There are certain months during the year when comparatively more people are seeking to rent suitable apartments. During these months, property management will encounter more prospects visiting the property, and there might be existing tenants wanting to renew their leases. Therefore, property management should implement a two-pronged strategy of keeping the property ready for visiting prospects, and committing resources for encouraging renewal of lease from existing tenants.
During this crucial time property owners, administrative staff, and the property management team should work collectively to meet the set or ingrained goals.
Maintenance and Repairs
The first step would be to check for potential issues in maintenance and getting them serviced or repaired. This could present an excellent opportunity to interact with your tenants, build better rapport, and retain outstanding tenants. Here are certain points for implementing maintenance checks:
- Most maintenance issues are to do with plumbing. Hence, inspect tubs and sinks, and check for dripping or leaking faucets. Visually inspect plumbing fixtures for rotting gaskets and leaks.
- Inspect doors and windows to check the caulk and weather stripping. If it is worn out or causing leaks, immediately repair the issue.
- Fire protection devices such as smoke alarms should be tested and their batteries should be replaced.
- Air-conditioning system is another major area where various issues are possible. Before the onset of warm season, test the air-conditioning in each unit.
- Check for any signs of possible mold, fungus, or pests, and take necessary measures to prevent an infestation.
- Check the overall structural integrity of the building, roofing, and the condition of the common areas.
While proper maintenance and repairs will mostly take care of tenant retention, offering streamlined online solutions for rental processes will attract new tenants. Many communities are taking advantages of technological advances and now offering better online solutions for rental processes. It is not just about providing the virtual capability of paying the rent online, but the complete process.
Modern tenants are looking for e-applications, and other online methods that are convenient and help save time. Approval methods involving paper processing may not be appreciated by most people, since there are quicker and more convenient ways of doing these things now. Hence, offer a complete solution to prospects, where most of the things are taken care of online.
Take Care of Your Team
Whether it is on-site or off-site maintenance team, the administrative staff, or the property manager, they all should be adequately trained and prepared before the onset of leasing season. Review equipment, supplies, tools, and make sure adequate staff is available to meet any type of situation. Consider, extended work hours during the leasing season, since you never know when you will need personnel for additional work. This would be an extra investment, but a well thought of strategy for having more staff on the premises during these times could pay off well.
Lastly, property management should keep in mind that first impressions count a lot, and therefore before the start of the leasing season it would be a marvelous time to upgrade or update the property website and social media pages.