Colorado Rental Housing Journal October 2014

8
By Marc Courtenay R esidents are on the prowl again looking for the most at- tractive rental units for their money. At the same time there is a growing group of former homeown- ers who are back in the rental market. The monthly rent these groups are willing to pay will partially depend on the condition of the rental properties. If they have a choice, they’ll go with the property that impresses them the most. This is especially true with the baby boomer generation, those born between 1946 and 1964. This demo- graphic is looking for places to live that feel secure, feel like home and appeals to aesthetics. So to compete effectively and eco- nomically, property managers are “turning up their imaginations” to make their properties more desir- able. Here are four economical ideas to consider: First impressions mean a lot. Remove old or tattered window cov- erings and replace them with inex- pensive Venetian-style blinds. Choose neutral colors and models that are easy to replace. While you’re at it make sure the windows are clean, with sills that are sparkling. Replace the knobs and handles in the kitchen cabinets if possible. Any qualitative touches you can add to your kitchens including sufficient lighting will make your rental feel Professional Publishing, Inc PO Box 30327 Portland, OR 97294-3327 Current Resident or PRSRT STD US Postage PAID Snohomish, WA Permit #5 Advertise in Rental Housing Journal Colorado Circulated to over 6,000 Apartment owners, On-site, and Maintenance personnel monthly. Call 503-221-1260 for more info. October 2014 - Vol. 6 Issue 10 Rental Housing Journal Colorado DENVER • COLORADO SPRINGS • BOULDER MONTHLY CIRCULATION TO MORE THAN 7,000 APARTMENT OWNERS, PROPERTY MANAGERS, ON-SITE & MAINTENANCE PERSONNEL www.rentalhousingjournal.com • Professional Publishing, Inc 2. Not Screening Tenants? You May Attract the Industry’s Cast-off Renters 3. Dear Maintenance Men 4. Three Important Steps for Building Property Management Compensation Plans 6. Shoptalk continued on page 5 www.rentalhousingjournal.com T he future of the rental prop- erty market is not distant. It is here, and it is unlike any- thing we’ve ever seen. The Internet of Things (IoT), or the connectivity of smart devices that share data with the outside world, is paving this ex- citing future. From smart thermo- stats to smart door locks, these new inventions are gaining ground and excitement rapidly. In this article, we will share a vision of the future using smart devices within the rental prop- erty market. As with any change there are those that will disagree with or fear the new direction in the property management process. Our goal is to prove that these new technologies should not be feared, but embraced for their potential of earning extra profit as well as simplifying the management of properties. To show this, we will describe a day in the life of an IoT property including the property owner, leasing agents, ten- ants, and maintenance personnel. The leasing process begins with the leasing agent showing the poten- tial tenants a unit for rent. The leas- ing agent, while showing the prop- erty, introduces the potential tenant to the devices making up the smart device package. The leasing agent describes how the smart thermostat, smoke alarm, door lock, air monitors and lights can be controlled from the tenants’ smart phone, tablet, or com- By Marsha Friedman S mall businesses have made a huge recovery since the eco- nomic crash in 2008 and that’s good news for all of us. Since we ac- count for 63 percent of new jobs, our success puts people back to work. That, in turn, helps us even more – people with paychecks buy stuff! And here’s more good news: Women are launching more busi- nesses than ever – 1,288 a day, according to a recent analysis by American Express. That’s up from 602 in 2011-12. Since 1997, women- owned businesses rose by 68 percent. As a female entrepreneur who will soon celebrate my company’s 25th anniversary, I’m well aware of the challenges these brave new CEOs face. I’m not exaggerating when I use the word “brave.” My experi- ences have taught me that courage is essential to launching and growing a successful business – particularly if you’re a woman. Why? Because we tend to be more risk adverse than men. We worry more about financial security and losing it all. Making the right decisions requires overcoming those fears. Courage is one of what I call my 5 C’s for building a business. They’re the guiding principles I’ve learned through the ups and downs and all the mistakes. If I rely on the C’s as a sort of compass, I find I can always ...continued on page 2 ...continued on page 6 How the Internet of Things will Simplify & Increase Profits in the Rental Housing Industry Four Low Cost Ways to Improve the Properties You Manage For All Those New Female Entrepreneurs: The 5 C’s for Building a Successful Business

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RHJ is the business journal for the Colorado multifamily and residential property management industry.

