Retaining residents is a top priority for apartment operators, no matter the time of year or state of the economy. But with falling rent rates, rising concessions and even the extended homebuyers’ tax credit tempting residents to pack their bags for a better deal at the end of their leases, savvy apartment management firms are honing their retention strategies.

How difficult is it to get your child, your pet, your best friend or family member to smile and say “cheese” for the camera. The person blinks, a hair is out of place, their smile looks weird or their shirt has a spot on it. Even when the setting is right, there’s still the chance the camera is out of focus.

Times, as they say, they are a changing… and in our world in the multifamily industry, we are definitely not immune to the changes around us. Apartment industry professionals are expected to stay on top of federal, state and local laws and regulations.

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced this week that nearly 200 apartment units in New York City will become more energy efficient as the result of $3.6 million in funding being awarded to Jonathan Rose Companies, a New York-based property owner and developer. It is the first award to be announced under HUD's new Green Retrofit Program for Multifamily Housing, created through the American Recovery and Reinvestment Act of 2009.

Brent Sobol is no stranger to crime. He fights it on a daily basis at the 1,100 apartment units he owns and operates in the Atlanta area.

Wyndchase Apartments Service Manager Julie Lehman, CAMT, credits her commitment to education for her advancement through the ranks of maintenance positions in the apartment industry.

The consistently incredible service and attitude I experience when I visit my local Lowe’s hardware store has earned my loyalty. What do they do that is so special? What is the impact? Does your staff have a world class attitude and deliver award winning service? Given today’s challenging market, can you afford to not be providing the greatest level of service ever? No, not given the huge impact turnover has on NOI and asset value...great service protects your revenue!

Even though Meredith Ginter lives on the sixth floor of a high-rise, she’s only steps from her parking space. Ginter’s unique situation is the result of an uncommon parking arrangement at her Charlotte apartment community, the 310-unit Ashton South End. The building’s parking garage extends six and a half stories high from the basement level and includes secured-access, double-glass-door entrances on each of the first six floors.

Unfortunately, the H1N1 epidemic is here and everyone needs to be prepared. For apartment owner/operators this means implementing risk mitigation strategies and contingency plans centered on outbreak prevention and sustaining operations. These simple steps can help mitigate the financial risk associated with an H1N1 occurrence at your property.

Do you ever get the feeling that the financial news is coming to you in a different language? Alex Blumberg and Adam Davidson of NPR’s Planet Money recently had a clever take on 2009’s financial news. As Blumberg points out in the story, when a big bank or real estate company borrows millions or billions of dollars, we don’t call it borrowing money. We call it accessing credit or liquidity. But no matter what terms they used, REIT executives and real estate investors this year were really saying one simple thing: No one will lend us money.

I seem to get asked to forecast one thing or another every day by clients, employees, lenders, appraisers and prospective clients. Sometimes it feels like I need a crystal ball to find an answer. Everyone wants a forecast that fits into his or her particular real estate project: builders want to build, bankers want to lend, condo converters want the market to improve yesterday and onsite staff wants to know when they can expect to get a break from the proverbial hot seat...When I look at our overall multifamily housing portfolio and review the past 12 months, it looks to me as if we are definitely in a recovery phase today.

There’s no argument that maintenance technicians are important players in the game of apartment community management. And when vital regulations are handed down from federal agencies, it is often the staff in the maintenance shop who are the most affected.

Screening companies have tried to deal with the underbanked by injecting non-traditional credit information such as cell phone bills, utility bills and yes, rental payments, into the screening process...But now there’s a new twist. I came across an article recently about a company that is now assessing a person’s credit risk by analyzing their Facebook friends!

On Monday the Environmental Protection Agency (EPA) took steps to issue regulations on greenhouse gases. This would enable the administration to limit emissions across the economy even if Congress does not pass so called “cap and trade” legislation.

We know pet friendly communities can attract more prospects considering 63 percent of American households own a pet. Once those pet-loving prospects become residents, a great retention tool is to offer an amenity for their animal. And for an extra layer of risk management for the community, why not offer residents a pet insurance policy?