The intricate dance between property managers, leasing professionals and prospects holds the key to unlocking sustained occupancy rates, revenue growth and a thriving community. Undervalue any element of the leasing process or onsite teams and owners are setting themselves and their portfolio up for failure. These insights into the importance of each lease were the subject of the “Treat Each Lease Like It’s a Big Deal” session at Apartmentalize 2024.
Exceptional customer experiences are no longer a luxury; they are a necessity. Prospective residents have an abundance of choices, and they gravitate toward organizations that prioritize their needs, anticipate their preferences and deliver seamless, personalized experiences at every touchpoint. From the initial inquiry to move-in day and beyond, every interaction with a prospect or resident should be treated as a "big deal." This means going above and beyond to understand their unique circumstances, addressing their concerns proactively and delivering a level of service that exceeds their expectations.
Leasing excellence begins with a shift in mindset, empowering teams with the right tools, resources and support. This includes competitive compensation and incentive structures for ongoing training and professional development. Teams must feel they are valued, heard and encouraged to contribute. Leasing excellence is not the sole responsibility of onsite teams.
“Companies always have that open door policy; you hear that all the time. Don't open your door — open their door,” said Ivana Christman MBA, CAM, Owner and President of Quest Management Group. “Walk into their room, put yourself in their shoes and have real conversations with them. There are new issues out there that weren't there just a few years ago. The jobs are hard.”
Attracting and retaining top talent is a perennial challenge in the multifamily industry. To foster a culture of leasing excellence, organizations must invest in comprehensive talent development programs that nurture the skills and expertise of their leasing professionals.
This investment should encompass a range of initiatives, from structured training programs and mentorship opportunities to career development pathways and leadership grooming. By investing in their people, organizations not only enhance the caliber of their leasing efforts but also cultivate a sense of loyalty and commitment.
“Leader is not just the title. How are we hiring, how are we training, how are we coaching, how are we mentoring and how are we helping our team adapt to the new economic conditions?” asked Tony Sousa, Vice President of Marketing Relations at RPM Living. “What it is in the future that they need to be doing? What are we doing providing them big-deal leadership energy for the future?”
Complacency is the enemy of progress. Successful organizations must embrace a mindset of continuous improvement, constantly seeking opportunities to refine their processes, enhance their strategies and elevate the overall leasing experience.
This commitment to continuous improvement should be woven into the fabric of the organization, with regular feedback loops, performance evaluations and opportunities for team members to share their insights and ideas.
Kevin Juhasz is a Content Manager for LinnellTaylor Marketing.