Discover What Apartment Renters Love!


“Discover What Renters Love!” Free attendance … limited to the first 500 people … Join Christie Fleck Struble, Director of Marketing for For Rent Media Solutions  and Host Tami Siewruk Chief Imagination Officer for Multifamilypro  on Valentine’s Day, February 14th at 1pm EST to “Discover What Renters Love!”

For Rent Media Solutions went to your prospective renters to bring you an understanding of their needs, desires and expectations for 2013.

You will leave this FREE MproTV Show with the complete white paper and an  understanding of the thought processes of renters, you’ll have the tools to cultivate a tactical marketing strategy to increase occupancy and resident retention.

“Discover What Renters Love” will provide you with insight on how renters are searching for apartments, their interaction preferences and what they would like to receive from their future community.

 Valentine’s Day, February 14th at 1pm EST

Register Here

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Fair Housing and Common Sense: It’s Not So Complicated After All

 

How many of you have tried to assemble a newly purchased toy, computer system or piece of equipment WITHOUT reading the instructions?

The answer is: most of us!  Then when frustration sets in, when we suffer, we decide to study the right way to accomplish the task.

Unfortunately we tend to treat fair housing laws and guidelines exactly the same way…we wait until we are in trouble to “read the directions.”  Just ask anyone who has had a complaint or lawsuit filed against them how smart they are NOW.

Wouldn’t it make more common sense to learn how to prevent the suffering in the first place, rather than learning how to prevent it happening again?

So many of the fair housing questions asked in seminars have simple common sense answers.  Here are a few for you to mull over:

“Why can’t we have separate swimming pool hours for the adults, like “no children allowed on Saturday and Sunday from 10 am until 3 pm.”???  Sounds reasonable, doesn’t it?  It would give the grown ups time to float and nap and not get splashed….

The common sense answer, the “ah hah” experience happens when we respond “would you have separate pool hours like ‘no Jews (or blacks or Chinese or Muslims or handicapped people’) in the pool Saturday and Sunday from 10 until 3?”  The answer is always a resounding “NO, that would be illegal.”  Well, children have the EXACT protected status as race, color, national origin, religion, handicapped and gender.  It’s just common sense!

Next question…”Can we limit the number of occupants by calling a two bedroom a one bedroom den? ”

HUD continues to look closely at “sleeping spaces” that are not actually bedrooms.  So why do we think they would miss an actual bedroom that is being called something else?  A rose is a rose by any other name.  Plus common sense tells me that in a soft market we could fill a lot of vacancies if we allowed more small persons not yet walking to share the bedroom with their parents!  Sometimes the lack of common sense backfires on us and costs us money!

And last for today…”Why can’t we put all the people with kids downstairs and all our older residents upstairs?  It would sure keep the peace.”  Here we go again…would you have a policy that all Hispanic people must live downstairs?  Of course not…and kids have the same protected status!

Sometimes the answers to our fair housing questions are as simple as asking ourselves “Does that make COMMON sense to me?”

Multifamily Pro TVAnne Sadovsky CSP, CAM, CAPS, RAM

866 905-9300

anne@annesadovsky.com

http://facebook.com/annesadovsky

ww.annesadovsky.com

Multifamily TV

On Demand shows, follow the “REGISTER HERE” links in the Episode Guide below.

Fair Housing is a prominent part of our daily lives, and as multifamily professionals we are aware of  that to the point of being wary. How much do you really know about Fair Housing, and examine if you are letting fear or lack of knowledge get in the way of doing your best work? This show is designed to get you up to speed on fair housing and equip you with the confidence to perform effectively within the boundaries of these important laws! Join one of our industry’s most experienced authorities Anne Sadovsky and many special guests as we explore real-life case studies, lessons learned, success stories, and potential pitfalls on topics including: the importance of consistency and documentation; what is (and isn’t) a protected class; the ins-and-outs of accessibility; observing occupancy standards; the skinny on steering; guidance on companion and assist animals, latest findings and much more!  Always exciting and educational…stay updated and educated on this very important part of your job!

Fair Housing Focus Details

  • Level: All
  • Length: 10 pre-recorded episodes, 60 minutes each
  • Subscription: Receive all 10, 60 minute episodes for just $199  OR purchase individual episodes for just $29.95 each.
  • Sponsor:

How to Buy: Click on the button below or on any of the individual links in the Episode Guide to visit our Online Catalog and purchase all or any episodes you wish to view.

Episode Guide

CLICK HERE To Purchase  Episode 1

In the Beginning, There are the Basics. This first episode focuses on the fundamentals starting all the way back to 1866! You will learn how Fair Housing relates to Civil Rights, who, exactly, the protected classes are with definitions of each, how and when different ‘groups’ became protected, what additional federally protected classes might be coming in the near future, whether your state, city, or county have additional anti-discrimination laws of which you need to be aware and more! The key takeaway will be a firm grasp of who is protected and why!

CLICK HERE To Purchase  – Episode 2 – Featuring Special Guest, Doug Chasick, Chief Learning Officer and Sr. VP, Professional Services, CallSource

There is more to Fair Housing than Meets the Eye, and this episode will expand your view of what lies beneath the surface! Join Anne and her special guest, Doug Chasick, as they discuss shoppers and testers and if what they do is entrapment, how to respond to a Fair Housing complaint, how much time you have to address a complaint, and other key considerations!  The key takeaway will be an increased awareness and understanding of Fair Housing issues, how to deal with complaints and lawsuits, retaining certain documents and other information far beyond protected classes alone!

CLICK HERE To Purchase – Episode 3 – Featuring Special Guest, Doug Chasick, Chief Learning Officer and Sr. VP, Professional Services, CallSource

Today it is such a part of our landscape and life experience that most of us accept the continuous flow of marketing messages. They are part of the fabric of our daily lives; but these messages aren’t exempt from Fair Housing rules! This episode focuses on social media, advertising, marketing, and how and where Fair Housing applies. We’ll discuss issues including linguistic profiling; email name profiling; social media profiling; unexpected surprises; and more.  The key takeaway will be an educated understanding of what you can and cannot say, print, or post!

Douglas D. Chasick, CPM®, CAPS, CAS, SLE, Adv. RAM, CLP, CDEI, “The Apartment Doctor”, is the Senior VP of Multifamily Professional Services for CallSource. With over 35 years of investment real estate experience, he began as the Resident Manager of a 524-unit apartment property, and has been the President or CEO of five real estate companies, responsible for portfolios of over 28,000 apartments, and more than 8 million square feet of commercial, retail and industrial properties. An nationally recognized speaker and author, Doug was awarded his CPM® in 1979 and was a member of the IREM National Faculty for eight years. He is a Senior Instructor member of the NAAEI Faculty, leading the Advanced Instructor Training course and NAAEI designation courses. A licensed Real Estate Broker in Florida and Georgia, he is also a licensed Expert Fair Housing Instructor in the Commonwealth of Virginia, and an NAA/HUD certified Lead Hazard Awareness Training course Instructor. Doug is a 2010 recipient of the National Apartment Association’s prestigious Apartment Career and Education (ACE) Award. Contact Doug at dchasick@gmail.com, www.aptdoctor.com, www.twitter.com/aptdoctor, www.facebook.com/aptdoctor, and www.linkedin.com/in/dougchasick.

CLICK HERE To Purchase – Episode 4 – Featuring Special Guest, D.J. Ryan, Fair Housing Specialist and Director of Client Education, Kimball, Tirey & St. John LLP

The vast majority of us are in the business of providing homes for families that include children, and Fair Housing advocates have a great deal of interest in this protected class. You will learn how to comply with Fair Housing relative to families with or expecting children; how to set occupancy standards; what the Keating Memorandum is and what it represents; how to identify potential “dangers” on the property; how to apply age and adult accompaniment, rules and restrictions for amenities on-site; and more.  The key takeaway will be a more complete understanding of Familial Status as a protected class.

DJ Ryan has served the rental housing industry since 1973, working with the San Diego County Apartment Association for 18 years (14 of those years as Executive Director). She has been active in fair housing since 1987. From 1991 to 1997, she focused on fair housing issues as a consultant, speaker, trainer, and writer in her own consulting business. ­Since 1997, she has been a fair housing specialist and director of the firm’s statewide education program.

 

CLICK HERE To Purchase  Episode 5 – Featuring Special Guest Moloy Good, Executive Director, Fair Housing Council of Oregon
Like any extensive area of consideration in our industry, Fair Housing has its “hot topics” and this episode will address a few of the ones that are probably hot on your agenda as well, including how to address steering, concessions/specials, cooking odors, answering “difficult” questions, second-hand cigarette smoke, medical marijuana, domestic violence, and more. The key takeaway will be an update on some of the latest issues that are grabbing attention and generating debate, and what Fair Housing laws have to say!

Moloy Good started with the Fair Housing Council of Oregon in April of 2003. He was recently named its Executive Director. FHCO is a highly regarded private nonprofit dedicated to furthering the cause of fair housing through education, outreach, and enforcement. Mr. Good began his work with FHCO as its Enforcement Coordinator. In this position he managed all of FHCO’s enforcement activity, including designing and administering tests to determine if the fair housing laws are being met. Previously he worked as a staff attorney for Legal Aid Services of Oregon. He helped defend people against evictions, but also negotiated with landlords to avoid evictions. Mr. Good’s commitment to civil rights began while he was growing up in a small town in the Pacific Northwest. He experienced and witnessed much of the ignorance that leads to bigotry and prejudice. In high school he decided to pursue a career that would allow him to combat this intolerance. During college he continued to pursue this goal by studying about the civil rights movement, eventually writing his senior thesis on the subject. He chose to attend Howard University School of Law because of its long and distinguished history as a catalyst for the expansion of civil rights. His work with FHCO has allowed him to use his legal education to help defend and further the cause of civil rights.

