In this podcast, you’ll learn:
- As syndicators, we are responsible to our investors
- Asset Managers are serving both residents and investors
- A great Asset manager is good with people and numbers
- “We just don’t buy apartment buildings, we buy a community”
- As a Property Manager, you should:
- Take care of showing the property when there is a vacancy
- Receives the applications which become leases
- Vet the tenants to make sure they meet the qualifications
- Move-ins and move-outs
- Turnovers and renovation
- Be responsible to deliver the numbers
- Keep the books and Inputs data in the company software
Asset Management Models
- Monday Morning Report (MMR) – details about economic occupancy, delinquency, number of repairs and services, numbers of NTV (Notice to Vacate), and current occupancy.
Leads and Leases Report: (LASAL SYSTEM)
L-tracking incoming Leads
A-Appointments that were generated from the leads
S-the actual people that Showed up to the appointments
A-how many people gave the Application
L-how many people got approved for the Leases
- Why check the Ratio from Leads to Appointments?
- The reason why “Numbers Don’t Lie”?
CAPEX Tracker – a report where you can see unit numbers that are up, what size they are when they became vacant when they started working on the unit when they finish it, and the budget.
How to find the best property management company
- Narrow down the best property management company in your area
- Interview them in detail that corresponds to what you’re looking for
- Open to your company’s system