Operations Management

Wehner Multifamily keeps a finger on the “pulse” of the property, in terms of personnel, rent rolls, delinquencies, rental rates, physical condition, and Operating Statements of the property. We believe it is no coincidence that our properties perform better than others - it’s a result of consistent monitoring of the property’s management to improve Net Operating Income.

In order to be successful in extremely competitive markets, Wehner Multifamily focuses on the following six items:

Physical Appearance of Property

In addition to making any necessary capital improvements, Wehner Multifamily will ensure that the staff is walking the property daily and addressing any issues that affect curb appeal. Ryan Wehner will perform informal property inspections on an on-going basis and a formal property inspection on a monthly basis. Ryan Wehner with the onsite help will perform an extensive unit by unit property inspection on a biannual basis.

Professionalism of Staff

To ensure the professional appearance of the staff-members, Wehner Multifamily has a written dress code. All employees are required to conduct business in a professional manner, with special emphasis on maintaining and fostering the integrity of both Wehner Multifamily, and the subject property.

Resident Qualification Standards

Wehner Multifamily’s Resident Qualification Standards will be consistently applied when processing applications for residency. Assuming the applicant qualifies based upon credit, a Criminal History will be run. Applicants must qualify based upon the full market rent of the apartment, and not based upon any discounted rent. In addition, a verification of income and rental reference are required of each prospective tenant. This will ensure a more credit-worthy renter who is less likely to be evicted or skip.

Customer Service/Retention

A primary focus is to educate associates on Wehner Multifamily standards of customer service and resident retention. Associates will be secretly “shopped” to ensure that they are applying the principles of leasing and customer service that they learned in class. Upon hiring, Associates sign a release authorizing us to have them audio and video shopped.  In summary, the staff will learn how to provide better customer service, which will translate into more leases and better resident retention.

Outreach Marketing and Implementation of Marketing Action Plan

The staff will be introduced to several programs such as The Wehner Multifamily Referral Program, and Preferred Employers Program. These programs are designed to offer incentives to external influencers by referring individuals to our Wehner Multifamily managed communities. Wehner Multifamily provides marketing flyers, brochures, posters, advertisements, etc., which can be custom designed to meet your property’s needs.

Although Wehner Multifamily does utilize print and online advertising, our main focus is on in-house direct marketing, which results in an optimal ratio of cost/new leases. Our staff sends direct mailers to competing apartments in the immediate area, and distributes flyers within a 2 mile radius of the subject property, in order to attract tenants who already reside in the area. This method is much more effective than blanket advertising in the DFW Metroplex.

Wehner Multifamily utilizes these active approaches to increase traffic, and subsequently occupancy rates, and does not employ the “sit, wait and hope” passive method utilized by the majority of apartment complexes.

Optimal Price Strategy

Based on our analysis, if we expect softness, offering concessions will be necessary in certain markets from time to time. In these softer markets, we feel that constantly offering large periods of free rent (2 month free) is a losing strategy in that it encourages unqualified traffic and leads to higher turnover. It is our experience that in order to achieve the highest possible revenue for the property, we will need to focus on both achieving the highest possible rent per lease and minimizing vacancy loss. The first step in this is to identify the property’s true price point in the market (net price after concessions). We then apply a price strategy for quoting rents, as opposed to quoting abnormally high rents with large free rent periods. The effect of this is to stabilize the income stream of the property and focus on real rent growth by steadily raising rents as market conditions improve or exposure decreases.

By focusing on real rent and lease expiration management, the staff can increase rents on more desirable unit types. The result of this plan is minimized vacancy loss by operating the property at sustainable rents.