Transcript of Colorado Rental Housing Journal October 2014

Page 1: Colorado Rental Housing Journal  October 2014

By Marc Courtenay

Residents are on the prowl again looking for the most at-tractive rental units for their

money. At the same time there is a growing group of former homeown-ers who are back in the rental market.

The monthly rent these groups are willing to pay will partially depend on the condition of the rental properties. If they have a choice, they’ll go with the property that impresses them the most.

This is especially true with the baby boomer generation, those born between 1946 and 1964. This demo-graphic is looking for places to live that feel secure, feel like home and appeals to aesthetics.

So to compete effectively and eco-nomically, property managers are “turning up their imaginations” to make their properties more desir-able. Here are four economical ideas to consider:

First impressions mean a lot. Remove old or tattered window cov-erings and replace them with inex-pensive Venetian-style blinds. Choose neutral colors and models that are easy to replace. While you’re at it make sure the windows are clean, with sills that are sparkling.

Replace the knobs and handles in the kitchen cabinets if possible. Any qualitative touches you can add to your kitchens including sufficient lighting will make your rental feel

Professional Publishing, IncPO Box 30327Portland, OR 97294-3327 Current Resident or

PRSRT STDUS Postage

PAIDSnohomish, WA

Permit #5

Advertise in Rental Housing Journal Colorado Circulated to over 6,000 Apartment owners, On-site, and

Maintenance personnel monthly.

Call 503-221-1260 for more info.

October 2014 - Vol. 6 Issue 10Rental Housing Journal Colorado

DENVER • COLORADO SPRINGS • BOULDER

Monthly CirCulation to More than 7,000 apartMent owners, property Managers, on-site & MaintenanCe personnel

www.rentalhousingjournal.com • Professional Publishing, Inc

2. Not Screening Tenants? You May Attract the Industry’s Cast-off Renters 3. Dear Maintenance Men

4. Three Important Steps for Building Property Management Compensation Plans6. Shoptalk

continued on page 5

www.rentalhousingjournal .com

The future of the rental prop-erty market is not distant. It is here, and it is unlike any-

thing we’ve ever seen. The Internet of Things (IoT), or the connectivity of smart devices that share data with the outside world, is paving this ex-citing future. From smart thermo-stats to smart door locks, these new inventions are gaining ground and excitement rapidly. In this article, we will share a vision of the future using smart devices within the rental prop-

erty market. As with any change there are

those that will disagree with or fear the new direction in the property management process. Our goal is to prove that these new technologies should not be feared, but embraced for their potential of earning extra profit as well as simplifying the management of properties. To show this, we will describe a day in the life of an IoT property including the property owner, leasing agents, ten-

ants, and maintenance personnel. The leasing process begins with

the leasing agent showing the poten-tial tenants a unit for rent. The leas-ing agent, while showing the prop-erty, introduces the potential tenant to the devices making up the smart device package. The leasing agent describes how the smart thermostat, smoke alarm, door lock, air monitors and lights can be controlled from the tenants’ smart phone, tablet, or com-

By Marsha Friedman

Small businesses have made a huge recovery since the eco-nomic crash in 2008 and that’s

good news for all of us. Since we ac-count for 63 percent of new jobs, our success puts people back to work. That, in turn, helps us even more – people with paychecks buy stuff!

And here’s more good news: Women are launching more busi-nesses than ever – 1,288 a day, according to a recent analysis by American Express. That’s up from 602 in 2011-12. Since 1997, women-owned businesses rose by 68 percent.

