Don’t Forget, Wednesday, August 12 is Apartment Onsite Teams Day


Author: Bob Pinnegar, President & CEO/NATIONAL APARTMENT ASSOCIATION


In this edition of NAAEI’s Apartment Jobs Snapshot, job openings in the apartment industry comprised nearly 44.0 percent of positions available in the real estate sector, well above the 5-year average of 31.5 percent. Property manager positions were the most sought after, as they play a critical role in ensuring that all COVID-19 safety precautions are in effect. Dallas, Los Angeles, Atlanta, Washington, DC, and Seattle ranked highest for apartment job demand. Leasing momentum for student housing is increasing as most universities will open to on-campus classes, resulting in high demand for leasing consultants.

To thank our onsite teams, we are designating Wednesday, August 12 as Apartment Onsite Teams Day. This idea is spearheaded by Marcia Bollinger, Senior Vice President, CoStar; Kirk Downey, Chairman, National Suppliers Council; and Mike Mini, President, Affiliate Executives Council. In this vein, we need your help in recognizing your local onsite teams to give them the attention they deserve. Please contact your local affiliate and/or local product/service council to see how you can help. They have been equipped with ideas and suggestions to not only celebrate the staff onsite but spread the word on social media using the hashtag #APTeamsDay and within their cities and towns.

We hope you will join us in promoting all the amazing work of our industry’s onsite teams. Their dedication and commitment have been amazing and they deserve a thanks from all of us.

2020 Q2 Apartment Jobs Snapshot


Despite the uncertainty and economic damage caused by the COVID-19 pandemic, apartment hiring stood resilient during Q2 2020.


In this edition of NAAEI’s Apartment Jobs Snapshot, job openings in the apartment industry comprised nearly 44.0 percent of positions available in the real estate sector, well above the 5-year average of 31.5 percent. Property manager positions were the most sought after, as they play a critical role in ensuring that all COVID-19 safety precautions are in effect. Dallas, Los Angeles, Atlanta, Washington, DC, and Seattle ranked highest for apartment job demand. Leasing momentum for student housing is increasing as most universities will open to on-campus classes, resulting in high demand for leasing consultants.



Rent is due – the COVID Response

Every day we hear about businesses, restaurants, and properties completely turned upside down from the global pandemic. Every day ourselves, we decide where to draw limits, our comfortability with time in public, and with so much unknown, making plans on what to do next. We need some structure somehow, and there are limits to the plans we can make. As I figured out my own finances, spoke to friends and family going in and out of unemployment, I couldn’t help but wonder, how do we create a plan to ensure we make it out to the other side of the mask? Today I’ll be reviewing a strategy for property managers and landlords, to spend time on pieces of the business that leverage the long-term success of their properties. After all, we want to be around as long as possible, and we have renters that need a (safe) place to shelter right now.
               Let’s break down how COVID-19 has affected our tenants. This virus has been reported by the CDC to spread very quickly and easily, with symptoms showing up 14 days after exposure. Employers and businesses have moved to remote work or shut down. So, tenants are staying home more, with work or looking for work. They’re thinking about where to go now that they must pivot in or out of a new industry, how they present themselves during virtual interviews on a computer (with lighting outside of Golden Hour). They’re thinking about what to eat, if they should go out, and ……

Should You Allow Tenants to Have Pets in your Rental Properties?


Should You Allow Tenants to Have Pets in your Rental Properties?

There are lots of variables to consider when determining whether or not you should rent your property to a particular tenant. A bad credit score can tell you a tenant might not pay rent on time. A messy background check can indicate they’ll miss-treat your property or even be a danger to their neighbors. These are obvious red flags and make it easy to disqualify. But what about a prospective tenant’s four-legged friend? Should you allow tenants to have pets in their rental unit?
Some landlords find that their tenants’ pets can cause more trouble than it’s worth. Others claim that by appealing to a niche market and implementing pet fees, the long-term benefits of allowing pets can outweigh any issues that arise. So, what should you do? Ultimately the choice is yours, but here are some pros and cons to help guide your decision:
Overview – Renters with Pets
Americans love their cats and dogs – According to the Insurance Information Institute, 68% of households in the US own pets, totaling nearly 85 million families.  This percentage is even higher among renters, of which 72% owned a pet in 2014. For the most part, landlords have been reluctant to allow pets in their units. Trulia found that in the 25 largest US markets, only 20% allowed cats and 18% allowed small dogs. Large dogs, on the other hand, were accepted by just 4% of their listings.
Why You Should Allow Tenants to Have Pets
Increase your tenant base – Renters with pets make up a significant p……

