These days, employment can be hard to come by for some—renters and properties, alike. Employee turnover in the outside workforce affects the ability for property owners to lease their apartments, and at the same time, employee turnover within the leasing office itself affects the ability to lease apartments, as well.

Unemployment in the United States is at a record high, with 9.7% of the workforce without jobs. Unfortunately, leasing an apartment often requires proof of employment (generally the most recent two pay stubs) as well as a credit check. Without these, many people find themselves unable to lease. Unfortunately, if you have to nowhere to hang your hat, it’s often very difficult to find a job—thus a vicious cycle ensues.

Leasing offices are not immune to high employee turnover. The multi-family industry is often stressful and comes with its own set of unique responsibilities that can be difficult to adhere to for many. Unfortunately, a high employee turnover rate can hurt the image of the particular property which in turn affects leasing. Potential renters are often put off by the inability to recognize those they trust with their money and their homes. The leasing industry is often very personalized, with most property managers and leasing associates knowing many, if not all, of their tenants individually.

Proper training and effective communication strategies are key elements in retaining employees and decreasing turnover (and thus, gaining occupancy)! The lack of these two approaches is what often forces employees out of their jobs due to dissatisfaction. Learning to effectively implement an open door communication policy as well as proper and thorough job instruction reduces the likelihood of employees leaving their jobs. Employee retention shows your tenants how satisfied they are with their jobs and sheds a fantastic light on the property as a whole…Learn more about preventing employee turnover…

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This entry was posted on Friday, August 21st, 2009 at 12:58 am and is filed under Tenant Acquisition. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.