Very simply, an apartment complex leases or fails to lease on three points:
1) Is it priced competitively to its market.
2) Are the apartment conditions and amenities offered consistent with the expectation of the renting demographic mix.
3) Socially, is the apartment complex suitable. That is, is the complex a safe and happy place to live.
If any of these items get out of balance, management will struggle achieving or maintaining occupancy.
As an owner or manager, ensuring you are on your guard about the kind and quality of tenant is an important task. This means monitoring the income statement for signs of other problems. Checking the rent roll for hints of tenant issues (there is a strange connection between credit and behavior issues).
The Internet is big, but the basics still prevail.
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[...] What are the three legs of Apartment Leasing? [...]
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TenantDetective.com has an instant online tenant screening service that lets you check criminal and eviction records instantly.
TenantDetective.com has an instant online tenant screening service that lets you check criminal and eviction records instantly.
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TenantDetective.com has an instant online tenant screening service that lets you check criminal and eviction records instantly. Saves me time when screening tenants – I can now approve them instantly.
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