CLICK HERE To Purchase – Episode 6

Housing is a people business, and wherever there are people, gender issues can come into play. This episode focuses on gender issues ranging from women’s rights, sexual harassment and domestic violence on the property. What can you do if domestic violence occurs and one or both of the residents want to stay on the property?  What if an employee is accused of sexual harassment? Your key takeaway will be a greater understanding of how Fair Housing relates to these key issues, and how to navigate these difficult waters with success.

CLICK HERE To Purchase – Episode 7

This week’s show features many discussions of who and what Fair Housing laws protect, but this episode will turn the tables with focus on  areas where Fair Housing rules and laws do NOT provide protection. We’ll talk about some things that may surprise you, discuss situations where residents think they are protected and are not, how to handle the questions.  We will include how your signage, documents, websites, brochures and old community policies can get you in trouble, and how rewording and other changes will create your best compliance and defense!

CLICK HERE To Purchase – Episode 8

Many Cities and States are adding protected classes to the seven protected under Federal law.  This session includes discussions on other classes added for protection, by whom and where, and why.  Could these additional protected classes be considered by HUD as additional federally protected groups?  What action does it or would it take to gain protection for any additional persons/groups?  Is there a group or class that is added most often by states, cities, companies?

CLICK HERE To Purchase  – Episode 9 Featuring Special Guest, Doug Chasick, Chief Learning Officer and Sr. VP, Professional Services, CallSource

Get your questions answered and your answered questioned!  This is a great chance to submit your most burning Fair Housing issues, questions and comments.  July 1 is the deadline to email your questions to Anne at anne@annesadovsky.com.  Every effort will be made to create a discussion group, answer the questions, get more information for you and get clarity on issues that you face regularly.

CLICK HERE To Purchase  – Episode 10 Featuring Special Guest, Doug Chasick, Chief Learning Officer and Sr. VP, Professional Services, CallSource

This is the best opportunity ever of attendees to share stories and experiences, how they were handled/settled and what issues you deal with most.

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Introducing: The 30 Minute Manager Series on MProTV’s Retention Report

Register now for this FREE series! 12 p.m. Eastern on the 3rd Thursday of the month

 

July 19 – How the Maintenance Team Will Save Your Summer

The summer months can cause a priority tug of war between turning units and addressing service requests. Learn strategies for maintaining balance between the two needs that not only benefit existing and new residents, but office and maintenance team members too!

August 16 – Move-In Magic

New residents begin to make their lease renewal decision within the first hours and days of moving in. Learn the keys to a perfect or near-perfect move-in experience that sets the stage for lease renewal from Day 1.

September 20 – The Top 5 Ways You Can Impact Lease Renewals

What has the greatest impact on resident loyalty? Here’s the latest data on what matters most to residents when they are making their lease renewal decision and what you can do to impact that decision.

October 18 – Generating Gratitude on Your Online Ratings

How to maximize positive comments and scores on your rating and review sites, keeping in mind that online reputation begins with your onsite reputation.

November 15 – Leasing Agent: Stand Out! Get Noticed!

An insider’s look on how to reach your full potential in the eyes of your prospects and your company, including, how to connect with prospects/new residents/existing residents, how to win points with the maintenance team, and how to impress your supervisor!

December 20 – Weighing the Value of Resident Events

Do an internet search for “Resident Retention” and you’ll find hundreds ideas for resident events and activities. But what impact do these really have on resident loyalty? Learn what matters most to residents when they are making their lease renewal decision!

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REACH FOR THE STARS ACCELERATED LEASING AND RENEWAL PROGRAM

Contributed by Amy Alred, CLASS and the Leasing Workshop

This is a super program/policy that is guaranteed to increase your numbers!  Create a daily call in sheet listing all employees responsible for leasing on your site or all sites within your portfolio.  Your call in sheet should include seven days a week and a specific goal each employee is challenged and empowered to meet weekly.  You can also incorporate your resident renewal goals on this call in sheet.  Next work with every employee individually to develop a daily leasing and renewal goal and mark this on the call in sheet.  Now it is time to implement your program for successful leasing.  Target a specific time for employees to call in and report their accomplishments from the day before. Leasing Specialists from our company our responsible for calling in to our National Training Director every day before they start their day.

 

The objective for having our Leasing Specialist call in is to:

 

  1. As an off site management team, we know on a daily basis what our leasing numbers are from every property we are working on.
  2. We listen to the tone and attitude of our leasing specialists.  If they had a super successful day, we are able to congratulate them on the spot and share their accomplishments with every one in the home office. If they had a challenge or tougher day, we are able to work with them and pump them up before they start their day.
  3. Calling in is a very PROACTIVE approach to monitoring your company’s leasing activity.
  4. ACCOUNTABILITY. Your employees will be motivated and expected to play their “A” game every day.

 

A weekly flyer to goes to every employee responsible for leasing.  This is a colorful and cute flyer we produce and mail on Fridays.  It lists the top three Leasing Specialists.  Our team loves these, and a lot of them save them in their “me” files.  The flyer helps others to step up to the plate and lease, lease, lease.

 

Our company has been doing this for 19 years.  The cost is less than $25 a month plus time of the person who takes the calls. It works!  You have to have someone in authority and who is a very good performance coach to take the calls EVERY morning.  I have been doing this for five years, even when I am traveling or on personal time and I can say it definitely drives our business to hit our company’s performance benchmarks month after month and year after year.

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Activities and Events Can Provide Leasing Support


Who gets invited to management-sponsored special events and routine activities?

  • The residents
  • Adult guests of residents
  • Business and industry contacts: human resource people, corporate VIPs, department heads, relocation agents
  • Prospects and their guests
  • Community-relations people: local government, neighborhood press, officials in community services such as fire, police, schools, etc.

 

Invitations should be tasteful and well thought-out, but they need not always be in writing or printed.  A handwritten note on letterhead is a nice touch, but telephone calls can also be an effective way for leasing agents to encourage prospects to meet residents and other prospects or to sample the community in advance of making a decision.  The leasing agent needs to arrange to meet the prospect at the door at a given time, with the intention of introducing that person around to select residents, other prospects, etc.  Leasing professionals should be relied upon to host functions and cause guests to feel welcomed and comfortable.  Leasing agents and management staff should greet residents warmly, treat their guests like royalty, and perform introduce them to other residents and guests.
Invitations and follow-up contacts with business and industry should be a bit more businesslike, but still warm and caring.  The invitation by mail, hand-delivery, or phone should be appealing enough to be memorable.  The department head or the personnel director of a targeted area employer might not be personally interested in attending your function—but a secretary or clerk in that department might, and that may be all it takes to get a referral.  If no one shows, and you continue to mail invites and then call for RSVP, you still will be making an impression upon someone if you do so often enough to be recognized and remembered.  Make it a good and elevating experience for the person who opens the mail or answers the telephone call.  Then, your name and that of your community will pop into his or her mind when an employee or candidate solicits apartment information.  You just don’t know where things will lead.

 

You may also just happen to have one of those treasured secretaries, clerks, or department heads living in your community, and never have realized what benefits they can provide.  Look over your resident list and see who would be in a position of influence to possibly refer someone or to feed you leads about who will be transferring into town and when.

Who Coordinates Activities and Events? How to Fund Them?

Of course, the manager is responsible for all community affairs, but the likely candidate to coordinate the advance promotion and execute the event would be your leasing team.
Promoting these activities and events interfaces well with an outreach program conducted by leasing professionals.  You never can tell who might enjoy an aerobics class, Monday night football potluck supper, or crafts show.  The power of suggestion is mighty surprising.
There are some overused budgets from which you might borrow funding: newspaper, resident referral payments, and rental concessions.  Many and varied events can, and should, be paid for by the attendees.  You don’t have to offer activities for free; all you must do to warrant paid attendance is to plan and manage the activity well enough that it’s worth more to the prospective attendees than what you’re charging.  People really want to feel excited about their free time, and hopeful that it will meet some of their needs.  Maybe all you’re doing is providing a place to hold certain classes for a three-week or six-week period: Self defense, Oriental cooking, crafts, astrology, better English grammar for business, how to prepare taxes, clogging, flower arranging, or whatever is offered elsewhere.  It could be exposing your community in a positive way, with a minimum effort on your part.

 

12-Month Calendar Example and Ideas

Get a 12-month calendar that has blank spaces for every day of the month and the entire month on one page.  Page-at-a-glance viewing is helpful to the planning process in order to make sure the schedule, expenses, and activity variation have balance and meet your target market objectives.
Obtain a list of all the important dates for the calendar year in which you are working.  Make sure you have some veneration days for all walks of life and all religious persuasions that could relate to your anticipated profile.
Obtain a list of “crazy” holidays and celebrations around the world.  These are available in the public library.  Partial lists are exhibited here as an example.  The lists may be holidays, or even a birthday list of notables, living or dead.  It’s fun to brainstorm when you have information before you.  For example, communities with many small children might promote a Saturday afternoon celebration of Hans Christian Andersen’s birthday on April 2.  Pay a drama student to do readings and animate the children’s literature.  You might get some good mileage out of this type of program promotionally, even if very few children actually attend.  Take close-up photos in place of group shots when the group is small.  Or celebrate Orville Wright’s birthday on August 19, with an outdoor cookout and kite-flying contest (adults or children).  Or pay a fee to the local jump school and have them do a flyover and jump at your property, if you have enough grassy area to land.  Or have a model plane contest, or arrange helicopter rides through your local airport. If you have an upper-end community, how about a Beethoven Tree-Trimming Party on December 16, Beethoven’s birthday, to put a new twist on Christmas celebrations.
In the calendar examples provided, there is generally a routine event each month, which runs with seasons and moods, and a special event each month.  These routine and special events deliberately change profiles for reasons already explained.

 

Synopsis
Use the power of your imagination to create a groundswell of excitement.  Put a twist of creativity into every event to make it outstanding enough for everyone involved to talk it up—both before and after the event.  It isn’t easy to be memorable in this time of heightened competition.  Your creativity can make the difference.  But make a difference in measured doses.  Too ambitious a program will wear you down and diminish your effectiveness level.  For the first year, try just two or three ideas and work out the kinks, get accustomed to the pace of promotion.  It’s very different than direct advertising.  But whatever you do, look carefully at each event and see how you can get more mileage out of it than you thought possible previously.  There is no better resident-retention opportunity than causing residents to have fun and derive real enjoyment from where they live.  If the community is an integral part of their social structure, they won’t want to let go very easily.
Home can be more than a nice place to live—it can be a lifestyle!

