Apartment Management Compliance and Profitability Guide

Apartment Management Compliance and Profitability Guide is an, industry resource that gives apartment building managers and owners (and the professionals who advise them) the answers to questions concerning some of today's most pressing property management issues. Apartment Management Compliance and Profitablity Guide provides real estate professionals with straightforward advice for handling such issues as:

• Conducting prudent and legal screenings of prospective tenants, while improving relations with existing tenants
• Learning better lease-writing techniques and how to enforce lease terms more effectively
• Skillfully dealing with independent contractors and employees
• Averting fair housing violations and discrimination claims, and staying in compliance with all federal regulations
• Using technology as a marketing tool to attract new tenants
• Knowing how to conduct renovations, implement more security, and add amenities
• Confronting insurance and liability issues, while implementing sound risk management practices

Apartment Management Compliance and Profitability Guide is filled with practical pointers, common-sense suggestions and working tools (e.g., industry-tested lease language, resident forms, and letters) that that managers can put to immediate use. It provides more than 125 model tools—forms, lease and contract clauses, letters, checklists, and more —which you can use as is or adapt. For your convenience, we've included those model tools on a free, companion CD-ROM.

 

Apartment Management Compliance and Profitability Guide is chock full of information that will enable you to answer an array of questions on topics such as legal issues, management, compliance, technology, and marketing—from enforcing leases to collecting rent, attracting new residents, and preventing crime—in straightforward, clearly understandable terms. Topics covered include:

• Applications and Resident Screenings
  
• Lease Clauses and Enforcement
  
• Leasing Consultants and Contractors
  
• Employees and Employee Relations
  
• Resident Relations
  
• Move-In, Move-Out Procedures
  
• Security Deposits
  
• Pets
  
• Crime and Security
  
• Fair Housing and HUD
  
• Hazardous Conditions and Environmental Issues
  
• Maintenance and Repairs
  
• Rent and Rent Collections
  
• Amenities and Non-Rent Revenue
  
• Renewals
  
• Eviction
  
• Insurance, Liability, and Risk Management Issues
  
• Marketing and Advertising
  
• Technology and Telecommunications

 

Apartment Management Compliance and Profitability Guide includes a wealth of tips, ideas, and solid best practices, making it a must-have in any apartment building manager's or owner's library.

 

For additional information and content, visit www.apartmentmanagementinsider.com    

 

CHAPTER 1: APPLICATIONS AND RESIDENT SCREENINGS

• How to Use Online Resident Screening Effectively
• How to Hire a Good Resident Screening Company
• Put Rental Policy in Writing to Head Off Discrimination Lawsuits
• Ask About Criminal Background to Screen Out Sex Offenders
• Revise Screening, Credit Reporting Procedures to Comply with Federal FACT Act
• Accept Individual Taxpayer ID # from Prospects Who Do Not Have SSN
• Screen Out Bad Applicants by Asking Rental References the Right Questions
• HUD Memo Clarifies Post-9/11 Screening Rules, Fair Housing Basics
• Take Six Steps When Renting to Voucher Prospects
• Send Proper Adverse Action Notices to Comply with FCRA

 

CHAPTER 2: LEASE CLAUSES AND ENFORCEMENT

• Hike Occupancy by Varying Lease Lengths
• Security Deposit Alternative Helps You with Cash-Strapped Prospects
• Attract Students with Leases Tailored to Their Needs
• Hook Reluctant Prospects, Cut Skips with Early Termination Option
• Train Consultants to Close Leases with Effective Follow-Up Calls, Emails
• Cut Free-Rent Risk with Resident Payback Policy
• Maximize Income by Setting Rents Based on Five Percent Vacancy Method
• Maximize Benefits, Avoid Confusion over Automatic Lease Renewal
• Consider Legal Issues, Add 'Buy-Out' Clause Before Offering Long-Term Leases
• Give Yourself Flexibility on Whether to Keep Resident Alterations
• Get Right to Collect for Apartment Damage Mid-Lease
• Get Tough on Residents Who Skip Out with Rent Acceleration Clause
• Get Residents to Pay Your Attorney's Fees
• Avoid Enforcement Problems When Adding Rider to Form Lease
• Rescue Your Right to Enforce Overlooked Lease Violations
• Keep Residents 'Guests in Line with Guest Rules Lease Addendum
• Require Residents to Change Light Bulbs for Fixtures and Appliances
• Congress Changes Service Members' Housing Rights
• Hook Reluctant Prospects, Residents with Move-Out Protection Plan
• Three Strategies to Overcome Prospects' Objections to Lack of Storage Space
• Take Two Steps to Protect Cash Flow When Accepting Credit Card Rent Payments
• Include Clause in Lease Giving You Right to Enforce Community Rules
• How to Decide Whether Requirements Belong in Leases or Community Rules
• Set Up 'Resident Bucks' Program that Rewards Residents Throughout Lease Term

