5 Surprising Facts About Renters

by Scott on February 22, 2017

There’s always something more to learn as a property manager. Whether you’re mastering the art of pool maintenance or keeping up with the latest tech trends, there’s room for improvement for even the most experience among us. That’s why we’re honing in on five things you might not know about the average tenant. A survey conducted by Multifamily Executive reveals a number of surprising facts about renters.
Young renters don’t expect to own a home for a long time. Given that Millennials came of age during the recession, this one shouldn’t be too surprising. One thing that is? The fact that the same group sees themselves as renters by choice.
Renters want to upgrade. The next generation of rental properties include full gyms, convenience stores and cafes, making home a one stop shop for all their needs.
Parking isn’t optional. Just five percent of the survey takers said they don’t have a car.
They work from home – or close by. The average commute time is less than half an hour.
They’re willing to pay for green living. Walk scores, electric car charging stations and low flow toilets are all great – as long as they work as intended.
– Scott Safadi, Cal Bay Property Management

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Managing Your Community’s Online Reputation

by Scott on February 14, 2017

Do you know what people are saying about your community? You should.
In this day and age, there’s no excuse to remain ignorant – or to bury your head in the sand – about what’s being said about your rental property. The internet has given the people a platform to have their voices heard. Though democratic, this is also incredibly dangerous. Companies big and small have seen the damage one Twitter user can do to their brand. You can’t prevent bad reviews entirely, but you can get in front of them.
The best way to stop bad reviews from being written about your property? To nip problems in the bud before an angry resident can take to their keyboard. That’s why surveys are so valuable. Every time you interact with a resident – be it a maintenance visit or a social gathering in the community’s clubhouse – you should offer them a chance to give you feedback. Not only will you stay aligned with your tenants wants and needs, you’re giving them the chance to voice concerns privately. Keeping these surveys private is the key to your success!
– Scott Safadi, Cal Bay Property Management

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4 Signs You’ve Found a Great Tenant

February 8, 2017

When you’ve got a vacancy, it’s tempting to fill it as quickly as possible. Resist the urge to approve the first applicant who shows interest. Waiting for the right tenant is worth it! Here are four signs you’ve found a great one: 1. They’ve got a good credit score. It’s nearly impossible to fake a […]

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Tips for Preventing Burglary

February 1, 2017

How likely is it that a break-in will occur on your property? Burglaries occur virtually everywhere. No matter how safe your property might be, there are things you – and your tenants – should be doing to prevent break-ins. Here’s a few of our favorite tips: 1. Beef up security. Do your units have deadbolts? […]

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Security Deposits: How Much is Too Much?

January 25, 2017

Security deposits are a great tool for landlords. Not only do they allow you a safety net if a tenant runs out on their rent, it also provides a basic reliability test for new renters. If a new tenant can put up several months rent in advance, chances are good they can be trusted to […]

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3 Apartment Marketing Trends You Need to Try

January 18, 2017

It’s the start of a new year, and many of us are searching for exciting marketing trends to stay relevant in 2017. While there’s no need to reinvent the wheel, staying abreast of the latest tools, tricks and tips is something every great property manager should try. Here are three easy ways to get started. […]

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Tenant Appreciation: How to Thank Your Most Loyal Customers

January 11, 2017

Reward programs are everywhere these days. You can’t fill up your gas tank or buy a cup of coffee without earning an airline mile or cash back. Why should your property management company be any different? Even if you can’t offer tenants a “pay six months rent and get one month free” style deal, there […]

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Friends vs. Friendly: Should You Befriend Your Tenants?

January 3, 2017

Getting on good terms with your residents can be great both personally and professionally. It’s always good to have cordial, friendly interactions with people you’re doing business with. But what happens when that cordiality turns into actual friendship? It can be hard to resist a relationship with a person you see frequently and with whom […]

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Renting to Elderly Tenants: What You Should Know

December 29, 2016

A tenant is a tenant, right? Wrong. When renting to seniors, you have to have all your bases covered. At Cal Bay Property Management, elderly residents can make for some of the best tenants, but they have special needs that have to be taken into consideration. Here are some things to keep in mind… 1. […]

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Improve Your Property Website: Start a Blog

December 21, 2016

You’ve got a million things to do: starting a blog for your property’s website probably isn’t at the top of your to-do list. After all, visitors to your site are looking for information about your community, not for the writing of you or your staff, right? Blogging couldn’t possible generate any real leads, right? Wrong. […]

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