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Data-Driven Decision Making: The Power of Analytics in Property Management

Data-driven decision-making can optimize every aspect of property management, from operational efficiency to resident satisfaction. Analytics empowers property managers to make informed decisions based on concrete data rather than intuition or experience alone.

By analyzing trends, patterns, and performance metrics, you can pinpoint areas for improvement, anticipate market changes, and tailor your strategies to remain competitive. 

Core benefits of data analytics in property management

Data analytics brings a suite of core benefits to property management, enhancing how you operate and interact with your properties and residents.

  1. Resident satisfaction: Data analytics aids in understanding resident preferences and behaviors. As a result, even large property management companies can provide a more personalized service and maintain good occupancy rates.
  2. Increased operational efficiency: Automating routine tasks like lease management, maintenance scheduling, and resident communication, you save time and ultimately increase profitability.
  3. Improved decision-making: As a property manager, you juggle a lot of moving parts. So, doesn’t it sound idyllic to have the option to anticipate needs? Analyze historical and real-time data and adjust your approach to property management accordingly.
  4. Risk aversion: Risk mitigation becomes proactive rather than reactive as analytics tools highlight these in advance before they escalate further.

So, how do you get the most out of your data? Thanks to property management apps and reverse ETL techniques, you can compile and transform data into valuable insights.

Reverse ETL is every property manager’s best friend as it simplifies the use of data to improve operations, make better decisions, and enhance resident experiences.

Essentially, it automates sending analyzed data from a central database into the everyday software tools you already use. This means that insights about maintenance needs, resident preferences, market trends, and financial performance are directly integrated into the systems where decisions are made and actions are taken.

How Reverse ETL Works

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In other words, it helps do all the heavy lifting, and you reap the rewards. 

Key areas of property management transformed by analytics

Whether you are a property manager for one rental or an agency that manages hundreds of units, you can streamline many areas of property management using property management software. Let’s look at six specific areas where analytics plays the biggest role. 

1. Maintenance scheduling

Predictive analytics is revolutionizing maintenance scheduling in property management by enabling managers to anticipate maintenance needs before they become urgent issues.

This approach leverages data from various sources, including historical maintenance records, sensor data from building systems, and external factors like weather conditions, to predict when and where maintenance will likely be needed.

By identifying patterns and potential problems in advance, you can proactively schedule repairs and maintenance work.a screenshot showing how a maintenance ticket could look

As a result, you can reduce downtime for essential systems and amenities. This proactive approach and attention to detail minimizes the overall inconvenience to residents. It also significantly reduces costs associated with urgent repairs and last-minute contractor rates.

Moreover, predictive maintenance scheduling extends the lifespan of property assets, ensuring they remain in optimal condition for longer.

With dedicated property management software, it’s easier than ever to instantly connect with vetted and qualified maintenance professionals and manage all requests via a dedicated ticketing system. 

2. Energy management

By collecting and analyzing data on energy consumption patterns across different times of the day, seasons, and specific areas within a property, you can identify gaps that need attention.

This data-driven insight allows for implementing targeted energy-saving measures, such as: 

  • Adjusting heating, ventilation, and air conditioning (HVAC) settings
  • Optimizing lighting use through motion sensors or timers
  • Upgrading to energy-efficient appliances and fixtures

These interventions lead to significant cost reductions by lowering utility bills and contribute to sustainability efforts by reducing your property’s carbon footprint.

Overall, this makes the property more attractive to future residents.

3. Resident screening and lease management

The last thing you want to do is fill your vacancies with residents who don’t pay their rent. Or worse, damage your property. 

Access to the right data points can unlock valuable insights beyond traditional background and credit checks. The idea here is to include a broader analysis of a potential resident’s rental history, payment patterns, previous lease violations, and social media behavior.

A comprehensive view that plugs data from multiple sources facilitates a more nuanced assessment of resident reliability and compatibility with the property’s community standards.

Advanced algorithms can predict the likelihood of timely rent payments, respect for property rules, and overall stability to make more informed decisions when offering lease renewals.

The end result? Quality and long-term residencies that don’t disturb the peace are every property owner’s dream!

A screenshot showing the three steps to lease management, from running background checks to receiving and approving a resident's application.

Empty properties don’t make money. Property management software can manage the leasing process, from screening residents to reviewing and accepting rental applications and all the document management that comes with it swiftly and without mountains of paper.

