Posts about Residential (2)

Today’s rental market is much more competitive than in the past. While it’s a property manager’s market, that doesn’t mean you can take your tenant leads for granted. Renters know they need to act quickly, and you need to get the best tenants possible. That means you don’t have the luxury of losing prospects to other rental properties. Quality tenant prospects are the first ones to go off the market, and it’s frustrating to lose top quality tenants to other properties. You can reduce the number of lost prospects if you know why tenants choose other properties over your own. Here are the top reasons we’ve discovered as we look at the data.

Another property just emptied and you need to fill it fast. You have your go-to websites to advertise your rental properties, but no way to know how much they’re helping you to attract prospective tenants. Could you get better results (and better tenants) from other rental websites? Are you getting the biggest bang for your buck from paid websites?

Apartment property managers are burning out from the pandemic, and that’s leaving their companies scrambling to hire during a labor shortage. When you’re in the midst of a labor shortage, hiring a property manager isn’t just another task to take care of — it’s essential to keep your business afloat. It can also be an overwhelming situation when the pressure is high.

Property management has always been a field with high employee turnover rates. Historically, they’ve been at a whopping 37 percent. But since the pandemic, those numbers have climbed even higher, and staffing has become a crisis situation among property management companies.

Contactless rental property showings are trending upward, especially during the pandemic. This is a trend that’s here to stay, even post-COVID. If your property management company hasn’t adopted self-showings as a preferred option, you’ll find it more and more difficult to compete with other properties and to fill your vacancies fast.

Whenever you start a new year, it can be valuable to take a look back at the previous year to gain perspective and set your expectations for the days ahead. As we looked back on the property management headlines from 2021, it only took a hot minute to see how much the coronavirus pandemic loomed over the landscape of the rental industry.

In the traditional way of showing a rental property, a leasing agent meets a prospective tenant at the rental property and escorts them through the rooms. A self showing, or contactless showing, allows prospects to view the property on their own, at their convenience, without an agent.