Five Ways to Prepare Single-Family Apartments for Leasing Season

Estimated read time 4 min read

We are quickly approaching the busy summer leasing period. It’s a good time to make sure that everything is in order before you are overwhelmed with showings, applications and move-ins or move-outs. Take a moment to assess your preparedness. It’s always a good idea to do this, but especially as the spring transitions into summer.

Here is a list of areas which deserve extra attention. It might be a good idea to have a staff meeting to ensure that everyone is ready for when the real work begins.

1. Property Appearance

You’ll want to have a team ready to go as soon as you can after a move out. They will be able to fix, clean and prepare the property as quickly as you can. This is a great time to improve landscaping, in addition to cleaning up the property. You may need additional resources.

Photos are often the difference between a constant flow of prospects or a complete lack of interest. This is a great time to check your website and marketing materials to make sure your photos are current and high quality. Update your photography and description if you’ve made any improvements or landscaping.

2. Tenant satisfaction, renewals and retention

You will have to spend less money to replace tenants if you keep more of them. Many property managers focus more on marketing than retention, despite the fact that a bird is worth two on a tree.

It’s time to send a quick email to your tenants to thank them and ask about any issues that may need to be addressed. If you do not have the time to communicate with tenants individually, send a group email. Many managers only communicate with tenants when there is a problem. Communication that is proactive and friendly can have a significant impact on tenant renewals. The fewer properties your company has to fill in the summer, the more you will benefit from it.

3. Owner Relations

Your success depends on keeping owners informed and satisfied. It’s not good enough to just manage their property efficiently and inform them only when there is a problem or question. Positive, proactive communication is important for both tenants and owners.

Do you give feedback to owners following each viewing? It keeps them informed about their cash flow in the near future and also serves as a reminder that you are working hard to help them. Owners appreciate a pre-summer report that includes all of their properties and details such as completed, planned and needed repairs, suggestions for improvements, lease terms, and more.

4. Price checks

A market analysis is also an excellent time to determine if prices of comparable properties have increased or decreased over the last year. You should make the necessary adjustments to your pricing before you start leasing heavily this summer. You can do a pricing analysis with your owner. They will appreciate that you are on top of the market and not driving away prospective tenants with too high rents.

5. Staffing and processes

It is less specific than the other items, but it is no less important. This item on the checklist involves internal processes that you use to handle prospects, inspections, make-readys, screening, accounting and marketing. There’s always room to improve. No property management firm has implemented the best practices perfectly.

To review your processes, make a list (including the ones mentioned above), and then, with your staff, go through each of them, identifying areas where you are experiencing bottlenecks, miscommunications or problems, or results that are not ideal. Too few management companies spend the time needed to identify areas for improvement. They are too busy addressing immediate issues and putting out fires. By stepping back to improve processes, you’ll save your staff time and make more money. You’ll also create a better working environment. It’s never too late to improve your processes.

We hope that these tips will help you have a successful business summer!

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