Leasing Tips and Strategies for Multifamily Apartments
How to Lease Your Multifamily Properties and Apartments
Leasing and managing an apartment community takes lots of people-power and strategy to successfully keep occupancy levels up with a smooth operation. In a consumer facing occupation, balancing digital and in-person interactions is critical in top-notch customer service from the introduction of a new lead to the signing of a lease, and beyond. The most important thing to remember is you are in the business of finding and managing a place where people live. Honesty, transparency and good communication go a long way.
Understanding multifamily leasing
When breaking down the different parts of multifamily leasing, we can separate interactions with residents and potential residents into two sections: online and in-person.
Online interactions are most of the time the first interaction a potential resident has when an apartment property. Through the community website, potential residents need to see your best amenities and prettiest corners within the first few clicks online (foreshadowing for later). When that potential residents decides to contact your community, that’s where the leasing agent steps in and the leasing funnel begins. The leasing funnel consists of the introduction of a lead, the nurturing that lead until it is a signed lease. This is also known as awareness, consideration, and conversion. Yes, this is a basic level of breaking down a sometimes weeks long process. Feel free to check out this article that explains the multifamily marketing funnel more depth.
The second kind of interaction leasing agents experience is in-person interactions. Once potential residents commit to scheduling a tour, the next steps are seeing those beautiful amenities with their own eyes. Big pools, fitness center, updated kitchens–this is your chance to up sale the car salespeople across the street with their BRAND NEW CARS!
Leasing agents also have the responsibility of assisting and current residents by curating a safe, positive environment within their community. A current resident who is nearing the end of their lease is just as important as a lead to a new lease. Creating those safe, positive environments can help ensure the extension of a current resident for a long time.
Managing multifamily apartments
Managing multifamily apartments falls into some of the same boats that we spoke about above between online and in-person leasing. A leasing agents job can be split between multiple disciplines such as marketing, sales and, customer service. Mastering all three disciplines and creating a operation processes as a team creates well-oiled machines that draw in potential residents and keep current residents around.
Multifamily leasing tips for agents to keep in mind
Multifamily leasing can feel like an overwhelming job at first with cross-over job disciplines, and digital and in-person customer communication. But there are several tips and tricks that assist leasing agents and can automate some processes.
-Digital leasing agent
Digital leasing agents work on an around-the-clock, 24/7 schedule. They also are tools to front repetitive questions and give a first look around an apartment community for users to view. The main point is digital leasing agents offer supplementary help to human leasing agents to round out the operation.
-Create a relationship with renters
Creating a trustworthy and authentic relationship with renters delivers that personal level of homey customer service renters look for in an apartment community. It bridges the gap between a business and a home and will keep current renters in your same community year over year.
-Showcase your best apartment features first
Oftentimes, your apartment website is the first experience all potential renters will have with your community. Showcasing the best amenities and beautiful views will create a better first impression.