PropertyManagementMaven: July 2008

Leasing is a PROCESS, not an EVENT....

I recently wrote a blog and a client newsletter article about the leasing process.  Many property owner/clients think it is an EVENT * SHOW & LEASE.....in actuality, it is a PROCESS and the SHOWING, while important, is often not even in the process.....sometime residents rent sight-unseen so the web marketing portion of the process is VERY IMPORTANT.  Sometime residents look at one property and then rent another in the same area when they see what is available within their pricerange.

It is important to have all parts of the process covered so that good prospects don't get away or go elsewhere. 

Pricing the property correctly is the first step; getting good marketing materials/photograps and property features are crucial for web marketing;  showing availability is important and the application and lease forms are SUPER important....many owners think that good residents just walk in the door.

I am mentoring 2 friends in their foray into the property management business...I've gone on showing appointments with the newbie PM....he is SO busy pointing out features of the property that he forgets to listen to the prospects.  On the drive back to the office I asked him what he knew about these people he had just showed the unit to and he indicated he did not know anything since they had yet to submit an application....I told him where they were coming from, who their new employer is and that they have to sell their home where they live now....He knew none of this.

Paying attention through all steps of the process gets a win-win for the PM/property owner and resident.

 

 

 Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans


"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Comment balloon 0 commentsWallace S. Gibson, CPM • July 28 2008 12:26PM
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