3 Tech Essentials for Multifamily Developments

The multifamily sector is experiencing a surge in luxury developments and to be a top player you must have the latest tech essentials. With endless options it's important for property managers to remain competitive and up on the latest trends that entice more move-ins. Here are a few cutting edge tools that will help your apartment community stay in the lead:

Creating A Successful Multifamily Recycling Program

Getting buy-in from residents for a multifamily recycling program is a challenge for every property management company and private hauler. Greater individual success in these recycling efforts come from greater support and structure within the community encouraging such action. This week, Block Multifamily Group (BMG) VP of BMG, Justin Larson, presents at the Waste Expo Conference about how his team approach multifamily recycling programs. Here are some ingredients for Justin's recipe for a successful multifamily recycling program:

What Gen X Wants In A Multifamily Property

WaterCrest at Lenexa City Center (A Block Real Estate Services Multifamily Development and will be managed by Block Multifamily Group)

Trending In Multifamily: Amenities



In the commercial real estate multifamily market, investors are looking at quality assets in markets where the existing job market is stable and the future of job creation and job growth is on the horizon. Residents seeking multifamily housing in these markets are looking for amenities to match the up-and-coming lifestyle of these healthy job markets.  2014 multifamily developments will continue to show the demand for amenities for future developments.

Property Management Tip #8 - Pushing Revenue

Make pricing trends work for you! 
A well-managed property
should set prices more strategically than competitors. 

Property Management Tip #7 - Vendor Relations

Cultivate positive vendor relationships!

A well-managed property should build better vendor relationships.

On-site and regional managers should proactively build relationships with skilled workers.  Choose vendors that are in your price range, are trustworthy, and do very good work.  Keep them close, and they will come to the rescue when the property needs it most. 

Property Management Tip #6 - Resident Services

Make their home feel more like home!

A well-managed property should feel more like home than it's competitors. 

Multifamily Commercial Real Estate Social Media

The accessibility and reach of social media can be a great ally to reach your market in the apartment world. An integrated social media strategy will help you push leasing and communicate with residents, which equals: get new residents, and keep the ones you have! In this blog post, I will examine how social media can add value to the different facets of multifamily commercial real estate. 

Property Management Tip #5 Reputation Management

Manage. Monitor, Respond. 

A well-managed property should have a better reputation than its competitors. 

Keep tabs of what residents and prospects are saying about your property.  Monitor as many review sites as possible.  This will cost a little time and money, but it is well worth it.  If a resident posts a complaint online, they expect a response withing the hour!

Property Management Tip #3 Energy Efficiency

Proactively audit your

property's energy usage! 

A well-managed property should be greener than
its competitors.

Energy monitoring involves more than just placing setbacks on thermostats and timers on common area lighting. It includes preventative maintenance, analyzing usage trends, negotiating peak rates, and researching rebates for upgrades. And remember ... green practices attract green tenants!  

Let Block Multifamily Group (BMG) analyze your property for a FREE analysis.

Go to www.blockllc.com/free-analysis.


To view all of our Property Management tips click here!

　

 
 

It Takes More Than The Luck of The Irish to Market an Unbuilt Project

It takes more than the luck of the Irish to market an unbuilt property. For most properties, potential tenants and buyers have the ability to tour a physical location and see firsthand what they will be putting their money towards. With an unbuilt property, a broker could work twice as hard to gain a commitment from the client. This is why marketing an unbuilt property requires some degree of creativity and a good deal of strategy.  For this St. Patrick's day-themed blog post, Block Real Estate Services (BRES) explores what it takes to get your stakeholders on board for an unbuilt project and find your pot of gold at the end of the rainbow.

Multifamily Remains Ripe For Investment

Leaders at the National Multi-Housing Council (NMHC) discuss the year to come.  Block Funds makes first apartment purchase; seeks to acquire 1,500 units in 2013.

Leaders in the apartment business from across the United States and Canada met last week in Palm Springs, California to discuss the state of the industry and economy as well as trends in apartment operations, development and investment. The meeting included a conversation with Earvin “Magic” Johnson about his experience as an entrepreneur in many urban communities. When asked about his approach, Johnson said, “You prepare so much when you are an athlete. I took preparation from basketball into the board room.”

Another highlight of the meeting included a discussion between NMHC Chairman Tom Bozzuto, Senator Alan Simpson and Erskine Bowles, former co-chairs of the National Commission on Fiscal Responsibility and Reform. The pair pointed to five major causes of the US debt crisis, including healthcare, defense, social security, an inefficient tax code and compounding interest on existing debt. Bowles called the issue “the most avoidable economic crisis in history,” but pointed out that, “the problem is real and the solutions are painful.”

Multifamily Collaboration on a Big Scale

2012 has been a great year for the Multifamily industry. There are new opportunities, developments and technological advances everyday. One of the ways to fully capitalize on what’s happening is by putting yourself out there through networking and sharing information with other professionals.

Apartments as a Consumable Product

Apartments are consumable products. At our company, Block Multifamily Group, (BMG) we understand this concept through the Retail lens. Through this lens, we imagine the property as a retail shop, with the front door being the property’s entrance; the product for sale being the units; the store being the grounds and the salespeople being every member of the Management, Leasing and Maintenance staff. This approach has proven to be a critical management tool, and we have seen great on site improvements as a result. 

Going Green, Saving Money

Sustainability is a vital and recurring topic discussed throughout the commercial real estate realm. According to CoStar Group article about "Green Buildings", green practices are “reducing long-term operating and occupancy costs, improving occupant health and boosting employee productivity.” The study also found that “green building demonstrated higher average occupancy levels.” These findings show how sustainability is an essential feature in environmental and cultural preservation. Also, maintaining a healthy community and environment is an invaluable practice in commercial real estate.