I couldn't agree more. I would also suggest that your review your telephone technique and property presentation and update your message. I recently toured a property and they spent the entire time discussing the value and savings that their community offered. They were focusing on what matters right now to most prospects - getting the most for their money!

Totally on board with your comments Lisa! Identifying the market, your perfect resident, and marketing to that will make a big difference. People want to live with other people in a community that speaks to their interests. When people buy houses, they cruise the neighborhood to look at the neighbors, their houses, the activities, etc. Do the same for apartment communities. Amenities need to focus on lifestyles of the perception you wish to create for your residents and each particular community.

Obama's stimulus package is all we hear about on the news. We identified the pain point that both you and Brent mentioned and addressed it by creating an Economic Stimulus Package for our residents, both new and existing. New residents receive ½ off their apartment deposit which allows them to use the extra cash towards their moving expenses. Existing residents get ½ of their apartment deposit refunded to them when they renew their lease. This allows them to get their unused money back to spend it how they like! As we all know this is not a new idea that most communities haven’t already used….but the spin on it is. The residents and prospects feel like they are getting something back and that we can relate to them during the hard economic times...and its cheaper than 1 month free rent!

I totally agree! I just re-listed our property on Craiglist and our tag line is "the right place at the right price" It is all about value and service!

What a good post and such great comments too!

I think adding the amenities are a very nice touch and makes tenants feel like you care. Also checking in with them after they have moved in is another nice touch.

Has anyone ever offered a reverse lease? Risk of commitment is often the consumer’s obstacle. Normally you sign a long term commitment and go month to month for a higher rate if you don’t renew. If I can’t commit to a year, but want to rent, why not pay a little more and have the freedom of month to month. Once I live on your property, it is much easier to negotiate a real lease rather than to sell me off the street.