CHAPTER 3: LEASING CONSULTANTS AND CONTRACTORS

• Use Leasing Team Bonuses to Boost Renewals
• Four Creative Ways to Find Good Leasing Consultants
• Seven Questions to Answer When Shopping Leasing Consultants' Internet Skills
• What to Look for When Hiring a Contract Leasing Company
• Boost Leasing Staff's Productivity by Using Call Center
• Keep Residents Safe When You Use Outside Contractors
• Require Contractors to Defend and Indemnify You for Their Fair Housing Mistakes
• Take Steps to Avoid Liability Before Contractors' Employees Get Injured
• Seven Key Protections When Hiring Snow Removal Contractor
• Ask 10 Questions Before Choosing a Mold Remediation Contractor
• Insist on Progress Payments and Retainage Clause in Contract
• Make Sure Contractor's Insurance Protects You
• Train Leasing Consultants to Deal with Potentially Dangerous Prospects
• Request Cost Breakdowns for Various Contracting Jobs

CHAPTER 4: EMPLOYEES AND EMPLOYEE RELATIONS

• How to Choose a Good Management Company
• What a Good Management Report Should Include
• Add Nine Key Protections to Your Employee Lease Addendum
• Use Shopping Service to Test Leasing Consultants' Fair Housing Compliance
• Set Fair Housing Code of Conduct for Maintenance Staff
• Comply with Federal Law Protecting Employees on Active Military Service
• How to Offer Rent Discount to Employees
• Set Rules on Employee Use of Internet, Email

CHAPTER 5: RESIDENT RELATIONS

• Use Staff Focus Groups to Keep in Touch with Community
• Use Maintenance Staff to Boost Resident Retention at Move-In, Renewal
• How to Keep Residents Happy During Renovations
• Use Staggered Rent Increase to Painlessly Raise Rents When Market Rebounds
• Get Right to Move Residents with Dogs to Accommodate Other Residents
• Avoid Resident Disputes When Submetering Water
• How to Handle Residents Who Create Offensive Odors
• Train Staff on How to Handle 'Resident Rage'
• How to Get Departing Residents to Let You Show Their Apartments to Prospects
• Find Out What Residents Really Want with 'Forced-Priority' Survey
• Retain Residents with Home Buyer's Program
• Retain Residents with Apartment CARES Program
• Increase Rent Collections by Allowing Weekly Payments
• How to Cut Risks When Accepting Packages for Residents
• Four Strategies to Better Communicate with Non-English Speakers
• Use Tough Lease Addendum to Set No-Smoking Policy
• Take Four Steps When You Learn of Sex Offender in Your Community
• What to Do if You Find a 'Meth' Lab at Your Community
• 12 Easy, Low-Cost Upgrades to Make Apartments More Attractive
• Notify Residents of New or Revised Community Rules
• Management Challenges of Aging-in-Place Communities
• Owner Liability for Criminal Acts and Activities
• Protect Common Areas with Delivery Deposit
• Set Emergency Maintenance Procedures to Avoid Damage, Confusion
• Earn Extra Revenue, Retain Residents with Door-to-Door Trash Pickup

CHAPTER 6: MOVE-IN AND MOVE-OUT PROCEDURES

• Hold Keys Until New Resident Turns On Utilities, Puts Name on Account
• Reduce Noise Disturbances and Damage with Moving Rules
• Move-In Procedures that Make Good First Impression on New Residents
• Prevent Move-Out Problems by Setting Procedures for Staff to Follow
• How to Survey Move-Outs for Ways to Improve Community
• Reduce Security Deposit Disputes by Detailing How Residents Must Leave Apartment

CHAPTER 7: SECURITY DEPOSITS,WEAR AND TEAR

• Take Three Steps When Resident Tries to Use Security Deposit to Pay Final Month's Rent
• How to Apply Security Deposit When Damages and Unpaid Rent Exceed It
• How to Settle Security Deposit Disputes
• Make Residents Responsible for Misuse or Abuse of Appliances

