GET RID OF ALL YOUR LEASING PROFESSIONALS By Doug Chasick
Theme: Get Rid of All of Your Leasing Professionals!
Implementation: It’s about human nature – if you hire someone to fill a position called “Leasing Professional” (or Leasing Agent, Leasing Consultant, Leasing Whatever), what do you think your new employee is going to do? Lease apartments, right? Of course – especially if they are paid a leasing commission for each lease that is written! A lease = commission = MONEY!!
So, what happens when a RESIDENT walks into the office? No Lease = No Commission = NO MONEY! (Yes, I know you pay them a salary for doing all that other stuff, and my experience is that they don’t focus on that – they focus on WRITING LEASES!)
STEP ONE: Get rid of the job title/position called “Leasing ___________” and start hiring “Customer Service Representatives” . Do you have a “Leasing Manager”? Great – now they are the “Customer Service Manager”.
STEP TWO: Get rid of leasing commissions – raise your base salary by the amount that they would have made in a good month in commissions, and get them focused on ANYONE who walks into the office, not just the non-residents! (And what’s the deal with these leasing commissions – you hire someone to lease, pay them a salary, and then give them a bonus when they do what you hired them to do? I guess you also hire maintenance employees, pay them a salary, and pay them a bonus every time they complete a service request, right? Of course not! Implement an incentive/bonus plan that rewards EVERYONE equally and watch your NOI grow!)
Results: Try it – it WORKS!