You're struggling with low occupancy rates at a property. How can you attract new tenants effectively?
To increase occupancy, it's crucial to understand market needs and showcase your property's unique advantages. Here's how to attract new tenants:
How do you entice new tenants? Share your strategies.
You're struggling with low occupancy rates at a property. How can you attract new tenants effectively?
To increase occupancy, it's crucial to understand market needs and showcase your property's unique advantages. Here's how to attract new tenants:
How do you entice new tenants? Share your strategies.
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In my 27 years as a Multifamily Training Professional, the biggest opportunity was - and still IS - FOLLOW UP! As we enter a more competitive market than we've seen in several years, Leasing Consultants are going to have to be more pro-active than ever before in order to attract new, prospective residents. I highly recommend leveraging video solutions that create an EASY way to send personalized video via email, text, and CRM - that sets the community apart and draws the prospective residents in by making an emotional connection that only video can create. Follow up follow up follow up!
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I believe associating with renowned brands for leasing, facility management, and community management can significantly enhance a property's credibility and trustworthiness, which is key to attracting new tenants. By aligning with reputable names, we can ensure potential tenants feel confident about the quality and upkeep of the property. Additionally, branding the property as having a family-friendly atmosphere can be highly effective. Families often seek safe, well-maintained environments with amenities like parks, schools, and community events. This kind of branding helps differentiate the property and attract long-term tenants.
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Increasing occupancy rates starts with refining your market approach. Begin by creating a dynamic digital presence. Optimize your property’s website with high-quality images and virtual tours that highlight its amenities. Post listings on high-traffic rental platforms and share consistently on social media. To convert interest into occupancy, offer move-in discounts or flexible lease terms, especially for long-term commitments. Finally, organize open house events or virtual walkthroughs, allowing prospective tenants to experience the space firsthand and picture themselves calling it home.
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Get existing retail clients to reach out to other retail clients they have contacts with and encourage them to sell the property to these retailers as a good opportunity.
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Move-in specials and an online presence does help, but communication is key. Don't allow your prospects to wait too long for a response or they will move on to the next property. Positive human interaction closes the deal.
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