Resident Experience Flashcards
Building Relationship
relationships are directly related to occupancy rates
Creating rapport is key to building relationships
express a genuine interest, be open and friendly, create physical rapport, be an active listener, seek agreement
Generations in the marketplace
veterans (1926-1945), boomers (1946-1964), Gen X (1965-1979), Millennials (1980-2000), IGen (Gen Z)- 2001-present
Rental application
prospects
fees and deposits
collect fees and deposits when an applicant submits a completed application
Fair Credit Reporting Act (FCRA)
a law that identifies regulations for checking a prospective resident’s credit history
Fair and Accurate Credit Transaction Act (FACTA)
broadens the FCRA by extending allowable types of consumer reports and requiring notice of adverse actions
Income Verification
applicants must be employed or provide proof of income
Criminal History
inform the applicant of the criminal background checks, obtain written authorization, do not deny based on an arrest record
Legal Residence
verify legal residences- birth certificate, naturalization certificate, permanent resident card/green card, a passport or visa, i94 form
The lease
a legally enforceable contract that grants a resident the rights and responsibilities of possession and use of an apartment for a specified period of time
Preparing for move in
prior to move in prepare for the new resident, a move in inspection form, list of special instructions, copies of the lease, address change, a move in pack
communicating rent collection
establish a clear rent collection policy in writing
controlling resident turnover
staff performance, office responsiveness, office staff and work quality, maintenance response time, maintenance work quality, appearance of community common areas and grounds
customer service
soliciting feedback is a key to retaining and renewing residents
deductions from security deposits
damages, unpaid rent, unpaid utility charges, extended stay, inadequate notice, early lease termination, eviction
holdovers
renew under terms of previous lease, file court papers for possession of the apartment, offer resident a shorter term or month to month lease
types of eviction notices
pay rent or quit, cure or quit, unconditional quit
illegal evictions
do not move a residents belongings out, do not change the locks, do not have essential utilities turned off, do not threaten the resident
active lease files
ongoing, lock in cabinet at night
inactive lease files
five years
service request files
maintain a separate file for each apartment for the life of community, periodically clean out insignificant work orders
incident report file
five years, by month and year, keep copies of all resident notices
detailed unit status
3 years, preferably 4
data backup
daily backup: one week, month end financials-one year, fire safe
fair housing/ada modifications/accomodations
minimum of 3 but preferably 4
denied applications
3 years, preferably 4
Name the key steps to building relationships
express a genuine interest, be open and friendly, create physical rapport, be an active listener, seek agreement
% of today’s renters are ethnic minorities and % were born outside the united states
45%; 20%
Name the generations in the marketplace
veterans, baby boomers, gen x, millennials, gen z
You should explain to an applicant that the information collected is used for
qualification purposes
what laws govern the screening process?
Fair credit reporting act (FCRA) Fair & Accurate Credit Transactions Act (FACTA)
What are the steps of the screening process?
screen application, investigate info, review application and approve/deny, notify prospect
What is reviewed during a credit screening?
debt to income, rent to income, acceptable accounts ratio, FICO
You must provide notification within _ hours of the application date
72
Regardless of approval or denial, how should you contact an applicant?
telephone call
Name some of the basic elements of the lease
identify all parties, name of community, description of premises, duration of the lease term, rent amount, payment terms, community policies, rights and responsibilities
List items to discuss during new resident orientation
when and how to pay rent, location and use of amenities, resident referral program, service request, community policies, emergencies
What is included in a move in packet?
lease paperwork, community policies, a community convenience list, keys, welcome letter
When should you provide a list of the staff with contact information and a calendar of events?
in the resident newsletter
What are some keys to communicating the rent collection policy?
a clear rent collection policy in writing, make rent payment a habit, make rent payment convenient, notify before late or NSF fees, be consistent and firm
What should you do if you suspect or hear of criminal activity?
respond quickly, avoid confrontation, contact local law enforcement, document all incidents
When does resident retention begin?
the day the resident moves into the community
When is a resident considered moved out?
when all keys are returned
What should you do when you receive a move out notice?
send a letter thanking a resident for their residency and advising of move out requirements
What are the fundamental actions you should take during a move-out inspection?
use the move in/out checklist, photograph damages, charge reasonable deductions, do not remove any items left behind
What are some legal reasons to terminate a lease?
violation of rental agreement, providing false information on the rental application or lease
What is a holdover?
When a resident does not leave at the expiration of their lease term
What are the three types of eviction notices?
pay rent or quit, cure or quit, unconditional quit