4. Resident communication

Personalizing resident communications and services through insights gained from data analytics enhances the resident experience.

Resident behavior and feedback should be your go-to data source. These are the data points that’ll help you learn more about your residents and tailor communication to meet their unique preferences. 

Here are some common announcements where you can add personalized messaging to further enhance the resident experience:  

  • Provide advance notices of residential work
  • Address common queries and complaints
  • Creating a continuous feedback loop
  • Emergency response planning
  • Reiterate rules and guidelines 
  • Energy-saving practices
  • Recycling programs

With a dedicated virtual bulletin board, communication becomes a two-way street. Not only can residents speak to property owners, but they can also connect with each other.

A screenshot of a virtual bulletin board

Residents within a community often form WhatsApp groups or find other methods to communicate among themselves. However, when they are given access to a customized platform designed specifically for managing general communications and property-specific requests, such as parking reservations, they feel more valued as residents.

5. Optimize your online presence

Are you unsure how residents (current or future) use certain parts of your app, website, or online portal?

With heat maps, you can unlock a visual representation of this data. In other words, see a beautiful illustration of the intensity of various metrics like resident behavior, preferences, and engagement levels within your dedicated property platform. 

For instance, you can learn about the most popular menu item that potential residents are clicking on when landing on your website. Our guess is the amenities page. 

Screenshot of luxury apartment in Nashville

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Understanding what residents are interested in when landing on your website allows you to optimize website layouts and resource allocation to fill vacancies and boost your bottom line. 

Pro tip: Build trust with residents by incorporating OAuth for a secure sign-in feature when logging into resident portals and payment gateways. 

6. Compliance monitoring

Streamlining regulatory compliance checks and audits through data significantly enhances the ability to ensure all properties adhere to the latest regulations and standards.

For example, a property management system can automate the tracking and reporting of safety inspections, energy efficiency ratings, and accessibility standards across multiple properties.

This system could flag properties due for safety inspections or need updates to meet new energy efficiency standards. By integrating real-time data from various regulatory bodies, the system ensures that managers are always aware of the latest requirements.

7. Accounting and financial reporting

Are you sick of manually tracking revenue and expenses across five different applications? Or worse, in an error-prone spreadsheet? 

With ManageGo, say goodbye to these headaches and manage your company’s accounting on the same platform you manage the rest. Talk about simple and easy. 

Plus, you can customize reports at every turn. That way, you can generate data-driven reports for solutions tailored to your exact needs. 

Wrapping up

Data analytics allows for more informed decision-making and streamlined operations.

With dedicated property management apps like ManageGo, property managers can now consolidate all data management and decision-making aspects into a user-friendly platform.

From automating lease management to personalizing resident communications, ManageGo provides a comprehensive solution.

Book a demo.

About the Author

Ryan Robinson is a blogger, podcaster, and (recovering) side project addict that teaches 500,000 monthly readers how to start a blog and grow a profitable side business at ryrob.com.

The History of New York’s Chaotic May 1st Moving Day

Did you know that 64% of Americans cite moving as the #1 most stressful event in their lives? At least that’s what a recent OnePoll study for North American Van Lines found. 

Now think back to your last big move, except imagine it on the SAME day everyone else in your building, on your street, and in your city were moving. Sounds like a recipe for dodging couches and making enemies out of neighbors! 

Well, in the 19th century, this was the norm for New York City residents. It was called Moving Day, and it may have been the most chaotic time in the city’s history.

A Short History of Moving Day

While the exact origin of this tradition has been lost to history, experts suggest that it traces all the way back to colonial times. Even so, it wasn’t made official until 1820, when the state of New York wrote it into law: all leases must be valid until the first day of May. This coincided with Rent Day, February 1st, where landlords would notify tenants of the rent price for the next year. This gave renters 3 months to make housing plans that fit their needs.

With this legislation in place, thousands of New Yorkers hit the streets at 9am on May 1st with horse drawn wagons filled with their belongings, headed to their new homes. This chaos lived on as the norm through the city, eventually dwindling in the early 20th century as tenant protections grew and city lifestyles shifted. Until, in 1945, the aforementioned law was officially written out due to nationwide housing shortages following WWII – ending the tradition for good.

A Look at How Far We’ve Come

It’s safe to say we’ve come a long way since Moving Day was alive and well. These days, New Yorkers can move on any day they wish, and they enjoy quite a bit more luxury in the process.  Long gone are the days of chaos in the streets when it comes time to move abodes, but this history reminds us of the importance of ensuring a seamless transition from renters. 

