2,340 - Beyond Move-In: How Smart Operators Eliminate Compliance Gaps and Protect NOI

Kevin Jacobson https://www.linkedin.com/in/kevin-b-jacobson/ and Mike Brewer https://www.linkedin.com/in/mikebrewer discuss the importance of compliance in multifamily property management, focusing on renter's insurance, pet policies, and how technology can streamline operations, reduce risks, and create NOI opportunities.In this episode:- Importance of renter's insurance compliance- Risks of insurance policy lapses and cancellations- Technology solutions for compliance tracking- Pet policy management and screening- Opportunities to increase NOI through complianceChapters00:00 Introduction and Industry Problem00:30 Why is Renters Insurance Compliance a Persistent Issue?01:02 Common Reasons for Policy Lapses and Cancellations02:13 Risks of Uninsured Incidents in Multifamily Properties03:01 Understanding Lease Requirements and Resident Liability04:13 Impact of Policy Lapses on Property Risk05:26 False Security in Compliance Reports06:56 Technology Solutions for Tracking Insurance and Pet Policies08:14 Industry Adoption of Proptech and Digital Tools09:27 Addressing Tech Fatigue in Property Management12:47 Operational Gaps in Insurance and Pet Policy Enforcement13:32 Managing Compliance During the Year15:19 Pet Policy Management and Screening17:31 Impact of COVID on Pet Ownership in Multifamily18:47 Launching Pet Compliance Solutions20:18 Achieving 100% Compliance and Tenant Waivers22:40 Technology for Certificate of Insurance Verification24:36 Reducing Administrative Burden with Automation26:37 Additional NOI Opportunities from Compliance Programs28:59 Insurance Premium Discounts and Risk Management33:11 Streamlining On-Site Team Operations34:30 Key Questions for Evaluating Proptech Solutions39:02 Kevin Jacobson’s Final Advice and Contact InfoFoxen is a leading proptech innovator delivering value-add solutions and services that increase revenue and reduce risk for multifamily owners and operators. Our fully integrated platform enables 100% renters insurance compliance, rent reporting and credit building programs for residents, and streamlined pet management. Learn more about Foxen: https://www.foxen.com/🔔 Click subscribe to @MultifamilyMediaNetwork on YouTube and stay up to date on our growing lineup of multifamily industry leaders and must-hear conversations! 📰 Sign up at https://www.multifamilymedianetwork.com/ to receive our newsletter and explore our library of podcasts and blogs from today’s multifamily experts!