WE NEED YOU IN HARRISBURG….. Lawmakers will not bother about our issues unless we bring them the message. Our annual Harrisburg Capitol Conference is May 1 and 2. We'll hold our annual Apartment Association of Pennsylvania meeting on the evening of May 1, 2012, and visit our legislators on May 2nd. It's your chance to tell legislators about your property's story—the homes and jobs you bring to your communities. We are the only ones who can tell them. Registration flyer
Just added to AAGP calendar…Financial Boot Camp May 24
March 20, 2012 by
Financial Boot Camp is a full day training for anyone who needs to know more about apartment budgeting and finances. This class is open to anyone but it is designed for property managers. Trainer: Cynthiann King. Info.
Partners for Good Housing booklets available through AAGP
March 14, 2012 by
The City of Philadelphia Dept. of Licenses and Inspections publication Partners For Good Housing is available through AAGP at just 40 cents per booklet or packs of 25 for $10. Contact ashley@aagp.com to order your supply.
Attention Regional Managers & Executives
February 28, 2012 by
The CAPS Certified Apartment Portfolio Supervisor designation program will be held in May at AAGP. Make plans now to commit to 5 consecutive days of training. You will learn from some of the industry's best local professionals/instructors, including Mike Beirne (Kamson Corp.), Karen McAlonen (Morgan Properties), Cynthiann King, Mary Pacini (Chancellor Properties) and Christine Young-Gertz, Esq. (AAGP). CAPS requires five days in the classroom and passing an online exam. Register now and enjoy an earlybird discount. This is the only time in 2012 that CAPS will be offered locally.
APARTMENTS.COM NATIONAL SURVEY REVEALS RENTER MOVING PLANS FOR 2012
February 23, 2012 by
FOR IMMEDIATE RELEASE
APARTMENTS.COM NATIONAL SURVEY REVEALS RENTER MOVING PLANS FOR 2012
More Previous Homeowners are Looking to Rent in 2012
CHICAGO (February 21, 2012) – As home values fell yet again at the end of 2011, more and more people are looking to renting as an affordable, flexible lifestyle option, causing apartment vacancies to fall to their lowest point in 10 years. Reis reported that the apartment vacancy rate dropped to 5.2 percent in Q4 of 2011, down from their reports of 5.6 percent in Q3 of 2011. This higher demand for apartment housing means increased renting costs across the nation. In response to this news, Apartments.com conducted a national survey to more than 3,000 of its January website visitors to find out about their 2012 moving plans, including reasons they are moving, why they are opting to rent versus own property, when they plan to move and which tools they value most during their apartment search.
Supporting a growing trend, 33.6 percent of respondents looking for an apartment this year said they are previous homeowners (up from 20.5 percent in 2011). From the survey respondents who said they are homeowners looking to rent in 2012, 26.3 percent are doing so because they believe renting is a more affordable option and 21.2 percent prefer the flexibility renting offers in choosing where to live. Apartments.com provides the five most popular responses why their website visitors are choosing to rent versus own in 2012:
1. Renting is a more affordable option: (26.3%)
2. Flexibility to live where I choose: (21.2%)
3. To relocate for employment: (20.5%)
4. Cannot afford to keep up with homeownership expenses: (10.5%)
5. Lost home due to foreclosure and change in marital status: (less than 4% each)
“The fact that more renters are entering the market continues to create a series of challenges for the potential renter, including fewer apartments to choose from, which can drive higher rent rates,” says Chris Brown, vice president of product management, Apartments.com. “It’s more important than ever for apartment seekers to be informed and savvy shoppers by utilizing all the online resources available to search for apartments within their budget.”
More than 35 percent of respondents indicated they are moving out on their own – whether for the first time or back into their own place – which may be a sign of an improving economy and job market, especially in the rental demographic. Reinforcing that idea is the fact that 23 percent of renters surveyed reported they are relocating for employment opportunities – making that the number one reason for moving in 2012, as it was in 2011. However, the desire to have more space, to save money and to live in a more desirable neighborhood also topped the list. Apartments.com provides the five most popular responses why their website visitors are moving in 2012:
1. Relocating for employment opportunities: (23%)
2. Looking for a bigger apartment: (11.9%)
3. Shopping for a less expensive apartment: (11.3%)
4. Wanting to live in a more desirable neighborhood: (10.6%)
5. Change in marital status: (8.8%)
As part of their due diligence, this survey finds renters tapping multiple resources during their apartment search. While the majority of survey respondents rely on Apartments.com and online apartment classified listings websites, such as Craigslist to find a new place, there has also been a notable 9.2 percent uptick in the number of respondents who are using review websites this year over last. In addition to the dominant choice of Apartments.com, of which 100 percent of survey respondents were utilizing at the time of taking the survey, renters ranked their top apartment shopping tools as follows:
1. Online apartment classified listing websites (e.g. Craigslist and Oodle): (70.4%)
2. Search engines (e.g. Google, Yahoo!, Bing): (45.3%)
3. Review websites (e.g. ApartmentRatings.com, Yelp!): (32.6%)
4. Word of mouth: (31.5%)
5. Local newspapers: (26.7%)
Apartment seekers currently in the market for an apartment are encouraged to read the following tips, from Apartments.com, to help them find the perfect place to live.
