Have you considered your costs on turning an apartment?
Some managers in Texas calculated their costs and were shocked!
Costs are close to $2,200-$3,200 (based on carpet, paint, cleaning, concession, vacancy, marketing, and advertising) per apartment.
What is the average cost your company spends to turn a unit?
At Rent & Retain, we focus often on the sales sides of things, but when it comes to retaining our residents, it’s not just the office team that has a huge impact. According to Satisfacts Research, maintenance factors heavily in to whether or not a resident chooses to renew their lease at the end of the term. Here are three ways to use that knowledge to your benefit:
A responsive, professional service team is your best ally in the fight to keep your residents right where they are! Once a new resident signs their new lease a large part of how they continue to feel about their new home is in the hands of the service team. From the home’s excellent move in condition, to keeping the property and amenities clean and functional, to regular service requests, and even the occasional after-hours emergency – each one of these situations is an opportunity to keep your residents close or give them an excuse to give their notice.
