Rent concession dollars add up. When we’re faced with a problem at our apartment community, rent concessions are often part of the solution. Problem Solving with Rent Concessions A concession generally solves one of two problems. One, we use dollars off to attract attention and remedy an occupancy dilemma. Second, we extend a financial apology […]
Preventive Maintenance is customer service! In fact, we should include preventive maintenance in our apartment presentation. We can explain the benefits of this feature. Unit inspections are often viewed by residents as an intrusion into the privacy of their home. Properly introduced and explained, the required inspections can be appreciated as a customer service. feature […]
The phone rings. It’s a resident calling to have us explain the process to give their move out notice. The standard response usually includes a question about when their lease ends. We explain either the 30 or 60 day lease termination notice. If its appropriate we review the lease break policy. We end with a […]
The change to Daylight Savings Time is a calendar point when residential home owners are encouraged to check the smoke detectors in their homes. Apartment residents can benefit by being encouraged to do the same. Time and time again, fires are reported with fatalities. These tragedies occur in both single family homes and apartments. It’s […]
Outreach Marketing for Seniors has changed. Connecting with today’s active independent senior requires a different focus in advertising campaigns. It requires adjustments to the advertising efforts to capture their interest. In the past, advertising for seniors was largely built around the strong influence of health care and medical needs. With the tag line, that 60 […]
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 […]
Many property management reports focus on occupancy. Every week we analyze the number of move ins and the pending preleases. But our progress is undermined by the number of move outs and the pending move out notices. Here’s the value of our lease renewals. The number of lease renewals is every bit as important as […]
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 […]