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‘What Renters Want’ with Jessica Fiur: How Exclusivity Could Attract More Residents
There is a park in Manhattan called Gramercy Park. You can only go in if you live in one of the surrounding buildings, which gets you the honor of a key to the park. But, so what, right? There are tons of other parks in the city. Like Central Park, which has a zoo and boat rentals and jogging paths and concerts, and is, of course, iconic. And there’s Madison Square Park, the home of the original Shake Shack, which has the most amazing burgers, fries and shakes. What’s in Gramercy Park? Just some trees and flowers and stuff. Who…
‘What Renters Want’ with Jessica Fiur: Why You Shouldn’t Assume Anything Regarding Your Renters and the Lease
You might not think you need to spell out every little thing in your lease agreement with your residents because some things are just common knowledge—everyone knows them, everyone follows them, and there’s no reason to waste time or paper writing them out. But you’d be wrong. It turns out that there really isn’t “universal knowledge.” What might be a “no duh” thing for you might not even occur to your renters. Case in point: I was recently talking to a coworker, and referenced the classic teen movie Clueless. You know the one, of course—the updated version of Jane Austen’s…
‘The Accidental Economist’ with Jack Kern: Capital Flies South for the Winter
Life is funny. Sometimes just when you have it figured out, you get bopped on the head and realize how wrong you can be. I’m usually in the prediction business and have been fairly successful at it. My interest is in commercial real estate sectors and multifamily is a regular guest on the circuit. One of the more interesting facets about multifamily is how popular it has become. Recently on a trip to Chicago, a taxi driver from Senegal told me he comes from a wealthy family by Senegal standards and they’re pooling their resources to buy an apartment building…
‘What Renters Want’ with Jessica Fiur: Managing Resident Turnover with Exit Interviews
Have you ever quit your job? Well, if you haven’t, there’s often an official order of business that you have to attend to in between telling your boss that he can take this job and… fill it, and trying to get to your car without all the pilfered post it notes and highlighters falling out of your pants pockets. That’s right, the dreaded (?) exit interview, where former employees are asked to review the company, their position, their manager, all that, so that, I don’t know, it can go on the manager’s permanent record or something. For a company, I…
Guest Blog: ‘Human Capital’ with Matt Slepin
This is my inaugural blog for Multi-Housing News. I’ve been writing columns for awhile, but this is my first ongoing blog. Since this is a new venue for me, I wanted to start with a mission statement on what readers can expect. In the real estate business, we focus on deals, deals, deals. Sometimes we talk about operations and the art of maximizing value in properties and portfolios. But it usually all relates to deals and financial returns. This column will explore a third front—the human capital side of the real estate business with a focus on the multifamily sector….
‘What Renters Want’ with Jessica Fiur: Going ‘Psycho’ Over Real Estate Design Sites
I feel a little bit like Norman Bates sometimes. Whoa, whoa, whoa. It’s not that I dress up in my mother’s clothes. I just get the voyeuristic urge to peer into other people’s apartments. Wait—that sounds way creepier than wearing my mother’s clothes. It’s not like I actually look into my neighbor’s apartments. (Curse you, inventor of blinds!) But I could (and have!) sit for hours on design sites such as Pinterest, Houzz and Apartment Therapy. It’s not just me, either. These sites are insanely popular right now (And why not? We all go a little mad sometimes.) Everyone seems to…
‘Business Development 101’ with Marilynn Mendell: Planning is Key
The days of long range convoluted business plans are over because the world changes too quickly. But, short-range goals and scenario planning will help move a company or person forward.
‘What Renters Want’ with Jessica Fiur: Ways to Keep Your Community Safe from Bad Guys (Or Bored Teens)
The other night, I was sitting in my apartment watching some TV with my husband. Then these two guy drove up in a van, parked in front of my building, and sat there. And blasted music. For two hours. I was totally creeped out. And not only was it creepy that these two guys were just sitting there in their van, but the music was really, really annoying. Now, maybe I’ve just been watching too much Breaking Bad. Maybe I would have been more at ease if they were playing Bon Jovi or Green Day, or other music I like,…
‘What Renters Want’ with Jessica Fiur: Roger Federer and the Danger of Complacency in Apartment Marketing
Last night I went to the U.S. Open and saw the Roger Federer vs. Tomas Berdych quarterfinals match. Now, I’m not a huge sports fan, but I still had a few expectations when I got to the tennis center: 1. The food would be expensive. 2. I would see celebrities. 3. Roger Federer would be handsome in real life. And 4. Federer would win. Well, I paid $7.50 for ice cream; saw Pippa Middleton, Anna Wintour, Arethra Franklin and Yup, Federer, the number one tennis player in the world, lost to Tomas Berdych, who is…actually, I’m not sure what number he is (thought it’s…
Guest Blog: Business Development 101
Business development excellence is based on four main principles: ethics, planning, appearance and appreciation. Part 1.