Prospective renters that come to your multifamily property always have that set of requirements they make their decision on. Which properties they actually choose to tour depend on your online presence of the property (Yelp, photos, Google Maps) and most importantly, that call they make to a leasing agent. There’s always a chance, regardless of the quality of a property, that they may see something that worries them, whether it be a bad yelp review, not being budget friendly or weariness about the location of the property.
Put your renters’ minds at ease by reminding them of the 3 S’s that stand out at your property:
Safety
A frequent question prospective renters have on the phone is whether or not the property is safe. If the renter is new to town and unfamiliar with the neighborhoods, they could make the mistake of getting fooled by the website without knowing community issues.
You’re not in the business of fooling. No matter where your property is located, always make sure to take the time to explore every avenue of your property that could be a safety risk. Important safety features that many updated properties feature include gated parking with remote access and key fob access to buildings, pools and gyms.
But it’s what your property is doing that no one else does that sets you apart, and makes the renter choose you. Offer them a number of an on-call security guard that can walk them to their car if they feel unsafe at night. Another option is to extend office phone hours, allowing a special line for residents to call in case of emergency and always get ahold of an agent.
Savings
It’s summer, so housing prices are surging as it marks the biggest time for people to relocate. Rent is not often negotiated at popular multifamily properties, and it’s the number one reason they lose renters on that first call. Mention some things that will help them save money in the long run, and you’ll have them wanting to come in to learn more.
Let’s start with apartment amenities. LEED certified buildings could save renters up to 50% on monthly utilities with energy efficient lighting, windows, air ducts and appliances are all energy efficient. Go a step above these installations by giving renters a tip list on how to get the most of their energy efficient property, including turning up the air to 80 degrees while at work and unplugging appliances when they aren’t in use.
Every multifamily property offers a special promotion that helps them stand out above their competitors. Many places have started including flat screen TVs for the first year that they can keep it if they renew their lease after that. This promotion does two things: 1) They don’t have to spare that extra expense once they move in 2) They get to keep it and continue saving after the year is up. Win-win, right?
Service
Good service happens when requests are answered. Whether that’s a maintenance request or a request for a new elliptical in the gym, you should always be quick to answer them. But same goes for those prospective renters. If they say, “I would love to live here, but I’m not comfortable with the limited parking available” then accommodate them. Tell them you will give them a free reserved parking spot for the first 6 months of the lease. If they choose you, that pretty much guarantees they will still want it after those 6 months, making it good for business and safety.
Maintenance requests placed by current residents should be answered in a timely manner to make your property look and feel better to prospective renters. These requests should always be answered or fixed within 48 hours, especially if they are requests involving common areas of the property.
Keep detailed notes of every call from a prospective renter so you know what details to touch on when they arrive. Did they mention in side conversation that they were training for a half marathon? Then your first stop is the gym. Prioritize their needs.
The three S’s are always on your prospective renters’ minds, but it’s up to you to be diligent about addressing and implementing them.