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Infographic: How-to Guide for Reputation Management

You know me…I love to talk about reputation in the marketplace. I think it’s so important. I also think so few apartment owners get just how important it is, that if you ‘get it,’ you’ve got a competitive advantage.

I just recently wrote a blog on this topic in which I talk about why you should care just as much about your brand as the big boys (AKA Coke and similar companies) care about their own. So, Im so excited to be able to follow this up with an infographic that backs up the argument for making reputation management a priority and provides tips on tools that will help.

Enjoy!

esm_repmanagement_infographic

 

Need some reputation assistance? We’re your team! Contact the professionals at Class A Management today at info@classamgmt.com or by calling 817-284-1411.

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Incentives That Work for Multifamily Property Managers

Money motivates. But it’s not the only resource out there that will move your multifamily property managers to action. And, in fact, you may be surprised to find that there are many other tools accessible to you that will motivate your managers just as much, if not more, than money.

Don’t believe it?

According to a recent article from Inc. Magazine, there are more than 20 incentives your employees would love to receive from you. According to research, 44% of employees say the #1 benefit they want to receive is flexible working arrangements. That’s right. Forty-four percent.

While flex work arrangements aren’t all that compatible with the job of a property manager, there are plenty of other alternatives, to include:

  • Benefits: Health, dental, pension. It’s a costly expense. Yet, it motivates, according to 36% of respondents. So, if providing benefits in one way or another is something you can do for your employees, it’s worth considering. If you think it’s way too much, consider something more along the lines of Liberty Share. You can pay as little as $400 a month to provide your employee and his/her family with a medical cost sharing plan. They have little/no out of pocket, yet are reimbursed for 70% of their medical expenses.
  • Career advancement. Property management, in some instances, is limited to a single property. Yet, you can grow a manager’s role by allowing them to earn great responsibility over time. And, if you have multiple properties, the incentive is the chance to have oversight for more than 1 property or to gain a shot at a more corporate role at ‘headquarters.’
  • Compensation: You knew money would come up quickly, didn’t you? But get creative with it. Don’t just give a raise. Tie monetary incentives to performance expectations. Give a 10% bonus when your property manager fills all vacancies or receives rave reviews.
  • Training and education. It’s hard to believe that people will work harder for the chance to go to school. Thirty-one percent of respondents, however, say they will have greater engagement and loyalty to a company that invests in them in this way. The National Association of Residential Property Managers has a great online resource of property management classes that can be leveraged for this purpose.
  • Corporate culture. What does it mean to provide a corporate culture to which your property manager will want to stay loyal?
    1. Know what you stand for
    2. Be an owner who walks the walk
    3. Encourage your managers and breed positivity
    4. Be open, honest and don’t talk bad about others
    5. Reward excellence
    6. Have fun!

Let us help! Contact the professionals at Class A Management today to learn more about our services and how we can help you reach your property’s full potential. Call 817-284-1411 or send an email to info@classamanagement.com.

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Act Like Your Brand Matters

You don’t have to be a professional marketer to know that brand matters; and this isn’t true only for the big brands like Coke and Levi’s. It’s applicable to all brands, including that which belongs to your multifamily property.

I like best how brand expert, Jerry McLaughlin, speaks on the topic of brand. “I think “brand” is one of those words that is widely used but unevenly understood,” he says in a recent Forbes article. “Put simply, your “brand” is what your prospect thinks of when he or she hears your brand name.  It’s everything the public thinks it knows about your name brand offering—both factual (e.g. It comes in a robin’s-egg-blue box), and emotional (e.g. It’s romantic). Your brand name exists objectively; people can see it. It’s fixed. But your brand exists only in someone’s mind.”

Because brand perception is something that lives only in one’s mind, it’s both difficult to control and to change. Making sure your first impression is awesome and that it stays that way is therefore an ongoing challenge for businesses everywhere.

Here’s some tips to make it easier:

  • Know thyself. This is a phrase often used when talking about the importance of knowing what’s important to you, what you stand for, and your personal goals. Take all that and apply it to your multifamily business. What do you stand for? What is important to you in the way you reach and provide for the families that call your property ‘home?’ What are your goals? These are critical questions go to the root of your brand.
  • Write it down. Putting it in writing often helps to materialize thoughts and motivate actions. Thinking that our brand stands for keeping families safe is one thing. Seeing it in writing helps us consider factors that may not be so safe and incite us to action on making changes.
  • Talk it up. Walking the walk is so much more important than talking the talk; but making sure you’re drawing attention to your strengths and those things you want your brand to be remembered for is a critical consideration in every marketing campaign.
  • Be consistent. No matter what, make sure your message is consistent. You can’t say that your brand stands for affordability and be one of the highest priced properties in the area. Or, you can’t say that you offer concessions, but not offer them equally across the board. Trust and brand go hand-in-hand.

At Class A Management, we have a passion for helping our clients create and tell the story of their brands. Let us help you. Contact us today at 817-284-1411 or send us an email to info@classamgmt.com to learn more.

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Tapping the Benefits of Property Management

Wondering whether or not it’s time to look into professional property management? We love this infographic from Visually, which provides some pretty good insight into the considerations that should go into making such a decision.

Unlocking the Benefits of Property Management

From Visually.

Is it time?

If you determine that it’s time to hire a professional property management team to help you in the day-to-day and operations management of your multifamily property, our team is ready to help. Contact Class A Management today to learn more about the benefits you’ll tap through a partnership with our team.

Call 817-284-1411 or email info@classamgmt.com.

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Engaging Tenants in Sustainability Efforts

The property management world is going “green,” but it’s no longer just a marketable catchphrase—it’s an industry mandate created by its target audience. Responding to consumer demands drives the rental market to provide certain amenities and adjust rents accordingly, and answering the clarion call to sustainability is no different. What’s changed in recent years is that we now know that energy efficiency and sustainable building and investing practices are cost-effective for investors, as well as renters, so it’s time to jump on the bandwagon and let tenants know we’re all in this together.

Energy Efficiency Boasts Immediate Cost-Savings

Eco-friendly choices like LED lighting and Energy Star appliances don’t require much electricity to run. That means lower utility bills for renters, whose wallets have also been suffering through this prolonged economic downturn. Renters who know how much money they’ll save on heating costs with upgraded insulation or windows are also more likely to support sustainability efforts when their homes become temporary construction zones. They’ll spread the word about how much they’re saving; they just need property managers to let them know how much that will be while the work is in progress. Use one of the government’s handy energy calculators to let residents know how much money they’ll be saving.

Technology is Key for Green Marketing

Communicating with residents through technology channels is a great way to educate them when it comes to sustainability initiatives. Use video to engage them via Facebook Live, resident portal webcasts, Twitter, and even simple text messages. For the more results-oriented clientele, smartphones equipped with thermostat-control apps like Nest or apps that allow them to monitor solar panel energy production will help them buy into those eco-friendly community upgrades.

Build Community with Sustainability Initiatives

Encourage residents to learn more about and use the apps and digital environmental tools that support your property’s sustainability goals. A curbside recycling program, community composting, and even an electric vehicle charging station can speak to management’s dedication to eco-friendly initiatives. Regular communication from management, as well as within the community—using recycling challenges and suggestion boxes, for instance—will keep renters engaged and proud to live in a sustainable community.

Hire Experts

Of course, it always helps if you have a property management team in your corner who knows not only how to build such initiatives, but also communicate them to your tenants. Our professionals are at-the-ready. Call us today at 817-284-1411 or send an email to info@classamgmt.com.