CHAPTER 8: PETS

• Add 11 Rules to Plug Loopholes in Your Pet Rules
• Make Sure Pets Fill Out an Application, Too
• Avoid Pet Problems by Sending Letter Reminding Residents of Their Responsibilities
• Reduce Pet Waste, Increase Curb Appeal at Pet-Friendly Communities
• Use Pet-Friendly Policies to Increase Occupancy and Make Money

CHAPTER 9: CRIME AND SECURITY

• Train Staff to Look for Warning Signs of Criminal Activity Inside Residents' Apartments
• Keep Resident Information Confidential to Avoid Harm and Liability
• Keep Loose-Lipped Employees from Making You Liable to Crime or Accident Victims
• Use Lease Addendum to Evict Residents for Criminal Activity
• Require Absent Resident's Authorization Before Giving Visitor Access to Apartment
• Take Seven Steps to Reduce Loitering at Your Community
• Take Five Steps to Rid Your Community of Graffiti
• Use Lease Addendum to Document that Resident Has Refused Alarm System
• Avoid Liability for Lock Problems with Acknowledgment

• Burglar Alarm Acknowledgment Cuts Liability Risk
• Train Staff on How to Root Out Unauthorized Occupants
• Four Steps to Protect Yourself When Phony Cops Seek Access
• Mailbox Rule Offers More Security Against Stolen Mail
• Minimize Liability with New Surveillance Technology

 

CHAPTER 10: FAIR HOUSING AND HUD

• Who Is Protected by Fair Housing Laws?
• Avoid Three Pitfalls to Prevent Discrimination Complaints
• FHA Quiz: Test Your Understanding of the FHA
• Six Dos and Don'ts for Avoiding Fair Housing Trouble When Marketing
• Written Policy on 'Specials' Helps Avoid Fair Housing Trouble
• Do Not Place Ads Only in Newspapers Targeted to One Ethnic Group
• Train Leasing Staff How to Show Apartments Without Violating Fair Housing Law
• How to Reject Applications Without Violating Fair Housing Law
• Stop Discrimination Suits by Keeping Good Rental Application Records
• Five Tips for Dealing with Students Without Violating Fair Housing Law
• Train Staff Not to Discriminate on the Basis of National Origin
• Prevent Costly 'Linguistic Profiling' Claims with Leasing Consultant Training
• Avoid Disability Discrimination Claims by Training Leasing Consultants
• Train Staff to Avoid Fair Housing Problems When Dealing with Families with Children
• Train Staff to Avoid Discrimination Based on Source of Income
• Train Leasing Consultants on How to Avoid Discriminating Against Prospects with Mental Disabilities
• Resolve HUD Fair Housing Investigations Quickly, Inexpensively
• Set Up Sexual Harassment Complaint Procedure to Safeguard Your Community Against Liability
• Get Reasonable Accommodation Policies in Sync with DOJ, HUD Guidelines
• Train Staff on How to Properly Handle Modification Requests
• Use Written Agreement to Avoid Disputes over Reasonable Modifications
• Make Sure 'Places of Public Accommodation' in Your Community Comply with ADA
• Refer to HUD Web Site to Find Out How to Comply with FHA Design, Construction Requirements
• How to Handle Disabled Resident's Request for Accessible Parking Space
• Q&A: 12 Common Questions About Service Animals
• Weed Out Improper Requests for Companion Animal with Verification Form
• Keep Resident's Fair Housing Grievance from Becoming Formal Complaint or Lawsuit
• Appoint Staff Member to Act as 'Fair Housing Coordinator'
• Have Your Attorney Hold Fair Housing Seminar for Staff
• Q&A: Avoiding Trouble When Dealing with Disaster Evacuees
• Q&A: Fair Housing Concerns Regarding Children's Visits to Non-Custodial Parents

