Archive for the ‘Apartment Management Service’ Category
Monday, August 31st, 2009
In my years in business management, I have noticed one reliable factor that we can count on. Emulating the best is a great way to become the best. This shouldn’t be much of a surprise as we see the same fact demonstrate in sports over and over again.
As apartment managers, operators, and owners this is a huge key factor. Study the best… be the best…
Keeping the books in exemplary condition…
Ensuring late paying tenants… create immediate notices… create evictions…
Management of maintenance calls…
Posted in Apartment Investing, Apartment Management Service, Apartment Management Services, Apartment Marketing, Tenant Acquisition | 5 Comments »
Sunday, August 30th, 2009
The responsibility of renting a property is critical, but simply generating traffic and having a trained sales staff will not rent units. We are operators in a commodity market. By definition, this implies that as owners and managers we have to provide some basic underlying conditions to rent.
First on the list, as operators we gain nothing by trying to sharply under price the market and if we over price the market, we will not rent. This is a delicate item because if we price too low we lose money and if we price too high we will not rent at all. Further, this means we have to be competitive on concessions as well as basic price. With all this in place, if as owners and operators, we can establish a position of greater value we will have a sustainable edge in the market.
Next, our property must be priced to compete with properties on amenities. Visits and calls are generally determined by bedrooms, bathrooms, and amenities. Pricing to fit against the competition in this area is critical.
A clean well maintained property is another basic point. Property management processes and procedures that assure this are critical to renting units. As always, customer service wins the day.
Finally, social condition will kill renting and can be a great rent enabler. If resident prospects see a clean area, late model vehicles, quiet and low key resident interactions, etc. Residents and resident prospects need to feel safe in the neighborhood. The probability begin increasing quickly that they will choose your community as their new home if safe, clean, and friendly conditions.
Blake Ratcliff – The apartment marketing guy
Posted in Apartment Investing, Apartment Management Service, Apartment Management Services, Apartment Marketing, Apartment Marketing Ideas, Apartment Marketing Support, Apartment Tenant Qualification, Find Good Tenants, Find Latino Residents, Find Renter, Find Renters, Find Tenant, Find a Tenant, Finding Good Tenants, Finding Renters, Finding Tenants, Get More Renter Traffic, Get More Renters, Getting Good Tenants, Getting Tenants, Help Rent Apartments, Help Renting Apartments, Hispanic Market, Hispanic Tenant Finding, How to Find Renters, Increase Apartment Occupancy, Increasing Apartment Occupancy, Marketing Apartment, Marketing Apartments, Multi-family Renting, Obtain More Leases, Obtain More Renters, Receive More Renter Traffic, Receive More Renters, Tenant Acquisition | 7 Comments »
Thursday, August 27th, 2009
Check out this link for hints regarding capitalization rates. Capitalization rates are considered the best measure of year’s income and the relative value of a property.
Posted in Apartment Investing, Apartment Management Service, Tenant Acquisition | 7 Comments »
Monday, August 24th, 2009
We’ve hit many times the fact that Hispanics are the fastest growing resident demographic. However, did you know that Hispanic Internet usage is growing 50% faster than the general market? Do you have a strategy for this market area?
If not, keep in mind that most Hispanic searches are in English. The fact is Hispanic marketing in fact any demographic marketing focus is a cultural item. For example are you aware that a Hispanic household is 3.5X more likely to respond to a direct mail item than a non-Hispanic Household. This is particularly important when you understand that they only receive 10% of the mail other households receive.
About 55% of Hispanics respond well to ads in Spanish. Also, Radio and television is generally the best mode of advertising based on selling results.
When you considers Hispanics are $860 billion dollar market segment, ignoring this segment is at your own risk. This will be an even greater fact as the segment is expected to grow to over $1 trillion by early in the coming decade.
Good sources for this post were:
MK Blog
The Latino Journal
Online Hispanic Trends
Posted in Apartment Investing, Apartment Management Service, Apartment Management Services, Apartment Marketing, Apartment Marketing Ideas, Apartment Marketing Support, Apartment Tenant Qualification, Find Good Tenants, Find Latino Residents, Find Renter, Find Renters, Find Tenant, Find a Tenant, Finding Good Tenants, Finding Renters, Finding Tenants, Get Good Tenants, Get More Renter Traffic, Get More Renters, Get More Tenants, Get Tenant, Get a Tenant, Getting Good Tenants, Getting Tenants, Help Rent Apartments, Help Renting Apartments, Hispanic Market, Hispanic Tenant Finding, Housing Demographics, Housing Market Facts, How to Find Renters, Increase Apartment Occupancy, Increasing Apartment Occupancy, Latino Prospects, Latino Renteres, Latino Renters, Leasing Support, Marketing Apartment, Marketing Apartments, Multi-family Renting, Obtain More Leases, Obtain More Renters, Obtain More Tenants, Online Property Management, Online Rental Application, Property Management, Property Management Service, Property Management Services, Property Management Solution, Property Management Solutions, Receive More Renter Traffic, Receive More Renters, Receive More Tenants, Tenant Acquisition, Tenant Finding, Tenant Getting, Tenant Placement Service, Tenant Placement Services, Tenant Screening, U.S. Housing | 19 Comments »
Monday, August 10th, 2009
The staff at Occupancy100 has invested a lot of energy into researching what works and what doesn’t in the world of multi-family housing marketing.
