According to Pew Research, there are almost 80 million “card-carrying” baby boomers. This energetic group of citizens accounts for more than a quarter of the total US population. The growing demand for active adult communities presents unique challenges and promises for property managers looking toward the future.

To put the staggering figure above in perspective, research projections suggest that between 8,000 and 10,000 boomers will reach retirement age every day for the next decade and a half. Many retirees from the northeastern seaboard and northern mid-western states migrate to warmer southern climates. However, property owners and self-managed property managers can learn valuable strategies for building a thriving adult community in any locale by taking a virtual peek at the way Florida properties woo 55-plus tenants.

There is a strong appetite for defining property cultures – personalities, if you will.  Although wooing this group presents some challenges, it doesn’t have to be difficult. True, they are more engaged than past older generations, but identifying the culture helps you ascertain where you expect your property to grow. The best strategy is to look ahead to where you want your property to be in the next five to ten years and begin shaping your community vision today.

Whereas past generations were content to settle into a leisurely lifestyle, this generation has more relative connections to the Millennials than to their parents’ generation. They cling to nostalgic music and movies, but are more likely to watch them today with a download to their laptop than as reruns on the RCA.

Common areas and amenities should reflect this lifestyle. A tour of popular South Florida adult communities reveals game rooms furnished with corner billiard tables and space dedicated to mid-week mahjong clubs. Beneath the framed Casa Blanca poster in the foyer you’ll see a docking station and information about the property-wide Wi-Fi service.

Another great feature many properties add is a fully furnished library with classics and new releases.

Each community has similarities, but a different feel the moment you enter the property. In a target rich environment, drawing in the surrounding area for additional engagement opportunities elevates tenant satisfaction. Developing close ties with the broader community – essentially bringing outside interest into the property – strengthens relationships.

A 2012 Wells Fargo study revealed that more than a third of retirees who accumulate less than $250,000 before reaching retirement age will continue working out of necessity. Some expect to work at least until their 80th birthday.

Since today’s 55-plus generation is working longer than their parents and grandparents, adding on-site business centers is often a bonus for prospective tenants. Supporting work-at-home ventures, when space and zoning allow, provides another layer of commitment to meeting resident needs.

The demand for quality apartment homes will continue to increase over the next 10 to 15 years. Outdoor space is both a pleasurable commodity and a “must-have” for many active adults. Urban properties – those outside the city proper – will enjoy increased revenue potential since many aging adults are more often able and willing to pay more than other groups for the right property.

While the business model doesn’t necessarily change, active older adults are reshaping rental communities. Focusing on the quality of your community and the quality of your services is an excellent place to start.

Boomers are actively looking for retirement communities, are you ready?

Appfolio | Company Website | LinkedIn Connect | AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money.  Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.

There are pros and cons associated with allowing residential tenants to invest in leasehold improvements during their tenancy. Deciding if encouraging tenant improvements is right for your property depends on your short-term and long-term financial goals.

Temporary vs Traditional Leasehold Improvements

Before you decide if incorporating a residential leasehold improvement strategy for your multifamily property is wise, you must have a clear picture of the benefits and pitfalls involved and understand how temporary improvements differ from permanent upgrades.

Temporary leasehold improvements typically involve minimal structural changes. Residents may want to undertake modifications that make the space more livable and aesthetically appealing. Temporary improvements are reversible – they can be “undone” at the end of the lease without causing extensive damage that requires remediation to return the home to its original condition.

Traditional leasehold improvements involve more extensive structural changes and include structural build-outs like adding or moving walls, replacing windows and upgrading appliances. Ownership of improvements reverts to the property owner/landlord when the lease expires.

Added Value and Future Benefits

One of the major benefits of allowing tenant leasehold improvements is the boost in customer satisfaction that comes from designing a space is customized to one’s lifestyle. This enhanced satisfaction often translates into renewals.

Two other potential windfalls for property managers are improved marketability and tax advantages in the form of depreciation. Some states and municipalities have a complex tax code for commercial and residential leasehold improvements; please check with all tax authorities before making a final decision.

Under GAAP (generally accepted accounting principles), improvements have a useful life of approximately 15 years. However, experts caution that IRS rules are fluid; changing frequently with extensions and renewals at the whim of Congress. Before initiating a new policy, contact your financial advisor or an IRS accountant to confirm allowable property modifications and amortization time tables.

