:::Lease Up Question:::
Are there any tricks/tactics you’ve found that actually work well when attempting to pre-lease while still under construction?
We are in a VERY oversaturated market in Texas!! New properties and specials everywhere!! We are running a 1 Month Free special and paying locators well, too. All of the other communities are doing the same. The good thing is in our tiny area of town we are the only brand new site (other lease ups about 6-7 minute drive away though).
I’d love to pull in a few leases right away to make the ownership very happy. Anything unique you’d suggest????
Offer one month free to current resident as referral....instead of offering to new Move-ins. Sometimes offering No special ....makes you special. (Do drawing instead for a 75inch TV for December MIs only) And the residents are the best leasers...it will create a buzz.
Also this sounds crazy...but order the GIANT size candy bars online...stack them up and give away one for every application filled out. (CANDYLAND)
Unique amenities, ongoing savings for "early birds" ($100 off per month instead of one month free), a very friendly & personal tour (get to know their needs & how you can meet them better)
Where are you advertising and what sort of advertisements are you using? Even though we all think our properties are special they all blend together for prospects. Make sure your advertisement is something that stands out. And make sure you’re the first prospects hear back from when they inquire.
Employ experienced leasing personnel. Put your marketing dollars in paying aggressive leasing bonus’ (no less than equal to one months rent) and you will be surprised at the outcome. Owners have learned you only need the free rent or other give aways if you have a staff that only goes thru the motions of what they are there to do.