As a female entrepreneur who will soon celebrate my company’s 25th anniversary, I’m well aware of the challenges these brave new CEOs face. I’m not exaggerating when I use the word “brave.” My experi-ences have taught me that courage is essential to launching and growing a successful business – particularly if you’re a woman. Why? Because we tend to be more risk adverse than men. We worry more about financial

security and losing it all. Making the right decisions requires overcoming those fears.

Courage is one of what I call my 5 C’s for building a business. They’re

the guiding principles I’ve learned through the ups and downs and all the mistakes. If I rely on the C’s as a sort of compass, I find I can always

...continued on page 2

...continued on page 6

How the Internet of Things will Simplify & Increase Profits in the

Rental Housing Industry

Four Low Cost Ways to

Improve the Properties

You Manage

For All Those New Female Entrepreneurs:

The 5 C’s for Building a Successful Business

Page 2: Colorado Rental Housing Journal  October 2014

Rental Housing journal Colorado • October 20142

RENTAL HOUSING JOURNAL COLORADO

2

Not Screening Tenants? You May Attract the Industry’s Cast-off Renters Most do-it-yourself (DIY)

landlords, individuals who manage their rental prop-

erties without assistance from prop-erty management companies, don’t properly screen prospective tenants. That’s according to a survey on land-lord habits conducted on behalf of Real Property Management by an independent Boston-based research firm, Liminality Inc. The survey, which included a na-tional probability sample of more than 150 DIY landlords nationwide, revealed:

Only 51% of DIY landlords conduct criminal background checks

23% of DIY landlords sometimes or never conduct credit checks

Only 51% of DIY landlords contact past landlords for references

This oversight can create many problems and headaches for the landlord down the road, such as late rent, damage to the property and evictions. Perhaps even more troubling is that DIY landlords with lenient or non-existent screening policies actually attract the indus-

try’s cast-off renters. That’s because diligent landlords and reputable property management companies essentially weed out un-desirable tenants with their screen-ing policies. When criminals learn their backgrounds will be checked, they turn to a property owner who is not so meticulous.Why would DIY landlords put their property investment in potential harm’s way by not thoroughly conducting background checks? A common problem many DIY land-lords face is not having the essential resources or knowledge for properly managing their rental property. Understanding the many tenant-landlord laws, Fair Housing Regula-tions and guidelines, knowing what questions to ask and not to ask a potential tenant and where to go to perform criminal background and credit checks can be overwhelming for any landlord.However, when landlords who don’t screen tenants combine the inherent risks in renting with the thought that their applicant pool may have a higher percentage of

criminals than the industry, it be-comes clear that incorporating stan-dard background checks is a must. If landlords cannot implement thorough screening procedures themselves, then it behooves them to hire a property management firm. These professional companies have policies in place to conduct rigorous background screenings on behalf of their property-owning custom-ers, which includes credit, employ-ment, rental history, criminal and sexual offender checks. This means landlords can rest easy and collect their return on investment without

worrying about what baggage their tenants may bring into their proper-ties.

Don Lawby is the president of Real Property Management, the leading

rental property management franchise. He has more than 40 years’ experience in the real estate industry and he holds

the honor of being named to the Swane-poel Power 200: The Most Powerful

People in Residential Real Estate.

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Page 3: Colorado Rental Housing Journal  October 2014

Rental Housing journal Colorado • October 2014 3

RENTAL HOUSING JOURNAL COLORADO

Dear Maintenance Men:

I understand mov-ing in a new resident

from the management’s point of view. What do you recommend as a move-in procedure from a maintenance back-ground? I always worry about handing over a set of keys to a new resident who will now have control of a very expensive rental unit. What should I be thinking about maintenance wise for this new move-in?

