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Anne Sadovsky Presents:

Anne Sadovsky Presents:. Site Management Survival Tactics: How to Pocket an Extra $100,000. Your Residents… Why is it Important to Keep Them?. Make a list:. 1. 2. 3. 4. 5. 6. It costs 5 times more to get a new resident than to keep the one you’ve got!!!.

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Anne Sadovsky Presents:

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  1. Anne Sadovsky Presents: Site Management Survival Tactics: How to Pocket an Extra $100,000

  2. Your Residents…Why is it Important to Keep Them?

  3. Make a list: • 1. • 2. • 3. • 4. • 5. • 6.

  4. It costs 5 times more to get a new resident than to keep the one you’ve got!!! • Begin by choosing the right residents in the first place… • When the market is strong…… • But when it is soft……..

  5. Don’t Shoot Yourself in the Foot • The application process • You could lease only to redheads…criteria for leasing…take a new look • Criminal check

  6. Give all the facts to all the folks • Occupancy standards • Fair Housing and kids • Pets / animals • Lease term options • Technology – satellite dishes, high speed access, on line rent paying, credit cards

  7. Important tips: • Reword your “rules” into community policies • Nowhere is ‘secure’…watch what you imply • Successful Service Request…add what the cost would be if they had to pay

  8. Who is Your Biggest Competitor • If they buy they lose: • Mobility • Flexibility • Recreation / social activities • Maintenance / customer service • You!

  9. Create a Rent VS Buy Campaign • www.nmhc.org • Condo conversions • Use the one sheet

  10. Ritchie Renter and Henry Homeowner • Use a little humor to make a point • Put in on your website • Publish a column in your newsletter on the benefits of renting • Get sold yourself

  11. Ritchie Renter Henry Homeowner “Lonely? How can you be lonely? My apartments “None of my neighbors even speak.” have parties where I meet lots of people!” “Hey, let’s go camping this weekend!” “I can’t. I have to mow the grass and pull the weeds. We both got a bonus, let’s take a vacation. I have to buy a new hot water heater!

  12. Can You Identify with this Story? • Or does this sound more familiar? • Why customers quit: • 1% die • 3% move away • 5% buy from or through friends • 9% competition takes them away • 14% product dissatisfaction • 68% perceive employee indifference

  13. Renters evaluate us • 1 Reliability • 2 Responsiveness • 3 Assurance • 4 Empathy • 5 Tangibles

  14. Dealing with Difficult People • Don’t React • Disarm them • Change the game • Use magic words • Every Resident should be a public relations spokesperson for your community

  15. For Service Success • The resident is not your enemy… • Develop your people skills • Understand / survey the customer…ask questions • Be available and remember names • Think ‘win-win’

  16. Develop a Plan • Move in day…welcome gift • Birthday card / email • Regular communication • Budget for renewal gifts / incentives

  17. Move-in day Welcome Gift & Card in apartment. Printed brown “grocery” bag—toilet paper, paper towels, correct picture hangers, small hammer. $10 -or- Shallow basket, dry pasta, jar pasta sauce, bread sticks (individually wrapped), soft drink/ water (big bottles), 4 paper napkins, 4 plastic forks, paper tablecloth, 4 chocolate mints, welcome card—“Dinner’s on us your first night home.” $15 *Get birthday (not year) and set up in computer to send birthday card on that day 1st Week Welcome Letter and Survey with follow-up call from the Manager. 3rd Week Brief letter from Maintenance with blank Service Request forms (or reminder of where to e-mail Service Requests) and reminder of Resident Referral Fee*. *We will advise how to work around the Res. Ref. Fee restrictions (contract labor). 60 Days (2 months) after move in Check file/ computer for Service Requests; if none or few, send note/ call. 4th Month Check for rent payment habits and Service Requests, if good, ask resident/s for their opinion and testimonial (to use in 3rd party promotions of property). 5th Month Send a “We Appreciate You” Gift—a mug of candy or popcorn pack with movie tickets (or video rental coupons) with letter “This is your home…” 7th Month Send Address Labels printed with their name and apartment number. 9th Month Rent vs. Buy one sheet. 10th Month “Invitation” to stay / renew with High Cost Of Moving one sheet. 11th Month Renewal Bonus menu (non-cash, non-rent) from which resident/s may choose. $300 Also, a personal telephone call.

  18. What Will You Do to Get them to Stay • Carpet Cleaning,Painting,Make ready cleaning & maintenance,Replace Counter Top,One appliance,Add Ceiling Fan,Incentive/new renter, 1 monthAdvertising (pro rata- share),Leasing Bonus,Locator Fee,Loss to 2 weeks Vacancy, Utilities…. Add whatever else you think of…Average $2,500

  19. What if? • $300 ‘Renewal bonus’ • Non cash, non rent, non refundable • Menu: • Paint….$200 or spot paint $75 • Appliance $300 • Cleaning Service $150 • Microwave $100 • Ceiling Fan $75 • Hard surface floor replacement $150

  20. Use a High Cost of Moving Sheet • New deposit $300 • Pet deposit $300 • Utilities $150 • Redecorate $250 • Incidentals $100 • First Months Rent $750 • Application Fee $35 • Moving Van $500 • Groceries $200 $2,585. cash up front

  21. Make a list of 3 things you’ll use from today’s sessions • 1. • 2. • 3

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