Posted by Mitchell Vinnitsky

5 Proactive Tips for a Profitable Leasing Season

The timing of leasing season may vary based on where your properties are located, but regardless of when it falls, it’s something your team must be adequately prepared for. Being proactive and planning ahead can help ensure that you don’t leave any money on the table. Let’s take a look at a few of the important tasks that should be done before leasing season begins.

Prepare Your Team

Make sure that you’ve got all-hands-on-deck well in advance of leasing season. If you’re currently short staffed, now would be the time to aggressively recruit so you can fill those open positions as soon as possible. If you can’t afford to increase your headcount, consider cross-training existing employees. And make sure that all employees have access to the tools and technology they need. The goal is to have everyone ramped up and ready to go on day one.

Be Ready to Impress

According to a recent survey by the National Multifamily Housing Council, 51% of renters list the overall appearance of a property as a factor in deciding whether to lease a home or apartment. Be prepared to put your best foot forward by sprucing up your properties and making any necessary repairs and improvements you may have been putting off. Make sure everything is deep cleaned and visually appealing. This applies to the exterior as well. If you’ve been considering adding some new amenities to your properties, the time to do so is now so you can make a solid first impression.

Prepare and Optimize Listings

Before your applicants even step foot into one of your properties, they’ll likely learn about them through your online listings. To ensure optimal results, be sure those listings are clear and detailed. Include as many high quality pictures as possible. If you have certain requirements, such as a no pet policy, make sure that is explicitly stated within your property description. Highlight the most sought-after features and amenities to help your listings stand out and get noticed. Determine where you will be listing your vacancies and be ready to do so once the time comes.

Leverage Technology

Thanks to rapid advancements in technology, you can now make the leasing process much easier and more convenient for everyone. If you haven’t already done so, start investing in various tech tools, like leasing software, online payment portals and video conferencing apps. Get your team up to speed on how to use these platforms so that they’ll be ready to put them to use. Some things you can do to improve the leasing process include virtual showings and easy online lease processing.

Review and Streamline Your Processes

Before the chaos of the leasing season begins, it’s a good idea to run through all of your processes, including how you accept applications, as well as how you screen candidates. You’ll want to make sure that the systems you have in place deliver a seamless, positive and user-friendly experience to applicants. You’ll also want to make sure you’re adequately weeding out potential bad apples as efficiently as possible. Run through the process step-by-step and if you find any issues, correct them.

Planning ahead can help make your leasing season more profitable. The five tips above should help get you and your team prepared to hit the ground running and make this leasing season the best one yet!

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