Tom

Dear Tom:Interesting question! It’s true we

sometimes think the move-in proce-dure is complete once the resident passes all the background checks, pays their money, signs all the paper-work and is given the keys to the unit. We believe that the move-in proce-dure is far from complete if the new resident is not “Checked-out” on the operation of the rental unit. A major source of maintenance issues and costs come from a new resident not knowing how to safely operate the moving parts of their unit. A short list of items that a resident may or may not know how to operate are as fol-lows:

1. Garbage disposal unit.

2. Vertical and horizontal blinds.

3. Dishwashing machine.

4. HVAC system or heating and cooling systems.

5. And anything else that could break or be a safety issue.Many of you might be saying to

yourselves; “Who does not know how to operate any of those items.” You would be surprised! Top of the list of most abused items are garbage disposal units and blinds.

Dear Maintenance Men:I have heard the terms “Proactive and

Reactive” in connection with property maintenance. Can you explain the differ-ence as it relates to apartment mainte-nance?

Richard

Dear Richard:We’ll start with the definitions first

and then how they relate to property maintenance.

Proactive: Acting in anticipation of future problems, needs or changes.

Reactive: Done in response to a problem or situation: reacting to prob-lems when they occur instead of doing something to prevent them.

How you deal with property main-tenance can make a big difference to the bottom line.

A proactive approach allows you to make all the decisions ahead of time. In a proactive situation you will have time to shop for the best price and dictate the schedule of the work. As an example: 1: Snaking or hydro-jetting the main sewer line before the

Thanksgiving holiday removing any buildup or roots in the pipes. 2: trim-ming trees and overhanging branches before a wet winter storm.

A reactive approach removes all control of the situation. You will have little influence over the cost of the work or when it will take place. As an example: 1: Calling out the plumber ...

By Jerry L'Ecuyer & Frank AlvarezDear Maintenance Men:

continued on back cover

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The statements and representations made in advertising and news articles contained in this publication are those of the advertiser and authors and as such do not necessarily reflect the views or opinions of Professional Publishing, Inc. The inclusion of advertising in this publications does not, in any way, com-port an endorsement of or support for the products or services offered. Metro Apartment Manager is produced monthly and is published by Professional Pub-lishing Inc. PO Box 6244 Beaverton, OR 97007. (503) 221-1260 - (800) 398-6751 © 2014 All rights reserved.

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Page 4: Colorado Rental Housing Journal  October 2014

Rental Housing journal Colorado • October 20144

RENTAL HOUSING JOURNAL COLORADO

According to a recent survey by Matrix Information, three billion people around the

globe have access to Internet-based services and E-mail. In addition, this report expects electronic commerce to grow from $3.2 trillion in 2013 to $6.2 trillion by the year 2015. Is your property management company ready for these exploding communi-cation and marketing trends? Is your leasing team ready to handle the E-mail just sent by 15 new prospects re-locating from Paris or Moscow? Read the tips in this article and learn how easy it is to master E-mail and profit from it…it’s just a few keystrokes away!

Tips for using E-mail with prospective new residents:

Ask your leasing teams to always use spell check before sending an E-mail to a future resident

• Have your teams read each E-mail twice before they send it, just to make certain it conveys exactly what they are trying to commu-nicate and it portrays the profes-sional image important to your

property management company

• When sending an E-mail, the sub-ject line must clearly summarize what the body of the E-mail says

• If your leasing teams are using the E-mail “reply” feature to respond to a future resident, make certain they reply by including the infor-mation the prospect sent in their original E-mail note. In addition, ask your leasing teams to include the name of the future resident throughout their E-mail reply.

Tips for using E-mail within your property management company: When your leasing teams are using E-mail to communicate internally, make certain they understand when to respond by E-mail and when to call the person who sent the original E-mail, depending on the tone or content of the E-mail

• Explain to your leasing teams how and when to use carbon copy {cc} and blind carbon copy {bcc} with E-mail

• Have a written company policy regarding the use of E-mail, clear-

ly outlining the rules and expecta-tions of your company. Have this document signed by each person who will be accessing your E-mail software

• Explain to your leasing teams that deleting an E-mail does not remove it from their computer system nor from the system of the person the E-mail was sent to. During several recent lawsuits, damaging E-mails that had been deleted were used in the courtroom to the surprise of the individuals and their property management companies

• Instruct your leasing teams about the extra care required if they re-ceive an E-mail that has an at-tached document, as this is where most computer viruses are hid-den. Many property management companies do not let their leasing teams send or open attached files

• E-mail files can easily be opened and read so confidential informa-tion like salaries, financial reports, social security numbers or credit card numbers should not be sent by E-mail.