 

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Increasing NOI and Asset Value – The Case for Attention to Retention

Article originally appeared in the June 2010 issue of the National Apartment Association’s UNITS magazine.


By Doug Miller and Jen Piccotti


Attention to retention has increased as the rental pool has gotten smaller and smaller, as competitive housing has become more prevalent (condos, single family homes), as units are sitting vacant longer, and as concessions have grown.   Because there are not as many prospective residents entering the front door and the costs associated with every move-out has grown to astronomical levels, owners and managers have become more and more focused on how each team member can personally “close the back door” to protect cash flow, net operating income (NOI) and asset value.  To understand the critical impact of resident retention and the significant influence team members can have, one must understand the role of NOI and cap rates on asset value.

Why are NOI and Asset Value So Important?

NOI and increasing asset value are the reasons someone acquires multifamily assets.  That is why it is critical for everyone, from leasing consultants and maintenance techs on-site…all the way up the organization…to not simply understand what NOI and cap rates are, but to also know the significant impact both have on asset values.

Definition and Impact of NOI and Operating Expenses:

Let’s start with some definitions*:

  • NOI is Gross Operating Income minus Operating Expenses.
  • Gross Operating Income is Gross Scheduled Income (assumes 100% occupied, 100% collected) minus vacancy, concessions and credit loss allowances.
  • Operating Expenses are the costs necessary to insure the ability to generate income.  This includes utilities, supplies, property management, repairs, maintenance, and turnover costs – and every move out saved eliminates these latter costs!  Items not included are loan payments (may need a mortgage to buy, but not to operate), depreciation, and capital expenditures.

So, NOI is used to assess the value of assets: market value is driven by the income stream (NOI).  Today’s challenging marketplace impacts NOI due to reduced demand, higher concessions and increased vacancy loss days.  These costs are eliminated for every move-out that does not occur…so retention makes “dollars and sense” in good times as well as bad!

Definition and Impact of Cap Rates:

Next, we need to understand the definition* and role capitalization rates (cap rates) have on asset values.

  • The capitalization of income is used to estimate the value of an asset.  This assumes that value is related to the ability to generate NOI.
  • Cap rate is the ratio between NOI and present value: Cap Rate = NOI/Present Value.
  • Example: A property with $400,000 NOI that is valued at $6,155,000 means a 6.5% cap rate was used.

Estimating the Value of a Property:

Estimating the value, or what one would pay to acquire the asset, requires flipping the formula noted previously.

  • Value = NOI/Cap Rate.  The projected value is driven by the expected NOI and the buyer’s required cap rate (rate of return).  One buys assets expecting NOI will deliver the desired rate of return (cap rate).
  • If NOI for a property is projected to be $400,000 and a 6.5% rate of return/cap rate is used, the estimated value is $6,155,000.
  • A seller must consider a potential buyer’s other investment options, so attracting buyers requires a property being priced so its cap rate (buyer’s rate of return) is competitive.

Impact of Today’s Increased Cap Rates on Asset Value – An Issue:

Cap rates have increased the last several years due to the challenges of the economy and market conditions…with buyers and lenders expecting a higher rate of return due to increased risk.  What happens to asset values as cap rates increase?

  • Value/sales price drops as the cap rate increases.
  • Example: When the previously noted property with a $400,000 NOI is valued/capitalized using a higher rate of 8%, value drops to $5,000,000 (down from $6,155,000).
  • The reduced value creates challenges for the owner.

Impact of Industry Conditions and Increased Cap Rates on Assets with Maturing Debt:

Due to the economy, industry conditions and the banking crisis/credit shortage, cap rates have increased, so asset values have decreased.  What is the impact on properties with financing that is maturing or about to have interest rates reset?  The following shows the significant impact and why reduced turnover can dramatically impact NOI.

  • $400,000 NOI asset at 6.5% cap rate purchased for $6,155,000.
  • 90% bank loan-to-value means they will loan $5,539,500; the balance is funded by the buyer.
  • THEN cap rates increase since loan originated.
  • An increased cap rate of 8% drops the value to $5,000,000.
  • 90% bank reset/refi loan-to-value means they will loan $4,500,000; the balance has to be funded by the owner.
  • BUT FIRST, the original $5,539,500 loan must be paid off, however with the reset or refi the bank is only willing to finance $4,500,000…so the owner is “upside down” by $1,039,500.
  • SO, the owner must come up with $1,039,500 to erase the “upside down” for this one property!

How can one eliminate the “upside down” or raise the funds needed during challenging economic times when credit is tight?  There are several options to increase NOI:

  • Increase market rents.  Achievable during this horrific recession?
  • Renovate, reposition the property and increase market rents.  Again, achievable during this recession?
  • Slash operating expenses.  Are there any properties that are overstaffed?
  • Or, given that most turnover is controllable and that the cost of each move-out has a huge NOI impact, focus on reducing costly turnover using low cost/no cost retention strategies?

The answer is to focus on retention due to its significant positive impact on NOI and asset values (today as well as during a strong economy!).  To validate this point, how much does turnover cost?  What is its impact on NOI and asset value?

The High Cost of Turnover, the Impact on NOI and the Case for More Attention to Retention:

The cost of turnover has increased due to market conditions.  In addition, not everyone includes all of factors that impact this cost.  When evaluating an individual property’s true turnover costs, one must have a clear picture of the impact each resident’s move-out decision has on the property’s financial well-being:

  • Average market rent
  • Average vacancy loss days
  • Average wages for the leasing team to re-rent the unit
  • Average wages for the maintenance team to turn the unit and make move-in ready
  • Advertising and marketing costs
  • Referral or locator fees
  • Concessions
  • Leasing commission
  • Repair and replacement costs to make the unit move-in ready
Move-Out Cost: Challenging Market Conditions
Assumptions: Average
Average rent* $980.40
Average vacancy loss days 45
Average concessions $823.54
Maintenance tech average hourly $18.32
Maintenance tech average hours to turn a unit 9
Leasing agent average hourly $16.96
Leasing agent average hours to show and rent a unit 10
Calculations:
Vacancy loss $1,471
Concessions* $824
Leasing staff time/cost $170
Marketing/advertising cost/rental (guides, newspaper, internet listing services, other advertising and marketing costs) $356
Resident referral fee / locator or rent.com fee (average) $444
Leasing commission $40
Carpeting cleaning or replacement cost $136
Painting cost $197
Appliance repairs or replacement cost $292
Miscellaneous maintenance costs (parts, etc.) $141
Maintenance staff time/cost $165
Apartment Clean $71
TOTAL $4,305
Source: SatisFacts Research (www.SatisFacts.com)
* Source: Axiometrics (www.axiometrics.com); average asking rent and concessions as of Feb 2010

As an illustration of the impact these costs can have on NOI and asset value, consider a 5000-unit portfolio that is able to reduce resident turnover by 5%.

  • 5,000 units x 5% lower turnover x $4,300/move-out = $1,075,000 increased NOI
  • NOI/ 8 cap rate = $13,437,500 increased value

Turnover presents a tremendous challenge for the industry. According to the NAA Annual Income and Expense survey, the average turnover rate over the last six years has ranged between 55%-62%.  For many industries, having to replace this volume of customers annually would make it nearly impossible to keep the doors open. Service and manufacturing businesses alike rely on repeat business.

In the multifamily industry, repeat business equates to lease renewals.  Our clients have experienced the impact of a greater focus: first year clients often reduce turnover by up to 6%; and, our clients’ average turnover is nearly 10 points below the rates reported in the NAA Annual Income and Expense Report.  The question becomes how does each member of the property team, including office and maintenance associates, personally impact resident retention on a daily basis?

Low/No Cost Best Practices to Reduce Turnover

An Internet search for resident retention ideas will typically result in suggestions of sending residents a birthday card, having a newsletter, throwing pizza parties, and delivering any number of trinkets as a way of expressing gratitude to the resident for choosing that community. After surveying millions of residents, however, there is no data to support that these tactics reduce turnover.

The data does provide very clear focal points that often cost nothing to the property management company but have a direct impact on a resident’s decision to renew their lease – and therefore protect NOI and asset value.  The renewal process begins at move-in and continues through each resident call and email, each work order that is completed and each personal interaction with a team member throughout the life of the residency.

Move-In

It is critical to follow up with every move-in to ensure the resident’s new home is clean and that everything is functioning properly.  According to the SatisFacts Insite™ Index, 26% of new residents experience a non-working fixture or appliance.  First impressions are lasting, and from a resident’s perspective if they discover that basic expectations such as a working stove or bathroom lights working they immediately begin questioning their decision to make this community their home.  In fact, new residents who have an outstanding maintenance issue are one-quarter less likely to renew their lease compared with longer term residents with issues.

Maintenance teams can personally impact this first impression by implementing what Bill Nye refers to as the “look right” inspection process. The process requires the maintenance team member to enter the front door and follow the wall to the right checking every fixture, outlet, bulb, appliance, window, screen, window covering, lock, latch, door, counter top, etc.  Eventually the tech ends up back at the front door, with a thorough inspection completed and deficiencies can be remedied immediately.  While this may add time to the inspection process, it safeguards against new residents walking into problems and causing them to wish they had moved elsewhere. It also reduces the amount of rework the maintenance team will have to come back and do in the inevitable service requests.

Work Orders

It is critical to follow up on every completed work order to ensure it has been completed to the resident’s satisfaction. A SatisFacts correlation analysis reveals that this practice has the second greatest impact on renewal likelihood. Why?

