Apartment Leasing
Best kept Apartment Leasing Secret
This ranks up there with answering lead medium whatever they may be (telephone, text message, facebook post, email, etc..) following up and asking for the sale:
My Apartment Leasing Experience
My current lease ends at the end of September, so I spent the last month doing the usual research: searching Craigslist, calling apartment management companies to inquire about their current availability and driving through the area where I want to live looking for For Rent signs.
The main issue with my search is that my criteria were very narrow: I was looking for a 2nd floor in a specific area with a small price range to work with. Because of this, there weren’t too many options, ultimately leading me to Red Brick Management, the management company that owns/manages a large chunk of the real estate in my neighborhood.
Being that I work in the apartment management industry and have rented more than a few apartments in my day, I have certain expectations about how I think the leasing process should run.
1. Friendly and Welcoming:
It’s not that they weren’t, it’s just the first time I can remember not being walked through an apartment with a member from the office, which I find to be somewhat unfriendly and impersonal. Given the choice, I’d prefer to be given a tour, not just an address and a set of keys.
2. Professional and courteous:
Instead of a tour through their available apartments, I got a set of keys, signed a waiver stating I would not damage anything in the apartment, that I would be responsible for locking the door behind me and that I would be back before they close. Shouldn’t I be getting the paycheck…I mean didn’t I do all the work?
3. Timely
I will say they were timely with my application process. In fact, they were very timely, running my application and approving me before I ever even submitted my income verification. On the other hand, on my “tour”, there were 3 or 4 maintenance repairs not yet completed with little post-it notes next to them that read: “This will be completed.” Since I already paid all my move-in fees, all I can do is hope that the maintenance will be as timely as the application process.
4. Smooth and Easy
From the first phone call or e-mail to the lease signing, the process should be 100% easy for the prospect. I think it is easy to fall short on this, as there are many steps to the leasing process and prospects have lives outside of leasing and have to fit within “normal office hours” when getting things done (unless the whole process can be done online). Red Brick is open on Saturday, which is convenient. They also allow credit card payments for application fees and deposits and their application is very simple, only taking a couple minutes. Overall, the application process went pretty smoothly and was very easy for me.
Now I’m not through the whole leasing process yet, and they did mention to me that they only allow lease signings a couple days a week (neither of which is Saturday), and that is not convenient.
I think the takeaway here is ultimately quality customer service. In my case, there weren’t a lot of options, but we all know that’s not usually the case. How the prospects feel treated and how easy we make the process for them is usually what makes or breaks a lease.
If this had been your experience, would you have rented?
Rented an Apartment Lately?
When was the last time you went out and secured a lease on a new apartment?
How Do They Feel?
I think it should be standard issue that every single person that works for your company goes out and leases an apartment, soup to nuts – President to Porter. Not a secret shop – call is a secret rent an apartment experience or what you will. This is real-time. Lease one from your very own portfolio and lease one from your closest comp. I am talking the whole nine yards. Go through the process of searching online, pick up a magazine, drive by or ask a friend. Choose a community or two to visit, walk in and go through the process. Have your checkbook or money order in hand and lay down a deposit. That is if you like how you feel.
Who is They?
So to answer the question above – they is the people who are walking through your door every day of the week. And, understanding how they feel should be top of mind, tip of tongue and everything you think about, dream about and are about. And what better time to get that feeling than now. The only way you can truly serve the people who serve you (monthly rent checks) is to really get in their shoes. Really understand the process they go through. Really understand how they feel. Now that sounds like a challenge.
First One is on Me
If you work with me at Mills and you are reading this post – I will pay the deposit and the app fee for your first secret rent an apartment experience in exchange for the lessons you learn. That is to imply that you have to come back and do a guest post for me detailing what you liked, disliked and what you will change about your business as a result of the experience.
Hit me with a comment below and we will make the arrangements.