· Identify “Need to Have” Versus “Nice to Have” Amenities: Before beginning an apartment search, identify which features and amenities are must haves. Different apartment styles and locations appeal to a variety of renters, depending on the demands of their day-to-day routine. Amenities like newer kitchen appliances and marble countertops, laundry or workout facilities may result in a more expensive apartment. People who are new to a big city may be surprised to find parking hard to come by or an additional expense. The best way to go about finding a place that meets the needs of one’s lifestyle is to create a list of necessities and conduct an online apartment search against that list.
· Budget Wisely: When looking for a place, experts suggest rent should not exceed 25-30% of one’s annual wages. Take a look at income after taxes and subtract expenses. Be sure to include food, car payment, credit card, entertainment and phone bills as part of the expenses. Whatever is left is what apartment shoppers can afford for their new place. Keep in mind this budget will need to cover rent and other services like gas, cable, electricity and garbage pickup, if these are not already included in the rent. If it’s not already included, ask the landlord or property manager to put what is covered and what is not into the rental agreement.
· Inspect an Apartment: Most shoppers wouldn’t buy a car without taking it for a test drive. So, why would anyone rent an apartment without seeing it first? Especially when a lot of the information to help narrow down the search, including apartment photos and videos, can be found online. On Apartments.com, walk-through video tours guide viewers through the interiors of apartments to help them pinpoint the places that meet their needs before scheduling an appointment. Once interested renters have arrived to the apartment, they should ask the landlord or property manager to give a tour and double check the appropriate safety fixtures (e.g. smoke detectors, fire extinguishers and carbon monoxide detectors) are installed and working. Also, test faucets, toilets and other pipes under cabinets for leaks in plumbing. Run a hand along the outside of the window to check for drafts. If there are any items that need to be repaired or replaced, make sure these are addressed before signing the lease.
As part of its “What Renters Want” research series, Apartments.com surveys renters on various topics. For more information on these surveys or to receive a copy of the results, please contact Brittney Theriault at Brittney@salmonborre.com.
About Apartments.com
Apartments.com (http://www.apartments.com) is a leading national apartment Internet listing subscription service with more than 50,000 unique addresses representing millions of rental units from managed properties, newspaper classifieds and for-rent-by-owner properties. By incorporating the most relevant products to reach renters including personalized searches and highly visual ads featuring live chat, real-time rent, online video walk-through demonstrations, professional photography, a mobile website and iPhone and Android app, Apartments.com creates easy access to its listings. Providing unmatched exposure to its advertisers through an intuitive name, strategic search engine placements, featured partnerships including Yahoo! Real Estate, Univision and more than 120 newspaper websites and innovative emerging media, Apartments.com reaches millions of renters nationwide, driving both qualified traffic and highly-engaged renters to leasing offices nationwide. Apartments.com is a division of Chicago-based Classified Ventures, LLC. The Apartments.com network of apartment rental websites includes Apartment Home Living (http://www.apartmenthomeliving.com), a leading social media apartment website distinguished by a "live for fun" community experience, proprietary lifestyle matching and local living guides to help renters find their perfect place to live.
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Terri Norvell Coming to Harrisburg in April
February 21, 2012 by
National Apartment Industry speaker, trainer, consultant and coach Terri Norvell is coming to Harrisburg on April 12, 2012 to present High Performance Selling and Motivational Accountability. Terri helps property management companies and supplier organizations grow their people and profits. The Apartment Association of Central PA has invited AAGP members to attend at the member rate of $80 for a full day. Take a road trip to Harrisburg this Spring for some professional training.
Questions? Email aacp1@verizon.net.
Philadelphia’s Fourth Quarter 2011 Insight Into Multifamily Applicant Risk Index
February 16, 2012 by
PHILADELPHIA’S FOURTH QUARTER 2011 INSIGHT INTO
MULTIFAMILY APPLICANT RISK INDEX
By: Jay Harris, Vice President of Business Services, CoreLogic SafeRent
The Multifamily Applicant Risk Index (MAR Index) is published quarterly by CoreLogic® SafeRent® and is based exclusively on applicant traffic credit quality scores from their statistical screening lease model(Registry ScorePLUS®). This quarterly report provides property owners and managers with a benchmark with which to compare their portfolio’s performance. The fourth quarter national MAR Index, including studios, one-, two-, three- and four-bedroom units, was 101. The fourth quarter MAR Index value increased three points from the previous two years showing a higher renter credit quality through the end of 2011.
Here is how Philadelphia performed in the fourth quarter compared to last year:
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD: 4Q11 MAR Index = 110
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD: 4Q10 MAR Index = 105
The Multifamily Applicant Risk Index (MAR Index) provides trends of national and regional traffic credit quality scores whereby a lower index value indicates an applicant pool with a higher risk of not fulfilling lease obligations.For more information, visit saferent.com.
CORELOGIC, the stylized CoreLogic logo, SAFERENT and REGISTRY SCOREPLUS are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.
My fave AAGP event is definitely the trade show! What’s yours?
February 14, 2012 by
Have you voted in AAGP's latest poll yet? Tell us which of AAGP's annual events is your favorite. I love the trade show because we get to see so many hundreds of our members all in one place, and the professionalism in our industry is truly on display. -Linda
EPA RRP Rule Certification Offered at AAGP
February 7, 2012 by
If you or any of your maintenance staff members need the required training to comply with the EPA's Renovation, Repair and Painting (RRP) Rule Certification, AAGP can help you. AAGP continues our partnership with The Lew Corp. to provide the training at our Bala Cynwyd location for just $195 per person (AAGP members). We have 10 spots remaining in our February 23rd class. Info.
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