Like the February 1st Rent Day of the previous centuries, giving current residents at least 90 days notice of any price increases is the considerate thing to do, but whether or not you have to will depend on your local housing laws (do your research!). Giving renters this buffer shows your respect for them, which is important if you’re hoping for a renewal, or even a great property review. 

The advantage that modern renters have today that renters during the era of Moving Day lacked was access to powerful technology. Whether it’s a simple digital moving checklist or a full-fledged mobile resident portal, moving in the 21st century has never been more streamlined. While it’s fun to look back at outdated traditions like New York’s infamous Moving Day, it’s also a relief to realize how easy we have it thanks to modern property management technology.

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!

Rent Price Negotiation: How to Do It (For Residents and Property Managers)

Is the price of rent negotiable? Believe it or not, yes! It may seem that the market prices you see on rental listings are set-in-stone, but that’s not always the case. Of course, whether or not property managers are willing to budge on the price of a unit will be up to their own discretion. At the very least, asking is worth a shot, and it’s a more common practice than you’d think. 

So how should you go about it as a resident? And how exactly should property managers handle renters eager to negotiate? Dive in to find out! 

Negotiating Rent as a Resident

Whether you’re a current resident planning to negotiate rent at a lease renewal or a prospective renter hoping to get a deal from the jump, we have a few tips on playing the cards in your favor.

Current Residents

The great news for current residents is that you (hopefully) already have a great track record with your property manager. Our advice? Remind them of this! When you go to draft a price proposal, help them remember why you’re a great resident worth keeping around. Have you always paid rent in full, on time? Are you respectful to neighbors and cause little disruption? Have you taken care of the property like it’s your own? If so, these are the types of things property managers want to hear. 

While property managers likely already know the value of resident retention, it doesn’t hurt to remind them of the money and time they’d save by keeping you around. The sheer fact of saving money through renewals could be enough of a push they need to accept your offer!

The last thing to consider before pressing send on your proposal (and yes, do this in writing!) are the current market rates for units like yours. To increase your chances of a successful negotiation, do your research beforehand, and be reasonable in your offer. 

Prospective Renters

Whether you plan to negotiate your rent price or not, every renter should get their rental history and recommendations ready to share. Since your new property managers have little idea of how you operate as a resident, they’ll want great references able to vouch for you – especially if you plan to negotiate the rent price.

The key for prospective renters is research. Do your due diligence by finding out what the market looks like around you. What are similar units at comparable properties going for in your area? Find these details out, and leverage your findings to negotiate a reasonable deal.

You may find it more difficult as an incoming renter to get property managers to budge on the gross rent price. If this is the case, ask about concessions or consider experimenting with lease terms. Maybe you have to pay the market price, but management is willing to give you free parking for the duration of your lease instead. The possibilities are abundant, so stay flexible and knowledgeable about your options!

Rent Negotiation for Property Managers

Understandably, getting a message that your renters want to negotiate the price of their rent isn’t ideal. Afterall, you advertised the unit at a certain price for a reason. Just like we told the renters, your first step is going to be research. Compare your units with those of your competitors to ensure your rental prices make sense for your offerings. Additionally, know your rights! Property managers are under no obligation to accept rent negotiation offers, given they’re in line with other applicable rental laws. If you feel a renter has lowballed you, just say no. Though, giving them a flat-out no may mean you lose a great resident you’d otherwise love to rent to. If that’s the case, consider offering concessions or incentives, like a month or two of free rent. 

It’s also important to run the numbers to understand whether or not accepting or denying a rental negotiation is worthwhile. Consider the price of potentially losing a great renter versus the price of their offer. Additionally, keep in mind your current vacancies. If you have one too many unrented units, it may be more cost effective in the interim to fill the space and generate cash flow you’d otherwise miss out on.

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!

How to Handle Hostile Renters At Your Multifamily Property

No matter how thoroughly you screen your renters at the time of application, it’s impossible to know the attitude they’ll show up with at your property. Hopefully, they’ll be communicative, pleasant residents that cause little issues during their stay. Those residents are what you aim for, and they’ll be the ones to renew their leases and keep your cash flow healthy. Worst case scenario, they neglect to pay rent or cause major disruptions to neighbors and staff. Those are the ones you’ll be fighting to evict, and understandably the ones you’ll do your absolutely best to avoid leasing to. But what about those residents that fall somewhere in between? 

