Socializing with Residents Its great to be friendly with your residents, but its risky to be...
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Transcript of Socializing with Residents Its great to be friendly with your residents, but its risky to be...
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Socializing with Residents
It’s great to be friendly with your residents, but it’s risky to be FRIENDS.
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Social Media
Even well-intended opinions can come back to haunt you and your company.
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Talking to the Media
Keep it simple and state only the FACTS!
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How to properly answer the phone
Your telephone “voice” will be the first impression a person makes about your property.
5
Budget Control
If you haven’t seen your property’s budget, ask for it.
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Security
Have a “zero tolerance policy” about breaching security: respond immediately if you determine someone is
propping a door open or disabling cameras
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Safety Procedures
Start with a written disaster preparedness plan.
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Written PoliciesHave all leasing policies in writing and approved BEFORE
leasing ANY units.
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Effective Rent IncentivesYou can create “priceless” rent incentives that cost a lot less
than discounted rent, just by being creative.
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Resident Supportive ServicesGet “FREE” money and lifestyle enhancements
for your residents
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Curb Appeal/Landscaping“Greening” up the grass doesn’t cost money,
it MAKES money!
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Marketing/LeasingWritten ads do not lease properties, people do
So, how do you attract the PEOPLE? Become a “Professional Greeter”
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Maximizing First Year Tax CreditsLease up on a building by building basis whenever possible.
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Gangs & DrugsBe responsive to tenant complaints of late night noise or
high-traffic apartments.
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How to correct a mistakeNever use white out on documents in a tenant’s file
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Unit InspectionsAsk contractors to report unit conditions to you.
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Live-in AidesUse a lease addendum which denies occupancy to a live-in
aide after a resident is no longer living in the unit.
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Preventative MaintenanceA written preventative maintenance plan should be
maintained and posted.
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Health & Safety IssuesRemove all aluminum foil from the stove top and oven.
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Correcting Non-ComplianceNon-compliance must be corrected prior to receiving
notification of an audit or inspection from the allocating agency.
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Obtaining contractor bidsBids from three (3) contractors are expected, however the
lowest bid isn’t always the best bid.
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Capital ImprovementsMaintain a short and long-term list of replacements and
improvements including costs and funding sources.
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Reading a credit reportCredit reports give you much more than credit history –
verify all personal data!
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Establishing effective relationshipsTo make a positive impression, develop your “advanced”
listening skills.
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Crime PreventionAdequate lighting both internally and externally is a great
crime deterrent.
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Keeping the kids busy during the summerTake advantage of CAHEC’s Youth Recognition Program
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Pet Control
Walking your property can reveal signs of unauthorized pets.
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Replacement Reserve UsageUse replacement reserve funds for their intended purpose.
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Physical MaintenanceDon’t forget to schedule annual systems inspections.
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Processing a complaint
All complaints and responses must be in writing.
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Resolving Resident Conflicts
Don’t put yourself on the firing line
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Learning Section 42 of the IRCCAHEC’s compliance managers offer great “free” basic
training.
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Making units rent-readySchedule move-out inspections within one week of
receiving a notice to vacate.
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Dumpsters
Large upholstered items should be spray-painted with bright orange paint.
X
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Successful EvictionsProvide a comprehensive paper trail regarding all lease
violation notices and collection attempts.
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Initial qualification: Lease UpMaintain a lease up checklist so no detail gets missed and
the process moves forward in a timely manner.
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Calculating Annual IncomeUse the greatest online tool to annualize income:
www.timeanddate.com
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Managing StaffProvide detailed, written job descriptions and annual
performance evaluations.
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Date ConsistencyMove-in date, signature dates on the TIC and
lease/addendums should always match.
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Converting to a smoke free environmentSmoke-free properties have significantly less expenses.
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How to Value a HomeMarket value (appraisal)
minus mortgage(s)minus broker’s fees
CASH VALUE
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Rent Collection = Economic OccupancyMake personal contact with each resident who has not
paid by the 3rd of the month.
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Reducing Utility Expenses
Cut your light bills by installing occupancy sensor wall switches
in common areas.
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ADACommon problem for visually handicapped: Block open
staircases in breezeways with built in storage boxes.
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Resident RetentionAlways ask a resident “Why are you moving out?” You may
be able to keep a good tenant with a bit of extra attention or assistance.
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Market Value vs. Cash Value of AssetsInclude early withdrawal penalties, bank fees and any loans
against a retirement account to determine its cash value.
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Pre-screening for EligibilityDevelop a simple eligibility questionnaire (no more than 5 income/asset related questions) that can be used over the
phone or in person.
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Assessing Damage ChargesHave a written fee schedule listing damage charges to help enforcement of the lease and collect repair costs.
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Fair Housing
Request for reasonable accommodations must be reasonable.
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Time Management
Written “To Do” lists keep you focused on goals, achievements, and priorities.
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Lease Enforcement
“Quiet and peaceful enjoyment” is one lease clause that’s taken very seriously….
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Hiring Strategies
Seek “people” people
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Section 504 of the Rehabilitation Act of 1973
Know your property’s funding sources to determine if section 504 applies
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Defending a discrimination claimYour best defense against a fair housing lawsuit is documentation, documentation, documentation!
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Effective Signage
Create a “Welcome Home” message
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Proper DocumentationThoroughly documented tenant files are required on all households
during the 15 year compliance period.
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Rent ChangesCompare your competitor’s rents & amenities before
implementing a rent increase.
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Re-CertificationsCAHEC allows recertification waivers for residents living in
100% LIHTC projects after the initial and first annual certification has been obtained.
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Unauthorized Household MembersAny guests residing in a unit for longer than two weeks
must have written approval from management.
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File AuditsDuring lease-up, make copies of initial tenant files as you rent each unit. Submit them to CAHEC when each building is fully
qualified.
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Bedbug remediationIn general, chemical treatments don’t work to eliminate
bedbug infestations, however HEAT & COLD is very effective.