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Infographic: How to Choose the Best Property Management Team

How to Choose the Best Property Management Team
If hiring a property management company is on your list of action items, you need assurance that your needs are aligned with the PM company;s offerings. Gaining this assurance begins with asking the right questions during the vetting process.
The following infographic was created by the bright minds at First Residential to provide tips on choosing the right HOA management firm, but the questions are right-in for guiding your PM selection process as well.

How to Choose the Best Property Management Company to Fit Your Needs

From Visually.
See what a difference it can be to work with our tram of trained and certified property managers. Call us at 817-284-1411, or send an email to info@classamgmt.com.
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How to Get Rid of Weeds

How to Get Rid of Weeds

This spring was a wet one. We all rejoiced, especially property owners and managers, as the need to water (and thus the water bill) went down. Yet, with all that rain comes a repercussion with which we’re all now finding ourselves faced: weeds.

As a recent Times Record News article explains, “Weed control has been very difficult, if not impossible and with adequate rainfall comes pesky weeds.” As is often the case, managers and owners have significant ground coverage to worry about; making this issue a considerable one during the summer.

What can be done? Here are a couple of ideas:

Apply pre-emergent.

According to the Garden Counselor, a good pre-emergent application will “eliminate weeds at the earliest stage of growth — before you even see them.” Benefits to such application include: complete elimination; less labor than pulling or dealing with them after they’ve grown-in; and less work in subsequent seasons.

Yet, pre-emergent applications have their challenges. They must be soaked into or tilled into the soil. With many areas faced with water restrictions during hot months, this can be a difficult task to complete. The solution is to address this issue during the cooler months of January to March, before things get out of hand and water restrictions aren’t in force. Then, apply a second application as needed, during June or July, watering during non-restricted hours or days only.

Reconsider the landscape.

There is another, more drastic but effective approach for properties that could use a significant overhaul to the landscape, or for those that are currently being constructed or planned…the no-grass approach.

It’s likely that you’ve seen a property or two around town that is addressing the problem by eliminating any chance of it occurring, which involves eliminating the grass all together in favor of rock or caliche. Not only are weeds a non-consideration, but the water bills takes a dramatic dive as well.

We’ve got more for you…

Ready for more ideas like these? Our team of trained professionals has a lot more where these came from. Contact us today to experience the Class A Management difference. Call us at 817-284-1411, or send an email to info@classamgmt.com.

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Growth vs. Good Growth

Good Growth

Wait a minute. Isn’t all growth good growth? Nope. And, this infographic from the Multifamily Data Exchange sums up the difference between the two:

Tale-of-Two-Properties-Infographic

For more information and to read the full blog behind the infographic, click here.

To discover the benefit of working with a Class A Management professional, call us at 817-284-1411, or send an email to info@classamgmt.com.

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Making the Most of Social: Hot New Features Update

Social Media Innovations

Social media lives in the moment, and never as much as right now. Current trends in digital marketing are following an in-your-face approach to captivate audiences with interactive and live-streaming video, and promoting your property has become a video-heavy endeavor.

Facebook Goes Live

The undisputed king of social media, Facebook has announced new algorithms that seek to dominate live space online. Interactive, streaming video via the Facebook “live” feature is set to move straight to the top of viewers’ news feeds, so it’s a natural option for live “open house”-type property tours. Viewers can comment on your live feed with questions, which you can answer in real-time—a boon to the rental property market seeking to meet potential young renters where they live. On Facebook.

Twitter vs. Instagram and Snapchat

The ultimate forum for re-tweeted drama, Twitter is seeing a slump despite efforts to engage audiences with more GIF and video posting capabilities. It’s facing serious competition from Instagram and Snapchat, both of which are showing strong growth and engaging audiences with new advertising algorithms and video-streaming options. If you’re using Twitter as part of your social media marketing mix, add Instagram and Snapchat to cover all your bases, and don’t be afraid to cross-post.

Livestreaming: The New Darling of Social Media

Facebook isn’t the only place where you can find live streaming video: Periscope has made such an impact on digital marketing that Google is now developing YouTube Connect, a livestreaming app designed to help brands connect with audiences immediately and in an interactive setting. Remember to post those videos once the live stream is over; Pinterest is adopting video ads with an auto-play feature that initiates when the viewer stops scrolling.

Video is the new king of content for 2016, so break out that cell phone and start connecting with those tech-savvy potential tenants you may have been missing. Class A Management has experts who want to help you develop your marketing strategy and protect your occupancy rates. Call us today at 817-284-1411 or e-mail info@classamgmt.com.

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The Evolution of Apartment Pricing

Evolution Apartment Pricing

Once upon a time, apartment rents were based on supply and demand. While that’s still true to some extent, today’s pricing algorithms are much more intelligent than reactive, and it’s an industry trend that’s protecting investors’ bottom line more than ever.

The Guessing Game Goes High-Tech

The old pricing model might have taken into account local occupancy rates and comparable rents from other properties, and that provides some market responsiveness. What it doesn’t do is take into account value-added amenities and a single multifamily property’s level of risk from delayed lease renewals that end up on a month-to-month program and could vacate at any moment.

Enter: predictive analysis rental property pricing. It’s a more scientific approach to customizing your property’s unit pricing based on history, your local market, your community amenities, and the risk-and-reward balance that all those factors provide. Predictive analytics adjusts rent up or down primarily depending on risk, and it’s not a brave new idea. Mortgage agents and auto financiers have used credit scores as predictors of risk for years, but this is a game-changer for setting property rent rates.

How to Build an Ideal Pricing Model

There are turnkey software packages—such as RentPush—that can automatically suggest rents based on your input. With just a few keystrokes and uploading some property history, this type of software can take care of pricing strategy so property managers can focus on marketing a property that’s priced to protect the bottom line and takes risk into account.

Before you begin shopping for a data mining software, it’s a good idea to learn more about predictive analytics so you’re a better-prepared consumer. Or, leave it to the experts to find the pricing model that best suits your property, location, and target tenants. Class A Management has experts who want to help you develop a strategy and grow your investment portfolio. Call us today at 817-284-1411 or e-mail info@classamgmt.com.