Topic: What are some ways team member can make money for the property owner?

What are some ways that different team members can save or make money for a property owner?

They should have a manager that controls what they spend. Team members can assist the manager by being the best leasing agent possible to cut down on locator fees. The manager can look at current property expenses and get bids from other vendors to cut cost. Management can dive into the property and ensure that the property is being well maintained an maintained in a way to increase rents. Lastly are you charging enough for your product on renewal. Remember that when resident retention is high sometimes that is an indicator that you are not renewing units at the highest potential rate.

Repair....don't replace unless real necessary. Preventive maintenance regularly.

Do everything in house!!!!

Rent reporting! It is not only a stream of ancillary income for your owners, but it is a fantastic benefit for your renters! Rent reporting through CoreLogic Payments is a program where your renters have an option to report their monthly payments to all 3 credit bureaus. Your renters pay a monthly service fee and the fee is shared between CoreLogic and the owner/management company. The renter now gets a monthly update once the payment has processed and has the ability to see how reporting their rent increases their credit score! The average renters score increases about 36 points in the first few months! It is a benefit for all parties involved!

Some team members should just quit. That’d be a good start.

One time Admin fees at lease sign/move in. Although I feel like this is very common already.

If you have the ability to offer additional storage you can charge for that

Be great salespeople...lease more apartments and retain more residents

Leasing - vacancy loss and collections.
APM - renewal increases, retention, and collections
Maintenance- repair rather than replace, Preventive Maintenance, and 24 hour work order service for resident retention.

Maintenance is also involved in leasing. Say hello to any prospects, listen to residents. Remember, after they move in aintenance probably sees and talks to residents more than anyone in the office. I always tell my people we are the face of the company. You wold be surprised how much difference just being friendly makes.

be honest

Listen to everyone. You might be surprised how a fresh idea or different way of looking at something can make a difference. I’ve had grounds people come up with awesome leasing ideas that ncreased traffic and referrals.

What about an assistant other than just collecting the rent?

Lenora Carpenter making sure charges for parking, etc are posted and collected. These things add up

Charge $10 to have a team member leave package inside the resident’s front door. Also helps reduce the number of resident packages left in the leasing office.

Valet Living Doorstep amenity.

Check out Lease Lock - they offer lease insurance. The solution saves money by both eliminating the admin costs associated with managing security deposits and reduces bad debt when a resident either skips, is evicted or if their turn costs exceed the security deposit. It saves the resident money at move-in which can drive traffic and greater lease conversion as well.

Occupancy. Reduce vacancy $$$ loss by better and quicker turns and strong leasing and marketing. You give the best customer experience in town, you don't even need to compete on the rest. Struggling C property? Soap and water is cheap. Have the best curb appeal with the very best customer experience.

Empower and teach your team to make smart business decisions. Allow them to grow in their knowledge of the industry. Be organized and prepared in every aspect of operations. Think about creating long term stability which will foster revenue growth instead of short sighted gains.

Unit based amenities! Big time income booster.

Turn off the dang AC's and lights in vacants. Total waste of money.

I don't know about individual team members per se, but offering individualized amenities can be a huge income generator. Email me This email address is being protected from spambots. You need JavaScript enabled to view it.

Michelle email me I would like to talk to you more about what you are doing for this.

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The maintenance team should always document Resident caused damages and all pets in unit on completed work orders. A weekly review and chargebacks consistently should be performed. Team members should uphold the owner’s right not to pay expenses that aren’t his responsibility to pay. Also upholding rightful late fees and enforcement of such increases NOI.

Too many employees are willing to waive fees to avoid conflict. Our jobs in the industry simply entail signing and enforcing leases and contracts and holding people accountable, politely of course.
All that “waiving” is at the owner’s ultimate expense.