Urban Protests Begin to Make Mark on Portland Apartment Communities


Urban Protests Begin to Make Mark on Portland Apartment Communities

Violent downtown protesters are beginning to make their mark on apartment operations in Portland.

Wood Partners has one community two blocks from the main protesting area near a federal building and its Managing Director Steve Hallsey says many of the homeless who had lived in that area have relocated to his apartment buildings neighborhood.

“We are seeing more bottles and needles,” Hallsey says. “We’re not seeing violence near our property. But no one at this point is approaching our building’s front-door area. We’ve really ramped up our security with more personnel and a greater camera presence. These protesters are taking the attitude of ‘Let’s torch new construction.’ ”

Wood Partners lost an apartment building in Oakland to fire a few years ago. “It sure had all the signs of arson,” Hallsey says. “We have to be cautious; it’s very worrisome.”

Hallsey has three other apartment buildings under construction in downtown Portland.

He says incidents of residents moving out of urban apartment communities in markets that are seeing rising downtown protests and violence are mostly anecdotal at this point.

“Are they leaving because of what seems like an unsafe environment?” Hallsey says. “It sure seems that way. When you look at the increase in available studio apartments in some of our communities, you can see how some young professionals might be thinking, ‘This is not for me’ and they look to move out.”

Increase Renewals with Pet Inclusive Practices


Increase Renewals with Pet Inclusive Practices

The COVID-19 pandemic created unprecedented challenges with lease renewals for the apartment industry. One of the lasting impacts will be the pausing of renewal rate increases.
Recent data from Entrata indicates that renewals have been on a trending decline. As of July 8, renewal have slowed to 44% down 14 percent year over year and 11 percent since May. 
With renewal rates declining, now is the time for apartment operators to look for new ways to deploy innovative renewal offers. One innovative technique forward-thinking operators are implementing is easing pet restrictions. 
On the surface, this change might seem minor. But, easing pet restrictions can have a big impact on demand for apartment housing. As more residents are looking for pets to give them company while spending more time at home, they’re also looking for pet-friendly housing for whatever pet they want to adopt.
According to research from the Pet Inclusive Housing Initiative, a research and resource development initiative that promotes access to the joy of pets, residents in pet-friendly units stay 21% longer versus non-pet friendly units. With the far-reaching impacts of the pandemic, more residents are submitting assistance animal accommodation requests for emotional support animals. By reducing pet restrictions, residents know the pet they adopt can live at the apartment without special designations. And most studies show they’re willing to pay pet deposits and rent. 
But reducing pet restrictions isn’t the only innovative way to leverage your pet-friendly community to improve renewal rates. There are several more:
Communicate Pet Policies 
When ……

Anonymous vs. Confidential Surveys – What’s the Difference and Why it Matters

 
        I am a whole-hearted believer in the power of employee feedback to help companies understand their team members’ collective experience. It allows leaders to gain clarity on what’s working well and what is getting in the way of employee engagement and overall business performance.
Employee feedback is only valuable, however, if employees feel comfortable and safe in providing their candid thoughts and experiences and believe their input will influence positive change. The most common ways of providing this level of assurance is to conduct anonymous or confidential surveys – and yes, there’s a difference!
Anonymous Approach: Pros and Cons
What Defines an Anonymous Survey? An anonymous survey does not include any identifying information, and therefore responses can not be tied back to any individual participant.
Pros: These types of surveys are most often deployed by giving all potential respondents the same survey link, removing any administrative burden from the employer. An employer would simply send one mass email to all employees with one common link.
Cons: Since the survey link is not tied to any particular employee record, a single employee could take the survey multiple times, skewing the response rate as well as the overall results. If trying to gather demographic factors, such as their position, department, or geographic location, there is a higher likelihood of error, whether from user error or a deliberate desire to mask their identity. In addition, research indicates that accuracy can slightly diminish on anonymous surveys. In an act referred……

