Do You Manage Your Properties Like a Rock Star? (Maybe You Shouldn’t)

I recently went to see a concert—Social Distortion...

I recently went to see a concert—Social Distortion, one of my all-time favorite bands. And while it was an awesome show, I was disappointed that they didn’t play my favorite song, “Story of My Life.” (Kids, it’s one of the songs in the Rock Band video game, if that helps. And now I feel old.) This is probably one of their most well-known songs, and I’m guessing most-played, so maybe they were sick of it or something.

A similar thing happened when I went to see John Mayer a few years ago. Now, I’m not the biggest John Mayer fan. I like his radio stuff fine, and he’s certainly easy on the eyes. So at the concert, I wanted to hear his big number one hits, “Your Body is a Wonderland,” “Daughters,” etc., because those were the ones I knew. But he ended up playing a medley of all his top songs. I got a couple of seconds of each of the songs I liked and knew before he moved on to his newer and/or more obscure songs, and I sulked for the rest of the show. (I’m a fun date.)

All this got me thinking of property management strategies. (Apparently I like thinking about apartments when I go to concerts.)

Similar to how rock stars should think about what their fans want to hear, as a property manager, make sure to remember what your prospective renters are really looking for when they take a tour of the building.

It’s nice to have all the bells and whistles and amenities. But having a fitness centers, dog park or tanning bed at your property is a bonus. Those things are the B-side, hidden-track treats for your residents. First and foremost, what do your renters want when they come to your property?

A clean, safe place to live.

Before you rent out your apartments, make sure you clean them up. Fix any issues in the actual units—whether it needs a new paint job, or new appliances, or a new chain lock. Exterminate any creepy crawlers. Put new fire alarms in and make sure you test them.

Look, I’m sure The Stones are sick of playing “Satisfaction.” The Beach Boys would probably be happy never to hear the word “Kokomo” again. And taking care of the nitty gritty of your apartment units certainly isn’t as sexy as adding new amenities to your building. But you gotta give the people what they want.

-Jessica Fiur, News Editor

Photo credit: Alex ko