Rise Above the Competition: Habits of Successful Property Managers
Property Managers deal with day to day issues that arise, all while increasing occupancy and keeping current residents happy. It can be a demanding job, but with the right skills, a Property Manager can be highly successful! In order to attract prospective tenants to their property and have the current ones renew their leases year after year, Property Managers should incorporate the following habits into their daily activities.
#1: Reply to Prospective Tenant Emails in Five Minutes or Less
One of the most important things to remember is that prospective tenants are never looking at just one property. Chances are, they are contacting several properties for information regarding renting. Everyone is busy, and they only have so much time to dedicate to their apartment search. By making an effort to be the first one to answer their inquiry, you have the highest chance of getting them to make an appointment to see your property. Reach out quickly, and you've given yourself the best shot at getting a signed lease!
#2: Develop Relationships With Current Residents
What better way to know if you are doing a good job than to hear it from the residents themselves? By developing strong relationships, you get instant feedback on what works and what doesn't. You can adjust your habits accordingly. This can help build referral and word of mouth business.
#3: Know Your Competition and Make Sure Your Competition Knows You
Successful and efficient Property Managers make it their business to know what is going on around them. Always keep yourself informed of how your competition is doing: know what rent specials they are offering, their marketing strategies, their occupancy rate, and what draws prospective residents to them. By knowing what is going on in the market, you can stay on top of prospective tenant expectations, and set yourself up for success. Always be focused, and join property management networks and associations. Make your name well known in the industry.
#4: Create a Lasting First Impression
Remember, you won't get a second chance to make a first impression. Keep your office and your model apartments in perfect condition to impress prospective tenants. One thing out of place can make the difference between them renting at your property or renting at the property down the street.