Using Micro-Targeting to Fill Your Rentals


Using Micro-Targeting to Fill Your Rentals

With the world of advertising seemingly getting turned on its head every month, marketing your properties can be a maddening task, and property managers are reacting in different ways to stay ahead of the game. One phrase that is likely to become a staple in landlord jargon is “micro-targeting,” a growing practice that already has CEO’s heads turning. Landlords and property managers in niche markets are turning to micro-targeting to keep their properties filled year-round, and finding some real success. Although the practice might not be suitable for some, it has already proved a valuable tool for landlords across the Internet.
What is Micro-Targeting?
For landlords, micro-targeting is, in short, finding the right people for your property, and it’s been noted as one of the most important emerging trends in real estate. Whether it’s performed through the evolving mediums of social media and property listing aggregation sites or more old-school landlording methods, micro-targeting allows you to target niche markets and demographics that you think are the most appropriate fit for your properties. Here’s a basic, intuitive example: if you own a property adjacent to a bustling college campus, you’ll likely want your tenants to be college students; they’ll fit into the neighborhood because they’re already a part of the community. You’ll be less likely for them to grumble about the noisy students next door if they’re like-minded students themselves. On the other end, if you have a property next to a large corporate headquarters, trying to get industry professionals into your door could be an apt decis……

Digital Tenant Screening: The Future of the Rental Application

 
 
The evolving economy makes it tricky for property managers to consistently meet occupancy and meet revenue expectations. Digital tenant screening tools can save time and money by improving the application process and decisioning strategies, which benefits applicants and property owners.
 
Establishing digital methods to rate relative risk of your applicants, maintain occupancy, and increase resident quality is the path to a bright future. This is especially important for large organizations in high stakes rental markets need to evaluate many applications daily. No more days of dealing with illegible handwriting, and missing documentation. Most digital tenant screening platforms pull records from large databases and provide results in minutes.
Digital tenant screening platforms collect standard information and provide secure portals for applicants to use.
These screening products will analyze the credit profiles, court records, and income-to-rent ratios to decide if the tenant is a qualified candidate.
These include:
·       Proof of ID
·       Number of occupants
·       Name and contact info of applicant(s)
·       Income statements
·       Employment history
·       History of past addresses
 
Digital screening methods automate the process
Many digital resident screening tools rate customer application data, credit, and public record information on a scale. Property Managers can adjust their acceptance criteria to respond to the evolving marketplace and keep units occupied. Statistical lease screening methods assign rankings to the applications enabling property managers the ability to identify the best possible renters from the applicant pool.
These digital screening methods are save time and evaluate if the if the resid……

Which of the 3 Types of Cloud Services is Best for Property Managers?

Cloud-based servers allow organizations to access their network and data on the internet instead of having to manage large and unsightly physical servers. The cloud facilitates access to important data therefore improving user-friendly capabilities and enhanced productivity. Approximately 90% of companies currently use some form of cloud services, there are 3 main levels which an organization can adopt cloud services that increase based on sophistication of the platform.
Infrastructure as a Service
“Infrastructure as a service,” or “IaaS”, is the most basic cloud service. IaaS can be used to build and manage networks and data storage that can help companies with their transition to a virtual environment.  It’s typically referred to a ‘cloud storage’ and most often, IaaS is implemented for temporary or unexpected changes. IaaS users can access their networks through a dashboard or an Application Programming Interface (API) online.
Platform as a Service
“Platform as a Service,” or PaaS is the next step up from IaaS offering customers additional capabilities often by integrating with IaaS services. Using PaaS, customers can develop modules and applications themselves within their cloud infrastructure, this gives organizations complete control over the functionality of their software as well as complete responsibility over the security and operation of the apps developed.
Software as a Service
Software as a Service more commonly referred to as “SaaS,” is the most advanced of the three cloud services. SaaS customers can just log into their system online and access a comprehensively platform with a wide range of capabilities including communication and applications designed for specific……