Advertise on Leasing Cafe

Sit down, relax, and browse through The Café Blog—your source for apartment industry news.

We're constantly scouring the Internet for the most relevant, informative multifamily industry articles and tips we can find to share with our readers. In addition, we're home to exclusive essays and helpful hints from our own Leasing Cafe baristas.

Got an article you think we should post or a topic you think we should cover? We'd love to hear from you! Just click the "CONTACT" link at the top right corner of the page and send us your ideas. And don't forget the Coffee Talk Forum -- post your thoughts and get the discussion flowing with other apartment professionals!


Ellis Shopping Report Multifamily Industry Benchmark 4th Quarter 2015

1/19/2016
Happy New Year! Welcome to the Fourth Quarter 2015 Quarterly Shopping Report Performance Comparison. Ellis, Partners in Management Solutions is your source for an integrated solution to your sales, marketing, resident retention and business process improvement needs. For 32 years, we have been helping apartment management companies and owners evaluate employee performance and effectiveness, and we remain committed to the growing needs of our customers. We continue to strive to deliver the most modern and effective tools to help you monitor and evaluate on-site leasing engagement and marketing effectiveness, as well as compare your team’s performance to others in the industry. Thank you for partnering with us as together we seek out opportunities which will stimulate employees to dig deeper into the leasing conversation and enrich the experience with their customers.

The 2015 Benchmark theme was designed to foster internal conversations about training the multi-generational front-line leasing team. We hope you gain some new understanding as a result. Fostering a diverse workplace continues to be a high priority for many companies today. In this final letter of 2015, we explore some trends in Training Delivery which speak best to Generation Y.

Changing Trends


It has been said, “The best predictor of future performance is past behavior.” Trends give us an opportunity for improvement when it comes to serving the customer. Where have your employees ranked among your competitors over the last 16 years? These invaluable trending graphs provide a quick glimpse of benchmark averages since 2000. What does your company trend look like? READ MORE

"What Residents and Prospects Want to See From You on Social Media"

9/28/2015

ELLIS Parnters in Management Solutions 

Join us for this FREE Webinar September 29, 2015

11 AM PT, 12 PM MT, 2 PM ET

The rules of social media have changed again!  We will discuss what your residents and prospects from you on social media and how you can develop a strategy to meet their needs


CLICK HERE to Register.
Space is limited

"STOP YELLING AT ME! What to do When Your Residents and Customers Are Not Happy"

9/24/2015

September 24, 2015 at 1:00 pm - 1:30 pm CT (11 am PT, 12 pm MT, 2 pm ET)

FREE Webinar by Ellis Partners

Unhappy, unsatisfied (and extremely vocal about it!) residents and customers are a reality of life in residential property management. Even the best companies, with the best people and the best of intentions fall short in the eyes of their customers; and when they do fall short, how they handle those situations can go a long way to whether customers become residents, and whether residents remain residents!

CLICK HERE to reserve a space!

The Apartment All Stars' "Complete Guide to Leasing"

7/15/2015
Get a FREE copy when you order a subscriptions this month for Rent & Retain by Mindy Williams.
 
Simply put ALL STARS in the promo code box upon check out and you'll receive the book and a year's sub to the magazine for $79 (book is $29.95 by itself)..

Interested in just buying the book?  Buy a BRAND NEW copy at Amazon.com by clicking here:  ALL STARS BOOK ON AMAZON  Find out more at http://www.RentandRetain.com. 

Housing Discrimination Doesn’t Need Intent, Supreme Court Says

7/2/2015
Much of the country’s attention has been on the United States Supreme Court’s rulings on marriage equality and the Affordable Care Act last week, but the nation’s highest court also handed down an important housing decision that looks at whether a public or private entity can get hit with a federal Fair Housing lawsuit even if it had no intent to discriminate. The legal concept is called disparate impact and, ever since the federal Fair Housing Act was enacted in 1968, all federal courts of appeal have interpreted the law to mean an entity can get sued for housing discrimination if its actions have a disparate impact on a protected class, regardless of intent.  READ ARTICLE

Cottonwood Residential Chosen in Top 10 Best Online Reputations

5/6/2015

ORA Power Rankings by J Turner Research has announced the Top 10 NMHC 50 Managers with the Best Online Reputation.

You may know who made it to the 2015 NMHC 50 Managers list based on the number of units managed.
 
