Apartment Budgeting: Storage Income

One in Ten Americans Has a Self-Storage Unit “Human laziness has always been a big friend of self-storage operators,” Derek Naylor, president of the consultant group Storage Marketing Solutions – New York Times article. I would say to my apartment friends – we/you need to get a piece of that action. Build garages not for parking…

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Apartment Budgeting: Lease/Short Term Premium

Back for another week of budget talk. Hope this past week has been over the top and amazing for all of you. If  not, you have a whole life of potential in front of you so don’t fret too much. Last week we talked about Month to Month Premiums and this week are moving on to…

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Insufficient Notice Fee

What is an insufficient notice fee? Simply put, it’s an acceleration of rent due for giving a notice that does not meet the necessary lease protocol.

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Simple Timeline

In the absence of a simple timeline you get chaos. You get the finger-pointing. You get he said and she said and they said and we all said – time-sucks. It’s exhausting and it usually involves the highest of pay grades to solve.

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Apartment Budgeting: Forfeited Security Deposit

Hope your Tuesday is off to a good start. I am still in the vein of Other Income as I venture through these budget installments. Forfeited Security Deposit  Defined: A fee taken when an applicant fails to follow through with physically moving into your community after they have been fully qualified to do so. ***As…

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Rent Write Off

We are nearing the end of the first section of our property management budget discussions. Up to now we have been penning about rental income and the various losses that are booked against it. They come in the way of; loss to lease, vacancy and various marketing related concessions. To round it out we are…

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Resident Referral Money

Before we continue with our budget discussion on the topic of resident referrals, I want to back up and remark on a comment that I saw this last week. The comment was posted on Facebook and whether it related to our post or not, I found it a bit amiss. It was along the lines…

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Apartment Budgets: Loss to Lease

Welcome back for another installment of the Apartment Budget series. Today we are going to talk about Loss to Lease. Interesting side note, I did a piece on this a number of years ago and to this day it remains the number one read article on this blog. Before we get started, I wanted to post…

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