Working for Leases During Tough Times

Author: Alecia Pirulis

The change in the economy has meant a lot of us are experiencing a difference in things that used to be a lot easier. One great example is in working with current and prospective residents.Matt Haggerty has an interesting post over at MultiFamily Insiders that speculates on what’s driving some uncommon metrics. One of his properties wrote only two leases after 60 showings in the month of May.

Check out the comments also: Tara Smiley makes a good point about how prospects are having to balance their needs versus their wants. It’s a different climate than just a year ago.

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Jun 05

Sixty showings, two leases!?!?

Posted by Matt Haggerty in Untagged

The year 2009 is all about resident retention and trying to capture a diminished customer base. People are moving, but it seems people are not moving by choice, but because either there is no choice, or because of a perception that there is opportunity.
We have a property in our portfolio that tracked sixty showings in the month of May and only two approved applications. I have never witnessed anything like it.