Property Management News
On an extremely cold afternoon last month, several tenants said they couldn’t shower, flush the toilet or do their laundry. Building managers blamed frozen pipes leading from a rooftop water tank. The water outage affected the entire building and lasted three days. It followed chronic complaints about a lack of hot water, according to tenants and city complaint data. It was a change from the fall, when tenants said water flooded the second floor. Photos and videos shared by residents show the water pouring into the luxurious lobby below, which features sofas, bookshelves, a fireplace and designer wood paneling. The problems shocked residents, whose rents can reach over $12,400 a month... Read more
Discover the hidden costs of tenant turnover and learn strategies to reduce vacancies. Complete breakdown of expenses, time investments, and proven retention tactics for...
Spring cleaning in a multifamily building is as much about protecting value, reducing liability, and showing residents that their building is well cared for as it is...
Property owners and managers invest millions in renovations every year—gut rehabs, new amenities, completely refreshed interiors. And for many communities, those...
Every residential lease includes an implied warranty of habitability—even if the lease does not expressly mention it. This legal protection serves two core purposes:...
Chargebacks – when a property charges a resident for causing damage to the property – are becoming increasingly significant in the residential rental property market. While chargebacks are designed to protect asset owners…and their bottom line, their impact on resident behavior and property operations is complex and multifaceted. Traditionally, most owners have relied on security deposits to cover resident-caused damages, addressing these issues only at move-out. However, this approach often leaves a backlog of unresolved problems during the lease term, resulting in costly turnovers and little incentive for residents to change problematic behaviors. By implementing in-lease... Read more
If you’re considering a renovation, you know how important it is to hire a skilled contractor for the job. But sometimes, unexpected problems arise. Once the paperwork...
When it comes to choosing between different flooring choices, the options can be surprisingly nuanced. This is particularly true for wood flooring vs. engineered wood....
By James Malki with Malki Construction Shared structural elements are critical components of multifamily apartment buildings. While individual units are leased to...
There is a potential new headache for property managers now as an Amazon delivery drone crashed into an apartment building in the Dallas suburb of Richardson. An Amazon...
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