Resident Renewal Management Program

Resident Renewal Management Program
Theme: Resident Renewal Management Program
Visuals: Renewal Expiration Management board that is kept in a visual place for leasing staff. It shows the goal number and actual for all months. It should be colorful and bright.
Implementation: Many of us know how important it is to not have the lease expirations concentrated in any one month. I have implemented this program and found it to be very successful. Evaluate your market by month. Scatter the percentage of expirations you would like per month based on the market. Get the goal number by multiplying the percentage and total units. Every time a lease or renewal lease is signed mark the expiration down on the goal board. Once the any given month’s expirations are full, no more leases may expire in that month. I also suggest scattering the expirations throughout the month. This way you do not have all move outs on the last day of the month. Then you experience more vacancy loss because your team cannot possibly get them all ready in one week. If they are scattered then your team will be able to manage their time better.
Cost: $80
Results: Increased occupancy and a more efficiently run property and team!
Kristen Kurth Greystar

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