Your looking forward to how you make them feel multifamily maniac,
M
Selling – One for All Apartment Professionals
Apartment friends and family, it is no secret that selling starts with the ability to love yourself. If you don’t love yourself then you haven’t the slightest chance of getting anyone to love you back. And, in my head, getting people to fall in love with you first and your content second is the master-key to riches when it comes to selling.
Master Key to Riches in Four Steps
1. Love your heart [Read: Stay away from those that would bring you down. And, get real close to those who amp you up].
2. Love your mind [Read: Think well enough of yourself to read literature that makes you think deeply. Talk to people who challenge your intellect and blow you away].
3. Love your body [Read: Eat well and exercise regularly].
4. Love your soul [Read: Find purpose. Find meaning. Find mindfulness. Find that deeper meaning that amps you. Find that deeper meaning that gives cause for you to wake without the aid of an alarm despite the early hour. Find that thing that keeps you on task and in motion despite any and all setbacks].
Bonus Step: Get clear on the definition of riches. Hint: It has nothing to do with money.
Your – in constant practice of the four steps – multifamily maniac,
M
Selling Apartments: The Six Must Haves
Selling
Selling apartments is an art and it is not for everyone. If you think about it, most sales people hear no, we will get back to you, we were just checking the price, we are not ready to commit, we – we – we – we…
The fail rate in selling is off the charts so it takes someone with a thick skin and a constant willing to go after it which brings me to a quick story before we list the six must haves. One of my real estate mentors told me that early in his selling career, he would go door to door trying to get people to buy his service. He would knock, give the pitch, communicate the features and benefits and wait for the answer. And, if the answer was no – he walked the end of the driveway – jumped in the air and when he landed – he would give a simultaneous fist pump and ‘yes’ shout.
Yes – he was excited that his attempt at selling failed in a sense. When I asked him for the punch line – he looked at me steely eyed and said, “Mike, for every no I heard, I knew I was that much closer to a yes.” I am certain that at the tender age of 23 – I exerted one of the smarty pants – really!? remarks. But, he was dead serious. And, I know that it worked for him as he was the hands down, award laden, captain master of the real estate sales world. At least in our small town. When I think of the six must haves I can’t help but to think Bob was the master of all them.
Solution
Start with the end in mind. You are selling a solution to a problem that someone has when they email, tweet, comment in the way of, text, call you on the phone or walk in your front door. Discern their interest and desires and marry up your best solution.
Success
You must ooze success. Get your attitude right. Get the behavior right that back up that attitude. Dress the part. Talk the part. And, guess what you will experience success. Reason: people feel you as much as they hear you. Even the most analytical amongst us. They feel the frauds and they move on. Be the real deal, be the difference and people will buy you all day long.
Experience
Selling apartments should be an experience that gets talked about. From curb to commode you are an artist actor playing out a part in an award-winning real-time documentary. Your apartment selling is the feature of the film. Everything from curb to commode is the stage where you play out the acts of your selling. Make it a compelling one.
Dream Come True
Be the dream come true for the audience you are acting (Read: Real Deal) out for. When the time comes for the credits to role – expect a standing ovation for the fine work you have just demonstrated. Bask in the fact that you have just given the performance of a life time and the audience has no choice but to shower you with a – yes – yes – yes and one more yes for good measure.
Love
Love is what you are after. Love is what you get when you are part of the solutions for other people. I am not suggesting that love should be tied to task – but, it should be tied to a genuine need to help others without expecting anything in return. If you do what you do because you love it that screams loud and clear in your being and your actions. And, it makes others want to love you back through their actions. In this case – signing leases and moving in.
Dramatic Difference
One could posit that apartments are a commodity and selling them is just a ho-hum part of the routine. And, that might be right. But, not for you. In the end, you are the dramatic difference. You are the one that brings compelling to the table. You are the one that ‘brings the thunder’ as they say. You are the difference that makes a difference when it comes time for someone to say – yes.
My charge to you today – Go for the oscar every time you get a lead…
Your, promoting the six this week, multifamily manic
M
