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.

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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.