Potential Pitfalls for Property Managers

One of the most obvious potential pitfalls for managers who choose to allow full-scale leasehold improvements for residents is dealing with floor plan changes. Apartment home communities typically offer two or three floor plans consistently throughout the property. Some landlords may hesitate to relinquish control over the interior layout.

Marketing materials may need to be changed as each lease expires, if the scope of change significantly alters traffic patterns or room sizes.

To overcome added expense associated with updating marketing material, property managers could replace print brochures and marketing materials with digital brochures on virtual tours. Although there would still be some costs associated with updating online tools, printing costs would be eliminated.

Another way to control added expenses would be to limit the number of homes available for leasehold improvements.

Costs vs Return on Investment

Adventurous property managers may embrace leasehold improvement arrangements with residents to create a unique apartment community with diverse floor plans and interior design features. If monitored properly, the property owner enjoys increased property value and the residents can design home office space, open floor plans and sleeping quarters that truly fit their lifestyle and decorating preferences.

What do you think? Is your property ready for more flexibility?

Appfolio | Company Website | LinkedIn Connect | AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money. Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.

Apartment markets continued to expand in the second quarter of 2014, as growth accelerated in all four indexes in the National Multifamily Housing Council (NMHC) Quarterly Survey of Apartment Market Conditions.

The market tightness (68), sales volume (56), equity financing (58) and debt financing (68) indexes all improved from the first quarter this year and marked the second quarter in a row with all above the breakeven level of 50.

“Despite concerns in some quarters about the pace of new development, most markets appear to be absorbing new supply with no downward pressure on rents or vacancies,” said NMHC Senior Vice President of Research and Chief Economist Mark Obrinsky. “The improvement in market tightness was particularly noteworthy. Four years into the apartment industry recovery and expansion, the increase in demand continues to outstrip the pickup in new supply.”

The survey also asked about urban vs. suburban development. Four in ten (43 percent) reported an increased share of urban development relative to suburban in the last six months, compared to one quarter (27 percent) reporting an increased share of suburban development. Of the suburban development taking place, more than half (54 percent) reported more town center-style developments, with 39 percent reporting no appreciable change and 7 percent reporting more garden-style developments. (These results exclude “Don’t know/not applicable.”)

“Early in the recovery, apartment development was concentrated in downtown areas of large cities. While such areas continue to attract investment, new construction is expanding more broadly into suburbs as well. But developers are bringing urban style to suburban locations, with a heavier emphasis on ‘town center’ communities than we’ve seen in the past,” said Obrinsky.

Key findings include:

The Market Tightness Index rose from 56 to 68. The percentage of respondents who saw looser conditions continued to decline, down from 20 percent to 15 percent. While this improvement is partly seasonal, the index is higher than the average for the July quarter since the survey began 15 years ago.

The Sales Volume Index increased slightly from 52 to 54. About half (51 percent) of respondents felt that sales volumes were unchanged from three months earlier; almost one-third of responses (29 percent) reported a higher sales volume, and 16 percent reported a lower number of sales.

The Equity Financing Index rose five points to 58. The majority of respondents (56 percent) continue to report that the availability of equity financing is unchanged from three months ago—similar to the past three quarterly surveys.

The Debt Financing Index increased to 68 from 63. Almost one-third (30 percent) believed that conditions are better, and only 3 percent felt that conditions were worse, a marked decline from January’s Quarterly Survey, when 30 percent felt conditions were worse.

The July 2014 Quarterly Survey of Apartment Market Conditions was conducted July 14-July 21, 2014; 110 CEOs and other senior executives of apartment-related firms nationwide responded.

American Apartment Owners Association | Company Website | At the American Apartment Owners Association (AAOA), our mission is to serve the interests of landlords, real estate brokers, property managers, real estate owners and apartment building owners nationally.  Visit www.AAOA.com for more information about membership details!

We all know that the main goal of our marketing and advertising efforts is to get the ringing phone to turn into a walk through the door then transform into keys in hand and a happy renewing resident. Doing this day in and day out can sometimes seem like a daunting task, with the amount of effort it takes truly to make residents feel at home in their new community. Leasing someone their new home is a valuable experience and making a reliable human connection can make all the difference in their life and your business.

