Even though we’re into February, it’s still not too late to make some good new year’s resolutions.  Here’s some I came across that bode well for good business, that are well worth making and following though.  I especially liked the honesty of the first one.  While many employees fear their losing their jobs, honesty is always the best policy. 

Frank Apeseche agrees. The CEO at Boston-based Berkshire Property Advisors has reduced his firm’s workforce by about 3 percent this year. “If you’re honest and communicate early, the ability of people to handle bad news is very impressive,” he says.

The second resolution re Property Management is a good one, as well.  To keep current residents in place, sometimes sacrifices have to be made on the part of the owners, such as offering incentives and bonuses…free premium cable TV service, which costs $18 to $28 a unit per month, and free laundry usage (limited to a certain number of loads per month).  For more see the article at http://www.multifamilyexecutive.com/industry-news.asp?sectionID=0&articleID=837414

Resolutions

• Executive Leadership
  I Will Communicate Regularly With My Employees-Even When It’s Tough.
• Property Management
  I Will Keep Heads in their Beds.
• Human Resources
  I Will Find Creative Ways to Keep the Team Together.
• Marketing
  I Will Focus on Promoting Value, Not Luxury.
• Construction and Development
  I Will Hang on to What I’ve Got and Be Opportunistic About What Comes Next.
• Finance
  I Will Work to Build a Cushion of Cash, Even If I Am Late to the Game.
• Acquisitions
  I Won’t Wait for the Bottom to Buy, But I Will Underwrite Well.
• Green
  I Will Get on the Green Bandwagon and Find a Standard that Works For Me.
• Technology
  I Will Squeeze Every Dollar Out of My Tech Investments.

Please contact me at Pete@ConsultPete.com or 925-719-3569 if I can be of assistance. To learn more about my background, visit Consult Pete. To learn more about my company strategy, visit Commercial MasterMinds.