Apartments.com provides the top five reasons previous homeowners are choosing to rent in 2013, and compares these results to its 2012 survey. The statistics indicate that within the past year, economic struggles may have been a more significant factor in previous homeowners’ renting decisions than in prior years: Renting is a more affordable option: 22.2% […]
Wouldn’t it be nice if we didn’t have to worry about lease expiration’s? If every resident simply moved in and stayed….and stayed…and stayed? Ah, but this is the real world-and in the real world, leases expire and residents move out. Even the best resident retention plan won’t eliminate turnover. Because lease expiration’s are a fact […]
Description of Property and Problem: Class B property, 520 units of moderate age and condition located off two major highways with one-, two-, and three-bedroom apartment homes. The leasing staff exhibits poor closing ratios on both new leases and renewal leases. Goals: To achieve 97 percent leased and 94 percent occupied (in this case, 98 […]
Here’s one from Kathy Cloutier, the Manager of Tantara Apartments, a Menomonie Properties community. Kathy writes: “We allow local restaurants and other merchants advertise in our newsletter; and in exchange, they provide certificates for dinners which I pass out to long term residents on their birthdays and gift certificates for our weekly bingo. Our Bingo […]
This tip came to us courtesy of Terry McDurmon at Miles Properties. Terry writes: “Moving is such an incredible hassle, so why not make it easy for new residents by helping out with their move? Instead of offering rental concessions, we arrange the transfer of all utilities AND pay the new resident’s switch charges (they […]
Everyone loves a raffle! They’ve been successful for years, and can serve as a fun and easy incentive when your schedule doesn’t permit something more elaborate. What You’ll Need « Raffle tickets and container to collect them. « One grand prize, and/or a few smaller prizes How It’s Done Select the goals […]
This simple idea becomes a habit when you have a pet friendly community. Take a small Ziploc bag full of treats in your pocket when you make community inspections. Contributed by: Joyce Arroyo Category: Resident Service/Retention Idea/Theme: I keep a large container with dog biscuits in my office. I walk around the grounds and stop […]
Contributed by: Katie Woodhouse Category: Retention and Renewals Idea/Theme: I started a Texas Hold’em Tournament every other month and our residents love it! We have two-three games going at once and the final winner wins a $50 visa gift card. We provide drinks and appetizers. It is so much for our residents! Note from Tami: […]
Contributed by: Wendy Category: Retention and Renewals Idea/Theme: During months when we have larger numbers of leases expiring and possibly higher turnover, we encourage our residents to sign new leases “early” by hanging their renewal letter on one side of a brightly colored clothes hanger using curling ribbon. We then hang a card on the […]
Contributed by: Elsa Centra Asset Partners Category: Management Idea/Theme: “Candy Cane Treasure Hunt” Materials needed: Candy Canes, Labels, Vases, Ribbon, Print specials/concessions on labels and place them on the Candy Cane, insert Candy inside decorative vase. Offer prospects to participate in the treasure hunt for a special/concession. Same idea can be used for renewals. Key […]
RENEWAL INCENTIVE PERCENTAGE (WITH A TWIST) Many management companies offer an incentive to the resident for renewing in some form of discount, etc. The Gene B. Glick Company wanted to offer a similar program company-wide of the sake of consistency, but they were reluctant to use an accelerated percentage program that would deduct too much […]
Brainstorming Tweet SpotTuesday, November 17 – Friday, November 20, 2009 Click here Sponsored by Brand new at this year’s event and located in the hotel’s lobby area, the Tweet Spot will broadcast a continuous, big-screen display of the Brainstorming Twitter streams. It’s “Social Networking Central” at Brainstorming, providing a place to share thoughts, tips, ideas, […]