The Value of a Move In Concession

The value of dollars off move in specials and discounted rent concessions is often discouraged by marketing experts.  Some of the negative impact from concessions are: -The value is short lived. -Impacts renewal rates. -Frustrates existing residents. Matching the Market In many markets, property managers experience competition where every property is utilizing concessions. The prospect […]

Savvy Shopper, Knowing Your Competition

shopping

It seems like every time I visit an apartment community to collect information for my market survey, I leave with another feature discovery that will help me convince prospects my apartment community is the best choice for their new home. Shopping the competition is required each month.  Updating a market study analyzes pricing and availability. […]

Spring Forward , Its Time To Check Your Smoke Detector

The change to Daylight Savings Time is a calendar point when  residential home owners are encouraged to check the smoke detectors in their homes.  Could residents in apartment communities be encouraged to do the same?  Time and time again, fires are reported with fatalities.  It’s hard to understand how this happens with the range of […]

Hiring New Leasing Staff? Look for Someone Who Talks to Strangers

“Do you talk to strangers?”  Asking a leasing candidate about a conversation with a stranger is a good starting point to understand how easily they can connect. The answer to this question from a prospective leasing consultant may give you some insight into their character and personality.  Interview questions for an individual that has not […]

Customer Service Begins At Home, Acknowledging Our Internal Customers

Customer service

Service for the customer is not limited to our residents or applicants.  Within the management organizational structure there are many customer relationships. Internal Structure Every organization has a variety of departments:  Human Resources, Accounts Payable, Accounts Receivable, Operations and Information Technology.  Each of these have customer service relationships to each other.  Without cooperation and a […]

Just Right Pricing, A Personalized Approach to Affordable Leasing

Does your property offer “Just Right” pricing? If its an affordable property, it probably does, and this unique sales tool is overlooked, ignored, or forgotten.  Instead of focusing on the regulations and the administration of the policies putting the applicant as the focus. The catch phrase describing most affordable properties, “Rent Based On Your Income” […]

Leasing Script Please, Award Winning Results!

Training for new leasing staff usually includes the introduction of a leasing script.  A role playing scenario is offered and the squirming begins.  An individual with sales skills or a dynamic personality quickly explains a script isn’t necessary.  Truthfully, practice improves performance.  Practicing presenting features describing benefits and overcoming objections will improve leasing skills. Using […]

Turnover Totals, The Financial Benefit of Reducing Moveouts

The related costs of apartment turnover are often included in discussions of the impact of move outs on an apartment community. Rent loss due to days vacant. Marketing expense to advertise for potential residents. Time and expense to screen and process potential residents. In addition there are the obvious related expenses: Maintenance labor Miscellaneous prep […]

Service Request Follow Up Calls, Resident Feedback Please!

Taking the time to make phone calls after service is completed in an apartment may seem to be a low priority task or even a time waster. “Maintenance does a great job, I hear that from every resident I call.” Wow! What a great problem to have! With that factual information, a property could state […]