Record Breaking Occupancy Rates....Is This Good News? (Property Management Industry)
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Record Breaking Occupancy Rates… Is This Good News? Webinar lead Amy Kosnikowski Dilis National Speaker & Industry Educa
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Transcript of Record Breaking Occupancy Rates....Is This Good News? (Property Management Industry)
Record Breaking Occupancy Rates…Is This Good News?
Webinar lead by
Amy Kosnikowski DilisioNational Speaker & Industry Educator
AppFolio
Complete Solution Includes:
Web-Based Property Management Software
•Property management and accounting
•Online rent collection (free)
•Prospect / guest card tracking
•Marketing
•Website
•Payment processing
•Online applications
•Resident Screening
So You Run A More Successful Business
Quintessential Marketing & Training National Speaker, Industry Educator, Consultant & Marketing Strategist
Email: [email protected] Telephone: 704.846.8210
Website: www.TheQstandard.com
Facebook: Quintessential Marketing & Training & Amy Kosnikowski Dilisio
LinkedIn: Amy Kosnikowski Dilisio
For over 24 years, Amy has been a proven leader in sales, leasing, management and marketing real estate assets. Amy began her career onsite as a leasing professional and then quickly advanced to the executive level as Director of Marketing & Training with Summit Properties and Oakwood Worldwide. Based out of Charlotte, North Carolina, Amy serves as the principal of Quintessential Marketing & Training, a consulting firm known for innovative marketing solutions, strategic consulting services and unforgettable education sessions.
Amy Kosnikowski Dilisio
Sustain Current SuccessBe Proactive To Find Opportunities
Take Inventory NowEnsure All Operating at Optimal Levels
• Resident Retention• Marketing• Enhance to Compete• Lead Management
Today’s Webinar
“If you relax, you will rust.” - Helen Hayes
MARKET STATUS
Source: Axiometrics
Polling Question 1: With occupancy at all-time high rates- Has the onsitefocus shifted to resident retention efforts?
I. RESIDENT RETENTION
Most cost effective way to maintain high occupancy & experience rent growth
Less apartments to rent = Lower costs & expenses
Value What They ValueIncrease expectationsReminders of WorthRetain & Maintain
How Residents Define Value What Impacts Perception of Value
The Top Topics That Impact Perception of Value
1. “Sense of community“ felt among residents and staff2. Appearance & condition of apartment & exteriors3. Level of safety and security at community4. Responsiveness & dependability of office staff
Based on collaborative study by SatisFacts and Ball State University
How Residents Define Value
Key Takeaways: Increase Retention • Communication Is Key• Consistent care• Proactive Preventive Maintenance
How is your focus on retention? Personalized Service
Quality CareRapid Response
Polling Question 2: Do you have a current marketing plan for your community or entire portfolio?
II. MARKETINGThe process and tools that assist in finding
customers, capturing their attention, promoting to them and keeping them as customers.
To attract qualified customers who lease at market rent staying for a long term which
improves the bottom line and increasing the value of the real estate asset.
Goal of Marketing:
74% of businesses do not have a marketing plan or clear direction.
Top Reasons: 1. Don’t Know Where To Start, 2. Not Enough Time
Source: Connect Marketing
Failing to plan is planning to fail
Property Manager Leads The Plan
Marketing Plan: How To Get Started
Marketing Plan: How To Get Started• Goal & Objectives• Market Research• Strategy• Action Plan & Steps
EVALUATE & REALIGN1. Current Target Market2. Maximizing Top Sources
Who is the current customer?
• What was the appeal?• Motives?• Trends?• Interests?
Enhance Marketing Message In Effective Sources
WIIFM Mentality
Enhance Marketing Message In Effective Sources
How does the product benefit their lifestyle?Where do they turn to for information?
What would be appealing to them?
Adjust MessageThen: Luxury Living Now: Enjoy Flexibility & Freedom
Lease Your Home. Live Your Life.Buy Later. Live Now.
Polling Question 3: Are plans set to update amenity and service offerings to compete with new product?
III. ENHANCE AMENITY & SERVICES
How Do You Stack Up Against Competitors?
Uniqueness? Advantages? Disadvantages?
“Resident Lifestyle Preferences: An Insight”
Source: J Turner27,642 surveyed
Green Living & Eco-Consciousness
Health & Fitness
44% work out 3 times a week
Membership quality gym and fitness classes
Open 24 hours with a variety of exercise
machines & classes
Entertaining
38% resident entertain onsite at least 3 times a month42% cook daily25% grill out at least 3 times a month
Flex Clubroom & Cyber Cafes
Gathering spaces
Outside gathering spaces
Location & Neighborhood Needs
73% grocery
68% restaurants
41% stores
Other Amenities To Consider
Fancy Services For Fido
Team Up To Offer Services
Dog Washing Stations
To Upgrade? Maintain Quality?
Polling Question 4: For today’s savvy renter- what are the best practices for leasing teams to convert a lead to a lease?
IV. LEAD MANAGEMENT
The Leasing Process
Leasing Expectations & GoalsOffer Appointment To All
50% Show 40% Closing Ratio
A Customized & Engaging Experience
Polling Question 5: What is the best method to create urgency with a potential renter to lease quicker?
SENSE OF URGENCY
The Leasing Team Creates The Sense of Urgency
How To Generate Urgency
Tailor To Needs + Benefits
Move the process forward statements“I only have one available in your preferred style. Can you
come by this afternoon at 2:00 to come take a look?”
“It sounds as if you are ready to move forward to reserve your apartment home. Good thing- it is the only one available! Let’s
go ahead and get the paperwork started.”
Apply Strategies For A Positive Change
Challenge Check List Areas of improvement to enhance resident retention?Valuing the areas the resident’s perceive as valuable? Develop or update current marketing planEvaluate the top marketing sources Ensure the marketing message, sources and leasing
techniques are aligned with current target marketComparison to competitor's amenities and services? Is the lead management system effective with
responses, sense of urgency, strong closing and follow up program?
The Year of the Apartment
Keep MovingStrive For Better Performance
Customize to make it work for each team. Where will you start?
Record Breaking Occupancy Rates…Is This Good News?
Webinar lead by
Amy Kosnikowski DilisioNational Speaker & Industry Educator
