Reduce Vacancy Loss: Step Up Your Move-in dates

You have 24  Notice to vacates for the month ending. How do you rent the apartments quickly and get the new resident to move in as soon as possible?

I was faced with this situation  several years ago when I had just begun as the new Manager of a community and knew that something must be done to get occupancy back up to the level that the community had enjoyed in the past. We all hate to see Ready Apartments sit, so I created a graduated rent level depending on the date the New Resident would move in.

For example: Apt. A is ready for move in on April 10, if moved-in by the first week it would rent for $470.  If moved in by the second week it would rent for $480.

IT WORKED! Our leasing team created the move in date instead of asking: When do you want to move in? We even had new residents paying for their apartment before their actual move-in date so they could lock in the  rental rate for the term of their lease.

It was a success! ! ! ! ! It took just a few months and the occupancy rate went up-up-up!

Give it a try and let me know if it works for your community!

Contributed by: Patricia A. Baker

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