Are You Ready for Renting Season?
- May 17, 2012
Summer’s just around the corner, which means the busiest leasing season is already here. Are your properties and associates ready? This is a good time to take stock of the policies and procedures your teams are following during the move in/move out process.
In MHN’s Property Management feature, Associate Editor Philip Shea provides tips for transitioning apartment units. Since multifamily is doing well, many apartment communities have waiting lists. In some cases the model unit is rented out, so showing a prospect what her new home would look like can be dicey.
Our interviews with RPM Realty, Forest City Residential Management and Western National Property Management reveal different approaches to this scenario as well as ways to encourage outgoing residents to leave their apartments in tip-top shape. A transparent inspection process that includes the resident gives him the opportunity to fix what needs to be fixed, or at the very least to understand charges that will be incurred. Once the apartment is vacant, consider contracting with a janitorial services provider for finishing touches on the unit. This approach makes sense because you’ll always be able to handle the volume—whether it’s peak turnover time or when things are slow.
In the May issue of MHN, we also take a look at a related topic: resident screening. We wanted to find out how the improving economy has affected the quality of renter applicants. According to the industry suppliers and operators we talked to, the current resident screening environment holds surprises, as well as some lessons for multifamily owners and operators.