We have come to the conclusion that inquiries and applications that are responded to within an hour are more likely to result in leases (close to 50% of the time). Many properties find themselves tied to their operating hours—when potential tenants call or email after these set hours they do not receive responses until the next business day, often resulting in them continuing their research and looking elsewhere. By the time their inquiries are responded to, the likelihood that they have found some place else to live has increased exponentially.
It is a proven fact that many potential tenants do most of their apartment hunting after the five o’clock hour—once they’ve arrived home from work. Multi-family renting is a business in itself though, with most properties ending the work day at five o’clock, as well. You see the problem, and so do we! Because extending office hours is often a hassle for many businesses, Occupancy100 offers an after-hours call service that guarantees a response from our professional leasing agents at our central office to more than 90% of all applications submitted between the hours of 8 p.m. and 2a.m. We ensure that responses will be made within an hour of receipt of the inquiry or application so you can rest easy—and of course, you only pay per result! Even more of a reason to rest easy—there’s nothing to lose!
Posted in Apartment Management Service, Apartment Management Services, Apartment Marketing, Apartment Marketing Support, Find Latino Residents, Get Good Tenants, Get More Renters, Get More Tenants, Get a Tenant, Getting Good Tenants, Help Renting Apartments, Hispanic Market, Latino Prospects, Latino Renters, Tenant Acquisition | 32 Comments »
Thursday, July 30th, 2009
More traffic… more qualified traffic… better closing techniques are the name of the game for owners and managers.
However, achieving this is a complex task. A significant key is recognizing that the American demographic is a changing thing. Did you know that 72% of new tenants for the next 10 years are expected to be minorities and that half of these will be Hispanic/Latino? Also, did you realize that this year American schools will graduate the largest class in history? Or, what about the fact that seniors as a part of population will grow disportionately over the next 10 years.
What about economics? How does the loss of wealth from the recession impact you? Or, how will increased savings impact renting?
As owners and manager, studying our markets is critical. This implies studying our local market and market trends. This means understanding global trends. Finally, this implies coming up with techniques to capitalize on these factors once understood and quantified.
Blake Ratcliff – CEO of Pallaton Properties
Posted in Apartment Management Service, Apartment Marketing, Apartment Marketing Ideas, Apartment Marketing Support, Find Good Tenants, Find Renter, Find Renters, Find Tenant, Find a Tenant, Finding Good Tenants, Finding Renters, Finding Tenants, Get Good Tenants, Get More Renter Traffic, Get More Renters, Get More Tenants, Get Tenant, Getting Good Tenants, Getting Tenants, Hispanic Market, Hispanic Tenant Finding, How to Find Renters, Increase Apartment Occupancy, Increasing Apartment Occupancy, Obtain More Leases, Obtain More Renters, Obtain More Tenants, Online Property Management, Receive More Renter Traffic, Receive More Renters, Receive More Tenants, Tenant Acquisition, Tenant Finding, Tenant Getting, Tenant Placement Service, Tenant Placement Services | 6 Comments »
Tuesday, July 21st, 2009
Advertising your multi-family property may seem like an arduous task considering the myriad of options (and expenses!) available these days. At Occupancy100, we’ve learned that online advertising is the most practical option when pitted against print advertising in terms of ROI and the infinite number of potential renters these types of advertisements are able to reach.
Print ads tend to be incredibly expensive and with a low return on investment. Brochures, pamphlets, newspaper/magazine ads, billboards, etc. require high monetary investments in order to fund design, printing, distribution, storage, and postage, and potential error modification. After such an outflow of money, the geographical restrictions for distribution are incredible—often these types of advertisements are seen mainly by the older generations who are less likely to use the Internet, and skip over those younger generations who rely mostly on the World Wide Web as their main source of information.
In comparison, online advertising costs are often limited to website hosting—which costs a minimal monthly fee—and the individual advertisements can be seen by any person with a computer, whereas print ads are generally limited to their specific geographical locations. Online ads are capable of reaching an infinite number of potential tenants with a larger overall profit margin per consumer in contrast to print ads. Additionally, errors can be easily corrected with online advertising whereas correcting any printed mistake requires an entirely new printed product—re-establishing the original costs.
After trying print advertisements for ourselves with minimal results, we tried our hand at advertising on the web, and what a difference it made for us and our company! We want to help you utilize these tried and true techniques for your own business! With our Successful Website, Search Engine Marketing, and Search Engine Optimization services, we help your business gain the top spots in organic and paid search results and we help you to expand your properties’ marketing opportunities as a whole. We even gather monthly reports so you can track the progress and traffic of your advertisements in conjunction with tenant acquisition at your properties. The best part? You only pay for results! Check us out today!
Posted in Apartment Management Service, Apartment Management Services, Apartment Marketing, Apartment Marketing Ideas, Apartment Marketing Support, Apartment Tenant Qualification, Find Good Tenants, Find Renter, Find Renters, Find Tenant, Find a Tenant, Finding Good Tenants, Finding Renters, Finding Tenants, Get Good Tenants, Get More Renter Traffic, Get More Renters, Get More Tenants, Get Tenant, Get a Tenant, Getting Good Tenants, Getting Tenants, Help Rent Apartments, Help Renting Apartments, How to Find Renters, Increase Apartment Occupancy, Increasing Apartment Occupancy, Leasing Support, Marketing Apartment, Marketing Apartments, Multi-family Renting, Obtain More Leases, Obtain More Renters, Obtain More Tenants, Receive More Renter Traffic, Receive More Renters, Receive More Tenants, Tenant Acquisition, Tenant Finding, Tenant Getting | 7 Comments »
