| |
|
Featured Article
Keep Your Eye On The Ball
by Anne Sadovsky
As
the manager drove me to the property, I
questioned her about things like competition
and office hours. When I asked about weekend
traffic, she glared at me and said "Don't
mention weekends to my boss. We don't work
weekends and we're not going to." Here I was
consulting with the owner about a 25%
vacancy factor, and they were closed on the
weekends! Why? They were closed on weekends
at 100% occupancy and didn't reposition when
the market changed.
There's a great story in baseball about a
player running out in the field to catch a
fly ball. Just then his cap blew off, he
leaned down to retrieve it and missed the
ball.
Stop
today and brainstorm, look at the way things
are being done (or not being done) and take
action to properly position yourself in
today's challenging market. Start with the
following ten areas:
1.
Check the community policies for revision.
For example, if your policy is "no pets"
consider choosing a few buildings for
residents with pets. Have good written
policies, pet leases with photos of the
animal and strong pet deposits. As our
society continues to mature, many of us have
furry, feathered or finned companions and
are willing to pay extra to have them share
our home. While reviewing policies ask
yourself "could this policy be costing us
leases? If so, should we consider a change?"
2.
Stop the bleeding. Focus on resident
retention by remembering that a bird in the
hand is worth two in the bush. Today's
resident expects service, fair treatment,
good communication and to be rewarded at
renewal time. If you treat the resident like
they're stuck with you, they will be sure to
prove you wrong.
3.
Get off the "giveaway" track! We have
conditioned prospective renters to walk in
or telephone and ask "What's your special?"
If your special isn't bigger and better than
the one across the street, you lose. And if
you make sure your special is the biggest
one in town, you still lose because you
probably can't make the mortgage payment.
4.
Shop your people regularly. Relationship
selling is the strategy of the 90’s. Do you
really know how your staff is treating your
customers? In a market where every lease
counts, shopping should be a standard
practice, it should also be a positive
learning experience for your team.
5.
Drive your property through a prospective
renter’s eyes during the day and again at
night. Is it well lit, can you see the
signs, how’s the curb appeal? Do you have
guest parking, balloons, banners, flags,
flowers and signs? If they can’t find you,
they can’t lease an apartment!
6.
Fair Housing "ain't gonna go away!" Be
absolutely positive that you and your staff
aren't going to get you sued. Know the laws,
be sure personal prejudices aren't coming to
the office, and best advice, treat everyone
exactly the same way!
Anne Sadovsky, CSP, CAM,
CAPS, RAM, has been in this industry
since 1968. She is a member of the National
Speakers Association and has earned the
prestigious designation of Certified
Speaking Professional. Based in Dallas,
Texas, she was named one of the top trainers
in the industry by Multi Housing News. Her
success story has been featured in Money
Magazine, Ladies Home Journal and Texas
Business. Anne Sadovsky is the owner of a
Dallas based marketing, consulting and
seminar firm – where she and her associates
provide training, keynotes and counsel to a
variety of industries, businesses and
associations. She is the former Vice
President of Marketing and Education of
Lincoln Property Company. Her expertise in
multifamily housing makes her a sought after
consultant and trainer. As a consultant,
Anne has saved and made her clients millions
of dollars. To contact Anne by phone: 866
905-9300 or e-mail: anne@annesadovsky.com or
visit her website at
www.annesadovsky.com. |