Find More Tenants with Video Marketing

marketing rental propertiesIf you saw our recent Visually Attract Tenants infographic, then you already know that videos can significantly improve the quality of the leads you get. When potential applicants have access to a walk-through video of your vacancy, they are able to immediately get a sense of what your rental property is like. Rather than sending interested applicants vacancy videos via email alone, use your video content to attract tenants on social media as well. With your smartphone alone, you can get a boost in applicants and build your reputation within the local area. Continue reading

“2-Persons per Bedroom” Policy Might be Discriminatory

By: Becky Bower

HUD familial housing occupancyRecently the policy restricting occupancy to two-persons per bedroom has come into question. Arguing that the occupancy standards are discriminatory because they are based on familial status, will this be the leading trend in fair housing litigation?

But what about the “Keating Memo”?

The Keating Memo, issued in December 1998 by HUD, established the two-persons per bedroom maximum occupancy as the standard policy. According to the memo, the two-persons per bedroom rule is acceptable with some limited exceptions in light of other relevant factors. One example of an exception would be that two adult parents with an infant child should be allowed to rent a large one-bedroom. Continue reading

SMS/Text Notifications Coming Soon to Suite of ApplyConnect Features

By: Becky Bower
sms ac1SMS notifications will soon be added to ApplyConnect®’s suite of free features! Landlords and real estate agent users can be immediately notified via text message in addition to email when a renter’s online application and background screening report are ready to view. Perfect for when you’re on-the-go!

“We’re constantly looking for better ways to help you keep in touch with your applicants through ApplyConnect,” said Sabrina Bower, President of ApplyConnect®, “and text notifications will do just that.” Continue reading

How To Increase Renewal Rates

 

improve rental property lease renewalTenant turnover expenses can quickly add up beyond the time investment required to fill a vacant property.

Multifamily Executive reported last year that renewal rates have hit an all time high with 51.5% of the nation’s apartment renters choosing to renew their leases in August 2015.  This number reflects a historic high, despite rising rental rates and large levels of new supply.

Nationally high renewal rates is great news for property managers who understand the expenses associated with tenant turnover. The cleaning costs, repairs, and lost income from the turnover period can cause a serious dent in your cash flow.

The reality of tenant turnover results in a mad dash for property managers to keep their best renters happy and settled. Why spend precious time marketing a rental property when you already have rent paying tenants living in the property? Like most ideal business scenarios, however, renter retention is easier said than done. Continue reading

What is the Value of a Single Lease Renewal?

rental housing lease renewalWhether you operate a shoe shine stand or a multifamily property your business is built on renewals, or re-occurring income from existing customers.  In multifamily, a high percentage renewal rate makes for a much more predictable income stream.

The value of a lease renewal can be quantified.  Granted, while different for each property, the amount is one that has a direct impact on asset value, particularly when multiplied by their effect on year-over-year Net Operating Income. Continue reading