Do you have a team meeting to start your week?
- Share the leasing goals for the week.
- Report results from the prior week.
- Ask for input on supplies to be ordered.
Knowledge Creates Ownership
Including your team in these discussions creates the opportunity for ownership in your property and its operations.
All too often, the team meeting is used to talk AT, or LECTURE your staff, not have a productive discussion that encourages new ideas or observations.
I’m often reminded of the Chicken Soup for the Soul story, where a member of the janitorial staff at NASA was asked about their job. The response, “I help put people into space, and we’ve put a man on the moon.” The goal/objective and successes of the team were the immediate response.
Explaining Property Performance
Does your team know the monthly or annual Gross Rent Potential for the property?
Is the current focus to increase rents? Reduce vacancy? How much rent was given away for the “I’m sorry” concessions in the last month?
Consider these talking points:
Having an apartment ready for move in on Friday instead of the next Monday, the extra three days of rent revenue generates how much additional income if this happened for every move in?
Exceptional maintenance on service requests, sparkling clean common areas could strongly influence an individuals decision to renew their lease or move. How much is your average turnover expense? Decreasing turnover, could save thousands of dollars per year.
What is the cost per individual to bring traffic to your property? Without attractive curb appeal, the glossy ad might generate interest, make the phone ring and even get an appointment. If the grounds aren’t crisp and clean, that prospect isn’t going to show up for the appointment. They’re going to drive on by.
Team meeting is the perfect opportunity to reward and congratulate for successes and accomplishments. Remember the goals for the week affect everyone. Share the challenge, then celebrate together.