High Priority Maintenance Satisfaction Topics SatisFacts

Index

Maintenance: Follow-up by office staff 41%
Maintenance Staff: Request completed right the first time 80%
Maintenance: Maintenance problem still exists 26%
Score Key:

<3.00 = Red Flag, 3.00 – 3.49 = Warning, 3.50 – 3.99 = Average, 4.00 – 4.49 = Superior, 4.50 – 5.00 = Exceptional

Source: SatisFacts Research

According to the 2009 SatisFacts Index, only 80% of residents’ service requests are completed right the first time, and 26% of residents report a maintenance problem still exists. While some outstanding maintenance issues may be attributed to requests not completed right the first time, some issues may be ones that the resident has not reported. They may be minor issues such as a loose handle on a cupboard or a screen door that no longer slides open easily. Such issues are a daily irritant to the residents, but not severe enough today (in the resident’s mind) to warrant a formal service request. Regardless of the type of outstanding maintenance problem, part of the luxury of living in an apartment community is knowing that someone else is responsible for taking care of the home maintenance. When that luxury becomes a liability, the resident’s perception of value diminishes.  They then begin to wonder if they might have better service (and maintenance) down the road at the competing community – and then they get their renewal letter!

By following up on every completed work order, each office staff team member then ensures the request was completed to the resident’s expectations and also ask, “Is there anything else we can take care of for you?”  This will often prompt the resident to remember some of those “little things” that have been bothering them. While up seven points from the prior year, the current reality is that only 41% of residents receive any kind of follow up.  This means nearly 60% of residents may potentially be stewing about the perceived “bad job” done or “poor condition” of a home for which they are paying hard earned money. Follow-up effort by follow-up effort, value is enhanced when residents can feel confident that their maintenance issues will be resolved effectively and efficiently. And if they are not, they can at least be confident the issues will be quickly and easily resolved when they receive their standard service request follow up call, email or survey.

Responsiveness

Nobody wants to have to work hard to be a customer.  There is nothing more frustrating when a resident has to continue to check in as the staff is not responding to calls and emails.  Therefore, establish a standard that all residents receive a same-day response to any call or email.

The previously noted SatisFacts correlation analysis identified “Prompt response to calls and emails” as the topic that has the greatest impact on renewal likelihood. The issue is not when you are responsive, it’s when you are not.  The last thing any owner needs is for residents leaving because the staff is not delivering the courtesy of responding!  While many property management companies already place this as a priority, the SatisFacts Insite™ Index for the Move-In, Work Order and Pre-Renewal feedback modules clearly shows a negative trend of perceived responsiveness after the initial move-in experience.

This common sentiment is summarized best in this quote from a SatisFacts Annual Resident Satisfaction Survey, “The staff has not been trained in customer service. Only in sales. Once you sign a lease they are unresponsive and indifferent to their customers.”

When asked at specific touch points how satisfied they were with the responsiveness of the office staff, residents responded with the following, with the score dropping over time – from move-in through the term of the lease.  The great news is that once staffs realize how critical responsiveness is…satisfaction and renewal likelihood scores grow, as supported by trends in survey scores.

How satisfied are you with the responsiveness of the office staff? Insite ™ Index
Insite ™ Move In touchpoint 4.40
Insite ™ Work Order touchpoint 4.34
Insite ™ Pre-Renewal touchpoint 3.61
Score Key:

<3.00 = Red Flag, 3.00 – 3.49 = Warning, 3.50 – 3.99 = Average, 4.00 – 4.49 = Superior, 4.50 – 5.00 = Exceptional

Source: SatisFacts Research

Prospects who have experienced prompt call backs or email responses from their leasing consultant are often surprised to have a markedly different experience once they move in. As they continue their residency, the trend appears to support the perception of residents that the staff is more focused on getting new residents in the door than serving their residents who have already signed the lease.

The office staff can personally change that perception by ensuring that they respond to all resident calls and emails on the same day received.  Even if the resident has asked a question, and the answer isn’t available yet, enormous goodwill is created when the team member returns the call or email to say, “I just wanted to let you know we are still looking into your concern, and we’ll give you a call as soon as we have an answer. I didn’t want you to feel that we’ve forgotten about you!”

The Resulting Impact on NOI and Asset Value

Because of the significant impact reducing costly turnover can have on NOI and asset value, it is critical for property owners and managers to support a focus on service delivery and communication, and make retention at least as important as leasing. Individual team members create the resident experience, and their commitment to service basics throughout the entire resident life cycle has a direct impact on the financial solvency of not only their own property, but the entire company.

The good news is that as each team member implements basic follow-up and response-oriented strategies as a daily standard, turnover will be reduced and owners will be able to see bottom line proof that NOI is being protected and asset value maximized.  Our years of reviewing client performance metrics validate this.

* Definition Source: RealData (www.realdata.com/ls/noi.shtml)

Join multifamily’s resident satisfaction and retention authorities, Doug Miller and Jen Piccotti of SatisFacts.  The absolute most effective thing you can do to keep your efforts on track is to safeguard your most valuable investment: the customers you already have. Given the high cost of turnover and that the majority of turnover is controllable (yes, it is!), that’s why we’ve devoted an entire show to just this aspect of the way we do business today. In each episode, you’ll hear more about what drives retention and learn about best practices that will  improve resident satisfaction and keep them renewing!

Third Thursday of each month

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Doug Miller
Since the mid 1980s Doug Miller, President of SatisFacts Research, has been involved with the marketing, research and training functions for thousands of properties nationwide.  Prior to starting his own businesses in 1996, Miller was Director of Marketing for several national and regional property management firms including NMHC Top 50 Forest City Residential.  Doug is the multifamily industry’s leading authority on resident satisfaction research  and retention – surveying millions of residents over the years to determine what best practices drive satisfaction and retention…and how to use this information to reduce controllable turnover.  Miller received his BSBA from Washington University/St. Louis and MBA from The American University (DC).

MultifamilyproTV Jen Piccotti
VP – Consulting Services Group, has over a decade of resident loyalty and process efficiency experience.  A noted author and keynote speaker in the multifamily industry, she has served as chair of the Service Quality Division for the American Society for Quality (ASQ), and has been MC for their Annual Service Quality Conference for several years running.  Previously, Jen was Quality Manager for a privately held property management company in Southern California where she oversaw the quality assurance program, including loyalty programs, work-time studies, process improvement initiatives, QA training and organizational communication. Jen received her undergraduate degree from Boise State, and holds a Master of Science – Quality Assurance from California State University, Dominguez Hills.

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THE NUMBER ONE, MOST IMPORTANT, NEVER FAIL INGREDIENT IN RESIDENT RETENTION


What is it?  COMMON SENSE!

Let’s keep this simple.  We have begun to see the resident as the enemy…after all, there are so many of them and so few of us.  Plus, they act like they own the place. And on top of that, they all have problems on the same day and then take it out on us.  They are rude, demanding and arrogant.  Who needs them anyway?

I do, and so do you!  Without them, we’d be out of business, and no business means no job.

Let’s look at some simple common sense tips/rules/ideas that just might change our negative feelings toward our customers and make us more successful at keeping our residents.

1.  Understand who the resident is.  They are often difficult.  Most of them live stressful lives, have demanding jobs, family problems and financial constraints.  Sound familiar?  Wow, they’re just like us.  The only difference is that they have us to take it out on.  So next time someone is being mean to you, have a little empathy.  Practice magic words like “I’d be upset if that happened to me” and mean it.  If you don’t take their behavior personally, and instead realize that the world has just gotten to them on that day, perhaps your behavior, your response, will be a little different.  If people were always easy, always nice, your boss could probably find someone for less money to do your job.  So think of yourself as a peacemaker, a junior grade psychotherapist, and the world’s best professional problem solver.

2.  Treat your peers with respect and kindness.  They are your customers, too.  Your service tech, your groundskeepers, the accounting office, your supervisor; they are your “in-house” customers.  And you are theirs.  The way you treat each other becomes a behavioral habit, and reflects in the way you treat your “outside customers;”…. the residents.

3.  Understand that the residents create your paycheck.  The more happy and satisfied they are, the longer they stay, the more they pay, the more they refer their friends, then their friends stay and pay, and on and on.  The reputation of your community grows more and more positive, ultimately creating long term high occupancy. The money you are paid does not come from your company, it comes through the company.  It comes FROM the residents.

4.  Remember how nice all of you were when they came in looking for an apartment, how everyone in the office went out of their way to say hello?  We offered them refreshments, the best chair in the office and gave them our undivided attention. You know, ladies…sort of like we treated our boyfriends when we wanted them to become our husbands.  So why, after they have become our residents (or our husbands) does all that love and attention stop?  We even complain that those darned residents come into the office and eat all the cookies and drink up all the coffee.  Why wouldn’t they?  After all, that’s how they thought it would be after they were married! (Oops, I mean after they moved in!)  Big advice….we have to keep selling to them every day if we want renewals, just like we sold to them before they signed on the line the first time.  Contrary to popular belief, and to the way we treat them we do not own them forever.  We can never stop selling!  Budget for retention and renewal; send little cards and flowers, spring for lunch once in a while…you’ll be pleased with the results.

5.  Rewrite your “rules and regulations.”  If they sound like you’re the Federal Government or their parents, get rid of all those “you have to, you must, you can’t, do not” beginnings to every sentence.  Title the policies “Resident Guidelines” or “Helpful Handbook” and use lot’s of “please and thank you and we appreciate your cooperation” beginnings.  Feel free to reference the policies as a “legal addendum” to the lease, but please know that you’ll get more cooperation, and put a better taste in their mouths, when you say it nicely.  And yes, they are just as legally enforceable when said politely.

6. It’s tempting to give up on social activities for your residents…I know, you plan parties and they don’t show up.  Take a look at the ‘invitation.’  Do you roll up a photo copied black and white piece of paper and rubber band it to their door knob?  You know, one that says something like “if you have nothing better to do on Friday night, we’re having a dumb little party from 7 to 9?”  The invitation is more important than the event…make it exciting, give it a theme, use great colorful paper, tie on a balloon, shape it like a heart, attach it to a candy bar…THINK!  What would make you excited to attend a party?  Get a resident social committee together and let them help plan several events…if they help make it happen, they’ll help market it.  The day before the party, call every resident personally and remind them, telling them you really want them to be there.  And a few door prizes will further your cause!

