A property’s performance is measured by two components. The ability to generate revenue and the ability to control expenses, resulting in the Net Operating Revenue. Revenue is the product of rent collection. Rental revenue generated by occupancy and related fees are the driving forces for revenue generation. Without effective rent collection, achieving an occupancy goal […]
Again and again we see referrals as a top contributor in our source of traffic to our property. We monitor the reviews and encourage satisfied customers to share their experience. Even with a growing range of virtual advertising providers, the leading influencer in not only sending visitors to the property, but also visitors that make […]
Everyone loves an open house. Realtors have portfolios with hundreds of homes for sale. A simple phone call can arrange an appointment for a home tour. Placing a sign in the front yard announcing OPEN HOUSE TODAY, creates interest. The results are significantly different than the inquiries generated by the HOME FOR SALE sign. Open […]
The most valuable step to implement the monthly marketing plan does not involve the Product, Place, Price, Product or even People. To see results from the creative ideas brainstormed by the team; the ideas in the plan must be included in the weekly schedule. Updating the outreach and marketing plan is usually scheduled quarterly, weekly, or […]
Twas the week before Christmas, across all the land, Not a creature was stirring, a quiet day was planned. The banners were hung across the property with care, In hopes the prospects would find their way there. The team was gathered, it was team meeting time Work orders, turnovers, “Let’s fix the sign!” The Manager […]
Coveted by property managers far and wide is an individual with the knowledge and skill to plan, execute and care for grounds. The appearance of the grounds is the first impression. Hiring or discovering someone on your management team is blessed with a green thumb, strong knowledge of grounds, is truly a treasure. Most […]
Understanding the places where prospects learn about our property is key to influencing our advertising dollars are spent. We have an opportunity to increase the occupancy at our community simply by the conversations we have with local businesses. We can create referrals. Referrals are a growing contributor to the sources of traffic at an apartment community. […]
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 […]
Possibly the most valuable asset in property management is an experienced team. Properties with tenured, long time employees benefit from: development of annual systems. they have noticed, realized and anticipate occupancy trends. they create and build relationships with residents, which improves resident communication, rent collection and resident retention. Preventive maintenance is incorporated into the monthly […]