Site Management Survival Tactics: How to Pocket an Extra $100,000 Anne Sadovsky Presents:
Dec 29, 2015
Site Management Survival Tactics:
How to Pocket an Extra $100,000
Anne Sadovsky Presents:
Your Residents…Why is it Important to Keep Them?
Make a list:
1.2.3.4.5.6.
It costs 5 times more to get a new resident than to keep the one you’ve got!!!
Begin by choosing the right residents in the first place…
When the market is strong…… But when it is soft……..
Don’t Shoot Yourself in the Foot
The application process
You could lease only to redheads…criteria for leasing…take a new look
Criminal check
Give all the facts to all the folks
Occupancy standards Fair Housing and kids Pets / animals Lease term options Technology – satellite dishes, high
speed access, on line rent paying, credit cards
Important tips:
Reword your “rules” into community policies
Nowhere is ‘secure’…watch what you imply
Successful Service Request…add what the cost would be if they had to pay
Who is Your Biggest Competitor
If they buy they lose: Mobility Flexibility Recreation / social activities Maintenance / customer service You!
Create a Rent VS Buy Campaign
www.nmhc.org
Condo conversions
Use the one sheet
Ritchie Renter and Henry Homeowner
Use a little humor to make a point
Put in on your website
Publish a column in your newsletter on the benefits of renting
Get sold yourself
Ritchie Renter Henry Homeowner “Lonely? How can you be lonely? My apartments “None of my neighbors even speak.” have parties where I meet lots of people!”
“Hey, let’s go camping this weekend!” “I can’t. I have to mow the grass and pull the weeds.
We both got a bonus, let’s take a vacation. I have to buy a new hot water heater!
Can You Identify with this Story?
Or does this sound more familiar? Why customers quit: 1% die 3% move away 5% buy from or through friends 9% competition takes them away 14% product dissatisfaction 68% perceive employee indifference
Renters evaluate us
1 Reliability
2 Responsiveness
3 Assurance
4 Empathy
5 Tangibles
Dealing with Difficult People
Don’t React Disarm them Change the game Use magic words Every Resident should be a public
relations spokesperson for your community
For Service Success
The resident is not your enemy… Develop your people skills Understand / survey the customer…
ask questions Be available and remember names Think ‘win-win’
Develop a Plan
Move in day…welcome gift Birthday card / email Regular communication Budget for renewal gifts / incentives
Move-in day Welcome Gift & Card in apartment. Printed brown “grocery” bag—toilet paper, paper towels, correct picture hangers, small hammer. $10
-or-Shallow basket, dry pasta, jar pasta sauce, bread sticks (individually wrapped), soft drink/ water (big bottles), 4 paper napkins, 4 plastic forks, paper tablecloth, 4 chocolate mints, welcome card—“Dinner’s on us your first night home.” $15
*Get birthday (not year) and set up in computer to send birthday card on that day
1st Week Welcome Letter and Survey with follow-up call from the Manager.
3rd Week Brief letter from Maintenance with blank Service Request forms (or reminder of where to e-mail Service Requests) and reminder of Resident Referral Fee*.*We will advise how to work around the Res. Ref. Fee restrictions (contract labor).
60 Days (2 months) after move in Check file/ computer for Service Requests; if none or few, send note/ call.
4th Month Check for rent payment habits and Service Requests, if good, ask resident/s for their opinion and testimonial (to use in 3rd party promotions of property).
5th Month Send a “We Appreciate You” Gift—a mug of candy or popcorn pack with movie tickets (or video rental coupons) with letter “This is your home…”
7th Month Send Address Labels printed with their name and apartment number.
9th Month Rent vs. Buy one sheet.
10th Month “Invitation” to stay / renew with High Cost Of Moving one sheet.
11th Month Renewal Bonus menu (non-cash, non-rent) from which resident/s may choose. $300 Also, a personal telephone call.
What Will You Do to Get them to Stay
o Carpet Cleaning,Painting,Make ready cleaning & maintenance,Replace Counter Top,One appliance,Add Ceiling Fan,Incentive/new renter, 1 monthAdvertising (pro rata- share),Leasing Bonus,Locator Fee,Loss to 2 weeks Vacancy, Utilities…. Add whatever else you think of…Average $2,500
What if?
o $300 ‘Renewal bonus’o Non cash, non rent, non refundableo Menu:o Paint….$200 or spot paint $75o Appliance $300o Cleaning Service $150o Microwave $100o Ceiling Fan $75o Hard surface floor replacement $150
Use a High Cost of Moving Sheet
New deposit $300 Pet deposit $300 Utilities $150 Redecorate $250 Incidentals $100 First Months Rent $750 Application Fee $35 Moving Van $500 Groceries $200
$2,585. cash up front
Make a list of 3 things you’ll use from today’s sessions
1.
2.
3