7.  Why wait until 60 days before their lease is complete to start with surveys and friendly treatment?  All that should begin on and before move in day.  Plan a program where they are contacted at least 4 times during a 12 month lease.  Ask how they are doing, if anything needs to be done in their home, wish them a happy birthday.   Let them hear from you other than ‘it’s time to renew your lease.”

Remember their name when they pay their rent.  68% of customers who stop doing business with any given business do so because of some perceived disinterest toward them by someone on the front desk.  Show that you care…and really mean it!

8.   Take a long look at the documents you use to invite them to renew.  I know, I know…your company or the State or somebody expects you to use “the forms” but certainly you can add a cover letter or invitation that is personalized and is warm and friendly.  Words like “renew” instead of “expire” and “we want you to stay” have a powerful impact.  In consumer focus groups we’ve learned that they hate fill in the blanks type form letters.  So make it personal and individual.

9.  Please remember that they are not stupid.  They see the free rent banners and ads just as the prospective renters do.  When they ask “What will you do to get me to stay?” you’d better come up with something better than “We’ll shampoo your carpet.”  Even if they received some kind of incentive at the beginning of their lease, remember that they could move out and move back in, or move elsewhere, and receive that “special” all over again.  Then you’re out not only two to four weeks loss to vacancy, but cleaning, painting, utilities, advertising costs, locator fees PLUS the incentive to the person who finally does rent it.  Move outs today cost the housing provider around $2,000.  Offer a $400. renewal bonus!  Take care of all the disclaimers right up front…non cash, non rent, non refundable, non accruable…then offer a menu of what the resident can use their “allowance” toward.  For example, complete paint for $200, a ceiling fan with light kit for $100, a microwave for $150, carpet replacement for the whole $400 on a long term lease.  Make up your own list and your own game plan, use your own amounts and numbers, but do something! If you snooze, you lose.

10.  Last but far from least, remember the Golden Rule…better yet establish a platinum rule.  Treat others, renew residents, exactly as you’d like to be treated and renewed.  We have taken the customer service aspect of our business way too lightly.  We’ve always focused far more on leasing than retention and look where it has gotten us.  There will always be job transfers, marriages and divorces…and yes, with lower interest rates and government aid there will be house purchases.  But let me repeat the statistics…68% move out because of the way they are treated, and there IS something we can do about that!

Don’t Miss Anne’s Show on MproTV

Anne Sadovsky, CSP (a Certified Speaking Professional by The National Speakers Association) is the owner of a Dallas based marketing, consulting and seminar firm – where she and her associates provide training, keynotes and counsel to a variety of industries, businesses and associations. Clients come from a variety of fields including housing, medical, technology, churches, hospitality, women’s groups, and education. She is the former Vice President of Marketing and Education of Lincoln Property Company. Her expertise in multifamily housing (since 1968!) makes her a sought after consultant and trainer. As a consultant Anne has literally saved and made apartment owners and developers millions of dollars. Her training tapes and seminars have educated thousands. She has officially flown more than one million miles in order to share her wisdom and wit. Anne is a widely published author and a popular guest on radio and television talk shows nationally. Her success story has been written about in many newspapers and magazines including Money Magazine, Texas Business and Ladies Home Journal. Mirabella Magazine listed her as one of the One Thousand Women of the 90′s, along with Mother Teresa and Oprah Winfrey. She is affiliated with numerous business and professional organizations including the National Speakers Association where she holds the prestigious designation of Certified Speaking Professional. She has earned a Texas Real Estate license, and is a CAM, CAPS, And RAM, along with many other designations and honorary positions in the industry. Anne is one of the most astute trainers in Fair Housing and Diversity in the industry. Hundreds of thousands of people have been inspired and challenged by Anne’s story. Her message is common sense, entertaining, and enlightening. She makes a difference and helps create success in both business and personal lives. She is truly the first lady of the apartment industry.

anne@annesadovsky.com

www.annesadovsky.com


Multifamily TV

Fair Housing is a prominent part of our daily lives, and as multifamily professionals we are aware of  that to the point of being wary. How much do you really know about Fair Housing, and examine if you are letting fear or lack of knowledge get in the way of doing your best work? This show is designed to get you up to speed on fair housing and equip you with the confidence to perform effectively within the boundaries of these important laws! Join one of our industry’s most experienced authorities Anne Sadovsky and many special guests as we explore real-life case studies, lessons learned, success stories, and potential pitfalls on topics including: the importance of consistency and documentation; what is (and isn’t) a protected class; the ins-and-outs of accessibility; observing occupancy standards; the skinny on steering; guidance on companion and assist animals, latest findings and much more!  Always exciting and educational…stay updated and educated on this very important part of your job!

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Fair Housing and Common Sense

…It’s Not So Complicated After All

How many of you have tried to assemble a newly purchased toy, computer system or piece of equipment WITHOUT reading the instructions? The answer is: most of us! Then when frustration sets in, when we suffer, we decide to study the right way to accomplish the task. Unfortunately we tend to treat fair housing laws and guidelines exactly the same way…we wait until we are in trouble to “read the directions.” Just ask anyone who has had a complaint or lawsuit filed against them how smart they are NOW. Wouldn’t it make more common sense to learn how to prevent the suffering in the first place, rather than learning how to prevent it happening again? So many of the fair housing questions asked in seminars have simple common sense answers. Here are a few for you to mull over: “Why can’t we have separate swimming pool hours for the adults, like “no children allowed on Saturday and Sunday from 10 am until 3 pm.”??? Sounds reasonable, doesn’t it? It would give the grown ups time to float and nap and not get splashed…. The common sense answer, the “ah hah” experience happens when we respond “would you have separate pool hours like ‘no Jews (or blacks or Chinese or handicapped people’) in the pool Saturday and Sunday from 10 until 3?” The answer is always a resounding “NO, that would be illegal.” Well, children have the EXACT protected status as race, color, national origin, religion, handicapped and gender. It’s just common sense! Next question…”Can we limit the number of occupants by calling a two bedroom a one bedroom den? ” HUD continues to look closely at “sleeping spaces” that are not actually bedrooms. So why do we think they would miss an actual bedroom that is being called something else? A rose is a rose by any other name. Plus common sense tells me that in a soft market we could fill a lot of vacancies if we allowed more small persons not yet walking to share the bedroom with their parents! Sometimes the lack of common sense backfires on us and costs us money! And last for today…”Why can’t we put all the people with kids downstairs and all our older residents upstairs? It would sure keep the peace.” Here we go again…would you have a policy that all Hispanic people must live downstairs? Of course not…and kids have the same protected status! Sometimes the answers to our fair housing questions are as simple as asking ourselves “Does that make COMMON sense to me?”

Don’t Miss Anne’s Show on MproTV

Multifamily TV

Fair Housing is a prominent part of our daily lives, and as multifamily professionals we are aware of  that to the point of being wary. How much do you really know about Fair Housing, and examine if you are letting fear or lack of knowledge get in the way of doing your best work? This show is designed to get you up to speed on fair housing and equip you with the confidence to perform effectively within the boundaries of these important laws! Join one of our industry’s most experienced authorities Anne Sadovsky and many special guests as we explore real-life case studies, lessons learned, success stories, and potential pitfalls on topics including: the importance of consistency and documentation; what is (and isn’t) a protected class; the ins-and-outs of accessibility; observing occupancy standards; the skinny on steering; guidance on companion and assist animals, latest findings and much more!  Always exciting and educational…stay updated and educated on this very important part of your job!

s.

Anne Sadovsky, CSP (a Certified Speaking Professional by The National Speakers Association) is the owner of a Dallas based marketing, consulting and seminar firm – where she and her associates provide training, keynotes and counsel to a variety of industries, businesses and associations. Clients come from a variety of fields including housing, medical, technology, churches, hospitality, women’s groups, and education. She is the former Vice President of Marketing and Education of Lincoln Property Company. Her expertise in multifamily housing (since 1968!) makes her a sought after consultant and trainer. As a consultant Anne has literally saved and made apartment owners and developers millions of dollars. Her training tapes and seminars have educated thousands. She has officially flown more than one million miles in order to share her wisdom and wit. Anne is a widely published author and a popular guest on radio and television talk shows nationally. Her success story has been written about in many newspapers and magazines including Money Magazine, Texas Business and Ladies Home Journal. Mirabella Magazine listed her as one of the One Thousand Women of the 90′s, along with Mother Teresa and Oprah Winfrey. She is affiliated with numerous business and professional organizations including the National Speakers Association where she holds the prestigious designation of Certified Speaking Professional. She has earned a Texas Real Estate license, and is a CAM, CAPS, And RAM, along with many other designations and honorary positions in the industry. Anne is one of the most astute trainers in Fair Housing and Diversity in the industry. Hundreds of thousands of people have been inspired and challenged by Anne’s story. Her message is common sense, entertaining, and enlightening. She makes a difference and helps create success in both business and personal lives. She is truly the first lady of the apartment industry.

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A Love Story

Multifamily TV

With all the efforts by the public to avoid advertising and sales from DVRs, no call lists and spam blockers; how should we approach leasing an apartment and positioning our product in this new era? We need to switch our focus from “all about me” to celebrating LIFE at our communities with word of mouth (WOM) marketing, and start talking about what people LOVE about their life. Take the emphasis off the commercial details about the floor plan and have a testimonial from a resident sharing what they love about living there. We have to get away from data and numbers like “2-bedroom, 2-bath, 879 square feet…” and start sharing word of mouth testimonies about how people enjoy privacy, space, life, love, entertaining friends and quiet evenings at home in this well-thought-out space. It’s all about the “story” of life … not the commercial description of the product!

