Topic: I need some wisdom - I am starting a leasing position at a old and VERY distressed property

Hey! I need some wisdom from my fellow wonderful peers!

I am starting a leasing position at a old and VERY distressed property… it’s affordable housing, and outdated. It was mismanaged for a while, and a new management company took over 3 months ago.

There’s 200+ open work orders(410 units), disgruntled residents, little new leases, and only a pool and gym for “amenities”.

Apparently there’s little funds available for marketing, increased curb appeal, or rent specials.
What are some tips/ideas you have to help turn the property around? My PM asked me to come up with a few, and I’m kinda stuck. Any advice or resources would be greatly appreciated!!

I've been exactly there, and unfortunately I don't think there is any quick fix. I think the best thing you can do is to be in the same page as a team and start working together to build trust with and fix things for the current residents, and when you start to build that and get positive feedback, really encourage them to post reviews so that the incoming prospects are starting to see that, while the community has had its issues, there is a great team in place that really cares about making things better. And it takes patience, but if you're consistent and sincere with that, you will start to see results.

Maybe send out a survey to the residents and see if any of them would be willing to donate some time to help take care of anything. Like maybe you have some people with landscaping backgrounds that could help clean landscaping up. Maybe some other residents could start a garden somewhere on the property to add an amenity and maybe u have some certified people who can help clean the pool/spruce up gym. Bring the community together!

You can offer them incentives like waving late fees or carpet cleaning or whatever your budget can allow.

I have turned many properties in my career. I can tell you this. LISTEN. LISTEN. AND LISTEN. The vast majority of your problems wont go away but just because you listened you gain instant respect, not from all, but from many. Take note of their concerns and prioritize them. Make no promises but ask for patience to address the problems that have previously been ignored. And lastly, underpromise, over deliver. Chip away at the problems one day at a time. The property did not become distressed overnight and you wont fix it overnight. Final thought, dont kill yourself fixing it, your mental health matters more than any job ,dont be a hero!!!

First start by making your current residents happy… or as happy as you can get them. When funds are low for marketing word of mouth is your best tool.. but you have to have happy residents.

Trade flyers with local pizza places, restaurants, other businesses.. they give out yours and you give theirs to your tenants.

One of the best thing you can do Is get the work orders done.

Mulch is your friend for landscaping. Cheap and makes everything look amazing.

Partner up with as many vendors you can and restaurants in the area. They can help create/host resident events. I did it when I worked on-site and I do it now for my partner properties.

Great advice here. Let your residents know that you appreciate them and are there to help and then use your team to help make things the best that you can. Try to keep a positive vibe in the office and on the grounds

Trust me, those are the best properties to start! You get a full picture of what the industry is like and if you come out stronger, you were made for this!

When you say old, how old? I work a property that is 50 years old, and keep it at 95% occupied. Baby your long term residents, they are your base!! Then get those work orders done first. Resident retention is everything on an old property. Be honest, be as helpful as possible. I do very little marketing. And when I do, it's just candy and fliers. As someone else suggested, get to know your neighborhood businesses. The great thing about old properties is square footage and closet space. No bells and whistles, but space is always a great marketing tool.

Get on the maintenance team, if you have that many WO outstanding there are problems there. If you have a quality maintenance team those WO will dwindle quickly and then you can start on the curb appeal and amenities. Save where you can and spend what you have too. Keep to the budget at all costs. Find incentives for your staff to perform above and beyond. Have a contest with the maintenance team to see who can clear the most WO in a day or week and give them a prize of some sort. If you can't keep up on upkeep then even the best Leasing Agents wont get new residents in the door. Maintenance makes or breaks any property, plain and simple.

Are these rentals or owners? Curb appeal can be cheaper than you think. Each morning team starts out with trash pick up. Clean up trash around park first hour of day. Pull weeds, trim bushes, if there is grass in place mow it every Friday whether it needs it or not. If you clean up public areas tenants will start cleaning up their yards. Signs need painting if there is no money for paint wash sign. Lighting is another curb appeal. Check with local sheriff department see if they have crime free program in place. If they do join it . yard. Read a lot of previous comments and agree with those as well. Build your team up with praise for good job and 1 a month buy them pizza lunch, breakfast brunch when having meetings. Good luck and keep us posted

Be visible, listen with a sincere smile, build trust by delivering service, being helpful

I go to surrounding places with mini bags of popcorn with a ribbon and a card attached that says pop on in for your new home with all of the contact information . I am also on a tight budget and surprisingly it’s working. Or candy bags, something cheap just to show them you’re there and bring in interest

Take care of ur residents first. That's ur pay check, prioritize and organize!

