The MRI H!GH 5

By | February 5, 2016

With all the various industry news publications out there, staying in the loop can be a daunting task. That’s why each week in the H!GH 5, we will be selecting the most relevant and important news articles in the property management and real estate industry. Check back every Friday for the latest list of top stories.

Here’s our list of top property management news articles for the week of January 31, 2016:

  1. Could This Technology Shake Up CRE? (Author- Jennifer LeClaire, GlobeSt.com)

 

RE Console, an “all-in-one” automated research tool is promising to save real estate industry professionals time and money. The tech company connects commercial real estate professionals with real-time news and data, giving the user a more personalized market feed. Jennifer LeClaire gives us the details on how the company is set to shake up the industry.

  1. Summaries for the Housing Opportunity Through Modernization Act of 2015 (GoveTrack.us)

 

The house is set to vote this week on an important legislation. This bill is positioned tochange how certain allowances for low-income families such as child care and medical expenses are used to determine federal housing assistance. Read more to find out more about this bill.

  1. Modern Office Design Must Focus on “Sense of Purpose” Ideal (Author- Robert Carr, National Real Estate Investor)

 

Do your employees feel a sense of purpose? If not, it may be due to you office layout. Research is showing that $500 billion is lost each year in the US because employees do not feel engaged in the workplace. To remedy this, companies are implementing different types of work stations that allow for socializing, as well as solidarity. Robert Carr reports on what companies are doing to keep employees happy.

  1. Trend Makers for Multifamily to Watch in 2016 (Author- Lea Lashley, Property Management Insider)

 

Mark Cuban. David Bowie. Andy Samberg. What do these people all have in common? You may be surprised to learn they are all top influencers in the multifamily industry. Lea Lashley explains how Property Management Insider came up with their list.

  1. 12 Ways a Vendor Network can Strengthen Vendor Relationships (Author- Tim Blackwell, Property Management Insider)

 

A vender network provides a wealth of benefits. These networks build success, provide assurances, and support sales. Tim Blackwell gives us the 12 ways a vendor network can strengthen vendor relationships.

                                                                                                                                                   

Tweet us your best high 5 at @mrisoftware !



Sipping on Social Media in Napa

By | February 2, 2016

What a week! We just came back from the Multifamily Social Media Summit in Napa, California and now we’re recovering from a social media hangover. Though the wine was great, the wisdom was even better. Industry experts from around the country shared their advice and best practices, making it an unforgettable learning experience.

Here are a few of our favorite moments from the week:

Hug Your HatersSMS

Author, Jay Baer, gave a piece of advice that really resonated with the crowd: Hug your haters. What this means is practicing exceptional customer service and answering every complaint, every time. The reason behind this philosophy is that customer retention starts with embracing their complaints. Baer recommends going back and answering the first two pages of reviews. If you’ve answered a complaint or a review and it’s still not good enough for the hater, Baer says it’s time to walk away.

The Importance of Storytelling

Steph Reid-Simmons of Zillow used her session to stress the importance of storytelling in real estate. Her advice was to make sure you don’t miss out on telling your story by only talking about your amenities. Talk about your communities. That is what drives emotion, which Reid-Simmons says, drives action. “Everyone is a potential fan, renter and referral, if you make them feel something.”

Visual Wins

“The brain can process images 60,000x faster than words,” said Adam Japko of Esteem Media. He emphasized that in the minds of humans, visual wins. His advice? Combine visual with context, and keep it authentic. People want real, not perfect.

Analytics

Michael Huereque of Cardinal Group Management took the stage to talk about how to use social media effectively. His main point was that understanding your data is key. Use that data to get actionable insights and create your marketing timeline. Huereque said that if your marketing doesn’t start with the analytics, then you’re just taking shots in the dark.

It’s safe to say we had a great time at the Multifamily Social Media Summit 2016. We can’t wait to use our new skills before heading back to Napa to learn more next year!



The MRI H!GH 5

By | January 29, 2016

With all the various industry news publications out there, staying in the loop can be a daunting task. That’s why each week in the H!GH 5, we will be selecting the most relevant and important news articles in the property management and real estate industry. Check back every Friday for the latest list of top stories.

Here’s our list of top property management news articles for the week of January 24, 2016:

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  1. Modern Rent Parties Highlight The Need For Affordable Housing (Author- Pam Fessler, NPR)

It’s no secret that affordable housing is tough to come by, but thankfully there is one particular nonprofit doing their part to help out. Enterprise Community Partners coordinates “rent parties” to help families find ways to pay their rent. Pam Fessler shares one story of a man fighting to keep his home during hard times.

  1. 2016 Rent Growth Makes a Strong Start (Author- Paul Bubny, GlobeSt.com)

Apartment growth trends are defying all expectations by reaching an all-time high this month. Geographically, the increase is more widespread than in the past as well. While this growth is expected to moderate throughout the year, the multifamily market seems to be in good shape for the time being.

  1. The Shift From Urban Core to Tertiary Markets (Author- Jennifer LeClaire, GlobeSt.com)

There’s been a shift in commercial real estate from class A to class B, and experts are saying this is partially because of absorption. Other factors are increased lending capacity and new construction. Jennifer LeClaire gives us the inside scoop on what we could expect in the coming year as it relates to this shift in markets.