In their book, The Cluetrain Manifesto, authors Rick Levine, Christopher Locke and Doc Searls identify important market observations needed to change our perspective on product positioning. We have to understand that the Internet has broken down mass marketing into individual conversations. Companies need to create intimate relationships through meaningful language. The more commercial you sound the less the public will listen. Unless you use an authentic human voice, your message simply becomes a part of all the noise that no one wants to hear. If you are old enough to remember when “Amazon” was just a river, you may need to update your product positioning strategy in order to be “heard” by the NOW generation.

How can you speak in an authentic voice and engage your residents to share Word of Mouth recommendations? Use the philosophy taught by the Word of Mouth Association – “Don’t tell … Do ask.” Don’t tell people about your product in commercial language; but ask your residents to share their experience from an honest human perspective.

Begin to develop your WOM strategy by setting your intention on writing a love story about life at your property. Interviewing your last 10 residents who rented and find out why they chose your property. What do they LOVE about your area? What is their favorite nearby restaurant? What businesses do they frequent the most? Where do they like to spend their free time? This becomes the WOM content from which you will build your “authentic voice”.  Have your team develop a list of “Reasons Why People LOVE Living Here,” generated from resident interviews. I call it the Love List! This list should share not just your pool, floor plan, amenities, great service, online rental payment and other things provided by the company – share the reasons that go beyond you!

Redefine your WOM marketing by sharing “what you get as a resident of our community” according to the entire experience of the life they will enjoy. Engage your resident’s to use digital video or still camera to capture the essence of life around your community.  Search Google neighborhood area information to obtain lists and locations that you may be unfamiliar with. Begin in Google maps with your address and then search area retail, restaurants, park and recreation and more.

The complete WOM “Life” experience of your resident may include sports centers, activities, bowling, movies, theaters, swimming, golf courses, driving range, goofy golf, recreation centers, parks, jogging trails, play grounds, lakes, water sports, water parks, amusement parks, training centers, recreation lessons – dive center, museums, antique stores, boutiques, shopping malls, coffee shops, ice cream shops, churches, hooka bars, tubing hills, climbing walls, skate parks, tennis courts, racquetball, basketball courts, dirt bike trails, bike trails, dog parks, game rooms, spas, dance clubs, sports bars, sporting arenas and more!  FIND EVERYTHING! Take a drive down every street, go into every store, find every secret your area holds and share it. Capture it in still life pictures and video!

IDEA: We recently created a cool “I LOVE this” graphic that can be printed on 8.5″ x 11″ glossy cardstock paper in full color. Cut out the heart for your residents and have them take it and a camera or flip video to record them selves grinning big, holding the sign with their favorite cup of coffee! The sign is like a built-in talking cloud and the message with a few words is powerful. Ask them to take a picture with the sign on their favorite trail with their dog, playing at their favorite park or reading a book in their secret place. Use the photos and videos to enhance your WOM marketing.  Place this special group of photos to into a Shutterfly “LOVE Story” book and show your future residents a powerful visual of everything they will LOVE about living in your community with the shinning faces of your happy residents smiling back at them!!! When you have this, you have harnessed the power of the authentic voice of the consumer in word of mouth marketing! To answer the question “How do I sell in an anti-advertising age?” Resident testimonials and word of mouth marketing! No need to bore people pointing out the obvious facts, just share “a love story” about life and all the reasons people love living there. Without conventional selling, you just might increase your persuasive power and leasing success!

Build a LOVE List with all the reasons why your residents love their home …

Then write the perfect Love Story!

Don’t Miss Toni’s Shows on MproTV

Multifamily TVToni Blake is an international speaker, author and comedienne. Having invested more than 28 years of her life in multifamily housing, she tours over 50 cities each year inspiring thousands of industry professionals. As an author, Toni’s expertise has been published in over 36 trade magazines across the country. She was selected by the National Apartment Association as one of the industry’s “Marketing Gurus” and is recognized for her research and innovative concepts in customer service, sales, and marketing. Toni was honored at the very first Multifamily PRO “People’s Choice Awards” winning awards for Educational Excellence, Imagination and Innovation. Utilizing her multi-lingual talents, Toni was a featured speaker at the 2006 ISTA Conference in Kassel Germany, presenting IN GERMAN to an audience of over 260 German multifamily professionals. She is the president of TotallyToni.com and lives in Northern Colorado with her husband and two stepdaughters.

4945 West Eighth Street
Greeley, CO 80634
Totally TOLL FREE: 866.889.6600
Phone: 970.378.6784
Contact Totally Toni

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This, Too, Shall Pass…We Have Been Here Before!

The media has nothing positive to say…it is all doom and gloom. Of course sensationalism is what sells…so what is better for them than the bottom falling out at the same time the sky is falling? “The housing market has gone to heck in a hand basket” “Prices continue to fall, housing values are down” “Foreclosures are in the tens of thousands.” It is enough to make you fold your tent and go deliver pizzas, right?

Wrong! More millionaires have been made during recession/depression times than when times are good. These are the people who see the glass as half full, not half empty.

Too many of us give up…we listen to it until all we see are impossibilities. Yet there are those who see this market as filled with possibilities. This is the kind of market where it is really true…”when things get tough, the tough get going.”

Perhaps these markets come along to force us to get off our ‘laurels’ and to get creative. This is when we should pull out all the stops, when we examine all our marketing techniques, when we start working on our attitudes and skills.

It also when we need to gather our forces, band together and brainstorm. Rather than see our peers as competitors, see them as allies. Go to every meeting, seminar and gathering and pick everyone’s brain. Watch what the top sales teams do and do the same thing. Hang out with successful people. Think about every sales technique you have ever used…pull out some old tried and true ones, dust them off, update and use them again. As you shop and buy items, think about what made you choose that particular thing, or brand or store. Watch television advertising, and see what grabs your attention. We can get great ideas from how other products market and sell…and it isn’t theft, it is research!

Make sure that your product is top notch…every detail perfect. Sometimes it is the little things that make a difference. Even though the consumer may be bargain hunting, they want the very best for what they can afford; windows polished, brass gleaming, flowers blooming. Speaking of flowers blooming, business always picks up in the spring…thank goodness winter is over. It is always slower from the time that the turkey is on the table until the tax man comes…it is our only reason to be happy about April 15th.

What about your sales team? Have they succumbed to the disaster mentality? Shop them, train them, and increase their commissions! Are they likeable? Harvard says that American employers spend 75% of their training budget on product, technology and administration, and only 25% on teaching people skills. I say that if you are going to be successful today that you should reverse those numbers!

Likeability comes from three major areas: How we look and how we move, what we say and how we say it, and how we make other people feel. And it has to be accomplished in one minute or less…you know that old cliché “There is no second chance at a first impression.” A positive attitude is imperative.

Our energy and enthusiasm rubs off on the client; unfortunately so does desperation and negativity. Generating traffic is critical…sales is a numbers game. The more traffic, the more sales. I have a theory about closing the sale. About 30% of the traffic buys because they love the house, the location, the floor plan…kind of a slam dunk. 30% won’t buy…they can’t afford it, they don’t like the floor plan, it isn’t really the location for them. This means that you should expect a minimum of a 30% capture rate, even if your sales force is weak! And what is the point? A strong sales team looks at the middle 30% as an opportunity…if they are a great sales associates, they should be able to increase closing ratio to 50-60% by using their skills, their personalities, their abilities to convert lookers to buyers. So if we could generate one hundred qualified buyers a month, we should increase sales dramatically…the secret is more traffic.

One of the greatest weaknesses in sales of any product or service is follow up. Make sure that the prospective buyer hears from the sales team a minimum of three times. A postcard, a phone call, a brochure, an email…whatever it takes to keep in touch. Until they buy from you, from someone else, or until you read their name in the obituary column, they are still a prospective buyer. Be sure that follow up is done on a timely, and in a friendly, manner.

Have you stopped marketing, mowing the grass, flying colorful flags, all to save a little money? If so, it is costing you the big money. Buyers want to purchase from a winning team, a builder with a great reputation, one who stands behind their product…and who shouts all that from the roof tops! There is never a more important time to train, market, advertise, polish and smile than right now.

I received in the mail this week a color postcard from a 55 plus development advertising a ‘sale’ on a select number and style of homes. The card states “Up to $40,000 off for three days only.” Even though I haven’t sold my house, I am going to look because I think if I find something I love that my new mindset and desire for that new house will MAKE my current house sell. This may sound like I am trivializing what is happening with the economy, with our industry. However, from personal and business experience I promise that all this makes a difference. We have been here before, and we have not only survived, but thrived. Just remember, hang in there, put your best business practices in place…and know that this too shall pass.

Anne Sadovsky CSP CAM CAPS RAM

www.annesadovsky.com

anne@annesadovsky.com

866 905-9300


Multifamily TV

Fair Housing is a prominent part of our daily lives, and as multifamily professionals we are aware of  that to the point of being wary. How much do you really know about Fair Housing, and examine if you are letting fear or lack of knowledge get in the way of doing your best work? This show is designed to get you up to speed on fair housing and equip you with the confidence to perform effectively within the boundaries of these important laws! Join one of our industry’s most experienced authorities Anne Sadovsky and many special guests as we explore real-life case studies, lessons learned, success stories, and potential pitfalls on topics including: the importance of consistency and documentation; what is (and isn’t) a protected class; the ins-and-outs of accessibility; observing occupancy standards; the skinny on steering; guidance on companion and assist animals, latest findings and much more!  Always exciting and educational…stay updated and educated on this very important part of your job!

