site management survival tactics: how to pocket an extra $100,000 anne sadovsky presents:

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