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 […]

Six Suggestions For Resident Retention

Many property management reports focus on occupancy. Every week, how many move ins will you have? What do you have as preleases? The number of lease renewals is also important. Renewal is a Satisfaction Indicator Securing the move in is only the first step toward building a relationship with a new resident. As time goes […]

Three Tips for Preparing Your Community For An Emergency

Emergency contacts

  Emergency Contact List Keeping the Emergency Contact List updated is the first step for a property’s emergency plan. This includes a reminder to contact alarm companies or other support service providers with changes in telephone numbers or staffing.  This should be included on the team meeting agenda.  When an alarm company is unable to […]

The Silent Treatment, Overcoming The Just Looking Response

Questions

Imagine a leasing consultant returning from an apartment tour. It’s an apartment with a less than great view, it’s been vacant for 45 days. It’s on this weeks focus “hot” list. The manager asks, “How did it go, did you get a deposit?” The leasing response, “Great, they didn’t even comment on the view! They’re […]

A Passing Comment Can Create Referrals

Referrals

Where does your leasing traffic come from?  In many cases, referrals are a strong contributor to the sources of traffic at a property. The days of depending on a newspaper advertisement to be your leading source of traffic are long gone. Internet ads, locator services are among the sources that put information at prospects fingertips […]

Preventive Maintenance, Taking The Time Saves Time

Schedule

How do you find the time to include preventive maintenance in a schedule that is hard to predict?  The volume of service orders varies from day to day.  Leasing always seems to need the one apartment that isn’t ready. “Preventive Maintenance can save time, and money for maintenance operations.  Building components like a water heater, […]

Referred By…..Encouraging Referrals From Former 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 […]

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 […]

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” […]