Operations Insights: New Program Is a Winn-Win for Owners Looking to Retrofit

 

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An Essential Resource for Maintenance & Operations Professionals • August 2013

 
New Program Is a Winn-Win for Owners Looking to Retrofit
WinnCompanies this summer launched the Open Market ESCO, a $9 million pilot program that will finance energy-efficient retrofits for low-income housing without apartment owners having to pay for the upgrades. As Vice President of Energy and Sustainability at WinnDevelopment, Darien Crimmin has played a big role in the implementation and early success of the program. The five-year company veteran sat down with Operations Insights recently to talk about this effort.
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Top Performing Secondary Markets in 2013  
Such factors as cap rate compression and price appreciation are making it difficult for apartment investors to break into the country's biggest, top-performing markets. That is why MPF Research looked at the nation's secondary markets -- those markets outside the top 100 that typically have between 25,000 and 85,000 apartment units -- to gauge their multifamily housing performance halfway through 2013. The firm singled out five metros of this size that clearly stood above the rest in that they all ranked in the top five of annual revenue growth and annual rent change.


Brigadoon Fitness- SidebarAug13

Bartering for a Lower Pet Deposit
A recent Rent.com poll of 500 U.S. apartment residents with pets found that 48 percent said the pet deposit was their "biggest headache" when moving with a household animal. However, pet deposits can be negotiable depending on the owner. Residents have found that the best way to barter for a lower pet deposit is to build the owner/manager's comfort level. There are four ways this can be done.

MD Smoke Detector Law Enacted
A new Maryland law went into effect this summer that requires apartment managers to have ten-year, sealed smoke alarms installed by 2018. The smoke detectors, which have lithium-powered alarms, feature a hush function that will quiet the alarm without removing the battery. According to the United States Fire Administration, roughly three-quarters of fatal fires occur in residences without a smoke alarm or working smoke detector.

Spray Polyurethane Foam Makes Apartment Roofs Cooler
Apartment owners and managers may want to consider a spray polyurethane foam (SPF) application when dealing with a roof in need of repair. Proponents describe a spray foam roof as a three-in-one product. It not only waterproofs and insulates, it gives a building structural rigidity for a much lower cost than a complete replacement of the roof system. Such applications can not only fix leaking problems, they can make roofs significantly cooler because the SPF and coating reflect off the radiant heat. Click below for an example of how SPF worked for one Connecticut-based apartment management firm.

Featured Jobs
Maintenance Technician
Pinnacle
NV – Las Vegas
Your job is vital to the satisfaction of our residents because appearance of the property and maintenance operations is one of the biggest reasons residents choose a Pinnacle managed property to call home. At Pinnacle, we value our Maintenance Staff, provide career training, and a clear career path for individuals who are looking for advancement opportunities.

Regional Property Manager
Lincoln Military Housing
CA – San Diego
The Regional Property Manager is directly responsible for providing the highest standards of management of properties within their area.

Operations Trainer – Midwest
Steadfast Companies
Various Locations
Steadfast is currently seeking an outstanding professional to be part of the Company’s Training team, to leverage their experience in a fast-growing and multi-faceted business. The Operations Trainer will lead and participate in the design, development, maintenance and delivery of training curriculum, and have leadership responsibility over training in the Midwest region.

Business Manager
Pinnacle
Fl – Pensacola
As a Business Manager at Pinnacle, youll put your outstanding leadership and savvy business skills to work at one of the most respected apartment companies in a management opportunity that offers real leadership, innovation and support. Our Business Managers are the cornerstone of our team.
 

Attend the 2013 Apartment Revenue Management Conference & Get the Skills to Raise Your Revenue to the Next Level
Access the insider's guide to superior asset operations, revenue management, and yield optimization in the multifamily industry at the 2013 Apartment Revenue Management Conference featuring Hyatt Hotels Senior Vice President of Revenue Management Greg Cross. Don't miss Cross, or any of the additional 14 education sessions and networking roundtables designed to re-optimize your approach to pricing, asset management, and improved apartment revenue. Register today for the 2013 Apartment Revenue Management Conference being held Sept. 23-25 at Turnberry Isle, Miami.
 
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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Event Highlights

NAA Turns 75: Looking Back, Looking Forward

NAA Turns 75: Looking Back, Looking Forward  

Yep, we made it: 75 years. Industry luminaries take a look at how far we've come and where we are heading. Learn more.Wish a happy birthday on social media.