The Apartment Man

Anonymous Property Manager sharing industry tips and information

[The Apartment Man @apartment_man]

@robbiehendricks @theficouple In my market, we have a PM company that already heavily uses AI. They really struggle with resident reviews & retention though when all there comps have live staff at comparable sites. I think they will for the foreseeable future need at least 1 live person on site.

[The Apartment Man @apartment_man]

@robbiehendricks @theficouple I can see many sites in the next couple yrs dropping to just a manager in the office, and maintenance. Leasing and assistant managers will be the first to go in my opinion.

[The Apartment Man @apartment_man]

@natehoodstp @UsesTransit It’s so rough that if St. Paul weren’t the capital, I’d argue that Bloomington is becoming the more relevant 2nd city with the airport, MOA, etc.

[The Apartment Man @apartment_man]

@UsesTransit St. Paul has to find a way to attract more people to live there, visit there, shop there etc., or they will continue the urban doom loop cycle that’s already beginning. No matter how much you raise property tax, if the principle number it’s based on is falling, it won’t do much.

[The Apartment Man @apartment_man]

@UsesTransit The main issue I see though is how?? The bottom fell out on St. Paul commercial property values(effects property tax). And similar to the issue St. Paul had with rent control, pass any additional tax and it’s way to easy for people to move, or shop suburban to dodge. (1/2)

[The Apartment Man @apartment_man]

@KrissBergTweets @CaseyMericle @TripleNNNick Done it before…actually, if you have direct outdoor access, it’s a micro townhome for studio prices. Found residents who smoke really like the direct outdoor access.

[The Apartment Man @apartment_man]

@TripleNNNick Make it an amenity to resy tenants, have retail customer parking available, charge basement level rent as if it is a coffee shop, bar, etc, it will increase your apartment rents.

But really, try to avoid putting it in whenever possible.

[The Apartment Man @apartment_man]

@seandsweeney @jayparsons My favorite is when the retail could be desperately needed garage parking, but instead sits empty for decades..quite literally. Literally hurts the residents who live there when it could help.

[The Apartment Man @apartment_man]

@NortonMpls Here’s an argument for you…with MOA airport proximity, and no freshly abandoned 16 story towers, I think Bloomington has overtaken St. Paul in relevance as the 2nd twin city…thoughts Mike?

[The Apartment Man @apartment_man]

@PropMgmtGuys The only non-housing credit line item I find to be somewhat accurate is auto loans. People pay their car notes and rent first

[The Apartment Man @apartment_man]

@PropMgmtGuys Income over credit 100% of the time. People pay their rent whenever possible. No one likes surprise moves, evictions etc. credit cards are a totally different story. Unsure why so much of the industry cares about credit.

[The Apartment Man @apartment_man]

@PropMgmtGuys When you need a manager and maintenance and only have 100 units, that cost per unit gets up there!

[The Apartment Man @apartment_man]

@PropMgmtGuys This. One time I went 6 months without a regional visit, my fellow PM’s would joke in a private group chat that they could not show for a week and no one would know. Don’t hire the leadership team that thinks they got a remote job the day they left the site level.

[The Apartment Man @apartment_man]

@seandsweeney I think a big part of successfully hiring and retaining property managers is choosing a firm that values their site employees. Sounds nuts, but some companies do not treat managers well, include them in on successes/failures, and provide career opportunities/training/etc.

[The Apartment Man @apartment_man]

@dig_deeper1 Any reason why evictions and foreclosures are so bad in AZ? Doesn’t seem to make sense to me why that city is so much worse than others with housing related delinquencies.

[The Apartment Man @apartment_man]

@MaplehoodUnited Might sound really dumb here…but care to fill me in as to why people care/make jokes about a relatively run down older office building…plenty of those around, but this one gets x attention for some reason. In need of a lesson as to why over here lol?????

[The Apartment Man @apartment_man]

@sdho Not a bright future for dingy worn out suburban office though.

[The Apartment Man @apartment_man]

@sdho In my opinion, currently in mpls, the future is bright for renovated high end suburban office. People love the free parking, safety, etc. see the normandale lake office park for an example.

[The Apartment Man @apartment_man]

@BillAckman I heard on another feed that military helicopters don’t have TCAS(traffic collision avoidance system). Meaning CRJ likely did not get a warning.

[The Apartment Man @apartment_man]

@realEstateTrent @L0stTr0jan Minneapolis Minnesota they are open!