We’ll call these hostile renters, and these are the residents that simply aren’t pleasant to interact with. They’re behavior isn’t eviction worthy, but it isn’t exactly sunshine and rainbows when they’re around either. But why are some renters so hostile, why should you care, and what can you do to get them on your side? Read on to find out! 

Why Renters May Be Hostile 

Before diving into why some renters are hostile, it’s important to define what this kind of renter hostility looks like. You may be dealing with a hostile renter if they check any of the following boxes:

  • They’re rude to you, your staff, or your vendors
  • They often ignore or fight back on your property policies (like having more guests than allowed in amenities, for example)
  • They complain often about little things
  • They have poor communication or are flat-out unresponsive

These are just a few examples of hostile renter behavior, but the list can be endless. In reality, it can be difficult to pinpoint one concrete reason for hostility, and there could be a combination of contributing factors. It could be anything from you not delivering on your promises (think unresolved maintenance issues or false advertising during a property showing) to a general disdain for landlords and property managers, to a personal reason that has nothing to do with you or your property.

So, you’ve determined you have a hostile resident, and you may or may not have an idea of what caused the hostility. But why should you care to turn their attitude around? 

Improving Relationships Is a Win-Win

While they may not be causing any real trouble at your property, having a hostile renter is never a favorable situation to be in. By taking the time to get to the bottom of a renter’s bad attitude and doing what’s in your power to improve it, you’ll be setting everyone up for success. Not only will your residents be more relaxed and enjoy their home more, your staff and your business will thank you too. Fostering positive relationships with these kinds of renters will build a level of respect that may not have existed before. This means they’ll be more likely to pay rent on time, more likely to follow property rules, more likely to treat you and your staff fairly, and more likely to leave a great review of your business. So what can you do to flip the narrative?

3 Strategies to Get Them On Your Side

No matter the reason for their hostility, doing everything you can to ensure they have a great experience at your property will help alleviate a resident’s bad attitude. Here are our three favorite strategies to do just that:

Encourage open communication

The best way to keep a wedge between you and your residents is failing to communicate early and often with them. Let them know, as early as the application process, that you’re here for them. But once you’ve talked, it’s imperative you walk the walk. Give residents the tools they need to communicate with you easily. The best way we’ve found to do this is by giving residents access to an online portal where they can interact with you and their home by simply logging onto a mobile app. Making communication as seamless as possible will help bridge the gap between you and a hostile renter. 

Be responsive to concerns and requests

A common cause of hostile residents is the impression that landlords and property managers don’t care about a renter’s needs. The best way to prove them wrong? Show up for them with quick and meaningful responses to any concerns or requests. Whether it’s maintenance requests, questions about their lease, or anything in between, prioritizing responsiveness will further show them that you care about them and their rental experience. 

Help make their rental feel like home

The more your units feel like home to your renters, the happier they’ll feel, and in turn, the less hostile they’ll be. There are endless ways to make a multifamily rental family feel more like a home, but some of our favorites include:

  • Complimentary package management
  • Seamless guest key access
  • Amenities spaces that are well looked after
  • Community-centered classes & events 

Implementing these three strategies will build a foundation of trust and ease reservations of hostile renters. Getting residents on your side may be a lengthy process, but by showing up again and again for them, you’ll reap the benefits of gaining another long term renter.

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!

Does Your Multifamily Building Need a Community Message Board?

Maybe you’ve heard other property managers talk about them, maybe you use one yourself, or maybe this is your first time hearing about them. Community message boards: the most underrated, rewarding feature a property manager could offer.

But what exactly is a community message board, what are the benefits, and should you be taking advantage of one at your properties? Read on to find out!

What Is It and What Are the Benefits? 

Think of a community message board as your building’s own exclusive social media platform, where residents and management can interact online. The key differentiator between a traditional platform like Twitter or Reddit, and a community message board like ManageGo Engage, is the exclusive community access. Ideally, your message board is only accessible by your residents through a resident portal, giving them a unique opportunity to digitally interact with their neighbors.  

But why is this so beneficial? Here are our top 4 reasons:

1. It builds community

It seems as though neighbors are increasingly less likely to share a laugh with each other in lobbies and hallways, but all hope is not lost! If they’re good for one thing, digital forums are fantastic mediums to build a community. Just a simple app gives residents a low-stakes, enjoyable way to interact with their neighbors.

