.png)
If you are a property manager or own rental units, you may find yourself frustrated with your current vacancies.
Look, if you have a 10-unit building, for example, and you have 7 of those filled, why can't you get the remaining 3 filled?
If you are getting enough traffic and your marketing is adequate, then you should NOT have an issue with getting those last 3 units rented out.
The VERY first thing you need to ask yourself is: Am I getting enough traffic on a weekly basis?
If your leasing specialist is getting 10 tours per week, and is having issues with filling the vacancy, the something is not right here...
The first thing that comes to mind in this situation is that your unit is NOT showing nicely. Maybe your photos are fine, but when prospects tour the unit in person, they are turned off by it.
You may even toss around the idea of dropping the price. But hey, if the price was too high, don't you think you wouldn't have any touring activity? If you have touring activity, that means prospects are interested even at the rate you have your rental listed at.
So why would a prospect come tour a unit only to decide they don't want to sign a lease?
The MOST common reasons are:
1) Your unit is NOT showing nicely.
2). There is a struggle to convert tours to leases.
Assuming that your rental is showing nicely, if you have prospects turning away after the tour, then it's time to evaluate what is going on in the leasing office.
When evaluating your leasing specialists, ask yourself the following:
1). Do they dress professionally? Are they positive and friendly?
2). Do they show up to the appointment on time?
3). Do they greet the prospect? Are they professional?
4). Do they provide the prospect with enough information to make a decision?
5). Do they give the prospect marketing material after the tour?
6). What is the leasing specialist's touring protocol?
7). Are they missing anything throughout the tour? Did they remember to show the prospect neat amenities like the pool, gym, etc?
8). Did they answer all questions appropriately when it comes to Fair Housing?
9). Are they following up with the prospect after the tour?
10). Are they going for the close after the tour? Or do they just let the prospect off the hook?
Always ask yourself these questions when evaluating your leasing specialist. This will only help you and them!
At Wise Owl Company, we make sure to train our leasing specialists so that they are implementing all of the BEST leasing and closing tactics. This way you get leases right away!
If you are in need of a solid leasing team, feel free to reach out today!
Remember, NEVER EVER sleep on those vacancies!