
Multifamily Collective Podcast
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 compliance Chapters 00:00 Introduction and Industry Problem 00:30 Why is Renters Insurance Compliance a Persistent Issue? 01:02 Common Reasons for Policy Lapses and Cancellations 02:13 Risks of Uninsured Incidents in Multifamily Properties 03:01 Understanding Lease Requirements and Resident Liability 04:13 Impact of Policy Lapses on Property Risk 05:26 False Security in Compliance Reports 06:56 Technology Solutions for Tracking Insurance and Pet Policies 08:14 Industry Adoption of Proptech and Digital Tools 09:27 Addressing Tech Fatigue in Property Management 12:47 Operational Gaps in Insurance and Pet Policy Enforcement 13:32 Managing Compliance During the Year 15:19 Pet Policy Management and Screening 17:31 Impact of COVID on Pet Ownership in Multifamily 18:47 Launching Pet Compliance Solutions 20:18 Achieving 100% Compliance and Tenant Waivers 22:40 Technology for Certificate of Insurance Verification 24:36 Reducing Administrative Burden with Automation 26:37 Additional NOI Opportunities from Compliance Programs 28:59 Insurance Premium Discounts and Risk Management 33:11 Streamlining On-Site Team Operations 34:30 Key Questions for Evaluating Proptech Solutions 39:02 Kevin Jacobson’s Final Advice and Contact Info Foxen 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!