Tips for using E-mail as a marketing tool:

E-mail can also be used as a pow-erful marketing tool to attract new residents or to better service your ex-isting residents. Here are some tips: Aside from a small $15-$20 service charge per month, sending or receiv-ing E-mail is free. When compared to other forms of marketing…hav-ing your leasing teams send E-mails to new or existing residents is their least expensive form of marketing

• Imagine the marketing success your leasing teams will have if they had the E-mail address on the guest card of every future resident who visited their apartment com-munity over the past 12 months…and your leasing teams can stay in touch with these potential new residents for free!

• When your properties are using E-mail to handle resident questions or maintenance requests, a timely response is expected and required

continued on page 7

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Rental Housing journal Colorado • October 2014 5

RENTAL HOUSING JOURNAL COLORADO

more like home.Install portable “odor-eating” air

purifiers. If your rental units smell clean, prospective residents will notice. You can also buy some inex-pensive plug-in room deodorizers which create the ambiance you think pleases the nose. Stage the kitchen counters with flowers for a decora-tive touch.

While we’re on the olfactory topic, make sure the inside of the refrigerator is extra clean and smells

great. You can add to the appeal by placing some fresh-baked cookies inside the refrigerator. Offer one to your prospect so they will remember how kind and considerate you were.

As I’ve stressed in past articles on this subject, colorful landscaping strategically placed around your building speak volumes to excep-tionally attractive prospects. Often folks who appreciate beauty make reliable residents.

Property managers would be

wise to leave a lasting impression on everyone who comes to look at a vacant property. One way is to have an attractive, color sheet with a list of all the advantages of being a resi-dent at the property you manage.

Don’t be afraid to add creative touches. Something as inexpensive as replacing the shower curtains, cleaning the counters so they spar-kle, or adding different light bulbs may brighten the interior and indi-rectly remind the prospective resi-

dent that your property is livable and cozy.

As property managers, we have to be imaginative when reaching out to potential residents. If we also remember to be friendly and courte-ous, we will brighten their day and leave a positive memory about your property.

Four Ways ..continued from front page

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puter. The leasing agent then gives them a brief demonstration using their iPad by controlling the devices in the apartment. The leasing agent will share with the potential tenant that they can have access to all these devices for a fixed monthly fee of $20.00 per month. If the tenant chooses not to sign up for the smart device package, the thermostat and the other devices will act like normal smoke alarms, thermostats etc. However, it is explained that by using the Nest Thermostat along with the other smart devices, their electricity bill can be reduced, there-fore paying for the package itself.

Once the leasing agent has signed up the tenant for the package, they will use their property management software to create the username for all the smart devices in the apart-ment. An email will be sent to the

tenant that includes the username along with details on how to down-load and use the software. Links with online tutorials will also be pro-vided in the email.

By using their provided username and password, the tenant downloads the software to their smart phone/tablet, watches the online tutorials, and starts utilizing their smart devic-es.

As smart devices are installed they provide a treasure trove of data that maintenance personnel along with property managers can monitor and analyze. As an example, in-house software is used to monitor the data collected from smoke alarms, humidity detection devices, thermostats, air monitoring and door monitoring devices. If anything is out of the ordinary, such as humidity being high in a unit, or a door being

open for too long, the maintenance personnel is sent a text describing which unit the issue is coming from. They are also alerted when it is time to replace the batteries in the smoke alarms.

As the owner of a rental property, these smart devices, or Internet of Things, provide an opportunity to increase revenue as well as detect issues early that might be happening within the apartment complex. It also increases the potential of attract-ing a high-end tenant looking to use these types of technologies.