CHAPTER 11: HAZARDOUS CONDITIONS AND ENVIRONMENTAL ISSUES

• Create Emergency Procedures Manual to Prepare Staff for Emergencies
• Cut Disaster Damage with Map of Utility Shutoff Locations
• How to Comply with Lead Paint Rules When Renovating
• Avoid 11 Common Lead Paint Disclosure and Notification Mistakes
• Avoid Resident Harm, Lawsuits by Eliminating Mold
• Mold Cleanup—When to Do It Yourself and When to Call in the Experts
• Make Residents Responsible for Helping to Prevent Mold Growth
• Defend or Avoid Toxic Mold Lawsuit by Keeping Detailed Maintenance Records
• Recent Scientific Study Offers Owners Defense Against Mold-Related Lawsuits
• Cut Risk of Carbon Monoxide Poisoning by Giving Residents Safety Tips
• Set Rule Banning Non-Electric Space Heaters
• How to Make Your Community 'Greener'
• Install 'Green Roof' to Reduce Energy, Prolong Roof's Life

CHAPTER 12: MAINTENANCE AND REPAIRS

• Make Residents Pay for Apartment Damage They Cause
• Four Dos and Don'ts for Painting Your Community
• Try Three Proven Techniques to Rid Apartments of Tough Odors
• Set Picture-Hanging Standards to Prevent Damage and Injuries
• Train Staff on How to Respond When Passenger-Filled Elevator Breaks Down
• Use Spring 'To Do' Checklist to Get Your Community Ready for Summer
• Prepare for Winter with Fall 'To Do' List
• Four Tips to Prepare Boiler for Heating Season

CHAPTER 13: RENT AND RENT COLLECTION

• How to Handle Four Rent Check Mistakes
• Get Rent on Time with 'Early Bird' Incentives
• Keep Your Right to Full Rent While Accepting Partial Payment
• Eight Ways to Improve Your Late-Fee Policy
• Boost On-Time Rent Payments with Three-Tiered Late-Fee Formula
• Get Right to Demand Cashier's Check or Money Order When Rent Check 'Bounces'
• Get Late-Paying Residents to Pay Up with Legal Expenses Threat
• Make Sure Rent Demands, Related Court Papers Comply with Federal Law
• What to Do When Resident Withholds Rent Over Apartment Problem
• How to Collect Money Judgment from Ex-Resident's Bank Account
• Get Residents' OK to Use Credit Report if They Skip

CHAPTER 14: AMENITIES AND NON-RENT REVENUE

• Are You Licensed to Show Movies at Your Community?
• Go 'Green' to Save Money, Attract Residents
• Get Six Key Protections When Wiring Community for High-Speed Internet Access
• Attract, Retain Residents with Free Pick-Up/Delivery of Dry Cleaning
• How to Spot and Fix 15 Contractor Overbilling Errors
• Catch Electricity Bill Errors with Usage Form
• Cut Utility Costs and Other Expenses by Getting Bills Audited
• Negotiate Seven Key Contract Terms with Electricity Provider
• Save Money by Appealing Property Tax Assessment
• Save Money Each Year with Pre-Loved Carpet Program
• Conduct Water Usage Survey to Plug Up Leaky Water Bills
• Intelligent Buildings Save Owners Money
• Making the Most of Tax Deductions
• Earn Extra Revenue by Leasing Reserved Parking Spaces to Residents
• Team Up with Outside Storage Company to Avoid Hassles, Earn Extra Money
• Attract Prospects, Increase Revenue by Renting Out Common Rooms
• Set Guidelines if Offering Wall Color Choice
• Save Time, Maximize Revenue by Outsourcing Management of Your Ancillary Services

CHAPTER 15: RENEWALS

• How Far in Advance Should You Tell Residents About a Rent Hike?
• Maximize Renewal Efforts Using Staff Accountability, Renewal Log
• Give Residents Contractor Costs to Convince Them Not to Buy a House
• Consider Legal Issues, Add 'Buy-Out' Clause Before Offering Long-Term Leases
• Use 'Lease Renewal Guarantee' to Retain Reluctant Residents
• Offer Discount to Remaining Roommates When One Leaves
• 10 Tips to Help Cut Apartment Turnover Costs
• Keep Residents Longer with 'Silence-Is-Golden' Renewal Strategy
• Boost Retention with Renewal Rewards Program that Adds Value to Your Community
• Use Five-Step Program to Get Lease Renewals

CHAPTER 16: EVICTION

• Avoid Headaches by Giving Your Attorney Eviction Report Form
• Keep Evictions on Course with 'Proof of Service' Form
• Four Eviction Mistakes to Avoid
• Don't Let Accepting Rent Derail Your Eviction
• Use Application Lie as Ammunition to Evict Troublemaker
• How to Win Your Court Case Against a Noisy Resident
• Keep Ex-Residents on Hook for Posteviction Rent
• Comply with Federal Law Protecting Military Residents from Eviction
• Bankruptcy Law Benefits Apartment Communities
• Stay Vigilant to Minimize Resident's Bankruptcy Troubles

