Free Television or iPod or Half A Month’s Rent Off?

Test out the psychology of the sale with your residents. Find something your residents would like (computer, television, Play Station 3, etc.). Offer them the product OR a free month’s (or half month’s) rent. See which is the better sales incentive.

Naturally, match the product with your residents -- Play Station 3 is for the gaming generation, ages 18-34, and mostly male. If you have Senior Citizens at your community, this is not a good incentive for them!

If you find that your resident profile likes the products best (vs. money off), you now know that’s the way to approach renewals, as well as future first time sales.
P.S. Of course, the trick is to buy products significantly below retail price. This way renters get the perception of a new, $1,000 computer... and you only paid $600 for it.
Computers especially are SO cheap these days!!! Check newspaper circulars for deals -- and many stores will give you a discount when buying in quantity. Estimate how many computers (or televisions, or iPods, or Play Station 3’s) you’ll be buying, talk with a manager, and ask for AT LEAST a 20% bulk discount. Certainly put a free ad in your resident newsletter for the store too. That won’t cost you anything, but could lead to some big business for the store.

« Back to Article List