Recently, I was talking with a client about how he could improve his leasing efforts and turn those ringing phones into renewing residents, without making huge capital investments. The one point I needed to explain to him was the importance of maintaining exceptional service, quality and consistency, in order for both prospects and residents to be proud of the place they call home. The secret is not in adding a brand new swimming pool or state-of-the-art gym – it is in creating a consistent experience that surpasses expectations. The best part of all? This can be achieved by developing a weekly general maintenance schedule and checklist to ensure all the “little things” are treated with the same importance as the big ones.

The Physical Asset

GROUNDS: Ensure the grounds are trash-free, windows are without cobwebs; paint is touched-up, and lighting fixtures are working and clean

BALCONIES AND PATIOS: Check that all balconies and patios are up to the standard outlined in the resident handbook

PARKING AREAS: Ensure there are no stored vehicles, expired tags or damaged carports within the parking area. Check for paving and restriping if needed

LANDSCAPING: Ensure grounds are well-manicured, green and freshly planted

PAINT: Create a short term plan to ensure paint always looks its best

BUILDING EXTERIORS: Ensure all balconies, staircases and siding is in good repair

SIGNAGE: Check for missing numbers or letters from the buildings. Ensure flags and banners are in good shape and clearly visible

LEASING OFFICE: Ensure office is clean and inviting, has refreshments and creates an overall pleasant atmosphere – taking all of the senses into consideration

COLLATERAL: Make sure all materials are crisp, clean and visually appealing

TOUR ROUTE: Check tour route for cleanliness and trip hazards

MODELS: Ensure all models and vacant units are clean and inviting and temperatures and scents are not overwhelming

AMENITIES: Keep all amenities well maintained

The Missing Pieces

UNIFORMS: Ensure all leasing uniforms or attire are modern, clean and visually appealing

ATTITUDE: Have weekly check-ins with leasing team to ensure they are excited to lease, warm, inviting and ready to sell and retain

READINESS: Ensure your office hours are stated and followed and the leasing team is answering the phones happy and excited to assist

LEADERSHIP: Ensure you are leading your team the best that you can and continually gauge whether incentives or additional motivations are needed to ensure a consistent, satisfying experience
ONLINE ILS (internet listing service): Check that all advertising, both in print and online are current, consistent and correct.  All these “little things” that we sometimes take for granted are what prospects and residents consider the “big things.” Our goal is continually to remind residents that they are important and appreciated by showing care for their home and care for them as individuals. When this happens, residents are the first to refer you to anyone who may be seeking a quality place to live. If they are happy with their home, they will be happy to make a referral and less likely to move on. Remember the impact you have on your resident’s life that can be remembered for a lifetime – long after the lease expires. Also, we all know that happy residents are our greatest advertisements.

Lisa Young, CEO & Founder of Multifamily Zone, LLC provides Marketing, Sales & Project Management Services to the property management industry. MultifamilyZone.com is all-inclusive resource, offering everything multifamily professionals need, including industry information and news, products, services, technology tools, marketing trends, training opportunities and much more! Our goal is to assist individual owners, as well as fee and national management firms in the operations of their assets. Lisa can be contacted at lyoung@multifamilyzone.com or 650.279.9799.

MultifamilyZone.com | Company Website | MultifamilyZone.com provides a listing of products, services and industry-related companies, technology tools, marketing trends and is a resource for information and news. Our goal is to assist individual owners, as well as fee and national management firms in the operations of their assets by connecting them with professional vendor partners.

The primary problems for nascent real estate investors are knowing what to ask and whom to trust during this phase. Small property owners looking for growth or expansion opportunities often start by finding an experienced broker to walk them through the process. While there is nothing wrong with hiring a broker, it’s important to realize that real estate brokers typically work for the seller, focusing on moving inventory as quickly as possible at the highest price.

Understanding valuation strategies and creating a list of essential questions to ask during the search for new apartment homes can make the difference between just buying more units and investing in property with substantial income potential.

Be Inquisitive About Market Factors

As a property manager, you may have read a market analysis at some point during your experience in the real estate industry. But, not every market analysis is based on the same data set. To provide the highest benefit for an investor, a market analysis should minimally answer three basic questions:

1.Are there renters seeking homes in the area that fit the size, location and property type?
2.How quickly can vacancies be leased?
3.What determining factors impact rent rates and retention percentages?

Other considerations are the supply side and demand side determinants. A good study reveals important data about the demographics and economic conditions in the region. For example, on the demand side you’ll want to ask a few basic questions to explore tenant potential. Does the region overall enjoy stable growth and migration patterns? Will this investment produce affordable homes that parallel income levels and population purchasing power?

