WE are in CRISIS MODE! LOW Occupancy!

WE are in CRISIS MODE! LOW Occupancy! any ideas for how to get more move-ins & leads

i cant think of ANYTHING else new to try that we haven't done already short of hiring a sign spinner to work the corner...

Text them and they will respond

Try sending video follow ups, there are some solutions that will show you when the prospect watches the video and how often they continue to watch it

Have you looked at an AI Leasing Assistant? Respage’s improves conversion rates and accelerates the leasing cycle by 50%. It also includes a chatbot which helps to capture and prequalify leads.

Definitely talk to your market and see if this trend is an anomaly. Are you guys advertising with any ILS’s? You mentioned Facebook above but that’s all. Can you talk to any reps in your area. Hire your residents - offer an increased resident referral for a specific time frame? Do you work with local locators? Offer an increased commission? Are incentives offered in your market? Do you have a competitive one?

Also look at your notices. Can any be saved? If unsure, reach out to them. If you know they are moving to a comp, find out why.

Do you allow dogs? We allow all breeds. No weight or breed restriction. We have zero issues. We “manage” dogs as well as the property and people now. Dogs are everything to their owner and properties miss out on great residents because of restrictions. We use a DNA program to make sure they clean up after their dogs. We fine for rabies and insurance expiring, etc. I feel like property owners do not give people credit for being great dog owners and it is a HUGE selling point to allow all dogs. People cannot find that easily.

Look at your team. In our area nothing is available to rent. It we do have something it is gone in less than 24 hours. Check your comps.

Do a market survey. How are your rents currently comparing to your comps? Are yours higher by a large percentage? Walk your property with the eyes of a prospect vs. employee, would you place a deposit today? If not, why, what would it take in your eyes to call it home? Put an open house banner out for a week. Do your ads stand out, or do they look like everyone else's? Is the team excited, replace the stress with excitement. These are some of the things I check when we start losing occupancy. You haven't lost your MOJO, bring the excitement back and go be a rock star!

Zillow literally changed our portfolio. Highly recommend them

Me too!! three leases forward three move outs back. 2 skips. 3 denials. 3 leases 3 denials. 3 leases. 2 denials. Can't make any head way. Hoping to break the rough patch. Staying afloat but not hitting the mark. And short staffed.

Is the DNA program easy to implement and manage? Which one do you use?

We are getting texting this week! I hope it helps!!

My boss calls it defcon 5...lol

This. Video works! (Full Disclosure- I work for a video solution- SalesMail- check us out !) People respond to the personal touch and appreciate the gesture.

Lauren! So sorry you are in this pickle!
ALMOST ALWAYS when I have lower occupancy I find #1 - VACANTS ARE NOT TURNED! As we say in my area, if it aint ready, we caint rent it! So start with exceptionally ready, ready, READY product!
#2 - Then listen to your staff...listen to calls, accompany on visits, look at follow up...DRILL DOWN!
LOTS of other great feedback already, but those are my 1 and 2 go-tos!

Hey there!

That's the worst feeling, especially when you're trying everything known to humankind to generate traffic.

Something that I've done in the past that really works is to pick your most aged vacant and bring the WHOLE TEAM to the unit. The techs, the leasing team, the housekeepers, the service manager, ACM, CM and even RM...the WHOLE team all at once in that apartment. And ask, "HOW CAN WE LEASE THIS APARTMENT THIS WEEKEND?"

You'd be amazed at the ingenuity that comes from that. Plus, a lot of the time, the units aren't polished and ready to go, and that energetically brings everything down.

Once you lease one of the tough ones, you start to build momentum in the right direction and maybe even start to feel invincible.

If you're experiencing a lot of denials, be proactive in explaining the income requirements so prospects don't get to that point.

Again, this is such a tough situation to be in and I'm rooting for you! xo, Heather

Hi Lauren, feel free to email me so we can chat about your strategy.
Be happy to share with you what we are doing.

Regards,
Andriana Soto

Lauren,
I know the stress you are under as we have had properties that are underperforming as well. Sometimes it's as simple as those answering the phones and showing are lacking the skills to close on a lease. Painting a good picture and getting the people out to see a good put together product is essential. You don't say what class property you have. As crazy as it sounds, could your rents be too low? Sometimes people see low rent and think it's not a good property. As crazy as it sounds we have increased rents before on properties and all of a sudden the phones were ringing off the hook and traffic was coming through the door. If you have great curb appeal, great units to show and units ready to move into I would look at either your marketing and advertising or your leasing staff. Good Luck! You'll get there

Give me a call and I’ll give you a few quick budget friendly ideas. 512-940-0236

Nurture Boss.

Hello Lauren, have you had a sit down meeting with your marketing agency? If you don't have one, please reach out and I would be happy to set up a discovery call with you if you'd like. We also help clients increase their leads with our lead conversion software.

Try Leasing Conversion Automation.