How to Stand Out from the Competition
Digested from AppFolio
Competition is fierce to land high-quality residents. Find out how to put to land renters in this environment.
Between new luxury apartments and single-family homes, there is a lot of competition for today’s renter-by-choice. But there are things property managers can do to stand out.
“First, emphasize flexibility, which is something residents won’t experience if they buy a home,” Elizabeth Millar writes for AppFolio. “The value of having an ironclad lease protocol that helps you manage the revenue stream is vital. Part of that plan may include special buy-out options for tenants who experience a significant life event, such as a birth, death, job transfer or medical development that requires an early termination. These sudden departures may give a long-term renter a chance to upsize or downsize within the community.”
Today’s resident also wants convenience and wants to communicate after regular business hours.
“Remember, while most people enjoy being able to report a maintenance or security problem online, others prefer to speak to a person,” Millar writes. “You can meet these expectations by adding after-hours customer care teams trained to triage calls and dispatch technicians when appropriate.”