CHAPTER 17: INSURANCE, LIABILITY, AND RISK MANAGEMENT

• How to Bid Out Insurance Coverage to Lower Policy Costs
• Minimize Insurance Premium Increases with Smart Submission to Underwriter
• Are You Insured Against Mold-Related Lawsuits and Property Damage?
• Take Four Steps to Make Renter's Insurance Mandatory at Your Community
• How to Protect Yourself if Residents Stop Paying for Renter's Insurance
• Take Two Steps to Enforce Renter's Insurance Requirement
• Avoid Liability for Disabled or Malfunctioning Smoke Detector
• Use Common Area Rules to Protect Community and Reduce Risk of Liability
• Five Tips for Maximizing Parking Lot Safety
• Reduce Liability for Parking Lot Accidents and Crimes by Installing Traffic Calmers
• Avoid Liability for Parking Lot Disputes
• Avoid Injuries and Liability by Cracking Down on Wild Parties
• Set Eight Rules for Bicyclists to Avoid Liability, Improve Safety
• Avoid Liability, Safeguard Residents with Proper Key Control
• Act Promptly to Avoid Fines, Liability for Resident-Created Fire Hazards
• Ask Insurer to Carve Out Key Exception to Assault and Battery Exclusion
• Set Rule Barring Residents, Guests from Community's Roof
• Integrated Pest Management Offers Cost-Effective Pest Control Without Health Risks.
• Six Tips for Writing Effective Emergency/Disaster Plan
• Reduce Liability, Protect Against 'Foreseeable' Crime
• Owner Liability for Slip-and-Fall Accidents

CHAPTER 18: MARKETING AND ADVERTISING

• How to Improve Your Shopping Reports
• Rent Mall Kiosk to Use as Off-Site Leasing Center
• How to Get Referrals from Local Employers
• Increase Rents, Upgrade Resident Profile with Smart 'Repositioning'
• Get Prospects by Maintaining Good Relations with Departing Residents
• Increase Traffic with Raffle for Free Car Lease
• Attract Prospects, Boost Community's Image by Sponsoring Charity Event
• Market Vacancies Using Online Resources
• Use Online Clearinghouse to Market Accessible Apartments
• Generate Traffic with Five Proven Marketing Techniques
• Attract Residents, Boost Community's Image by Inviting Media Coverage
• Fill Vacancies by Offering Resident Referral Program
• Offer Frequent Flier Miles to Attract and Keep Residents
• Maximize Ad Dollars with Comprehensive 'Traffic Reports'
• Enhance New Resident Move-In Packets with Coupons from Local Merchants
• Two Strategies to Overcome Objections to Lack of Washer/Dryer Hookup
• Offer Satisfaction Guarantee to Attract Prospects to Your Community
• Market Your Community Better with Competitors' Information
• Attract Student Market Using Three Focus Areas

CHAPTER 19: TECHNOLOGY AND TELECOMMUNICATIONS

• 'Position' Your Web Site so Prospects Can Find It Easily
• Stand Out from Your Competitors by Offering Web-Only Discount
• Get Lease Protection if You Offer High-Speed Internet Access
• How to Negotiate Nine Key Terms of a Cable Contract
• Avoid Cable Removal Problems if Telecom Goes Bankrupt
• How to Limit Resident Satellite Dishes Under Federal Law
• Two More Steps to Protect Against Damage from Satellite Dishes
• Where to List Your Web Site Address to Attract Prospects
• Use Nine-Item Checklist to Maximize Your Web Site's Marketing Potential
• Attract Prospects, Retain Residents with Web-Based Maintenance Program
• Hook Prospects with Quick, Personalized Responses to Email Inquiries
• Email Marketing Gets Hit with Tough Restrictions
• Use Real-Time Apartment Availability Software to Offer Up-to-Date Information
• How to Respond to Unfavorable, False Reviews on Apartment-Rating Web Sites
• Find Qualified Contractors on the Internet
• Q&A: Limiting Residents' Right to Install Satellite Dishes &Antennas
• Use Privacy Policy to Encourage Web Site Interaction
• Controlling the Costs and Hazards of 'Electronic Document Discovery'
• New Cable Law May Force Property Owners to Change Strategies

 

 

 

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