As different types of smart devic-es are manufactured they can be integrated into the existing packages and software of the property. They can also be tailored to specific prob-lems that certain properties are expe-riencing.

Because of the Internet of Things,

the future of the rental housing mar-ket, will be impressive, as exempli-fied in this article. We, at JDI, are excited to be a part of this future. As we progress in learning more about the Internet of Things as it pertains to properties, we will keep you updated on our findings. We’re excit-ed, and we hope you are too.

By Michael Schreiber and Leila Ettachfini. Michael and Leila are part-

ners in JDI, a software development and consulting company specializing in IoT devices for the rental housing industry.

Michael can be reached at (303-513-9995) and [email protected]. Leila

can be reached at [email protected]. Visit http://www.JDIapps.com for more

information.

The Internet of Things ..continued from front page

Page 6: Colorado Rental Housing Journal  October 2014

Rental Housing journal Colorado • October 20146

RENTAL HOUSING JOURNAL COLORADO

Entrepreneurs ..continued from front page

Every apartment community has a “reputation” in the mar-ketplace. What your commu-

nity is known for is based upon a variety of factors, some of which are beyond your control; like its location and layout of the apartments. Yet, there are certain factors in which you have some measure of control; your management style, for instance, and resident profile. However, sometimes the longer a staff has been working at a community the harder it is to be objective. While long term employ-ees can bring stability and consis-tency to a community, there can be a subtle tendency for the on site staff to try and lease to only those people who they believe will “fit in,” so as not to upset the “status quo.” Here is a concern that illustrates this point:

Q: I have been the resident manager at the same community for over 10 years, and have worked very hard to establish a quality clientele. I am now in a situation where I have more vacancies than I have had in

quite a while, but with fewer pro-spective renters who match the demographics of my existing resi-dents. I am concerned that if I start renting to everyone who comes through the door, that this will upset my current residents and that I’ll have even more vacant apartments. What can I do?

A: First of all, I applaud you for

your longevity in the business, espe-cially as an on site manger! Your residents undoubtedly appreciate you and all your efforts to create a quality environment for them. However, why would you limit such an outstanding community to just a few people who you are “hand pick-ing” to live there? Not only is this practice obviously affecting your leasing ratio, it is a Fair Housing vio-lation! You do not have to rent to “everyone who comes through your door.” Yet, you do have to rent to everyone who “qualifies” based upon certain criteria established by your screening company. Your cur-

rent method of leasing may be doing more harm than just jeopardizing the occupancy of your building: Should a complaint be lodged against your community, there is the possibility that you, your employer and also the building owner could be sued for discrimination.

By renting to all types of people no matter their family or marital sta-tus, their race, religion, age, etc., you will be in complete compliance with the Fair Housing Act, AND you will create the type of diverse communi-ty where everyone feels welcome and wanted.

Remember: a quality community + satisfied residents = higher occu-pancy

If you have a question or concern you would like to see addressed next

month or if you would like to inquire about leasing train-

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guide us back to smoother waters.What are the C’s?

CaringIt starts with caring enough about

yourself and your dreams to stay committed to achieving your goals. (Giving up is never a good option!) You have to care enough about your-self to firmly believe that you deserve success and the good things that come with it.

Just as important is caring about your staff and creating a positive work environment for them. Protect their sanity from the clients who want to chew them up and from new hires who don’t fit in and hurt morale. Be supportive when stressful situations arise in their lives outside of work. And ensure everyone has the knowledge and tools they need to be successful.

None of us gets far at all if we don’t care about our customers. Give them the best exchange possible for their money; define expectations so that they understand the end prod-uct you are delivering and for which they are paying. Be willing to listen to their concerns, take responsibility for mistakes, and correct them.

CourageThirty years ago, I probably

would never have said it takes cour-age to lead a small business, but without it, I assure you, you’ll fail. There are dragons and quicksand and dark woods all around. You’ll find them in the day-to-day prob-lems, the obstacles you didn’t see lying in wait, the risks you must

take, and the stresses involved with honoring your obligations to every-one working with and for you.