Conversely, an analysis of the supply side will answer questions about existing conditions. Are rent rates rigid or elastic and responsive to changing conditions? What are the current absorption rates, vacancy rates and length of occupancy for similar properties? Can the proposed investment compete with completion effectively based on past performance?

Understanding the Nuances of Valuation Variables

Before accepting a blanket statement of value from any authority, ask what basis the valuation is grounded on. Determining a property value is highly subjective. Whereas a tax entity follows a precise formula to establish property worth, owners often attach intrinsic values based on length of ownership, personal time investments and relationships with current and past tenants. Each independent valuation is based a set of assumption and both qualitative and quantitative parameters.

While there is no one standard for setting value, gather information about the guidelines used to set the financial value. Ask if the value includes geographic considerations, dedicated market research and both primary and sub-market operating success ratios.

Marketability and Competitive Edge

Even if you find a property that has a strong reputation in the community and has market research that indicates strong revenue potential based on market analysis and past performance, don’t ignore marketability.

Marketability refers to the ease with which a product or service can be bought and sold in the open market. Residential units are highly marketable when the property has one or more highly desirable characteristics – such as location, price point, floor plan design or a rigorous sustainability program.

A wise property manager goes beyond reports that suggest positive marketability potential to explore competitive apartment home communities nearby. By comparing similar properties, owners and managers have unique insights helpful to measure marketability of prospective investment properties.

Growth, value, and marketability are equally important when planning an expansion strategy. Make sure you’re asking the right questions on your decision-making journey.

Appfolio | Company Website | LinkedIn Connect | AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money.  Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.

Dallas, TX (07 23, 2014) – The RRD, (www.therrd.com formerly The Rent Rite Directory), has grown into the one-stop-shop for services geared directly to the national real estate industry.  Many are beginning to call it “The Amazon of Real Estate” with its easy to use collection of real estate services.  The RRD offers all of the following real estate services with more on the horizon.

The RRD Real Estate Services:

1.            Tenant and Employment Screening

2.            Incident Reporting Database for communities

3.            Collection Services

4.            Neighborhood Email Alert System

5.            Vendor Search Engine

6.            Find Energy Providers

7.            Property Insurance

8.            Liability Insurance

9.            Renters Insurance

10.          Real Estate Job Board

11.          Rental and Sales multiple listing service (coming soon)

12.          Management Company referral program

13.          Ability to integrate with most Property Management software

The RRD originally launched as an incident reporting database for property owners and managers to keep track of skips, evictions, and other kinds of tenant activity.  “We originally built the site to fill a need.  No company had a Fair Credit Reporting Act compliant searchable database that was keeping track of individuals that had skipped out on their lease, or had damaged their rental units.   We worked with local attorneys and a few judges around the country to create this free, F.C.R.A. compliant database. ” said by co-founder, George Pino.

The RRD’s services quickly evolved to encompass a wider range of needs.  While the incident reporting database has remained free, clients continued to ask for additional services which The RRD has delivered every time.  Each added feature has proven to make the clients’ business more efficient not only in time savings but financial gain.  The RRD has gained market share from several new segments of the industry from Agents and Lenders to national REITs with these added features.  The RRD has increased growth by an average of 25.33% each month since January of 2014 and continues to add additional services to increase efficiencies for the majority of their clients real estate needs.

The RRD has the ability to be integrated into most property management software to make it easier to run reports right from the system they’re most familiar with.  Software companies that are interested in integration should contact The RRD at 1-855-733-2289.

The RRD will be launching a rental and sales multiple listing service within the next month, making it even easier to stay in one place on the web for your real estate needs.

For more information, visit www.TheRRD.com.

Summer isn’t the only time landlords face liabilities, but it can create the perfect storm through increased stress on the rental property at a time when there could be decreased supervision.

It’s important to plan ahead and avoid any risk to your profits:

Remodeling and Repairs Can Increase Liability

Many remodeling and repair jobs are performed in the summer when the weather is more predictable or accommodating. But contractors quickly become over-scheduled. To stay on task, some landlords or property managers will be forced to hire unknown or untested workers.