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Anne Sadovsky, CSP (a Certified Speaking Professional by The National Speakers Association) is the owner of a Dallas based marketing, consulting and seminar firm – where she and her associates provide training, keynotes and counsel to a variety of industries, businesses and associations. Clients come from a variety of fields including housing, medical, technology, churches, hospitality, women’s groups, and education. She is the former Vice President of Marketing and Education of Lincoln Property Company. Her expertise in multifamily housing (since 1968!) makes her a sought after consultant and trainer. As a consultant Anne has literally saved and made apartment owners and developers millions of dollars. Her training tapes and seminars have educated thousands. She has officially flown more than one million miles in order to share her wisdom and wit. Anne is a widely published author and a popular guest on radio and television talk shows nationally. Her success story has been written about in many newspapers and magazines including Money Magazine, Texas Business and Ladies Home Journal. Mirabella Magazine listed her as one of the One Thousand Women of the 90′s, along with Mother Teresa and Oprah Winfrey. She is affiliated with numerous business and professional organizations including the National Speakers Association where she holds the prestigious designation of Certified Speaking Professional. She has earned a Texas Real Estate license, and is a CAM, CAPS, And RAM, along with many other designations and honorary positions in the industry. Anne is one of the most astute trainers in Fair Housing and Diversity in the industry. Hundreds of thousands of people have been inspired and challenged by Anne’s story. Her message is common sense, entertaining, and enlightening. She makes a difference and helps create success in both business and personal lives. She is truly the first lady of the apartment industry.

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“Talk Isn’t Cheap, It’s Priceless!”

“What’s Your Customer Service KRI rating?”

Wikipedia defines “customer service as the provision of service to customers before, during, and after a purchase.

Therefore customer service is, a series of activities designed to enhance the level of customer satisfaction, that a product or service has met that customer’s expectation.”

Its importance varies by product, industry and customer; defective or broken products can just be exchanged, often only with a receipt within a certain amount of time. Retail stores often have a desk or counter devoted to dealing with returns, exchanges and complaint issues.

But how about what the customer feels? We are no longer in a “local” world, where our words and actions are only seen or heard by just the people in our “little neck of the woods”. Hundreds of web sites are out there for the customer to “air their dirty laundry” and voice their opinions” about literally everything.

And social media web sites have opened a whole new venue to let people know, “the good, the bad, and the ugly” and unfortunately, most times it is about the “ugly or negative aspects” of their experiences that people look for most! Have you seen what people are talking about on FaceBook, MySpace, or Twitter?! Can you imagine someone talking about you and your property?

There are many ways of measuring our customer’s satisfaction through surveys, phone calls, or in person conversations when we see them. But to ensure that we have focused our attention on the right areas, we can measure our efforts by utilizing and evaluating certain Key Result Indicators or KRIs to evaluate our efforts.

These KRIs are paramount to any successful business today, but never more important than with today’s economy, ever increasing competition and our customer‘s expectation, which continue to grow and change as lifestyles change.

KRIs have a direct impact on the bottom line of our cash flow and growth of our business and unlike many other businesses, many times the money lost in our business is literally money lost out of our own pockets!

Although there can be numerous, meaningful KRIs, the challenge is to select a few of the most influential areas which reflect your specific strategy of what you need to know in order to run your property  successfully and  profitably.

The focus must then be on those KRIs, which will deliver the most value to your business and done in such a way that you and /or your staff sincerely believe that they can make a difference with this effort.

One of the most important aspects of a customer service KRI is that of what is often referred to as the “Feel Good Factor“.  Basically the goal is to not only help the customer have a good experience, but to offer them an experience that exceeds their expectations.

When products, price, and service are basically the same, today’s customer is focused more on “how they are treated” and “what was their experience” with those whom they meet either on the phone or in person.

The roadmaps for our customer’s experience are the KRI s as follows:

BEFORE The Sale: Watch your competition and observe what they are focusing on:

Understand what your competition is doing so you may be prepared to answer what your prospective customer might ask. Anticipate those challenges and build the solutions in your sales approach.

Examine your competitors’ “catch phrases” such as “$99 Moves You In!”, or “No Deposit Required! ” Remember your customer can be swayed by these catch phrases by fulfilling their monetary needs. But what about the “real value” of their apartment home?

So what’s your slogan or catch phrase? What do you want your customer to remember about your property?  How will your customer benefit and feel about choosing your company or property over your competition?

DURING The Sale:

Treat customers as if YOU were the customer! That first impression is a powerful indicator of just how professional you, your staff, and your business are. People perform best and deliver the best customer service, when they like what they do. Trust is a big part of the sale.

Knowledge of all aspects of your business products and services adds value to your customer’s decision to rent with you.

Verifying your customers concerns of …

Fair & Comparable Pricing: Compared to other communities

Perceptional Value: Getting their monies worth for the product and services

Product Quality: A place they feel comfortable and environment is “homey”

User Friendly: Systems of accessibility such as resident portals, for rent payments and service requests, etc .

Would I Refer To My Friends?: Is their experience worth telling others?

Meets My Expectations?: Not overpaying for my current housing needs

Most of the communication that we relay to others is done through body language. If we have a negative body language when we interact with our customers, it can show in our lack of care.

Two of the most important parts of positive body language are smiling and eye contact. Make sure to look your customers in the eye. It shows that we are listening to them, not at them. And then of course smiling is just more inviting than the “deer in the headlights” look of …. “Well I don’t know what to tell you…”.

AFTER The Sale:

Nothing surprises your customer more than someone going the extra mile to help them. Always look for ways to serve your customer more than they expected.

Thank you note, follow up emails, coupons for dinner or movie, gas gift cards…all these are “unexpected pleasant surprises” that make a difference in that all powerful “exceeding the customer expectation”. In doing so it helps them to know that you do care and it will leave them with the “Feel Good Feeling” that we are searching for.

Small opportunities are often the beginning of great enterprises Your Customers Don’t Care How Much You Know, until they Know, How Much You Care!”

Let’s look at it from the customer’s point of view by asking the following questions…. True or False?

  1. 1. The first step toward improving your current level of service quality is to find out where the problems are. TRUE. How can you improve on something you really don’t know the “true answer”?  It’s like the old adage; “You can’t fix it if you don’t know it’s broken”. This is why we should be asking the customer every time we see them “How is everything going in your apartment home? Is everything working properly??
  1. When it comes to your on site staff, knowledge is more important than customer service skills. FALSE. Although knowledge is VERY important when selling apartment homes in the first place, maintaining the customer’s trust and keeping a good “relationship” with sincere, caring customer service skills wins out in the long run.
  1. 3. Most customers don’t care about your staff’s appearance; they just want their problems solved. FALSE. The psychological perspective a customer has begins with how they “perceive” the staff’s ability to do their job well. Dressing professionally enhances that confidence and respect level a customer has with the staff as a professional, which in turn affects their “trust” level in that staff member. Some companies have decided “career apparel” gives them that professional edge.

Proactively soliciting for your customer’s input, having good communication systems in place, quick response times to the customers’ problems, sincerity, patience, appreciation of diversity, and understanding, from everyone who serves your customer, all affect you KRI rating.

So remember to give every customer your very best every time! You just never know who that next person might be; it just might be YOUR Undercover Boss and how would that experience play out on national television tonight?

Don’t miss Jackie’s show on MproTV!

Multifamily TV

ACKNOWLEDGEMENT:

“Jackie Ramstedt, CAPS, CAM, CAS, is a nationally renowned Motivational Keynote Speaker, Marketing Consultant, and Performance Coach, who has more than 27 years experience in the real estate industry throughout the United States and Canada. For information on how Jackie can help with your seminar, training, consulting or Keynote speaking needs, please contact her offices at 800-925-5169, e-mail Jackie@jackieramstedt.com. or visit her website www.jackieramstedt.com.   Thank you.

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Two-for-One Today on Leasing @ Current Market Rents!

TODAY ON LEASING @ CURRENT MARKET RENTS:

Register for our special LIVE Encore of Episode 6 (Presenting Your Apartments & Community) at 1:00 pm Eastern, AND/OR today’s regularly-scheduled Episode 7 (Gaining Agreement) at 2:00 Eastern, and WATCH BOTH for the two-for-one price of only $39.95!(Series Subscribers may watch both at no added cost, and episode-by-episode purchasers will pay only one low price for both!)

  • IMPORTANT: Full Series or multiple-episode subscribers MUST STILL REGISTER for each show below that you wish to watch today in order to receive your login, and should select “I’m already a subscriber” at the bottom of the registration form.
  • If you’re not a subscriber, you’ll be charged only $39.95 for both episodes.
  • If you are unsure of your subscription status, email us anytime at info@multifamilypro.com.

Shortly after submitting your registration, you should receive a “Registration Confirmation” email that contains the link you’ll need to view the program as well as a link to download your workbook. If you DO NOT receive this confirmation message, please feel free to reply here.

REGISTERE HERE For May 9th Episode Six (Special LIVE ENCORE of the May 2nd Show!) Presenting Your Apartments and Community Starring Toni Blake and Tami Siewruk: In this episode, you’ll learn to use proven, successful tour path decision-making analysis and strategies; how to create and use the Apartment Marketing Kit-a uniquely fresh approach to amenities and features of the apartment and community; and more! *This is a special LIVE, 2nd run of the May 2nd Show at 1:00 pm Eastern (12:00 pm Noon Central, 11:00 am Mountain, and 10:00 am Pacific) and is offered at special two-for-one pricing along with Episode Seven … watch BOTH for only $39.95!

REGISTER HERE for May 9th Episode Seven (Today’s Regularly Scheduled Episode) Gaining Agreement Starring Toni Blake and Tami Siewruk: In this episode, you’ll learn how to artfully support the decision making process and help each customer to make a fully informed decision; the huge role of integrity in gaining agreement; how to build powerful visual aids that support the future resident’s clarity in seeing the benefits of choosing your community; 40 “yes” questions and how to subtly guide conversations towards a “yes” decision; and 6 easy strategies for successfully gaining agreement and achieving currents market rents. This show will air at the regularly-scheduled time of 2:00 pm Eastern (1:00 pm Central, 12:00 pm Noon Mountain, and 11:00 am Pacific) *Select this episode and you can also choose Episode Six above at special two-for-one pricing … watch BOTH for only $39.95!

We’ll See You Online Today!

Tami & Team Multifamilypro

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TODAY at 2:00 Eastern: Trend Watch!

Register NOW to join Tami Siewruk today at 2:00 Eastern for our first, half-hour episode of Trend Watch!

Each episode will introduce a hot new trend; talk about how it applies or can be adapted to our industry; implications to the way we do business; and how you can capitalize on it, increase your performance and get an edge on the competition!

