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Socializing with Residents Its great to be friendly with your residents, but its risky to be FRIENDS. 1.

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Presentation on theme: "Socializing with Residents Its great to be friendly with your residents, but its risky to be FRIENDS. 1."— Presentation transcript:

1 Socializing with Residents Its great to be friendly with your residents, but its risky to be FRIENDS. 1

2 Social Media Even well-intended opinions can come back to haunt you and your company. 2

3 Talking to the Media Keep it simple and state only the FACTS! 3

4 How to properly answer the phone Your telephone voice will be the first impression a person makes about your property. 4

5 Budget Control If you havent seen your propertys budget, ask for it. 5

6 Security Have a zero tolerance policy about breaching security: respond immediately if you determine someone is propping a door open or disabling cameras 6

7 Safety Procedures Start with a written disaster preparedness plan. 7

8 Written Policies Have all leasing policies in writing and approved BEFORE leasing ANY units. 8

9 Effective Rent Incentives You can create priceless rent incentives that cost a lot less than discounted rent, just by being creative. 9

10 Resident Supportive Services Get FREE money and lifestyle enhancements for your residents 10

11 Curb Appeal/Landscaping Greening up the grass doesnt cost money, it MAKES money! 11

12 Marketing/Leasing Written ads do not lease properties, people do So, how do you attract the PEOPLE? Become a Professional Greeter 12

13 Maximizing First Year Tax Credits Lease up on a building by building basis whenever possible. 13

14 Gangs & Drugs Be responsive to tenant complaints of late night noise or high-traffic apartments. 14

15 How to correct a mistake Never use white out on documents in a tenants file 15

16 Unit Inspections Ask contractors to report unit conditions to you. 16

17 Live-in Aides Use a lease addendum which denies occupancy to a live-in aide after a resident is no longer living in the unit. 17

18 Preventative Maintenance A written preventative maintenance plan should be maintained and posted. 18

19 Health & Safety Issues Remove all aluminum foil from the stove top and oven. 19

20 Correcting Non-Compliance Non-compliance must be corrected prior to receiving notification of an audit or inspection from the allocating agency. 20

21 Obtaining contractor bids Bids from three (3) contractors are expected, however the lowest bid isnt always the best bid. 21

22 Capital Improvements Maintain a short and long-term list of replacements and improvements including costs and funding sources. 22

23 Reading a credit report Credit reports give you much more than credit history – verify all personal data! 23

24 Establishing effective relationships To make a positive impression, develop your advanced listening skills. 24

25 Crime Prevention Adequate lighting both internally and externally is a great crime deterrent. 25

26 Keeping the kids busy during the summer Take advantage of CAHECs Youth Recognition Program 26

27 Pet Control 27 Walking your property can reveal signs of unauthorized pets.

28 Replacement Reserve Usage Use replacement reserve funds for their intended purpose. 28

29 Physical Maintenance Dont forget to schedule annual systems inspections. 29

30 Processing a complaint All complaints and responses must be in writing. 30

31 Resolving Resident Conflicts Dont put yourself on the firing line 31

32 Learning Section 42 of the IRC CAHECs compliance managers offer great free basic training. 32

33 Making units rent-ready Schedule move-out inspections within one week of receiving a notice to vacate. 33

34 Dumpsters Large upholstered items should be spray-painted with bright orange paint. X 34

35 Successful Evictions Provide a comprehensive paper trail regarding all lease violation notices and collection attempts. 35

36 Initial qualification: Lease Up Maintain a lease up checklist so no detail gets missed and the process moves forward in a timely manner. 36

37 Calculating Annual Income Use the greatest online tool to annualize income: 37

38 Managing Staff Provide detailed, written job descriptions and annual performance evaluations. 38

39 Date Consistency Move-in date, signature dates on the TIC and lease/addendums should always match. 39

40 Converting to a smoke free environment Smoke-free properties have significantly less expenses. 40

41 How to Value a Home Market value (appraisal) minus mortgage(s) minus brokers fees CASH VALUE 41

42 Rent Collection = Economic Occupancy Make personal contact with each resident who has not paid by the 3 rd of the month. 42

43 Reducing Utility Expenses Cut your light bills by installing occupancy sensor wall switches in common areas. 43

44 ADA Common problem for visually handicapped: Block open staircases in breezeways with built in storage boxes. 44

45 Resident Retention Always 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. 45

46 Market Value vs. Cash Value of Assets Include early withdrawal penalties, bank fees and any loans against a retirement account to determine its cash value. 46

47 Pre-screening for Eligibility Develop a simple eligibility questionnaire (no more than 5 income/asset related questions) that can be used over the phone or in person. 47

48 Assessing Damage Charges Have a written fee schedule listing damage charges to help enforcement of the lease and collect repair costs. 48

49 Fair Housing Request for reasonable accommodations must be reasonable. 49

50 Time Management Written To Do lists keep you focused on goals, achievements, and priorities. 50

51 Lease Enforcement Quiet and peaceful enjoyment is one lease clause thats taken very seriously…. 51

52 Hiring Strategies Seek people people 52

53 Section 504 of the Rehabilitation Act of 1973 Know your propertys funding sources to determine if section 504 applies 53

54 Defending a discrimination claim Your best defense against a fair housing lawsuit is documentation, documentation, documentation! 54

55 Effective Signage Create a Welcome Home message 55

56 Proper Documentation Thoroughly documented tenant files are required on all households during the 15 year compliance period. 56

57 Rent Changes Compare your competitors rents & amenities before implementing a rent increase. 57

58 Re-Certifications CAHEC allows recertification waivers for residents living in 100% LIHTC projects after the initial and first annual certification has been obtained. 58

59 Unauthorized Household Members Any guests residing in a unit for longer than two weeks must have written approval from management. 59

60 File Audits During lease-up, make copies of initial tenant files as you rent each unit. Submit them to CAHEC when each building is fully qualified. 60

61 Bedbug remediation In general, chemical treatments dont work to eliminate bedbug infestations, however HEAT & COLD is very effective. 61

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