NAA Operations Insights: How Benchmarking Helps Your Performance

 

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An Essential Resource for Maintenance & Operations Professionals • March 2014

How Cottonwood Residential Rides the Benchmarking

Cottonwood Residential has emerged as a leader in the use of competitive sets in benchmarking performance. Such "comps" can help apartment property managers with single-asset, community, and portfolio performance. We sat down with Cottonwood's Senior Vice President of Property Management Debra Spohn to discuss this very topic, and she provided some interesting insights.

Four Keys Every Owner Needs to Hold

There are four things every apartment owner needs to know in order to achieve success. One, create a business plan with an operating budget. Two, hire the right people. Three, prepare for the unknown by protecting your asset. Finally, know what marketing and leasing vehicles will deliver the "biggest bang for your buck." The article's author elaborates on each of these four points.

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Owners Keep Tabs Via Email

In Oregon, the Corvallis Police Department and area apartment owners and managers are working on a new tool that will hopefully make it easier to keep tabs on problem residents. Apartment managers currently have access to weekly data on special response notices and a bi-weekly list of chronic nuisance property issues at Corvallis addresses. The new system would email apartment owners and managers, almost in real time, when such events occur.


Next Big Splash: Rooftop Pools

Apartment developers in Wisconsin and elsewhere are offering more and more amenities to attract young urban professionals looking to live in downtown districts. Rooftop swimming pools are emerging as one of the most popular bonuses. While some may be surprised that such an outdoor amenity could be a selling point in cold, frigid Wisconsin, architect John Sutton remarks, "Where are the social spaces you can create? The rooftop is something that is often ignored. It gets a lot of light. It just seems natural to create a rooftop terrace, even in Wisconsin."


Gun Law Has Ill. Apartment Owners Looking for Cover

Illinois' new conceal carry law is now in effect, allowing private property owners to prohibit handguns on their premises. However, apartment owners and managers in the state are trying to figure out how to deal with the prospect of residents and visitors legally toting guns. Gun rights supporters contend that apartment owners and managers should not be permitted to prohibit those who rent from keeping a legal firearm for self-defense. Mark Kexel, Titan Security's vice president of operations, recommends that all apartment owners craft a detailed policy addressing this matter.

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Featured Jobs

VP, Operations
WinnResidential

MA-Boston
The VP, Operations is an exciting opportunity to join WinnResidential, a Top-10 property management company. This is a newly-created position, reporting to the Chief Operating Officer. The VP Operations will oversee affordable housing compliance, operational quality control as well as WinnResidential marketing and customer service functions. As a key member of leadership, successful candidate will lead a team that partners with property operations ensuring excellent execution and quality of service.

Regional Operations Trainer
IMT Residential

CA-Sherman Oaks
The Regional Operations Trainer will organize, schedule and enthusiastically facilitate engaging training sessions in support of business objectives for our property associates. Most sessions will be taught classroom style and some will be utilizing elearning channels to deliver operational procedures and software skills curriculum. The Trainer can be located in Los Angeles, CA; Dallas, Houston or Austin, TX; or Orlando, Tampa or Southeast FL.

Facilities Management Team Leader
Hospice of Western

OH-Cleveland
Under general direction, plans, organizes, directs and manages facility services including building maintenance and repair, supervision of staff, and coordination of contractual entities providing building and landscaping services. Oversees and monitors the operations of other areas such as lease contracts, project renovations, energy management and other areas as assigned.

Residential Property Manager
Gables Residential

TX
Keen intelligence and business smarts are required for the position’s main aim: producing the highest possible net operating income of the community under your supervision. Your varied responsibilities include implementing cost-control and revenue improvement programs as well as developing annual operating budgets and sales and marketing plans. Your enthusiasm, leadership and managerial skills are essential for motivating, supervising and training your staff with group sessions to keep members up-to date on the latest advancements.

 

2014 NAA Income and Expense Survey Now Open  
It's a win-win when your Company participates in the 2014 NAA Survey of Income & Expenses in Rental Apartment Communities. No other single source of apartment industry specific economic analysis can provide as valuable, accurate financial and benchmarking information. Participate this spring and receive a free copy of the results.
NAA logo The National Apartment Association (NAA) is America's leading advocate for quality rental housing. NAA's mission is to serve the interests of multifamily housing owners, managers, developers and suppliers and maintain a high level of professionalism in the multifamily housing industry to better serve the rental housing needs of the public.

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What Executives are Saying: NAAEI Leadership NOW Program

Learn what Executives are saying about the NAAEI Leadership NOW program  

NAAEI has partnered with Gallup to offer the NAAEI Leadership NOW Program, where executives learn how to maximize your people and solve current business challenges by driving employee engagement....