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LIVE Encore on Monday!

HUNDREDS TUNED IN to the first broadcast of this amazing program and RAVED about all that they learned!

“Thank you both for a wonderful presentation! I love, LOVE, LOVED the idea of ___________and sending it to a person as a follow up. I also love the idea of using __________________…” – Michelle Fording

“I love the _______ idea! I have already _________________for my property and posted it to our Facebook page. Love it … now on to try some other great ideas.” – Vicki Bishop

Great show yesterday! Thank you for the cool ________tips and______. I will share them with my fellow colleagues. – Katia Nedeva

Those are just a few of the great ideas you might have missed, but DON’T MAKE THAT MISTAKE TWICE! Toni and Tami are broadcasting this career-changing show …

ONE MORE TIME, LIVE!

NEXT MONDAY, MARCH 21

2:00-3:00 pm Eastern!


How you handle every call has an overwhelming impact on your closing ratio … more than how you handle any other first contact with a potential resident. Even if you think you have a handle on phone skills, consider that today’s caller has access to a full array of added technology options thanks to smart- phones, changing the game when it comes to what’s possible over the phone. Join two of our industry’s most renowned leasing experts and find out how your closing ratio can SKYROCKET by using every advantage available to you today!

YOU WILL:

  • Engage your telephone customer with a new series of high-powered telephone interview questions, strategies and tools designed to convert telephone calls to leases.
  • Make the best use of technology to communicate with GenY and other tech-savvy consumers through links, photos, videos, and other informative online resources.
  • Discover and use fantastic visual tools including aerial maps, walkscores, and local Facebook fan pages that create an unforgettable telephone presentation … and more!

In just one hour you’ll gain a new set of innovative, career-changing skills, tools, and techniques that will increase revenue and put YOU and YOUR COMMUNITY at the top of the shopping list! Register now and pay only $29.95 for as many viewers as you can fit around a screen! Gather the Leasing Team together to watch this LIVE broadcast, and watch closing ratios soar!

FREE BONUS!

You’ll get Tami’s Perfectly Optimized Performance System (P.O.P.S.) spreadsheet designed to automatically calculate your telephone-to-traffic and email-to-traffic conversion ratios!


DON’T MISS IT AGAIN!

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FREE Special Feature on Monday!

LIVE! From MproTV: A Leasing @ Current Market Rents Special Feature!

If you’re a Leasing Professional, when your phone rings it’s probably a resident or a potential resident calling. Statistically speaking, four out of five first contacts come to us as phone calls, and four out of five signed leases start off that way. In plain language, this means that how well you handle every call has an overwhelming impact on your closing ratio … MORE of an impact than how you handle any other first contact with a potential customer. And even if you think you already have a great handle on phone skills, consider that today’s caller has access to a full array of added technology options thanks to smartphones, changing the game when it comes to what’s possible when that first phone call occurs.

So how might your telephone-to-traffic-and ultimately your closing ratio-be affected if you got better and smarter at turning calls into visits with less lost opportunities, and taking full advantage of all the new possibilities out there that can give you a killer competitive edge?  How much more effective could every tour be if it’s built on a flawless first impression and a phone experience that has already set you head and shoulders above the competition?  The answer is that your closing ratio can SKYROCKET, and your presentations can be out-of-this-world successful … if you just know how to use the telephone with every advantage available to you today!

Join us for this FREE Special Feature, led by two of our industry’s most renowned leasing experts, Toni Blake and Tami Siewruk.

YOU WILL:

  • Engage your telephone customer with a new series of high-powered telephone interview questions, strategies and tools designed to convert telephone calls to leases.
  • Make best use of technology to communicate with GenY and other tech-savvy consumers through links, photos, videos, and other informative online resources.
  • Discover and use fantastic visual tools including areal maps, walkscores, and local Facebook fan pages that create an unforgettable telephone presentation.
  • And more!

Spend just one hour with two of our industry’s top leasing experts and gain a new set of innovative, career-changing skills and techniques that are proven to increase revenue and put YOU and YOUR COMMUNITY at the top of the shopping list! Register now, FREE, gather the Leasing Team together to watch this LIVE presentation, then watch the closing ratios soar!

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Write On Our Wall and WIN!

The spirit of graffiti is alive and well on Facebook, so release your inner tagger and get ready for awesome new weekly contests to WIN all kinds of fun things including FREE registration to one of our Premium Subscription shows like Leasing @ Current Market Rents with Toni Blake and Tami Siewruk; Everything Everyday! with Jackie Ramstedt, and more! Here’s how:

  1. Click the link below to visit our Facebook page. Once you’re there, click “Like” to become a member of the MproTV community and receive invitations to play along with our contest weekly. The contest theme and prizes will change each week, so get ready to have some fun!
  2. Each time a new contest is announced, just go to our page and write your response on our wall!
  3. Every Monday, we’ll choose a winner from the previous week’s entries to be announced along with the next contest!

Click Here Then Click “Like” So You Can Write On Our Wall and Win!

Find us on Facebook

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Watch The Retention Report!

The most effective thing you can do to keep your efforts on track is to safeguard your most valuable investment: the customers you already have. That’s why we’ve devoted an entire show to just this aspect of the way we do business today.

In each episode, you’ll hear about another important factor that you should address and improve in order to keep residents happy and renewing! REGISTER NOW to watch FREE on MultifamilyproTV!

  • Dates: Third Thursday of every month starting March 17th
  • Time: Noon EST, 1:00 pm Central, 2:00 pm MST and 3:00 pm PST
  • Register: The Retention Report
  • Level: Intermediate to Advanced
  • Length: 30 minutes

Register Here

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Leasing @ Current Market Rents!

What would you say if we told you that you can learn how to lease without concessions, personally, from two of our industry’s most experienced authorities on leasing? Thanks to MultifamilyproTV, you can! Join none other than Toni Blake and Tami Siewruk, right on your own computer or smart phone screen, for as little as $25 per lesson for your entire team! We’re talking years of combined leasing knowledge and real life experience delivered straight to you.

Never has such experienced and targeted learning been so fast, easy, and affordable, or the return on investment for your career and community been so huge!

IN 12 ONE-HOUR EPISODES, YOU WILL:

  • Learn how to Lease without concessions @ fair market rents, right from your own computer or smartphone screen for as little as $24.83 an episode!
  • Establish a solid foundation of skills that will have you closing more leases immediately.
  • Build trust and exude credibility for stronger and more profitable relationships with your future residents.
  • Learn hundreds of leasing tips, tactics, strategies and techniques that are guaranteed to attract today’s consumer’s and work in today’s market conditions.
  • Lease smart and with unmistakable confidence … at Fair Market Rents … using more than 237 tools!
  • Celebrate a measurable increase in your lead to traffic and closing ratios.
  • Replace frustration with continual inspiration!
  • Master the best practices of leasing to reach your goals and set the bar higher … far beyond what you previously thought possible!
  • Fall in love with how great it feels to lease confidently and skillfully without incentives and concessions!
  • Click Here for complete program details!

AND IT’S GUARANTEED!*

If your confidence and closing ratio have not increased after viewing all 12 episodes and completing and passing the associated tests and follow-up exercises, we’ll refund 100% of your subscription fee for this series! You have nothing to lose and Perfectly Optimized Performance to gain!

Register Here

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Live TV for Multifamily Professionals

The First Internet TV Network Exclusively for Multifamily Professionals

Multifamilypro announces a revolutionary new way for Multifamily Professionals to receive the information and insight they need to become more effective and successful in all of the major disciplines of our business including: Finance, development, leasing, marketing, management, operations, service, training, technology, and human resources, at every organizational level. The station is based online at http://www.multifamilyprotv.com

MultifamilyproTV is a combination of both sponsor-supported free programming and pay-per-view training opportunities, all of which can be viewed from the convenience of a computer screen or smart phone.  The lineup of Multifamily-specific programming includes shows devoted to industry news, market conditions, trends, technology (including new media), and much more, in formats ranging from fast-paced talk show to in-depth, instructional-style delivery; and show hosts include some of the most experienced and insightful “stars” in the business with the likes of, Toni Blake (www.TotallyToni.com), Jackie Ramstedt (www.JackieRamstedt.com), Charity Hisle (www.sociallyengagedmarketing.com) Dawn Ford (www.smartapartmentsolutions.com), Lori Snider (www.lorisnider.com), Anne Sadovsky (www.annesadovsky.com) , Doug Chasick ,Cathy Macaione ( www.CMADirect.com); Multifamilypro’s own Tami Siewruk and many more are in production.

“This is needed in the industry right now, and has been for the longest time; the technology is finally here to give every single multifamily professional out there access to invaluable training and ongoing education, not to mention constant, late-breaking information and insight about what’s going on in the whole industry. The fact that they can get this kind of information and access to the world of their chosen profession so far beyond the boundaries of their own company or community—at little to no cost—is astounding. We are offering an opportunity for everyone in the industry to learn from and share with people they may never come in contact with otherwise. Making MProTV happen is a highlight in my career that’s going to be tough to surpass,” says Tami Siewruk. “The programming is a huge value to companies and communities that can have an unlimited number of viewers watching at a single site and give their teams the benefit of learning from experts they might not have been able to otherwise afford, without the need for travel or exclusively booking a speaker. The implications are enormous.”

Founded in 1989, Multifamilypro is an industry leader in providing Apartment Professionals with tools, resources, and knowledge to improve productivity and profitability. The company offers a wide range of information, products, and services designed to empower and educate Apartment Professionals through its websites at Multifamilypro.com, ApartmentProfessionals.com, and the acclaimed Annual Multifamily Housing Brainstorming Sessions, Executive Brainstorming Sessions, Brainstorming Tour for Onsite Professionals, and the forthcoming Principal’s Sessions.

MproTV, The Brainstorming Sessions, and Executive Brainstorming Sessions are trademarks of Multifamilypro in the United States and/or other countries.

For more information, press only: Tami L. Siewruk, 727-784-9469, Tami@Multifamilypro.com.

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