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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 becau......
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Be Honest When Leasing Apartments

Be Honest When Leasing Apartments

Most prospects in search of an apartment to rent consider honesty to be a given. They assume that those who are in the noble profession of leasing apartments have gotten where they are in life by being virtuous and responsible. Yet some property owners, managers and leasing agents think honesty is optional when trying to convert prospects into residents.

 

Lying might seem like an effective way to overcome objections and boost occupancy rates, but even one little white lie that you tell a prospect can prove devastating to your long-term goals. The lie deceives not only the person you’re telling the lie to, but it also deceives you by making it seem like you’re succeeding when you’re really just being set up for future failure. 

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Great property managers apologize

Great property managers apologize
Great property managers apologize As it is with people, so is it with businesses.Think of all the people that you most respect. You will find that these are the people who never hesitate to say, “I am sorry” or “I was wrong.” Now think of all the people you do not respect as much. These will usually be the people who are used to making excuses. And even when they apologize, they make it seem that it was somehow not their fault. People, even customers and tenants respect property managers who have the ability to apologize unconditionally. It is not an easy thing for any of us to accept that we have made a mistake, to concede that we were wrong, that because of our fault, someone was inconvenienced. It takes courage and great personal honesty. So when tenants see that someone is making the effort to apologize they feel that the person has a high sense of honor and honesty. That he or she will always put integrity over comfort, truth above profit. It shows that the manager is ready to go out of his or her comfort zone and do what is right with the tenant. It is often said that businesses and managers need to hide their mistakes and shortcomings. However, nothing could be further than the truth. Admitting one’s mistakes is actually the best thing a manager can do – it builds up an environment of trust and transparency. Over a period of time, this can build enduring bu......
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