Trust me, your courage will grow every time you push your fear behind you and deal with what frightens you. Which will also help you build confidence.

ConfidenceThink of the many challenges

you’ve faced in your life, and the many times you’ve overcome them. Bring that confidence to your busi-ness. Believing that you can reach for and achieve your short- and long-term goals is essential to getting you there.

CompetenceCompetence comes from knowl-

edge and experience. Hone it by staying up on the trends and disrup-tions in your industry. One of the most important roles a CEO plays is as the visionary for his or her com-pany. That means you can’t, and shouldn’t, take on jobs within your company for which you’re not quali-fied. You’ll make yourself miserable and your business will suffer. Hire an accountant to handle the finan-cials. Get marketing help if that’s not your thing.

As for employees, take the time to hire competent people who you’ll trust in their jobs – and then trust them!

CommitmentStay dedicated to your goals no

matter how difficult that becomes. That may mean taking painful mea-

sures, as it did for me after the 9/11 terrorist attacks put the brakes on the economy. There came a point for my business when all hope looked lost. I had to make drastic cuts, including letting go beloved employees. For more than a year, I ramped up mar-keting efforts, diversified our servic-es, and took other steps to get the business out of the red. In 2005, I succeeded – and it has been upward and onward ever since.

Building my business has been one of the most rewarding experi-ences in my life. I get a lot of pleasure from helping our clients meet their goals. I enjoy coming to work and spending time with the team I’m blessed to call part of the family. We laugh loudly and often!

If you’ve recently launched a new business, know that you’ll encounter challenges. Don’t panic! Remember the 5 C’s and forge ahead with car-ing, courage, confidence, compe-tence and commitment.

Marsha Friedman is a 24-year veter-an of the public relations industry. She

is the CEO of EMSI Public Relations (www.emsincorporated.com), a national firm that provides PR strategy and pub-licity services to businesses, professional firms, entertainers and authors. Marsha is the author of Celebritize Yourself and

she can also be heard weekly on her Blog Talk Radio Show, EMSI’s PR Insider every Thursday at 3:00 PM EST. Follow her on Twitter: @mar-

shafriedman.

Page 7: Colorado Rental Housing Journal  October 2014

Rental Housing journal Colorado • October 2014 7

RENTAL HOUSING JOURNAL COLORADO

• Create two separate E-mail lists…one for future residents and one for current residents so you can send appropriate marketing infor-mation to each group

• Create an E-newsletter which can be easily sent out on a weekly or monthly basis. Remember, since sending E-mail is free, your leas-ing teams will have lots more flexibility. In addition, E-newslet-ters portray a professional image about your property manage-ment company and are quick to be passed-along to others, thus expanding the reach and exposure for your marketing

• When sending E-mail, have your leasing teams develop a five to seven line signature which is auto-matically placed at the bottom of every E-mail they send out. This signature line will further pro-mote their apartment community, your corporate website and can be changed on a daily basis, if neces-sary

• Use E-mail to stay in touch with the media in your area, especially if your apartment communities have any exciting events or com-munity projects to announce

• The E-mail address at each of your properties should be included on every business card, every bro-chure, on any sales information and with all print advertising.

Want to hear more about this im-

portant topic or ask some additional questions about how to use E-mail as a powerful marketing tool? Send an E-mail to [email protected] and The Coach will E-mail you a free PowerHour invitation.

Author’s note: Ernest F. Oriente, a business coach/trainer since 1995 [32,320 hours], serving property management in-

dustry professional since 1988--the author of SmartMatch Alliances™, the founder

of PowerHour® [ www.powerhour.com ], the founder of PowerHour SEO [ www.

