Did you know it costs $3,976 to replace one of your residents when they don’t renew their lease? Zego found the average turnover costs to include: Lost rents: $1,598 Unit repair costs: $775 Concessions: $1,240 Marketing and advertising: $364 As a multifamily professional, you know that... Continue Reading
For this issue we will step away from the traditional apartment communities that we normally feature to address some non-traditional trends that are breaking the mold in the rental market. We will focus on three properties that represent the most popular development types, including the... Continue Reading
Since the toughest economic times of the past 100 years was during the Great Depression of the 1930s, and because experts have drawn many similarities between the conditions that led to the Great Depression of 1930s and current times, my curiosity compelled me to do some research about that period... Continue Reading
With over 25 years of selling into multifamily I have found that there are four areas of focus that will help sellers be most successful. Many suppliers will already know these and use them every day. Some Suppliers will discover these through this article. Some Suppliers will be reminded and... Continue Reading
A strong onsite leasing team is the bread and butter of asuccessful apartment community. Your property can have a fantastic marketing game and the best amenities around, but if your leasing associates aren’t practicing the best habits, your property is going to struggle.So just what are... Continue Reading
9 Ways Suppliers Can Stay Relevant During the Pandemic For nearly a year, we have been living in an age where from one day to the next we are often unsure of what to expect. We are so used to the day to day routines of our lives and when they are dramatically disrupted, we must develop coping... Continue Reading
Something I really want to talk about today is a problem I see most people dealing with and that’s comparing yourself to others. You know, I meet with a lot of people day in, day out, clients, peers, mentors even. A constant theme is always looking around and comparing yourself to either... Continue Reading
Mentorship is something that I think needs to be better explained. A mentor is anybody that you usually have a relationship with who has seen success or is a little further on in their career or life than you are. They’re somebody that you want to get that wisdom from so that you can apply... Continue Reading
Sitting outside of a property right now. Been out cold calling and anybody that does this sort of work knows what it's like when you get shut down a lot. You have that day kind of, call it a “No” day. Right? You get nowhere. You’re not talking to anybody. Nobody's giving you the... Continue Reading
Let's discuss organic growth or word of mouth marketing. It is the cheapest, sometimes the easiest, sometimes the hardest way to market your business and I would personally say the most impactful. You will develop a reputation in any industry that you’re working in. Whenever you have a good... Continue Reading
One of the biggest issues that I tend to see with a lot of sales reps is a lack of follow up and even follow through if you want to call it that. We’ll get out, we’ll meet the customer, we’ll make a relationship, we’ll find out what they need, we’ll put a bid... Continue Reading
Have you ever walked into an office or worked in an environment with somebody who is just an absolute pessimist? They are negative about everything. Any input they give is why something won't work or why something is a bad idea. But, they never come up with a reason why something could work. Now... Continue Reading
