute their lease without showing proof of coverage less than 20 percent of residents in the country will procure renters insurance. This is the reason more than 2/3 of apartment properties in the U.S. require residents to carry renters insurance as part of the terms of their lease. Those who don’t require renters insurance risk significant loss and impact to the property, the resident, and overall profitability. Even if you already require renters insurance at your property, read on. There are some things you’ll want to consider:
Ask anyone who works in multifamily about the challenges facing the industry, and you won’t have to wait long for the topic of soaring property insurance costs to come up.
Centralization isn’t one-size-fits-all. Property management companies are looking to centralize their business through new workflows, consolidating processes, shifting organization structures, etc for a variety of reasons. These include reasons like:
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