UPGRADE YOUR RESIDENTS

Contributed by Ronnie Marshall, Tarragon Management

You can order magnets. Laminated cards – small magnets that go on your residents fridge at move-in. Laminated pages of the promotion in the office to use during the leasing process. This idea does not work if your staff doesn’t pump it up at move-ins/parties/flyers.

We wanted to create a way to get our current residents to renew for longer lease terms. We took our digital multimeter and camera to Home Depot and took pictures of four upgrades that we wanted to do in our apartment homes.  Any design company can take the pictures and put them on a nice magnet that then goes on the resident’s fridge.  You sell it in your office at move in.  If the resident renews for 12-14 months they get a fan/15-18 fan+new kitchen faucet/19-21 fan+faucet+dining room light/22-24 fan+faucet+light+crown molding in living room.

 

Fan $129 Faucet $139 Light $149 & crown molding $171.  The cost for all for upgrades $588

Results: This is a brand new apartment community we just started this idea. Here is some food for thought. We also use this same program for resident referrals. 1 resident 1 upgrade/ 2 referrals equals the next upgrade.  $588 is not a big investment for a 24-month lease.

 

This program keeps your apartment homes looking new and modern on the inside.  If the resident ever does move out you have a nice upgraded apartment that will lease quick.

It also allows you to save the old fans/faucets/lights you take down to replace others that may break (lower expenses).

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