You may not care whether or not your neighbors are friendly amongst themselves – but we challenge you to consider the importance of a well-cultivated community. For renters in 2024, a sense of community is amongst the top value-drivers of a multifamily rental unit. In a nutshell, investing in ways to build community, like a digital message board, will set yourself apart from other properties – increasing prospective renters and helping to retain current ones.

2. It encourages resident engagement

An engaged resident is a resident that’s connected to your property – all the better for their chances of becoming (or staying) a long-term renter with you! On a digital community message board, residents can buy, sell, & trade, find nearby babysitters, dog walkers, & house cleaners, and even promote personal events & gatherings. The possibilities of engagement are endless, and it’s advantageous that you cash in on this type of connection.

3. It’s an effective means of communication

A community message board is a stellar place for both resident-resident communication and resident-staff communication. Forget the olden days of paper flyers in elevators and level up by using this tool for digital announcements. Whether you’re promoting an upcoming event, reminding residents of building rules, or notifying them of changes to office hours or common areas, a message board is your most effective way to keep residents in the loop about what’s happening in their community.

Should You Use One?

The benefits are crystal clear, but you may still be questioning whether it’s necessary for your own multifamily property. If that’s you, consider these three indicators:

The Size of Your Property

Does your property host tens of residents, or hundreds? It matters when looking at whether or not community message boards will be a success at your buildings. If you manage a humble 10-unit building without a robust amenity & event lineup, it may not be a worthwhile investment. If, however, you manage a huge property with hundreds of units with lots of property happenings, a community message board makes a bit more sense. With a larger property, you’ll have more to talk about with residents, and more residents to engage with the platform. 

The Demographic of Your Residents

Any type of communication software is going to be best embraced by digital natives, and may not be so successful with older generations. You might have hundreds of units, but if you’re building a senior living community, this tool is probably not for you. If, however, your renter base consists largely of students, Gen Z, or Millennials, your chances of success when implementing this technology skyrocket. Luckily, nearly half of all U.S. renters are under the age of 30, so there’s a fair chance a community message board is applicable to you.

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Resident Needs

Do your residents often come to you asking questions like “where’s the lost and found?” “can I put up a promotional flyer?” or “when’s the next resident mixer?”? If so, the solution is right in front of you. Chances are, if your residents are asking questions that can be answered on a community forum accessible from the phone in their pockets, it’s a sure sign you and your renters will benefit from its implementation. 

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!

How to Cater to the Top 5 Resident Priorities In 2024

As renters’ needs shift, so do their priorities when apartment hunting. It can feel like a bit of a roller coaster as a property manager trying to adapt to the ever-evolving expectations of residents. But sit tight, cause we’ve taken note! Read on for the top 5 resident priorities in 2024 and expert advice on how to cater to them at your multifamily properties.

1. Price & Value for Money

For a majority of renters, the first thing they’re going to prioritize when looking for their next home will be price – and they won’t just settle for any unit that falls within their budget. While current market trends and the necessity of making a profit will place limitations on what you’re willing to charge renters, there are ways you can increase the perceived value of your property, without touching price. This could be as simple as a fresh coat of paint or upgrading small appliances like microwaves. The more you can do to refresh your units, the more valuable prospective residents will view them, and the more likely they will be to rent from you!

2. Safety & Security

Next up on residents’ must-haves is a feeling of safety and security. This one is rather self-explanatory. I mean, it’s their home after all, residents want to feel safe! While not every property can have 24/7 doormen or human security guards, there are a few enhancements you can make to make it feel safer around your buildings. Start by ensuring every walkway, stairwell, and parking area is well lit. If onsite security is out of the question, consider implementing technology such as smart security systems, smart locks, and secure guest key access and package management systems. Even just knowing these features exist around their home will add to residents’ peace of mind.  

3. Remote Work Amenities

According to the National Multifamily Housing Council’s 2024 Renter Preferences Survey, 45% of renters report working from home several days a week, if not every day. That’s almost half of all renters, and catering to this new development in the workforce is imperative. Properties with amenities that make working from home more enjoyable will inevitably have a competitive edge. First and foremost, this means prioritizing providing fast, reliable internet throughout your property. Take it a step further by transforming a low-use area into a co-working space for residents. Bonus: offer a complimentary coffee bar on weekday mornings in your building’s lobby. The possibilities are endless

4. Sustainability

The call for sustainability in real estate persists, and according to residents, it’s here to stay. If you haven’t already, it’s time to start implementing eco-friendly practices if you want to appeal to the modern renter. This can be achieved with simple changes like switching to energy-efficient appliances or with more complex commitments like leveraging smart technology to meet demands. However you decided to tackle the evolving issue of sustainability, make your efforts known to renters. 

