Monthly Archives

November 2021

Two Secrets to the Overall Success of Your Apartment Community

By Leadership & Management: Developing Your Onsite Teams

Working in the multifamily leasing industry is all about the customer experience and this should be your central focus in your day-to-day endeavors. Your community is much like a small city with long-timers as well as new people moving in. Helping to take care of and solve resident concerns can be rewarding and resolving resident issues should make you feel accomplished and satisfied. Let’s explore two secrets to the overall success of your apartment community.

  • Property Management Teams – Your onsite team is the key to providing real value to the community. The personality of the community and the overall environment created by the apartment leasing team is what will set you apart for your residents.
  • Dynamic Business – Operating your community as a dynamic business will create and maintain the allure. Working to consistently offer new initiatives and events will invigorate your apartment leasing team and residents alike.

To successfully pursue these secrets to the overall success of your apartment community, you must understand how to manage your basic “to-do” list as an apartment leasing team professional. Your busy day includes:

  • Rent Collection
  • Maintenance Requests
  • Exterior Curb Appeal
  • Financial Management
  • Customer Experience
  • Organizational Communications
  • Leasing

Apart from these basic daily tasks, what can you add to enhance the overall success of your apartment community through your roles as an apartment leasing team?

  • Initiatives – Always look for ways your community and organization can improve and create initiatives to help everyone reach these goals
  • Positive Energy – Multifamily is not a static business! Everyone should strive to maintain a positive energy to help drive yourself and your apartment leasing team towards success.
  • Job Satisfaction – Explore opportunities to create an environment that allows everyone to enjoy coming to work and being a part of the team.
  • Healthy Competition – Challenge yourself and your apartment leasing team to help develop and grow.

When we discuss initiatives, there are multiple areas you and your apartment leasing team can focus on to drive the overall success of your apartment community. Some of those include:

  • Increasing Traffic
  • CRM Reporting
  • Brainstorming
  • Shop Scores
  • Weekly Goals
  • Competition

Another major secret to the overall success of your apartment community is your maintenance team. The maintenance team acts as ambassadors for the community; they’re out solving the residents’ problems in their homes. Consider the following points when fine-tuning your maintenance services:

  • Timely Service – Are there any processes that can be readied ahead of time?
  • Follow-Up Surveys – Be mindful of the post-service ticket follow-up scores and look for ways to improve.
  • Idea of the Month – Ask your maintenance team for ideas to solve problems and reward the best idea of the month.
  • Brainstorming – Encourage your maintenance team to work together and to feel comfortable asking one another for help or feedback.

Some organizations really rise above the rest and just knock it out of the park! Let’s explore the secrets to their overall success so we can model it and share in that success for our own team.

  • Forward Thinking – Be willing to think outside the box and try to do things differently when needed.
  • Being Flexible to New Approaches – Flexibility is crucial for success.
  • Decision-Making/Fast Track – Roll out changes and new processes fast enough to keep up with resident needs.
  • Disruption – Disruption can be a good thing and will drive a great organization to new and better things.
  • Team Members – The most successful organizations see their team like family.

When we consider the financial expectations or the overall success of your community, transparent communication is key.

  • Rental rates in many cities are amazing.
  • Clarity of expectation levels with ownership is important.
  • Seize the moment.
  • Every team member makes a difference.
  • Make sure your forecasts are accurate.
  • 2020 results did slow up continuing growth of NOI

After everything we’ve all been through in the last 2 years, really take a good look at your community, the curb appeal and the atmosphere created by your team. Is it time for a reset these using two secrets to the overall success of your apartment community?

Presented by:

 

 

Jeff Goldshine, CPM

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