Make sure you vet your contractors to avoid summertime disasters. Anyone working on the property should be checked for criminal history. Check references from previous clients to avoid substandard repairs. Make sure the contractor is aware of building codes and what standards have to be maintained. Avoid using unskilled workers — it may not be worth the cost savings if something goes wrong.

Longer Days, Better Grounds Patrol

The simple fact that more tenants are out and about enjoying the property increases the need to inspect the grounds. Everything from added foot traffic and more visitors, to increases in trash or animal waste can cause premise liability to increase. Make sure you or your staff are kicking it up a notch when it comes to monitoring the property.

Vacations Leave Landlords Vulnerable

Summer vacation schedules can cause disruption in property management service. Repairs may be delayed until the maintenance supervisor is back. Tenant complaints may go unanswered while the landlord or manager is on vacation. Make sure you have the coverage you need to do the job at all times because you can’t put the property on hold.

Of course, summer isn’t the only time these liabilities creep up, but it may be the costliest season for your property. With proper planning, you can avoid losing money during the summer months — and throughout the year.

American Apartment Owners Association | Company Website | At the American Apartment Owners Association (AAOA), our mission is to serve the interests of landlords, real estate brokers, property managers, real estate owners and apartment building owners nationally.  Visit www.AAOA.com for more information about membership details!

Value is a complex concept. Discovering the true value of multifamily housing in a given region – neighborhood, town, state, etc. – involves far more than simply comparing similar properties’ selling prices and revenue streams.

Investors and property managers often focus on the hard numbers on their financial statements, comparing revenue to expenses and depreciation rates against future gains. However, understanding how vital apartment homes are to sustaining a healthy national economy sheds new light on the enormous value of each multifamily community.

After the construction ends, the real financial impact begins. There are dozens of research studies that confirm new apartment home construction funnels billions of dollars into the economy each year. However, only recently have researchers begun to explore measurable benefits that apartment renters contribute to the local and national economy.

George Mason University’s researcher Stephen S. Fuller explains that people fail to appreciate the positive economic role that apartment dwellers play within their local environment.

Based on his study, The Trillion Dollar Apartment Industry, Fuller reported that renter spending contributed more than $885 billion dollars to the national economy in 2011 compared to only $42.5 billion generated by new apartment home construction during the same period. Renter spending exceeded the economic impact of new construction more than 20 times.

Plus, renters spend more money locally than homeowners and re-invest roughly 75% of their disposable income in goods and services manufactured domestically in the United States.

Keeping the community working and thriving.  Local spending and permanent jobs for workers living in and near these multifamily neighborhoods contribute to economic growth and stability. The ongoing need for maintenance staff, property management administrators and third party vendors to keep the property in good condition provides jobs long after the construction phase ends.

These permanent jobs ensure funds are available for civic improvements and entitlement funding. In essence, whether the property is an upscale high-rise in a trendy downtown district or a sprawling complex in an economically depressed area, apartment homes create a chain-reaction that feeds retail, government and charitable activities.

Identifying Regional Impact on Apartment Home Values

It is clear that apartment homes financially impact the surrounding area, but the reverse is also true. The art of placing value on a given property includes evaluating the benefits outside the property perimeter. Natural disasters, industry growth or stagnation, and availability of comparable units all impact vacancy rates and rent structures.

Existing apartment homes also follow diverse management protocols based on population, employment growth or decline, rent ceiling caps and median income levels. Chief economist Dave Crow told Housing Now that 2013 production (new housing starts) was still 50% below normal. It would be a serious mistake to assume low inventory automatically equates to higher rent potential.  It is important to evaluate market availability as only one component among many determinants.

Multifamily housing plays a vital role in our communities. Placing a value on these neighborhoods is a complex process. Property managers who fully engage with the surrounding community contribute positively to the chain reaction.

Appfolio | Company Website | LinkedIn Connect |AppFolio, Inc. develops Property Management Software that helps businesses improve their workflow so they save time and make more money.  Appfolio submits articles & blogs including topics of Resident Retention, Improved Owner Communication, Time Management, and more.

Remember, an apartment building is a business. An individual rental unit is part of what contributes to the success of that business.

Making a unit rent ready may be the single most expensive expenditure an owner or manger does on a regular basis. Put too little money into the unit and the business may suffer due to being unable to compete in the market. Put too much money into the unit and the business may suffer because of a lack of cash flow or poor return on investment.

