Multifamily Leasing Annual “Spring into Spring” Season Checklist!

By Tami Siewruk

The Prime Multifamily Leasing Season is about to “spring” forth, and it’s time to ask yourself if you’re prepared!  Here are a few tips and ideas to help you get started:

1. Update your models. Ensure effective multifamily leasing by making certain that your models are hitting your target market, and have a fresh look.
2. Invite the competition to lunch or breakfast. Yes, I’m serious.  Exchange floor plans, rental values, and occupancy rates and so on.
3. Audit your Marketing and Resident Retention efforts. What worked, what didn’t, and why?
4. Audit your Service Requests to determine chronic problems. What chronic problems did you overcome, and how? Which keep coming back, and why?
5. Start a comprehensive resident profile. If you already have one, then take the time to update it.
6. Plan a full year of resident activities. Think of this as a new source of residents
7. Improve your Lease Renewal Strategies. Remember that it’s more cost effective to keep the residents you have than to gain new ones.
8. Increase Closing Ratios. Polish your multifamily leasing strategy and closing techniques.
9. Reward Employees that contribute new ideas. They’re the life-blood of your success!

10. Focus on obtaining 50% of your new residents from referrals. You already have great residents, and they can help you find more just like them!

11. Use all correspondence as a marketing tool. View each and every piece of written correspondence that leaves your office as part of your marketing strategy. Yes Emails and text count as correspondence.

12. Become active in your local Multifamily Council or Association. Connections count – and yield positive results all year long!

13. Plan to attend at least two educational programs during the year. Keep yourself on the cutting edge!

15. Complete a Competitors Marketing Audit.

16.  Have the entire leasing team shopped. Yes, all of your multifamily leasing staff, and provide the training needed to freshen skills.

17. Plan to draw new attention to your community.

18. Make a splash! Flower season is on the way, so make the most of it!

19. Review your rental structure and qualifying criteria.

20. Plan a corporate marketing call promotion. Provide food items for local employee break rooms. One of our communities recently provided apples and oranges one week, apples and pears the next, and so on to promote the community as “Incomparable!”

21. Wake up the locators! Start a locator’s newsletter and launch a special promotion to renew their interest in your community.