5. Community

In a 2024 renter study, SatisFacts found that a sense of community was the #1 driver for perception of value among rental residents. Multifamily properties are more than just homes, they’re unique opportunities for renters to connect with their neighbors. Aside from communal amenities like co-working spaces and fitness centers, what else can be done to build community? Well, holding regular classes and events is a great start in bringing people together organically. Another one of our favorite community building tools is a digital message board

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!

How to Navigate Rental Applications to Secure the Best Residents

Thoroughly vetting applicants is a crucial part of running a successful rental property. Not only does it guarantee your renters are qualified, when done right, it has the power to help you secure the best-fitting residents for your property. 

But why is finding great fits so important? From more on-time rental payments and minimal property disruptions to lifestyle alignment, by finding ideal matches you set yourself up for increased retention, and ultimately, better ROI. 

So how can you better navigate rental applications to ensure optimal outcomes? Read on for our step-by-step guide.

1. Utilize a Digital Application Software

No renter wants to show up to your office with a folder of paper documents in hand – and you certainly don’t want to sort through them. The first step to navigating rental applications with ease is to employ a modern rental application software. With the right software, you and your applicants will have one digital place to submit, organize, and manage all required information throughout the application process. Not only is this step practical in saving you time and improving efficiency, it also gives a great first impression to renters by providing them a seamless leasing experience. 

2. Set Application Fees

Vetting applicants requires time and resources from your team, and it’s likely you’ll want to be compensated for that. Before you send instructions to apply, be sure to set the appropriate application fees for both applicants and guarantors. This should be a self-explanatory process with the right comprehensive software. 

In ManageGo, easily set these fees under Settings > Rental Applications > Application Fees.

If you’re unsure about whether to set fees or not, read our blog for insights on how to make the right decision for your business.

3. Collect & Verify The Renter’s Information

Now it’s time to get the application started! Collect all the information you’ll need to make an informed decision, including (but not limited to) contact information, employment verification, proof of income, past rental history and references, pet and vehicle details, and anything else you think you’ll need to know. This is the step where you’ll be glad to have a robust software system to make requesting and acquiring this information a breeze. Once received, do your due diligence to verify everything. 

4. Run a Credit & Background Check

Credit checks simply verify a renter’s ability to pay rent monthly, while background checks reveal criminal histories (or lack thereof). These are important in confirming your applicants won’t be disrupting your cashflow or cause legal problems at your property in the future. It’s most common for property managers to pay to run these checks through third parties. On the flip side, all-inclusive application softwares like ManageGo may offer this service free of charge for an extra-seamless experience. 

5. Talk To Rental References

When collecting the renter’s information in step 3, don’t forget to ask for rental references. References are instrumental in verifying an applicant’s rental history and confirming they’re a favorable choice for your property. These conversations are a great way to find out about those residents who have a history of late payments, property complaints, or even evictions. If a past reference can vouch for your prospective resident, they’ll likely be a good pick for you, too.

6. Interview The Renters

Once you’ve reviewed all of the information collected about your applicant, it’s time to interview them directly. This may seem like an unnecessary step, but it’s a helpful measure that can help you confirm they’ll be a good fit for your specific property and unit. Check out our 5 Vital Questions to Ask Your Rental Applicants article if you need a jumping off point for your interviews!

7. Make Your Decision

At this point, you should have all the facts and figures needed to make an informed decision about your rental applicant. If they meet all of your rental requirements on paper, go the extra step in making sure their wants and needs align with your property’s offerings. By considering both your needs and your residents’, you’ll set yourself up for long-term success and retention.

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!

How to Handle Emotional Support and Service Animals at Your Rental Property

Navigating the hairy world of pets at your rental properties can be a bit of an undertaking. From crafting pet policies for your lease agreements to making accommodations based on local and federal laws, there’s a lot to consider when it comes to welcoming pets at your rentals.

Regardless of your own pet policies, knowing the difference between emotional support and service animals, as well as the laws you must follow to accommodate them, is crucial to responsible property management. So, let’s start by breaking down the difference between the two.

Emotional Support Vs. Service Animals

While neither emotional support animals (ESAs) nor service animals are considered pets in the eyes of the law, there are important differences to note as a property manager.

