How a Virtual Leasing Agent can close your vacant homes faster.
Real Estate Vacancy is the biggest nightmare you can have as a property manager or owner. The number one reason a property manager can get fired is because of the vacancy rate. As a property manager or leasing agent, one of your main responsibilities is to keep occupancy rates high. Hence, filling the property as soon as possible is very important for your property management business or for your real estate portfolio.
On the other side, the tenant leads say that the biggest issue they face in finding the right home is getting the information from the owner or property manager. Answering to the tenant leads immediately is a huge time consuming task for the property owner and manager. If the managers can handle the tenant leads efficiently it will help the properties to be filled early.
This issue becomes out of control when the properties you manage are . And the more apartment units you manage, the harder that can be.
1. Use a Virtual Leasing Agent to Maximize Close Rates
Prospective residents are leads. A Virtual leasing agent can help you get more leads, giving you a bigger pool of new tenants to choose from. Acrebook Realty Services helps to streamline your leasing process that works in tandem with property owners and management companies and leads. A Virtual Leasing Agent can handle these tedious tasks
- Follow up with leads within 15 mins
- Prequalify the leads
- Schedule Appointments
- Handling contracts
- Maintenance Issues
- Answer tenant questions
- Schedule tours
- Help vet or pre-qualify tenants
- Gather information on tenant preferences
- Accept tenant applications
- Match with other properties for each lead
With a virtual leasing agent, you can process leads faster and reserve tours for those most likely to lease. Now, you can save time on some of the preliminary steps in the leasing process.
The property needs to be marketed in the Real estate portal such as Zillow, Apartments.com, Realtor.com Craigslist, Facebook Marketplace. While the leading portal are paid, facebook marketplace is free. Social media platforms and sites like Apartments.com can attract an endless amount of interest in your complex.
3. Follow up with the leads within 15 mins.
The first step in maximizing your close rate is to create an effective communication plan and follow up with the leads. Current tenant leads have several properties to scan through and they need to make the decision as soon as possible. Getting back to them within 15–30 minutes has a higher chance of closing the property.
4. Prequalify your tenants.
Before you schedule an appointment, pre-qualify the tenants. It will save your time and money. Have qualification metrics and be transparent with requirements. The common metrics as follows.
- Salary 3X the Rent
- No Bankruptcy
- No Eviction History
- Clean background history
The Pre qualification should not take more than 1 hour. Getting back the potential lead with a short span of time is very important.
4. Schedule an Appointment.
Once the lead is prequalified, an appointment is set as soon as possible. Most tenants shop around and tour various apartment communities before deciding which unit they want to lease. That means you have to make an appointment at the earliest and lock in the right tenant.
Before you schedule an appointment, make sure the property is ready.
- Be sure that the unit is in excellent condition
- Guarantee it’s clean from top to bottom.
- Check that all appliances, lights, windows, faucets, and fixtures are in working order.
- Ensure it smells good.
The goal is to make a renter want to sign a lease immediately!
5. Conduct the Tour Like a Pro
If you want to close more leases, be professional and respectful throughout every moment of your apartment tour.
Be hospitable by opening the door and ushering the prospective tenant in. Point out the highlights and best features of the apartment. Encourage visitors to open cabinet and closet doors. Make them feel comfortable and allow them to do a thorough inspection of the unit, inside and out.
Know the square footage of the apartment. Carry a tape measure and be willing to do some on-the-spot measuring if the future tenant worries that their couch, bed, or dining table might not fit.
Frequently Asked Questions to the leads
How soon are you looking to move in?
How many people would be living at the property?
Do you have any pets?
6. Recommend Other Units
If the tenant does not link this property, the agents can redirect them to other properties in the same neighborhood. You can maximize your close rate if you give clients more options and more opportunities to sign a lease.
7. Send a Thank You Email
It doesn’t matter whether you conduct tours online or in person. It’s a good idea to have a canned email response ready to go that thanks the client for their interest and time.
8. Follow Up after 1 day
Any tenants are expected to view several apartments. They’ll likely have some follow-up questions to ask before they make their decision. And this is why excellent communication skills are essential. Be available at all times to answer their phone calls or respond to their emails. When clients have questions, they want answers on the spot. Don’t delay responding to their emails, voicemails, or text messages. As a general rule, make it a point to respond within a few minutes. If they contact you in the middle of the night, be sure to respond first thing in the morning.