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Published on Feb 14, 2014
"Institutional Knowledge" David Fromm / Senior Manager, Curriculum and Training
Let's face it, you work in a high-turnover industry. Your talented portfolio managers often move on, taking their skills with them. Yes, it's important to invest in an employee, but it's CRUCIAL TO INVEST IN SYSTEMS that help the entire organization get better. Here are a few things to focus on:
• First, your portfolio managers need to know how to collect and examine the fundamentals. Vacancy rates, collection rates, debt coverage ratio, cash flow and other indicators of a healthy property. • Second, these fundamentals need to become a language for the entire organization's portfolio. Everyone, from the executive director to the board, should be able to quickly analyze real estate operations by using these fundamentals. • Third, analyze your ENTIRE portfolio broadly. Success is more than your day to day metrics. It's also the health and happiness of your residents. THAT is your mission.