Rental Housing Journal Valley July 2016

Page 1

Rental Housing Journal Valley

July 2016

3. Tips for Taking Better Photos When Marketing Your Property 4. Ask the Secret Shopper – Appropriate Appearance

5. Dear Maintenance Men – Mold, Flush Valve Seats and Preventative Maintenance for Heaters and Air Conditioners

EUGENE · SALEM ·ALBANY · CORVALLIS WWW.RENTALHOUSINGJOURNAL.COM • PROFESSIONAL PUBLISHING, INC

Single Best You May Want to Rethink That Way for Lease Renewal if You are Property Planning to Sell Your Small Plex Managers to get Promoted I What is the Single Biggest Secret to Being Promoted From Property Manager to Regional Manager, Vice President or CEO?

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s EVP at MultiFamily Traffic, I have worked with thousands of property managers, regional managers, marketing managers, CEO’s etc. I have seen them come and I have seen them go. Recently my friends at Rental Housing Journal asked me what the number one trend is in our industry is. My answer is this, management companies are desperate for rock-star talent and when they find it they will promote that person as high as they possibly can. So, what is the secret to being promoted in our industry? The answer may surprise you, it’s not hard work and it’s not who you know. It’s all about how well you can manage the asset and how profitable you can make it. If you can outperform the other managers in terms of leases and lowering occupancy rates and show leadership your abilities are scalable, get ready for an amazing career, you are now in line to be CEO. So let’s breakdown what it means to get leases, increase revenue and scale. Let me start by telling you what it is not.

f you haven’t raised your rents already, I’m sure the rent increase notices are in the mail. I’m also sure that some of you have tenants that you can’t wait for their leases to end so you can move their rents up to market levels. However, before you sign any new lease agreements you need to make sure you are not planning on selling first. Rising rents have caused small plex (2-4 units) property values to increase significantly over the past several months prompting many owners to sell and exchange into larger multifamily properties or different asset classes. If you are considering a disposition, here are a couple things you need to be aware of: 1. Locking your tenant into a lease is also locking the value of your property into place. If you sign a one year lease at less than market rents you are

property at proforma values. The better plan of action is to leave them on

continued on page 8

Make Your Units Spacious and Cohesive With New Flooring By Mark Voykovic, Division Merchandise Manager, Flooring, The Home Depot

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s the apartment industry continues to see growth, tenants are looking for the best amenities and value in properties, putting pressure on property managers to keep units looking modern. Flooring is often crucial to impressing potential tenants. New technology in vinyl, laminate, tile and wood offers more options for property managers, often at affordable costs, allowing you to generate a great return on investment.

Vinyl

Historically a good option for projects with smaller budgets, new advancements in vinyl give floors a unique, high-end

continued on page 6 Professional Publishing Inc., PO Box 6244 Beaverton, OR 97007

asking a potential buyer to take on your existing tenants for a guaranteed period of time. It is not appealing to investors to buy an underperforming

continued on page 8 PRSRT STD US Postage PAID Portland, OR Permit #5460

Text REALESTATE-ROI to 44222 to receive a digital copy of this year's Real Estate Opportunities in Investing (ROI) Finding Investing Success in Today's Housing Market


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