Get the work orders done even if you must contract out maintenance services.

I have been involved in many properties like this. Look through all those open work orders and find your most urgent. Major water issues, pests (bed bugs, cockroaches) and essential appliances (refrigerator/stove) first. Call to confirm they are still issues and as you address those take care of ever thing else in that unit you can reasonably handle. 200 is going to turn into 400 once you start calling people. When it comes to curb appeal tackle the labor only items. Broken/damaged signs, safety hazards, trash, dead plants, over growth, etc. Invite residents to help with plants and trash if you have areas they can help. Pride in their community goes a long way on improving things. Then start tackling one household at a time. Take care of your non payers first, move to your problem children/hoarders, cleaning up the residents issues will make dramatic improvements in the overall care of your property. The good residents will appreciate it and you will attract new. It takes about 18-24 months to make dramatic improvements at distressed properties. Give yourselves the grace to know it is a process. I also invite residents to a small event like a coffee hour or popsicle at the pool to meet the new staff.

Clean goes a long way, as Tiffany stated tackle the work orders methodically what will cause a violation with the housing authority but also keep in mind after priority issues such as water leaks & hvac make sure you then go by age or someone will cry foul (discrimination/fair housing) as long as you can at least print some simple B&W flyers you can do some marketing touting new management and team. As you prove yourselves to the community ask for referrals. Also ask the housing authority normally they have waiting lists make sure you let them know you have availability (we use to send updates 2x month)

I would start with the team. make sure everybody is on board to make a change. Second thing I would do is clean, soap and water go along way. I would treat the residents with respect and listen to their concerns and I wouldn’t promise anything but work with them to get things in a better place. Then I would prioritize changes that want to be made and resources to accomplish that.

Remember you are an amenity as well. Give customer service, use compassion and make it right with whom you have now, I.e. if it’s a filter that needs to be changed and you can do it, do it.

Let your Residents know you and the staff are going to do the best they can, and would appreciate them working with you. Contact your vendors for gift cards or any items to use at an event.

Fix everything. Start outside with dangerous liabilities (broken stairs and railings, trip hazards, lack of lighting, etc). If owners won’t pay for it, they’re not serious about maintaining the property and you’d be smart to consider a new job. We specialize in “value” properties and our experience over 30 years is that residents start working with you to build a community as soon as they see broken things getting fixed. It’s a rough process—I wish you the best.

Figure out a way to talk live, not email, with each primary lease resident and tell them you are there to make things better. Can't fix everything at once.

Sit with Maintenance and prioritize by age and urgency. Let residents know expected fix weeks 1, 2, or 3.

Anything not able to fix in 2-3 weeks, outsource it. Discuss with owners cost of delays (churn turns) vs cost of outsourced services.

Be kind and be honest with what you can and cannot provide. A store bought cookie goes along way if you cannot provide anything else

Start a community Facebook group for neighbors so they can maybe help plan inexpensive and meaningful community activities, like a neighborhood watch, breakfast with the first responders, book club. Maybe get a local church to sponsor a kids club and get local businesses to donate to the events.

Make your residents your number 1 priority, listen to them show them that you care and are there to serve them... TLC goes a long way! Be honest with them let them know you are there for them and your on their side.. be genuine remember this is their home!! Market on FB on Instagram, join the local Chamber of Commerce if you can, but most of all learn your competitors...visit with your community make your flyers take them out meet the people and build the relationships.. word of mouth is one of the best sellers..

Walk your property. This allows the residents to "see" your interest. Go on maintenance calls. Look at the apartments to determine the actual shape their in. This might also reveal which maintenance team member is not giving their best effort. Get the grounds cleaned up. If the residents believe you they will give you some slack in your efforts to improve their lives.