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How to Rent Apartments without Selling the Specials

Proven methods of increasing occupancy without selling specials.

Being Honest with Prospects vs. Being Dishonest: Which Way is More Profitable?

Being Honest with Prospects vs. Being Dishonest: Which Way is More Profitable?

In all circumstances, a lie is a sign of fear. People tell lies when they fear that the outcome of honesty won’t be in their favor. When it comes to leasing apartments, the fear is that the prospect will pass on your offer, causing you to miss out on the value they would’ve brought to the property and to you. 

It’s vital to recognize that the short-term benefits of dishonesty cannot compare to the long-term benefits of being transparent. A resident that you convinced to move in by lying will quickly become disillusioned and will either seek to break their lease as soon as they can, or refuse to renew their lease once it expires.

Dishonesty Can Cost You More Than You Might Think

As anyone who has extensive experience in the business of property management and leasing apartments knows all too well, it costs much more to have a high resident turnover rate than it is to maintain resident loyalty. The turnover expenses come in the form of advertising fees, apartment cleanup, additional time spent searching for and screening new prospects, and much more. 

Depending on the size of the property and the turnover rate, such expenses can easily add up to several thousands of dollars a year. All of that money is money that uncompromising honesty can help you save. 

But the financial burden of dishonesty in apartment leasing doesn’t stop with the cost of bring in new residents. It’s important not to forget that the resident who moved out because of your lie is now a dissatisfied, perhaps even disgruntled, customer who is ready to give a negative review about you and your property to anyone who asks or is willing to listen, both online and offline.  

This hit to your reputation makes it increasingly difficult for you to find new leasing prospects, and it also makes that practice of lying increasingly less effective. Chances will increase that any new prospect that does come in will have heard of your reputation as a liar and put their guard up with you.

 

 

Avoid all of the unnecessary problem and choose honesty. 

Honesty will never fail you!

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