Lotus Property Services, Inc. has the ability to effectively and promptly lease vacancies utilizing our innovative marketing techniques. Leasing units is one of the many things we do best! Our in depth Staff Training Program incorporates marketing and leasing concepts that we have developed and perfected throughout the years. This allows us to achieve higher occupancy and greater tenant retention. The key to success in our industry is simple: eliminate vacancies and create tenant retention. While other companies are worried about market conditions or issues not relevant to the tenant (our customer), we focus our energy on what keeps tenants happy and what draws in new applicants. Sounds simple, but many fail where we succeed. Through our years of experience in marketing success, we have learned to take the science behind marketing and incorporate the ideology to our leasing and training programs creating an environment of successful leasing.
A few of our Successful Marketing Strategies are:
1. Know your market! This is a fast paced rental market which is continually changing so you must change with the times. Not only should you know your market, but you must own your market! Study your surrounding competition, know what they are offering. How are you different and how can you be better? Price, Product, and Service!
2. Create a marketing plan based on your research and target the market you have identified in your local area to capture your ideal tenant. Know who is renting units in your area and at your property and market directly to them.
3. Advertise using zero to low cost media outlets and use local laundry/stores/and community centers to get your message to the tenant you are seeking. Be creative, online and on foot!
You will find that Lotus believes in Leasing with enthusiasm. We create an environment that is conducive to leasing units. What does that mean to you? First and foremost, training is the key to good leasing skills. Every great salesperson has been trained in their skill, hence why we continually work to train our staff with the goal of building their product knowledge, customer service and leasing skills. We believe in team work! Lotus Property Services, Inc. is only as effective as the weakest person on the team; this is why we work happily with one another to accomplish a unified goal of renting units and keeping our customers happy.
We often find that property owners get caught up in the mundane daily operations of management, sometimes forgetting that they are running a business and tenants are their customers. One of the many problems that is overlooked by ownership and by other property management companies is tenant service or as we see it CUSTOMER SERVICE. The cheapest way to rent vacancies is to never lose a good tenant! Sounds simple enough, however, this is where many properties are losing their good paying tenants. Good ole CUSTOMER SERVICE with your current tenants could have kept them happy and still living at your property! Service your existing tenants (customers) properly and they will be satisfied and less likely to leave their happy home. Lotus Property Services, Inc. provides top quality customer service to our clients and our tenants with the end goal of achieving and maintaining 100% occupancy.
Vacancies happen, however Lotus never fails to be creative in our marketing. In order to solve problems with vacant units, management must first monitor the vacancy traffic from drive bys to phone calls. This clearly identifies what marketing techniques are working or why vacant units are not being rented. There is a science to what we do. Like the stock market or when purchasing investment properties we look at the numbers and percentages to figure out what works. The same goes for vacancies, first and foremost Lotus keeps a Rental Traffic Log and we look at how many calls are coming in, where are they coming from (which media outlet) and then we follow up with the prospective tenant to find out why they did or did not rent our vacant unit. The gathering of this information eliminates any guess work and assists our staff in marketing future vacancies with the end goal of signing leases. See the following link, to review a Lotus sample Rental Traffic Log filled out by one of our team members.
We understand that times are changing and our markets are evolving so we have created a system that works to keep tenant retention high by working with our good on-time paying tenants to keep them happy in our units by offering them lease renewal concessions. Of course no one wants to go out of the way to offer lease renewal concessions but in some cases this may be a more cost effective way to secure your unit from becoming vacant.While other property managers and owners are out there experiencing high turn-over and unsatisfied tenants (customers), we are working to keep and maintain occupied units and satisfied tenants. Very strict restrictions apply when utilizing this approach but in changing times we must move aggressively to maintain positive cashflow and stable property operations. See the link below to see a few sample tenant lease renewal forms.