powerhourseo.com ], the live weekly Pow-erHour Leadership Academy [ www.pow-

erhourleadershipacademy.com/pm ] and Power Insurance & Risk Management

Group [ www.pirmg.com ], has a passion for coaching his clients on executive lead-

ership, hiring and motivating property management SuperStars, traditional and Internet SEO/SEM marketing, competi-

tive sales strategies, and high leverage alliances for property management teams

and their leaders. He provides private and group coaching for property manage-ment companies around North America,

executive recruiting, investment banking, national utility bill auditing, national real estate and apartment building insurance, SEO/SEM web strategies, national WiFi solutions [ www.powerhour.com/proper-tymanagement/nationalwifi.html ], pow-

erful tools for hiring property manage-ment SuperStars and building dynamic

teams, employee policy manuals [ www.powerhour.com/propertymanagement/

employeepolicymanuals.html ] and social media strategic solutions [ http://www.

powerhour.com/propertymanagement/so-cialmedialeadership.html ]. Ernest worked

for Motorola, Primedia and is certified in the Xerox sales methodologies. Recent

interviews and articles have appeared more than 8000+ times in business and trade publications and in a wide variety

of leading magazines and newspapers, including Smart Money, Inc., Business

2.0, The New York Times, Fast Company, The LA Times, Fortune, Business Week,

Self Employed America and The Financial Times. Since 1995, Ernest has written

225+ articles for the property manage-ment industry and created 400+ property management forms, business and market-

ing checklists, sales letters and presenta-tion tools. To subscribe to his free property

management newsletter go to: www.powerhour.com. PowerHour® is based in Olympic-town…Park City, Utah, at 435-615-8486, by E-mail ernest@powerhour.

com or visit their website: www.power-hour.com

The Coach ...continued from page 4

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Page 8: Colorado Rental Housing Journal  October 2014

Rental Housing journal Colorado • October 20148

RENTAL HOUSING JOURNAL COLORADO

Dear Maintenance ...continued from page 3

any plumber on Thursday, Thanksgiving evening to snake out the main line blockage because of sudden overuse by the residents . 2: Emergency roof repair during a wet winter storm due to heavy tree branches breaking or a tree falling.

Residents, who live in a commu-nity that practices proactive mainte-nance stay longer, pay higher rent and take better care of their units and grounds. With a proactive mainte-nance policy in place, residents are more likely to report problems before they become emergencies.

A Proactive maintenance policy will save you money both in the short term and more importantly in the long term. It is a good investment.

Dear Maintenance Men:I would like to find out if I have an

“A”, “B”, “C”, or “D” building. I’m not sure what constitutes an A or D property. Can you shed light on the designations?

Cornell

Dear Cornell:This is really a real estate purchas-

ing question, however we think it will work for maintenance as well. As in most things; “A” is the best and “D” can be seen as the worst. An “A” property will require the most proac-tive maintenance to retain an “A” rating while a “D” property may very rarely see a maintenance tech without direction from code enforcement or the city attorney. Below is a simple example of the A, B, C or D ratings and what they represent.

• New or extremely well taken care of property with top notch amenities in the best areas.

• Newer property that may be slightly dated, but well taken care of in a good area.

• Older property, clean, middle of the road building with limited

amenities in a fair area.

• Older property, no or few amenities, basic design, could be run down and often in a bad area.

Please call: Buffalo Maintenance, Inc for maintenance work or consultation.

JLE Property Management, Inc for management service or consultation

Frankie Alvarez at 714 956-8371 Jerry L’Ecuyer at 714 778-0480

CA contractor lic: #797645, EPA Real Estate lic. #: 01460075

Certified Renovation Company Websites: www.BuffaloMaintenance.

com & www.ContactJLE.com www.Facebook.com/

BuffaloMaintenance

The best things in life are freeNational Tenant Network’s Free iPad App can provide you with secure applicant screening, literally at your � ngertips. Enjoy the same great service, rigorous screening and realiability that NTN offers through NTNonline.com with this convenient App.

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REAL ESTATE INVESTING MADE REAL EASYWould you like to:Own more Rentals?Buy your 1st Rental unit?Dispose of units that are a headache?

Call for a free spreadsheet analysis of your current properties or units you are interested in purchasing.

Robbie Pepper CCIM, GRI, CRS, e-PROA Better Way [email protected]

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