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As we approach 2025, it’s essential for manufactured housing community owners, investors, and CFOs to assess whether you’re fully capturing every revenue opportunity. From rent adjustments to utility billing, even minor revenue leaks can add up over time. Below are some key areas to evaluate, with insights on how ManageAmerica can help streamline these processes to ensure you’re not leaving money on the table.
Table of Contents
1. Are You Maximizing Rent Potential?
Do you have a system in place to ensure every resident is receiving regular rent increases where applicable?
Have you recently reviewed market rental rates to make sure your prices are competitive?
Conducting regular market surveys and comparing your rates to local benchmarks can help you stay aligned with what everyone else in your area is charging. However, manually tracking market shifts can be time-consuming and requires frequent updates to maintain accuracy. ManageAmerica simplifies this process, enabling you to adjust market rates quickly and seamlessly via the Market Rent Updater and the Lease Management System. With ManageAmerica, staying competitive has never been easier.
2. Are All Rental Leases Easily Renewed on Time?
Do you have a system in place to ensure all rentals are renewed appropriately?
Are you charging a month-to-month fee if residents don’t renew their leases?
Do you have a system that automates the next rent increase date during the move in process? With ManageAmerica you decide if the next lease renewal and rent increase will be on the day after lease expiration or a particular month of the year. In addition, you can activate month to month to apply automatically the day after lease expiration as well. ManageAmerica makes it easy to see all upcoming lease expirations and month to month fees.
3. Are You Accurately Billing Trash & Other Additional Services?
Are all recurring charges, such as trash, storage, and parking, being accurately billed to each resident?
Additionally, have you recently reviewed and updated late fees and NSF fees, ensuring they reflect current market standards?
It’s important to ensure that any service fees reflect actual costs, especially with services like trash that may experience rate increases over time. Regularly reviewing these charges and adjusting rates when costs rise helps avoid absorbing expenses that should be passed on to residents. Manually tracking and adjusting these charges can be time-intensive and error-prone. ManageAmerica’s reporting and monthly review process (BSR) tracks all recurring charges, including trash, storage, and parking fees, making it easy to apply necessary rate adjustments. This allows your team to focus on higher-value strategic tasks rather than chasing these smaller charges.
4. Is Your Utility Billing Recovering the True Cost?
Have you reviewed your utility billing structure to maximize cost recovery?
If you’re not using submetering, have you explored options like Ratio Utility Billing System (RUBS), which allocates utility costs based on allowable ratios, to recapture utility costs?
Have you investigated the cost of installing submeters versus the recovery you’re missing by not using submetering?
Regularly assessing your billing setup and evaluating the benefits of RUBS or submetering can help ensure you’re not absorbing unnecessary utility expenses, and that you are charging maximum allowable rates and fees for your portfolio. However, these adjustments often require extensive manual tracking and research in addition to legal review for what’s allowable by law wherever your communities are located. ManageAmerica streamlines utility billing, RUBS, and submetering, helping you maximize cost recovery with minimal manual intervention.
5. Are Outdated Concessions Costing You?
Have you reviewed ongoing concessions and discounts to ensure any unnecessary agreements are deactivated?
Periodic reviews of concessions can prevent missed revenue opportunities due to outdated discounts and ensures you aren’t giving free rent to vendors, lenders, or dealers that may no longer serve your bottom line. Yet, manually keeping track of these on top of resident accounts can be tedious and easy to overlook. ManageAmerica provides reporting tools that highlight inactive or outdated concessions, ensuring that all potential revenue streams are actively contributing to your bottom line. In addition, concessions can be set up in the resident file to deactivate automatically at a future date.
6. Are Routine Tasks Consuming Too Much Time?
Do your employees spend a large portion of their day on manual tasks like check scanning, lease signing, and rent collection?
Implementing automated processes for these day-to-day tasks can reduce the workload and free up your team for more value-adding activities. While it is possible to manage these manually, these tasks often require extra hands and add little strategic value. ManageAmerica’s digital tools – from check scanning to lease signing – automate these essentials, allowing your team to focus on what truly matters and improve operational accuracy along the way.
Maximize Revenue in 2025 with Efficient Manufactured Housing Management
Managing a manufactured housing community involves many moving parts, and ensuring every dollar is accounted can be challenging, especially when processes are managed manually. Empower your managers with high-end software built specifically for manufactured housing to anticipate all of these needs and more. ManageAmerica’s comprehensive platform automates critical tasks, streamlines revenue capture, and reduces manual hours, freeing up your team to focus on higher-value activities.
Is all of this on autopilot to ensure you’re not leaving money on the table? If not, contact us for a demo and see how ManageAmerica can maximize your revenue and streamline your operations in 2025!