Article | February 11, 2020
The pursuit of exceptional people in today’s competitive commercial real estate market is a challenging proposition. DFW has a wealth of talent who could work at any number of prestigious real estate firms. So, what sets one global commercial firm apart from the next? How do we attract and keep the best in the industry to better serve our clients?
Article | March 24, 2020
As we come to a close on the first week that most of us in the US are self-quarantining due to the COVID-19 outbreak (also known as coronavirus), we’ve already begun to feel the effects on the real estate industry. Direct marketing, physical face-to-face meetings are very much being put on hold. Not all agents are making this switch, however. As we discuss in today’s episode of In The Lead, there are agents who are still very much taking the business-as-usual approach when it comes to their marketing efforts. One agent we spoke to is still conducting open houses, but has made it a policy to keep all the doors propped open, in an attempt to keep people from touching doorknobs and spreading the virus. Other agents are limiting the number of visitors they allow into a home at any one time.
Article | September 15, 2021
Impactful service-enriched housing programs and onsite supportive services build a foundation for serving the unique needs of a rental community’s tenant base. Quality services that address the individual concerns of each resident help eliminate the challenges that force turnover and increased expenses for property managers. Service-enriched housing includes the incorporation of programs and services within a community that advances the social and economic skill set of tenants.
Meeting net operating income (NOI) and covering debt service obligations are key performance indicators for property managers. Tenants must be valued because they are crucial to improving the financial performance of a community or property. Without support in discovering a realistic path to self-sufficiency, these improvements made will not promote the stabilization of a tenant population.
The key outcome for a community through the implementation of service-enriched housing programs is internal revitalization. Tenants benefit socially and economically from services that support access to job readiness, education and financial growth. During this time of economic instability, our resident services coordinators help remove barriers that plague many living in rental housing communities. Through its partnership with Esusu, Rainbow has alleviated tenants’ significant economic hardship by bridging default payments with no-interest loans. Tenants can use the company’s rent reporting platform, which sends on-time rental payment data to the three major credit bureaus – allowing them to build and develop their credit scores.
Prioritizing tenant empowerment offers tangible and intangible changes in a property, leading to increased financial performance and improved tenant retention. It also reduces turnover costs for property management such as flooring, paint and reletting fees. Free programs and services also improve the marketability of a property to prospective tenants. Rainbow communities have seen a reduction in community vandalism since the implementation of youth enrichment programs that keep children engaged and supported in their education.
Quality service-enriched housing programs, such as those offered by Rainbow Housing Assistance Corporation, provide direct access to resources that support the needs of physically and mentally disabled individuals, veterans, chronically homeless, single-parent households, families and seniors. Additionally, this type of outreach attracts the interest of local city, state and federal agencies as it helps stabilize the most vulnerable communities, cutting city and government expenses on a number of levels. This type of approval can even lead to further funding and support for initiatives that will enrich the future of affordable housing services.
Key programs and resources address life skills, financial intelligence, education, employment, youth and senior programs, resources to eliminate emergency situations, and social development in a multifamily community. The implementation of a professional, service-enriched housing program with onsite staff ensures that these offerings are tailored to each community and primed for longevity. A stable tenant base will determine the solvency of a community and reposition the financial performance of an asset.
Article | April 1, 2020
A clean, well-managed CRM can be your most valuable real estate tool. Too often, however, the database is so neglected and disorganized that it’s not living up to its full potential. Management of the system is an ongoing task, requiring a significant amount of an agent’s time. In fact, the folks at Hubspot found that nearly 30 percent of salespeople spent in excess of an hour a day on data entry. That’s an hour much better spent taking a former client to lunch or prospecting for new clients. When it comes to outsourcing real estate tasks, how does one go about finding help with data entry? Hiring a virtual assistant with CRM experience is probably the easiest way to get started. Here are just a few tasks to hand off: