In today’s extremely competitive apartment and multifamily housing markets, having any advantage over other apartment communities and rental properties is useful. One of the most important tools that a portfolio can have to ensure that stay one step ahead is a strong property management team.
According to a study by Leasing University, the caliber of the property manager, leasing agent or leasing consultant, is the most important factor influencing prospects’ decisions to rent the apartment. It is extremely important that your property and portfolio is making the right training investments.
A trained property management team can generate occupancy beyond what the owners and investors forecast. Leasing an apartment community ahead of schedule and under-budget can lead to massive returns for the property owners and investors. The better trained your property management team is, the better results for your entire portfolio. Use the following
Leasing University System and property manager training insights to make your leasing team stronger.
- Property Management Training enhances the person-to-person connection which is necessary to rent your apartments. According to Leasing University 81 percent of people base their apartment decisions on trust and believability. All property managers need to thoroughly understand their renters wants and needs while also being able to communicate to that prospect what the benefits of living in this apartment and at this community are so that they can truly connect with the renter and build that necessary trust in order to lease the apartment.
- Look for property management training courses that will enable your people to build a solid connection with each and every renter and tailor the tour to their needs and wants in a new apartment so that the lease is signed in a win-win situation, allowing the renter to move into the apartment feeling understood.
- Communication skills are essential in property management because property managers must ensure that understand the total value of the apartment and the community. Effective communication skills successfully connect people and will increase both the chances of getting the lease and the renewal year-after-year.
- Most of the training available today is outdated, ineffective and in many cases, hurts the property managers chances of renting the apartment. Property management professionals must learn how to recognize what techniques and strategies are not helping them get the leases they had hoped for. Leasing University is current, real-world training that puts your leasing team in the best position to win the lease.
Remember that your property managers are a direct reflection on your apartment community and your portfolio. Continued education is critical to the success of your property management team and should be provided as often as possible. Make sure that you are pushing your property management team outside of their comfort zones. According to Leasing University only 3% of renters feel the property manager did an excellent job of understanding their wants and needs and sold them on the apartment in a way that made the most sense to them
Are you ready to get the right training to lease your apartments ahead of schedule and under budget?