PEAK Leasing Season is the time of year when the highest number of renters are looking for a new rental property (Collatz, 2018). Per a previous AFI blog post, we know that over 40 million Americans move each year with more than half of these moves occurring in the summer months!
With approximately 34,000 apartment complexes per state (Reonomy.com) Onsite Teams cannot expect the influx in potential applicants to directly correlate to increased traffic/performance. Managers must work diligently to ensure that their community stands out from the rest and attracts the most prospective renters!
In need of a “Lease-Up” this summer? Check out these helpful tips from MarketApartments.com (Housel, 2021):
- Develop Your Goals – Management Teams should work together to establish realistic milestones for the next 30, 60, and 90 days (at minimum).
- Utilize 3D Floorplans – With an ever-growing focus on remote accessibility, these detailed depictions can provide a convenient means for prospective residents to gain a full experience.
- Update Your Local Listings – Create and manage your brand through outlets such as Google My Business, Yelp, Apartments.com, etc.
- Involve Local Businesses – Spread the word! Build connections with the individuals and workplaces around your property that can start to give positive endorsements.
- Start a Referral Program – How many of your current or soon-to-be renters know others that may also be looking for an apartment?
AFI recently took over management operations of a new construction project on the East-Coast and have had to put these tools, as well as many others, to the test right away. With the first eight units coming online July 1st, 2021, our Onsite Manager had over 25 approved applications within the first week of advertising! The only acceptable standard will be to have all units pre-leased BEFORE they come online!
Collatz, Andrea. “The Best Time to List Your Rental Property.” www.SmartMove.com, 11 Aug. 2018, www.mysmartmove.com/SmartMove/blog/best-time-list-rental-property.page.
Housel, Isabella. “21 Apartment Lease-Up Marketing Ideas to Increase Occupancy.” www.MarketApartments.com, 25 Jan. 2021, www.marketapts.com/blog/21-apartment-lease-up-marketing-ideas-to-increase-occupancy/.
Reonomy.com, www.reonomy.com/properties/apartment-building/us/1. Accessed 9 June 2021.