site management survival tactics: how to pocket an extra $100,000 anne sadovsky presents:
Post on 29-Dec-2015
Embed Size (px)
Anne Sadovsky Presents:Site Management Survival Tactics:
How to Pocket an Extra $100,000
Your ResidentsWhy is it Important to Keep Them?
Make a list:
It costs 5 times more to get a new resident than to keep the one youve got!!!Begin by choosing the right residents in the first placeWhen the market is strongBut when it is soft..
Dont Shoot Yourself in the FootThe application process
You could lease only to redheadscriteria for leasingtake a new look
Give all the facts to all the folksOccupancy standardsFair Housing and kidsPets / animals Lease term optionsTechnology satellite dishes, high speed access, on line rent paying, credit cards
Important tips:Reword your rules into community policiesNowhere is securewatch what you implySuccessful Service Requestadd what the cost would be if they had to pay
Who is Your Biggest CompetitorIf they buy they lose:MobilityFlexibilityRecreation / social activitiesMaintenance / customer serviceYou!
Create a Rent VS Buy Campaignwww.nmhc.org
Use the one sheet
Ritchie Renter and Henry HomeownerUse 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, lets go camping this weekend! I cant. I have to mow the grass and pull the weeds.
We both got a bonus, lets 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% die3% move away5% buy from or through friends9% competition takes them away14% product dissatisfaction68% perceive employee indifference
Renters evaluate us
Dealing with Difficult PeopleDont ReactDisarm themChange the gameUse magic wordsEvery Resident should be a public relations spokesperson for your community
For Service Success
The resident is not your enemyDevelop your people skillsUnderstand / survey the customerask questionsBe available and remember namesThink win-win
Develop a PlanMove in daywelcome giftBirthday card / emailRegular communicationBudget for renewal gifts / incentives
Move-in day Welcome Gift & Card in apartment. Printed brown grocery bagtoilet 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 cardDinners 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 Gifta 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 StayCarpet 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 ofAverage $2,500
$300 Renewal bonusNon cash, non rent, non refundableMenu:Paint.$200 or spot paint $75Appliance $300Cleaning Service $150Microwave $100Ceiling Fan $75Hard surface floor replacement $150
Use a High Cost of Moving SheetNew deposit $300Pet deposit $300Utilities $150Redecorate $250Incidentals $100First Months Rent $750Application Fee $35Moving Van $500Groceries $200 $2,585. cash up front
Make a list of 3 things youll use from todays sessions1.