Apartment Lease Up
If you are in the middle of an apartment lease up right now and are struggling with filling your vacancies, then this post may be helpful to you.
Maximizing on your rental income is not all that easy. We have seen so many buildings do things like a) increase rent, b) hand out free months of rent, and c) increase their marketing budget.
While all of these sound like not-as-ideal options, unfortunately they are the options that many building owners have to resort to.
However, there is a huge missing piece here.
Have you ever wondered what your leasing specialist's conversion ratio is? Have you wondered how their sales conversion ratio could be affecting you in either a positive or negative way?
What if the leasing specialist that is in charge of your apartment lease up is a rockstar and they can convert 1 out of 4 tours into leases?!
Let's imagine for a second that your current leasing specialist is only converting 8% of people that walk through the door. And let's say you have 10 tours during one week. That means there are good chances your leasing specialist has not converted any of these people into leases!
So that means you are left with no choice but to try and lure people in by giving them free months and even having to increase your marketing budget just to try to improve the odds that your leasing agent gets some leases.
But WHAT IF you simply improved on your leasing specialist's conversion ratio...
Well, you would get more leases! BOOM!
And all we did there was improve on one variable, and we get the result that we want- more leases.
At Wise Owl, we help your apartment lease up by making sure you have our rockstar leasing specialists to get the job done for you.
We understand that maximizing your returns is what you are in the business to do. So we are here to help! We are proven and have used our methods on numerous apartment lease ups, and we are certain that we can help you as well.
So let's get you started. Simply fill out the contact form on our website, or simply give us a call. :)