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Texas Has Fresh Take on Affordable Housing

Developers in Houston and San Antonio are thinking outside the traditional apartment box when it comes to affordable housing options. With home ownership and multi-use options, these developers are making the rest of the country stand up and take another look at Texas.
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2017 Poised to See Moderating Multifamily Profits

Market predictions in the multifamily industry are usually pretty accurate. The same economy of scale that makes this type of investing so lucrative also makes it pretty predictable, based on demographic shifts and economic cycles. The way things look right now, this year promises to bring a leveling off of multifamily housing demand.
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Four realistic resolutions for property managers in 2017

The new year inspires many with its clean slate and possibilities. As a property manager, you also have an opportunity to set goals and resolve to improve your business. Here are a few realistic and measurable resolutions for property managers to implement this year:

  1. Get organized with new property management software. Rent payments and management-tenant communication are going digital now, more than ever. Go for some integrated software that can run useful efficiency reports and handle CRM efforts, and you’ll be thankful for less duplication of effort. Your tenants will also appreciate the modernization.
  2. Learn more about your target audience (your tenants). Find some blogs to follow that keep up with Millennials, technology, and Baby Boomers. Do the research to learn what’s trending among current and potential renters, and keep your staff up-to-date on trends, as well. Get feedback in the form of quick surveys, and use that data to streamline processes and better serve your clientele. They will appreciate the new focus and individualized attention.
  3. Get to know your competition. This should be an ongoing task. The only way your properties will remain competitive and desirable is if you know what your competitors are doing. Send in secret shoppers to get the full tour and pitch, and glean some branding information from various digital marketing channels and printed materials. How do you stack up? This takes honesty and introspection, and maybe even a focus group or two. Messaging is important.
  4. Resolve to protect resident data. Identity theft is everywhere these days, and it’s not enough to have a password-protected management system. Educate your tenants about how to protect themselves when using community wi-fi. Communicate with them what you’re doing to protect the data they’ve entrusted you with in their leasing materials. Invest in security measures that will give your residents peace of mind, knowing you’re doing everything you can to keep their information safe. If you do have a breach? Handle it immediately and openly, recruit residents to help secure their own identities, and offer a year of LifeLock or a similar identity theft protection program.

Any one of these resolutions requires a commitment to better customer service through change management. It’s all possible. It’s also absolutely necessary if you want to remain competitive and protect your investment in the new year, and for years to come.

We can help. Contact the professionals at Class A Management today by calling 817-284-1411 or by email to info@classamgmt.com.