Power Up Your Leasing
There’s no time like the present to take a look at your systems, and given the time of year which is strong for the leasing market, now is as good a time as any to review those leasing systems and give them a little health check.
Depending on where you are in the country, may determine what your New Year leasing may look like. Some leasing teams that we work with report higher vacancies with minimal enquiries coming through the door, while others report to be run off their feet. Whatever the scenario may be for your team, it is a good time to review how well that process runs and check to see that it is running to its optimal best, so that when you are in those peak times, the systems can assist rather than hinder in achieving the best result.
We don’t know who that potential tenant is that is walking through the door and what impression you are may be giving them. It could be a friend of the Owner, or a potential investor doing some window shopping. A few areas that you might like to consider in the leasing process may be;
- Professional photography for every property – Ensure the property has professional looking photos. We are in a time where most people are generally time poor and someone may or may not choose to look at your property depending on the photos that you have online. You could also go the extra mile and include a floorplan
- Video walk through – we are now in a time where video is the buzz word when it comes to property inspections. We are rapidly heading into a space where virtual reality headsets will be able to be readily utilised to inspect properties before physically viewing them.
- Include a detailed description with all the features and benefits of the property, as well as the area features, school catchment zones and location.
- Return all phone calls and emails or implement an automatic system. Nothing will frustrate someone more than if their enquiry is ignored.
- Presentation is key – from the way you are dressed, to the way the property looks, something to keep in mind that it is not just the property, but your office on show and how you and the property present will be a reflection of that in public perception.
- Show them through the property and sell it. Don’t just open the door and stand at the front waiting for them to come out. You will be surprised how much information someone can give up about themselves in ten minutes if you engage in conversation.
- Find out feedback from the prospective tenant including any flaws or reasons they weren’t interested, which in turn will provide great feedback for your Owner, especially if the feedback is due to the condition or price.
- Keep your Owners updated throughout the whole process. You are at your highest risk of losing a property when it is vacant, so this is the time that it is important that you are giving the Owner the best service of their life. If you do need to go to them with a price reduction, make sure that you are well armed with comparables. Homework can give you a great advantage.
The Leasing landscape is constantly evolving and it’s a matter of keeping up with our ever demanding consumer and above all have fun because this process will allow, that while you meet some challenges, you will also meet some amazing new people. It can also be incredibly rewarding to help someone find their new home.