Emotional Support Animals (ESAs)

ESAs are defined by the NYC Commission on Human Rights as an animal, protected by the FHA, that provides emotional support or other assistance to their owner in order to help treat symptoms of a disability. The main differentiator between emotional support animals and service animals is that ESAs do not require training to perform their assistance. 

Service Animals

Service animals, protected by the FHA and ADA, are animals specifically and often rigorously trained to perform tasks in order to provide assistance to people with disabilities. Contrary to emotional support animals, service animals perform a medically necessary service. For this reason, the lawful accommodation of such animals are much stricter than those of ESAs.

But what exactly protects renters and their furry friends? The Fair Housing Act! Here’s what you should know…

The Fair Housing Act (FHA)

Introduced in 1968, the Fair Housing Act outlaws the discrimination of renters on the basis of race, gender, sexual orientation, nationality, religion, family status, or disability. Key word for our purposes today: disability. That means that in the U.S., property owners and managers are legally required by the FHA to allow both emotional support and service animals at their rental properties, based on the definitions we learned earlier. 

It’s important to note, however, that property managers are only obligated to make reasonable accommodations. For example, if a resident is unable to provide verification from a medical provider, or if the animal causes destruction to the property, the manager is no longer required to provide accommodation. 

What This Means for Property Managers

So what exactly does this mean for property managers? First and foremost, it means that you can’t turn ESAs or service animals away if all requirements are met – regardless of your pet policies (because remember, these animals aren’t pets). In the same vein, while you may charge fees to allow renters’ pets, you cannot charge pet fees for ESAs or service animals at your property. 

It’s also crucial to study up on what you’re legally allowed to ask residents who request accommodations for their ESAs and service animals to avoid noncompliance with the ADA. While property managers in NYC can’t ask owners for specific documentation, they do have the right to request verification from the renter’s service provider that they have a disability, and that the animal in question helps aid said disability. There are plenty of questions that are illegal to ask residents, so research the laws in the area of your property to avoid trouble down the line. 

Finally, be sure to save and organize all documents related to the accommodation of these animals at your rental property. From verification letters to amendments to leases, be sure you have a reliable place to store this information

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

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Last-Minute Holiday Celebrations Guaranteed to Bring Cheer to Your Multifamily Property

Fa – la – la – la – wait. It’s December already? Time flies when you’re managing multifamily properties! While you were busy collecting late rent payments, scheduling annual winter maintenance, and closing out your Q4 books, the holiday season reared its head. Fortunately, we put together a list of celebrations that are guaranteed to liven up your multifamily properties, just in time for the holidays. Check out our top 6 last-minute holiday events to host at your multifamily properties!

Hot Cocoa Bar

Setting up a hot chocolate bar is a simple but effective way to bring warmth to your multifamily community! Grab the ingredients for traditional hot cocoa: hot water, hot chocolate mix, mini marshmallows, and garnishes like cinnamon sticks or candy canes. Set up a spread with the ingredients and necessary utensils in your building’s lobby or frequented community area, and let your residents enjoy! We love this one for its minimal planning, cost-effectiveness, and popularity amongst all age groups.

Ugly Sweater Contest

Don’t have the time or resources to throw a full-blown event? Don’t sweat it (it’s December after all). Host an Ugly Sweater Contest through your property’s social media accounts! Make a post on your social page, collect contestant photos, and let your staff vote for a winner. Make it worthwhile by partnering with a local small business, like the neighborhood coffee shop, to giveaway a gift card or small treat to the resident with the ugliest sweater!

Pictures with Santa

A classic for a reason, pictures with Santa is a phenomenal way to engage young families at your multifamily property. Hire a trusted Santa and set up a photo station in a large amenity space. Advertise in advance to maximize turn out and go the extra mile by setting out holiday-themed treats. 

Bonus: make it pet-friendly for extra-cute photos!

Sound Bath Yoga

Looking for a less-obvious event for your residents? Hold a sound bath yoga class in addition to your regular class line-up! A sound bath is a type of meditation that uses sound vibrations to relax attendees – a great way to de-stress during the hectic holiday season. This type of experience pairs well with yoga, which makes it a convenient way to spruce up a class you already have planned. 

Candle Making Workshop

Nothing screams holidays like the coziness of a pine-scented candle. Although a bit more intensive than other events on this list, with the sourcing of the right teacher, it can come together pretty easily! We love this event as it’s both a holiday-neutral celebration, and a great way for residents to hand-make a gift for a loved one during giving season. 