But do you know how happy the residents are in those units? Based on the yardstick of the best online reputation, the April Edition of the ORA© Power Rankings  recognizes the  Top 10 NMHC 50 Managers for Online Reputation. READ THE ARTICLE

 

"Apartments. We Live Here" from NAA

4/15/2015

A rediscovery of metropolitan urban cores and 80 million Millenials beginning to enter the housing market primarily as renters continue to drive apartment demand. In fact, it takes at least 300,000 to 400,000 new apartment homes each year just to keep up. While construction has accelerated in response, many communities still lack sufficient housing options. READ REPORT

 

 

Ellis Shopping Report Multifamily Industry Benchmark 1st Quarter 2015

4/15/2015

This year’s Ellis Benchmark theme is designed to cultivate internal conversations as we seek to understand and train the multi-generational front-line leasing team. Is your current leasing training model speaking to the needs of all employees? Are you prepared for today’s emerging workforce—Generation Y? Is it time for an adjustment in your approach? Join us each quarter of 2015 as we explore new ideas in Leasing Training Content, the Leasing Training Environment, and Leasing Training Delivery. Each topic will be explored. New ideas will be presented. Questions will be answered.
READ ARTICLE 

Customer Journey Map Preparation

2/12/2015

By Misty Sanford

We’re one month into 2015, and we’ve already noticing a few trending topics. One of those topics is customer journey maps. This is more than just a buzz word. With our every growing focus on the customer experience, we think this topic is here to stay.

So what is a customer journey map? It is a framework that maps the resident lifecycle. That’s the easy definition. The more complicated definition is below.

A customer journey map documents your resident and prospect experience from the perspective of their eyes. This helps you understand how your customers interact with you today, and it also identifies improvement opportunities.

That last sentence is the important one. Understanding your customers and what to invest in moving forward is half the battle. We get so much feedback from surveys, social media, reviews, and casual conversations that it can be difficult to know where to even begin! Defining your customer journey map helps you do that...CLICK HERE TO LEARN HOW!

Crisis Management

12/3/2015

Crisis happen; it’s inevitable. An unfortunate event takes place that affects your brand and it winds up being aired on the news for all to see. Now, with social media in the mix, crises happen more often because customers are very quick to share a negative experience and others are quick to share or retweet. And then you have a whole new crisis to handle: a social media crisis.

Before we can dive into how to handle a crisis, we must determine what a crisis is. For example, mean tweets talking about a rude leasing professional is not a crisis. A real crisis or disaster could be a shooting or fire or something to do with faulty technology. For example, may your rent payment system double charge residents, or the fancy keyless locks stop working throughout the property. Furthermore, a person tweeting that their new apartment wasn’t clean at move-in isn’t a crises, but a gunman on your property is.  READ MORE

Ellis Shopping Report Multifamily Industry Benchmark 3rd Quarter 2015

10/15/2015
...Another quarter has elapsed and we are delighted to bring you the Third Quarter 2015 Ellis Shopping Report Multifamily Industry Benchmark. Now is a time to ponder on leasing performance and seek out opportunities which will stimulate employees to dig deeper into the leasing conversation and improve the experience with their customers. As your partner, Ellis strives to deliver the most modern and effective tools to help you monitor and evaluate on-site leasing engagement and marketing effectiveness, as well as to be able to compare your team’s performance against others in the industry.

This year’s Benchmark theme is designed to foster internal conversations as we seek to understand and train the multi-generational front-line leasing team. Fostering a diverse workplace is a priority for many companies today. As a result, insightful leaders are beginning to realize that their training design is not cutting it for the fast-paced, new emerging employee. In this letter, we explore some new ideas in the physical learning environment which speak to Generation Y.

Changing Trends

There is always an opportunity for improvement when it comes to serving the customer. Where have your employees ranked among your competitors over the last 15 years? This invaluable trending graph provides a quick glimpse of benchmark averages since 2000. What does your company trend look like? READ MORE

"Do Renters Feel a Sense of Community Spirit at Their Apartments?"

9/1/2015

Is it just a place to hang their hats, or do your residents really feel connected to their apartment community? This month, MHN partnered with Kingsley Associates to find out how resident feel about living in their communities.

“I enjoy having friends and family come visit, and I’m constantly telling friends about the community when I know they are unhappy living in other complexes.” —Tempe, Ariz.

“I have only lived here one month, but I feel isolated and people do not seem very friendly. It all seems very impersonal.” —New York

“People are very friendly. It’s nice to see that many tenants have lived here for a long time.” —New York

“This community of residents seems of high caliber along with the staff, which also lends to the environment here. Residents are kind and friendly on the elevator.” —Kirkland, Wash.

“I find that the new leasing staff is not friendly and truly uninterested. They make no attempt to engage in conversation or even try to remember who you are.” —Seattle

READ ARTICLE ON MULTI-HOUSING NEWS 

"Cap Rate Variations" by Daniel Kann

4/27/2015

Commercial real estate professionals live and breathe capitalization rates. Every trade publication, market participant, and third-party report relating to real estate quotes cap rates for various markets and properties. But ask a group of real estate professionals to calculate a specific property’s cap rate and you are likely to get a variety of answers — despite the simplicity of the formula. If cap rates are widely used and easily calculated, then why does everyone come up with a different answer?

 This article looks at the underlying reasons for cap rates variations, ranging from different uses by market participants to different methods of cap rate extraction. While CCIMs are trained to extract cap rates in a certain way, not all market professionals use the same criteria. Understanding how such variables can affect the cap rate and the value of a property is just as important as developing — and using — a consistent method of cap rate extraction. READ ARTICLE

 

Visitor