  1. An Uber for Office Space ((Author- Paul Bubny, GlobeSt.com)

Crelow, a technology platform geared toward connecting office tenants and owners with available spaces that meets their needs, is rolling out across the country. CEO, Jim Simpson, says the company is focusing on the small tenant, which is a large and underserved group. Paul Bubny gives us the details on this new tech platform.

  1. Big CRE Brokers Race to Bulk Up Retail Offerings (Author- Randyl Drummer, CoStar News)

Large CRE services companies are trying to keep up with retail real estate by expanding their offerings. Major commercial real estate brokerage firms are already increasing their retail offerings. Randyl Drummer reports on what’s happening in the industry.

Tweet us your best high 5 at @mrisoftware !

 



Let it Snow

By | January 26, 2016

“Oh, the weather outside is frightful,Snowman

But the fire is so delightful,

And since we’ve no place to go..,

Let it snow, let it snow, let it snow.”

Do you ever wonder what the life was like of the “Let it Snow” songwriter? Because for most of us, we DO have places to go and we don’t want to let it snow. Nevertheless, as a property manager, it’s your job to make sure tenants stay safe in their homes and buildings during a blizzard.

Winter Storm Jonas took the United States by storm (literally), especially the East Coast, and even though the worst is over, there is still much to be done to recover. According to USA Today, as of January 24th, Washington D.C. received 22.2 inches of snow, Baltimore received 29.2 inches, Philadelphia collected 22.4 inches, and New York City ended up with 27.9 inches. The resulting damages ranged from power outages and flooding, to frozen pipes.

Whether you own apartment complexes, manage office buildings, or anything in between, planning for the next blizzard is a crucial part of your job. Here are some tips regarding winter preparation for property managers:

  • Check for vulnerabilities on your properties

 

The best way to protect yourself and your tenants is to be proactive. Before the winter months roll around, inspect every inch of your buildings for risk factors related to trees, roofs, gutters, furnaces, etc.

  • Keep track of the weather

 

Your smartphone is your best friend before, during, and after a storm. If you are managing property in colder climates, make sure you sign up for weather alerts so you know exactly when a snow storm is going to hit. If you don’t have a smart phone, make every effort to check the news or radio frequently in the winter months.

  • Have snow removal supplies readily available

 

If you do not have a maintenance crew or snowplow on the property, have plenty of shovels available for tenants to remove snow and ice from stairs, walkways and driveways.

  • Salt, Salt, Salt

 

After the snow falls and the temperatures creep back up, ice becomes everyone’s worst nightmare. For landlords and property managers, a major priority is making sure tenants and residents do not slip and fall. Additionally, ice makes it easy for cars to slide and collide in parking lots or driveways. Make sure you have salt on hand or any other de-icing compounds you prefer.

Of course, there is no way to avoid every issue that comes with a winter storm, but if you stay prepared, you may just be singing “Let it Snow” and finding it a little more believable.



The MRI H!GH 5

By | January 22, 2016

With all the various industry news publications out there, staying in the loop can be a daunting task. That’s why each week in the Hi-5, we will be selecting the five most relevant and mri-software-hi-5important news articles in the property management and real estate industry. Check back every Friday for the latest list of top stories.

Here’s our list of top property management news articles for the week of January 17, 2016:

  1. Putting the Personality Back into Property Management(Author- Tim Blackwell, Property Management Insider)

Automation is everywhere we look, and property management is no exception. It can be difficult to remember that personal connections still matter, but it can make a huge impact on the success of your business. Tim Blackwell explains why it is so important to focus on your relationships with clients, prospects, and employees.

  1. Big Picture—What Could We See in 2016? (Author- Natalie Dolce, GlobeSt.com)

PwC and the Urban Land Institute (ULI) recently released the 37th edition of “Emerging Trends in Real Estate” and findings have the industry talking. Three main topics that came out of the report include interest rate hikes, foreign investments, and the growth of core markets. Natalie Dolce gives us the details on these issues.

  1. Tech Continues to Dominate CRE Activity(Author- Lisa Brown, GlobeSt.com)

It’s no secret that Silicon Valley is a hotspot for tech companies, but the competition to land a spot on the Peninsula will make your jaw drop. The latest example of this is Youtube’s purchase of Bayhill Office Center. Lisa Brown shares the details of this transaction.

  1. MF Not Overbuilding Yet, But Projects May Change (Author- Sule Aygoren, GlobeSt.com)

“Are we overbuilding, or building the right stuff?” That was the topic of conversation at the 2016 NMHC Apartment Strategies Outlook Conference. Moderated by Jay Denton of Axiometrics, panelists discussed the topic of multifamily construction. Sule Aygoren reports on what they had to say.

  1. A Forward Look at Retail Construction (Authors- Michael Steinberg and Barbara Denham, National Real Estate Investor)

2015 showed very little increase in neighborhood and community center inventory, clocking in at a number well below the historical average. Reis expects retail supply to increase significantly in the next three years and vacancy rates to decrease. Read more to find out what else is predicted for the retail market in the next three years.

Tweet us your best hi-5 at @mrisoftware !



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