property managers

As a property manager, you’re always looking for new ways to attract potential tenants. These days, you can add up-to-the-minute deals and specials to your property’s website, but those depend on folks actually visiting your website. And with all of the web traffic out there, it’s hard to maneuver your way to the top.

So most property managers rely on the tried-and-true methods of using signs, balloons, and colorful banners to attract the attention of walkers- and drivers-by. But does all of that actually work?

Some property managers swear by it and believe that if every other property has balloons, then balloons on your property are a must as well. To not use anything would be the equivalent of a motel having a NO VACANCY sign lit when there are plenty of empty rooms.

So then if everyone is employing the same methods, how do you make your property stand out? Well, one way is to think about balloon colors. Most companies choose balloons that mirror the company colors, but consider this:

• BLUE slows the heart rate and reduces blood pressure.
• RED increases blood pressure and motor-skills activities.
• YELLOW increases cardiopulmonary activity and is considered very exciting
• GREEN is a well balanced color, good for contemplation and a restful state.
• PURPLE speaks to the intellect and is considered a very cerebral color, good for inner thought.

So perhaps choosing a balloon color based on these notions might have a different effect.

Also, signs and banners that simply state availability or special deals tend to blend into the background and rarely get noticed. In this day and age, cleverness and wit are much more likely to elicit a response, so keep that in mind as you’re having your signs made.

And finally, decorations that both welcome new visitors and tie in with a major holiday, say Halloween or Christmas, tell the world that not only are you a property with vacancies, but that you’re also fun!

Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!

A recurring theme in this blog is how busy property managers are in the day-to-day. There’s never a moment when there’s simply nothing to be done, so a typical property manager’s day ranges from somewhat crazy to completely crazy. Of course, the smart property manager uses property management software to make his or her life a whole lot easier.

One of the most important duties of a property manager is to bring in new residents. There are almost always vacancies for one reason or another, and the longer those units sit unoccupied, the more money they end up costing.

But once a tenant signs on the dotted line, it’s crucial to make them feel welcome. Naturally, they’re going to be excited about moving into a new place, but as a property manager, you can make sure that the move-in experience is as seamless and stress-free as possible.

One way to do this is with welcome letters or welcome packages. Some property managers leave a folder stuffed with maps, coupons, lists of phone numbers, rules and regulations, and so on. This can be somewhat off-putting, as it can feel overwhelming to a person who’s already overwhelmed with a move. Sometimes less is more, and a simple welcome letter is sufficient.

A welcome letter should be upbeat and cheerful, and if possible, customized for that specific tenant. It should have the property manager’s name and contact information and encourage the new tenant to call or e-mail with any questions or concerns. Keeping it simple and easy increases the likelihood that the tenant will read it, and that they’ll feel important and like a part of the community.

If you don’t currently use a welcome letter, you should consider one. And if you do, look it over to make sure that if you were the new resident, it would make you feel right at home.

Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!

All across the country, the demand for luxury condos is on the rise, and developers are eager to tap into this lucrative new market. What defines a luxury condo? It varies from property to property, but generally speaking, luxury condos include the following:

• Plenty of living space
• Pools
• Full gyms with fitness classes
• Concierge service
• High-end appliances
• Professional landscaping
• Local memberships and other perks

Buyers are increasingly choosing condos over single-family homes, and one of the reasons is that they can get so much more for their money in a luxury condo, and they don’t have to mow the grass. Also, with brand-new pools and gyms with the latest equipment, residents can save money by giving up expensive gym memberships in favor or working out at home.

So what does all this mean for property management companies? It means it’s time to step up their game. If residents are paying to not have to lift a finger and live a pampered lifestyle, they’re going to expect preferential treatment from their property managers.

Forward-thinking property managers will start coming up with strategies to position themselves as the go-to companies for luxury condos, and be able to capitalize on this growing trend.

Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!

The Sperry Van Ness International Corporation has released the top five learnings from a recently conducted survey of property management executives. The survey was seeking the “Top 5 Things That Keep Property Management Executives Up At Night.” A summary is below.

1. Not having a good pipeline for future business.

Successful property managers need to develop a system for keeping the pipeline full in both good and bad markets, which means expanding their networks beyond their current relationships.

2. Lacking referrals for new business.

Getting referrals requires networking, and networking takes time. But networking with no credibility won’t yield worthwhile results. Successful companies will build and maintain relationships, and have a visible track record and an online presence.

3. Not being considered a preferred provider for larger or institutional landlords.

Institutional owners  make decisions at headquarters that may be in an entirely different city or state, believe that a national company is a safer choice, desire a single point of contact, and can perceive that an independent firm only handles a certain property type.

4. Not having access to larger or institutional landlords.

Unfortunately, this is a major hurdle for most independent and local property management companies. It takes an investment of time and money to get on institutional owners’ radar. If the owner is not local, you have to go to them or meet them at industry conferences.

5. A lack of marketing.

With small staffs and tight margins, property management companies don’t have a lot of time and money to invest in marketing. So the only real options are to invest in the future of the company and hire someone, or find time for an existing employee to contribute to marketing and business development.

Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!

Property managers often wonder if they need to carry their own insurance. Even though many property owners have their property managers listed as an “also insured,” the answer still is a resounding “yes”!

We live in a litigious society, and professionals need to protect themselves with insurance that covers their property and protects them from general liability and professional exposure.

Tenant discrimination cases are on the rise, courts tend to hold property managers to a high standard of care, and employment-related claims are being brought against property managers in increasingly higher numbers. Property managers can not only be sued by their own employees, but by staff members employed by the property owner, like maintenance staff.

While the also insured designation protects property managers from exposures at the location they manage, they need to be covered for injury and property damage at their own office, where the property owner’s coverage won’t reach.

Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!