Pro-tip: stress the importance of candle safety during and after this type of workshop! You don’t want to be dealing with emergencies, like candle fires, during your winter break.

Holiday Trivia Night

Hosting a holiday trivia night is a fun way to liven up a multifamily community and get residents excited about the season. Gather a set of trivia questions (and answers!) from Google and print out blank answer sheets for your guests. Volunteer a staff member with a great hosting voice, or hire a local actor to bring life to the trivia questions. Not only is this event fun for all ages, it’s also a great way to learn about all the diverse celebrations that happen during the winter months. 

Bringing It All Together

Whichever events you choose to arrange, we recommend keeping two things in mind: 

First, simply hosting an event isn’t enough to engage residents. Consider the residents’ experience before, during, and after each event, and how that translates to meaningful engagement, and ultimately, retention. For expert tips on maximizing engagement, check out our recent podcast episode on multifamily events!

Second, convenience is king. Imagine going through all the trouble of pulling together a candle-making workshop, only for a few residents to turn up. Ask yourself: did we advertise the event thoroughly? Did we have clear instructions on how to RSVP? And did we make the process of signing-up as simple as possible? Having a comprehensive concierge solution in your back pocket will help you tick all these boxes, and ensure your events run as smoothly as possible.  

No matter your business goals, ManageGo has your back. Request a demo today to discover how our software solutions can benefit you and your unique property management needs. Or, connect directly with one of our experts and get started on your journey to better property management. Plus, subscribe to our monthly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!

Houston, We Have a Package Problem (PropTea Podcast Ep. #7)

The e-commerce industry is booming, with no signs of slowing down. Who doesn’t enjoy the convenience of doorstep delivery, after all? But as quickly as it’s growing, so is the threat of package theft. And when you live in a multifamily community, it’s property managers who bear the brunt of the package problem. From real-world delivery statistics to insights on the true cost of missing packages, check out this month’s podcast highlights to learn how to enhance your delivery management –  the modern way!

Should I really be concerned about package theft?

The short answer? Yes! The statistics speak for themselves…

Erica: “Three of four Americans have been victims of package theft in their lifetime. That says a lot. Over 210 million packages were stolen all over the US in 2021 and then 260 million in 2022…That is a lot of packages that have been stolen…

Plus, 40% of package theft occurs in apartment communities. I mean, I’m not necessarily surprised by this. There are a lot of people who go into multifamily buildings and apartment communities every single day. It is very, very hard to keep track. Especially if you live in a building that doesn’t have a reception area, a front desk person, or someone who’s manning the package area.”

How does it affect my property management business?

Erica: “The package problem is costly and not just for your residents. Residents will start to feel insecure about the place that they live in, which can really reduce retention rates… and the likelihood of them renewing their leases. And it is extremely expensive to acquire new residents versus retaining your current ones.

This can also lead to poor reviews and ratings online that can spread rapidly. So, you want to take action. Don’t let your residents down when there are turnkey solutions for this common issue. Provide the trust and security that your residents deserve and save them from the headache of misplaced or stolen packages.

Put in the effort now and it will make a lasting impression. Your residents will thank you for it later.”

So, how can I combat the package problem at a multifamily property?

Erica: “A practical way to prevent package theft is to really invest in a package management platform like our ManageGo Concierge bundle. In that bundle, we have package management, and with that, you can really have full transparency of incoming, outgoing, and offsite packages visible to not just your staff but also your residents…Your staff will be able to scan them and then your resident will get a notification…and then they’ll know they have a package waiting for pin-secured pickup.

…It’s also a good reflection on you as a property manager to have such a high-tech system in place to really make sure that your residents are never losing their packages.”

Now that you know the severity of the package problem, why you should care as a property manager, and the initial steps you can take to combat it, it’s time to listen to the full episode! Join Erica as she gives us more practical ways to address this issue, an in-depth look at ManageGo’s package management features, and expert tips on how to pick the right package management software for your business. 

No matter your business goals, ManageGo has your back. Stay tuned for next month’s episode for more advice on better property management. Or, request a demo today to discover how our software solutions can benefit you and your unique property management needs. Plus, subscribe to our bi-weekly newsletter to explore the industry, get the latest company news, and be the first to know about special announcements!

Want even more? Get your fix and follow our socials for all the latest property management tips, tricks, & trends!