The trick is finding the happy medium of being competitive in the market while not over capitalizing in the process of making a unit rent ready. In other words, keep your eye on the bottom line. A rental units’ purpose is to generate income for the business. This does not mean you use only the cheapest materials or the lowest bidder. Know your market and be honest about the grade of building you have. Is the property an “A”, “B”, “C” or a “D” building?

The goal is not only to be competitive regardless of the property grade, but to beat the competition as well.

Use the best material appropriate for the grade of building. Strive to make a C-minus into a C-plus, a B-minus into a B-plus and so on. Use dependable, quality contractors and suppliers. A call back to repair sub-standard work typically costs twice as much as the cost of quality work done right the first time. Sub-standard work also leads to unhappy residents and vacancies, both of which will affect the bottom line negatively.

Good quality work standards coupled with quality materials appropriate for the property will lead to higher quality residents, improved income and a sustainable business model regardless of the grade of building you own or manage.

Choosing a quality contractor is like choosing a doctor. If you went to the doctor, you would ask his advice on how to treat whatever ails you and confer with him on the best approach to achieve improved health. You would be wise to learn from the doctor’s years of experience.

Choosing the right contractor is just as important to your financial health. A professional contractor will temper you if needed, make recommendations and not be afraid to tell you “there is a better way”. The best contractor is like an experienced partner with your best interests in mind.

In order to keep a project running smooth, on time and on budget; always keep the points below in mind.

1: Proper Planning

2: Clear Objective

3: Scheduling

4: Vendor Control

5: Communication

A break down in any of the above can result in lost time and money. Improper scheduling or control can cause delays or extra work that can affect the total cost.

Shared by Buffalo Maintenance

Many apartment communities have a limited variety of apartment styles.   If the occupancy wizard has smiled their way, they may have limited availability in various apartment styles.  Nonetheless almost every leasing call is offered the same initial inquiry:

“What type of apartment are you looking for?”

The door is opened, the prospect ventures into the unknown, only to have the door slammed in their face.

• We don’t have any three bedroom apartments.
• We don’t supply washing machines and dryers in our apartment homes.
• We don’t have any one bedrooms available..
• We don’t have any covered parking.

The list goes on, and the leasing call has become negative and defensive before a chance for a relationship has an opportunity to develop.

Beginning a call with a cheerful attractive description of the property, and the invitation to tour the property at the prospects earliest convenience would be a more appropriate opening to the call:

“I’m so glad you called for some information about our apartment community.  Let me get some information about you and the needs for your home, so I can assist you in making the important decision.”

From this point, the time frame for moving, number of occupants, pets, lease terms can all be discussed; with a closing that the property has a perfect home for them, and when can a tour be scheduled?

A property with limited availability in  one bedroom apartment floor plans has a strategic plan to overcome this.  Pricing, marketing the style as a one bedroom with study, emphasizing the potential value of the second bedroom for guests, work out equipment or a home office.  But if the leasing call is opened with a “We don’t have any of those, or we don’t have any of those available,” there’s no opportunity to show the prospect how the available apartment can meet their needs.

The initial few minutes of a leasing call sets the tone for the conversation.  The potential distraction of incoming calls, emails and text messages put even more emphasis on the quality of information shared when the prospect is offering the peak of their attention.  As observed in most casual conversations, the attention span once estimated to 20 minutes has dwindled to less than 5 minutes.  The opening of a leasing call will quickly determine the potential of the call growing to a visit.

Unlearning the response, “What size apartment are you looking for?” will be an uncomfortable process.   It creates a true focus on the leasing conversation.  Not unlike, learning to avoid the “How are you?” question, when time or interest is not going to support listening to the response.

Preparing for a leasing call, being mindful and focused on the conversation taking place can show the prospect the amount of interest and attention dedicated to them.  Important items that will weigh heavily when making the decision to visit a property.

• Keep the leasing call positive!
•  Avoid creating a “Our property doesn’t offer that, but…” introduction for the leasing call.
•  Control the conversation.
•  Sell the Apartment Features.

The potential for  converting the call to a sale is just a step away.

Lori Hammond | Company Website | LinkedIn Connect | Lori has 30+ years’ experience in the Property Management Industry, working with both market rate and affordable housing.  Lori has been privileged to work with some tremendous industry leaders during employment tenures with Oxford Management, NHP Management, AIMCO, Alliance Residential, Boston Capital, The Sterling Group, P.K. Housing and currently Management Resources Development.