Inspired Multi-Family Property Management Professionals Learn from the Best!
I thought this week I’d share some great links for people in the multi-family property management industry. We can all use a little help navigating the dynamic and sometimes complex world of property management from time to time, and my hope is these links will help you successfully navigate through the ins and outs of property management and answer any questions you may have. They are also great references to help you keep up to date with the latest and greatest industry information.
Institute of Real Estate Management (IREM). This organization is by far one of my two top favorite industry groups. Their in person and online courses are terrific and they have a wide variety of topics from commercial to residential property management, human resources, maintenance, and let’s not forget about the professional designations such as CPM, ARM, and so much more. If you are not a member, I strongly urge you to find a local chapter and join. It’s one of the best investments you can make for your career.
National Apartment Association (NAA). Another terrific group of very talented professionals who are dedicated to furthering the education and knowledge of those of us in the multi-family property management industry. Their annual education conference, Apartmentalize, is the best conference I have ever attended. The seminars and sessions they present are thorough, well presented, and always up to date with the latest and greatest our industry has to offer. Another can’t miss investment in furthering your careers.
Don’t forget about your local apartment association either! Most cities have a local apartment association you should join, which will automatically give you a membership with NAA. For example, there is the Charleston Apartment Association (CAA) or the Atlanta Apartment Association (AAA). Both are great groups of talented property management professionals who are not only very active in our industry, but in our communities as well. Check your city and state for more information.
Grace Hill (GH) has changed so much over the last 10 or so years and I am amazed at all they have to offer. From Fair Housing courses that are up to date and current, to maintenance, leasing, marketing, tax credit, first time managers, supervisory courses, and the list goes on and on. They even have “lunch and learn” online webinars which you can take during your lunch hour. Your company has to join but again, this is an investment in your employees futures…something I will sign up for any day of the week!!!
For those of you on the affordable side there are quite a few property management resources out there to help you manage your assets.
HUD recently released the 2020 Income Limits for HUD and LIHTC properties (HUD). Once you click the link you can follow the instructions for your city, state, or metropolitan area.
Novogradac is a great resource for LIHTC guidelines, training, and my personal favorite the Rent and Income Calculator (NOVOCO Calculator). You can get the current income limits and even the National Non-Metropolitan limits (if they apply to your property).
Each state agency responsible for monitoring tax credit properties also has a website with all the information you will need to operate and manage properties under their supervision. I suggest you go out to their website and look for their compliance manual … then read it. Each manual has a wealth of information on how they oversee properties as well as current information on rents, income limits and utility allowances. As an example here are some states in the southeast: South Carolina Housing (SC); Georgia Department of Community Affairs (DCA); Tennesse Housing Development Agency (THDA). Most state agencies have email blast lists you can sign up for to keep you current all any changes to their policies or the tax credit program itself.
There are other great resources online as well such as National Affordable Housing Management Association (NAHMA); Southern Affordable Housing Management Association (SAHMA); National Center for Housing Management (NCHM); Spectrum (Spectrum); Elizabeth Moreland Consulting (EMC); AJ Johnson Consulting (AJC); Zeffert & Associates (ZA), etc. The list goes on and on. Each one of these organizations have great training seminars, information, and email blasts you can sign up for.
Personally, I’m a HUGE advocate for training for all my staff partners. I learned years ago from Gerry Blonder “there is a budget for everything, except when it comes to your employees.” I am a firm believer in what Gerry practiced at his company, and what I practice every day. You can never have enough knowledge, training, or help in working through the situations we all encounter each day in the property management industry.
Quite a few of these organizations have online and on demand courses as well as in person training seminars and resource pages you can read or download. Start gathering information and set up a binder with tabs by subject matter so you always have it at your fingertips! You could call it your “Property Management Tips and Tools”.
Gaining property management knowledge and experience through engaged training opportunities
I hope you will go out and look at the links because I know they will help you each and every day at your apartment communities.
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