Tips To Continue Referrals From Valued Residents

Referral

We constantly analyze guest cards.  Identifying any trends or adjustments in how prospects are learning about our community.  With increasing exposure on a variety of internet locations,  general referrals and “word of mouth” continue to dominate the source of prospective residents. Why are these people talking about your community? In some cases, it is your current […]

Toast the New Year, Celebrate the Team Meeting

Toast the New Year

The “Toast” is an event.  It is a public gesture of celebration.  A time to celebrate accomplishments. The audience voices their support of the praise with the clinking of glasses, and a hearty, “hear, hear!” Celebration Meeting Theme We can use “The Toast” as a theme for a  team meeting at the beginning of the year.  This creates […]

How to Use Supply and Demand to Create Urgency!

Some of the most dreaded words from a prospect in a leasing conversation are, “I’m not planning to move right away, maybe in a month or two, or six months…” We want to create urgency.  Our apartments are vacant now!  We need move ins now!  Leases signed!  Commitments today!  Too often, the reference for a future […]

‘Tis The Season, To Lease An Apartment

Season leasing

The holiday season and the dreaded months of winter are often cited for the reason for decreased phone calls and visits to a property.  Resulting in lower closing ratios, almost matching the outside temperature. People don’t wants to move between Christmas and New Years. It’s complicated to move in the winter No one is looking at apartment advertisements, […]

Celebrate Lease Renewals

Benefits of Lease Renewals An effective resident retention program offers many benefits. The most obvious benefit is lease renewals. Increased renewals result in a reduced number of move outs. Reducing move outs reduces turnover expenses. This affects labor expenses for our team, contract and supply expenses. It will decrease vacancy loss or the marketing cost […]

Understanding the Impact of Late Rent

How is a property affected by late rent? Unpaid rent obviously affects a property’s financial performance. It’s lost or at least delayed revenue. Expense related to unpaid rent are filing fees, court costs and attorneys.  The impact on the property exceeds these financial costs. Legal Expense From Late Rent The cost of late rent collection […]

Starting the Day With Resident Appreciation

Breakfast On The Go

Dedicated to a freezing cold below zero Michigan Morning on February 2…a few years ago…..with Katie Bolger Vondra and her team.  The only thing better than Property Management Minutes, are Property Management Memories. Breakfast On The Go is a quick and easy resident appreciation event. . Organizing the leasing and maintenance team at the property […]

Using Your Calendar To Improve Your Marketing Plan

Marketing plan

Updating the outreach and marketing plan is usually scheduled quarterly, weekly, or at least annually.  Dutifully, plans are submitted to the appropriate source for review.  Task complete…Thirty, sixty’ ninety days later, update plan.  Task complete, check the item off the TO DO list. How is the plan integrated in to the weekly schedule of the apartment […]

Show Me The Money, Effective Rent Collection

Rent collection

Contacting residents regarding unpaid rent can be difficult.  To prevent the need for collection calls, we often incentivize timely rental payments.  However, apartment communities continue to have individuals that do not pay their rent on time. Tasking a team member with the responsibity to follow up on the individual with  unpaid rent generally has the […]