One of the great ways to improve NOI is to minimize concessions.
Remember that in a 8% Cap market that each dollar of NOI translates into $12.50 of imputed value. $25K of concessions equals a $300K reduction in value. This can make a material difference when selling the propertyor negotiating a new loan. Of course if you are keeping the property, the $25K goes to the owner.
Gracehill has done it again: they are offering free training on a subject that all multifamily management pros need to understand.
DATE/TIME: Thursday, November 12, 2009 – 4pm ET, 3pm CT, 2pm MT, 1pm PT
SESSION DESCRIPTION: Don’t slash your rents until you take the time to participate in this chat forum aimed at selling value versus concessions. If you’ve heard the old adage, “You get what you pay for,” then your customers have too! Learn from the industry’s leaders how offering specials is rarely the best answer and how reducing them is quite often the way to go.
COST: Absolutely free, thanks to Spherexx.com.
RSVP: Visit us at www.gracehill.com and look for the details of this event on our home page. Click the RSVP link to sign up and receive Chat Event Instructions. Then, login to Grace Hill about 10–15 minutes prior to the event and click on the Chat Room link, under the chat description, to be delivered to our Chat Room.
