How Will You Survive
a Changing Market in
a Slowing Economy?
By I.T. Partners
Courtesy of For Rent Publications
Changing Market
9-11-01
Surplus of A+ Communities
Slowing
Lower Interest
RatesEconomy
Excessive Incentives
Resident Turnover
Higher Unemployment
Lower Retail Prices
Slowing Economy
Corporate Downsizing
Wage and Benefit Caps
Changing market
combined with
slowing economy
equals uncertainty
Uncertainty creates an
An opportunity to
opportunity to re-examine
rebuild our strategy.
our productivity.
What is the margin of
difference between an
apartment community
that is financially healthy
and one that is not?
How Can We Work
Smarter in 2002?
Create
and
maintain
a
Continually
search
for
and
Figure
Define
out
what
how
our
we
customers
can
Create and maintain systems
positive
work
environment
refine
our
competitive
deliver
think
and
customer
feel
satisfaction
that consistently deliver
with
a
learning
mentality
edge
–
then
promote
it.
superior service
Whose home is it anyway?
Our residents are always our customers
We need to serve our customers
better to retain them longer.
We need a competitive edge to
recruit new customers on a
consistent basis
By allowing our customers to
lead we can design a leasing
strategy that will optimize
any economic condition.
How do our customers
think and feel?
We have to listen
to learn what they
think.
We have to connect
in order to empathize
with how they feel.
Do our customers
like technology?
YES
 Quick response
 Easy answers to
some questions and
concerns
 Ready access to
current information
NO
 Prefer human
interaction
 Poor substitute
for personal service
 Enjoy the customer
relationship
Let’s think about
marketing differently.
Permission Selling
Memory Point Marketing
Customer-Friendly Transitions
Point of Service
On-site Merchandising
Service Encounters
Outreach Marketing
Attitude in Action
It’s your attitude, not
Show
that youthat
your aptitude
genuinely
care else
counts.
Everything
you can learn.
Attitude in Action
Our customer service
representatives
are the on-site team.
Attitude in Action
Customer
Our
goal as a
relationship
company
is to
management
be the best. is
good business.
Attitude in Action
Remember the first
rule in customer
service is:
treat other people
the way you want to
be treated.
Product/Market Knowledge
1. Know the $$ rental value
of each feature-benefit
at your community.
2. Understand the
comparable featurebenefits of competitive
apartment communities.
Product/Market Knowledge
3. Be able to sell the
rental rate at your
apartment
community on the
basis of featurebenefits and
comparison with
the competition
Product/Market Knowledge
4. Accomplish the analysis
by computing the per
square foot rental rate of
the following:*
A.
B.
C.
D.
Each apartment home
Each feature-benefit
Rental increases
Capital expenditures
Product/Market Knowledge
* Note: This is done by
dividing the square footage of
the apartment home into the
dollar amount.
Example: You raise the rent
$40 on an 800 square foot
apartment that was
previously $600. The rental
increase is 5 cents per
square foot. The previous
rent was 75 cent per foot. It
will now be 80 cents per foot
$$ Value of Feature Benefits










Air Conditioning – Central
Business Center
Carport
Ceiling Fans
Complete Spa/Gym
Concierge
Dishwasher
Floor Level
Garage Attached/Detached
Gated Community











Interior Upgrades
Internet Access – DSL/Cable
Intrusion Alarm
Microwave
Multiple Phone Lines
Patios/Balconies/Enclosed
Resident Services
Theater
View
Washer/Dryer
W/D Connections
$$ Value of Feature Benefits – Notes
To utilize this form as an effective marketing tool, you need to
convert the dollar value of competitive features into price per
square foot.
Example: You have attached garages at a community. By
shopping the competition and surveying your customers, you
determine that this feature should have an assigned value of
$150 per month. If your apartment homes are 1000 square feet,
you divide the square footage into the assigned value ($150
divided by 1000 sq. ft.). In this example, the calculation might
tell you that apartment homes with attached garages could be
getting 15 cents more per square foot than other apartment
homes without this feature. There are many ways to utilize this
additional knowledge.
Customer Interaction
Unlike other service
What
binds
Keep
in
mind
that
You
and
youryour
interactions,
your
Always
take
the
resident
the
way
ato
customer
customer
are
both go
customer
doesn’t
extra
step.
Itthe
makes
community
is
is
treated
all
involved
inmakes
the
away
once
the
a
difference!
service,
information
the
difference
community
that
transaction
is
and the
feeling
that
when
the
lease
brought
you
together.
complete.
You
heyou
or she
valued
renewal
To
it rolls
istoisabe
business.
continue
and
appreciated.
around.
To
them
it’s
home.
involved
in the
customer’s daily life.
Value Added Service
1. Consistently
exceed
expectations
2. Manage
expectations
3. Understand your
business strengths
4. Focus on what
matters to your
customer
Value Added Service
5. Responsiveness
and empathy adds
value
6. Value your
customer
7. Offer assurance
8. Pay attention to
details
9. Create connections
What Can We Do To Add
Value To Our Services
Basic
Expected
Exceed
Unique
Customer Satisfaction
You are in business for
your customers and
because of your customers
Customer Satisfaction
Standards must be set high for the
front-line employee who has
constant customer contact.
Customer Satisfaction
One of the key elements in
managing successful customer
relationships is learning
how to satisfy the customer.
You can’t beat consistent
follow-up as a leasing strategy
Daily schedule for
Follow-up
Includes phone follow-up,
e-mail updates and
handwritten thank-you cards.
Separate follow-up programs for:
 Potential residents
 Referral sources
 Existing residents
Make your leasing
follow-up more compelling
E-mail attachments







Photos
Floor plans
Resident testimonials
Maps
Driving directions
Links to your website
Other sources of
information
Utilize your website as a
marketing showroom
Store important customer
information to download
upon request as needed




Site maps
Neighborhood maps
Floor plans
Comparison
information
 Move-in packet
Customer-Friendly Transitions
 The re-contact of a completed application is
timely and courteous.
 Helpful information and tips are provided
including: Neighborhood map, change of
address cards, phone numbers and
addresses for utilities, truck rental, ministorage, furniture rental, cable connection,
newspaper delivery, local banks, post office,
shopping, schools.
Customer-Friendly Transitions
 Create posted “feature-benefit messages”
throughout their new apartment home.
 The lease and other documents for review
are completely prepared and reviewed with
the new resident. The review should include:
what is required, why it is required and how it
benefits the new resident.
Customer-Friendly Transitions
 Create posted “customer tips” and “how-touse” messages to refer to and demonstrate
during “move-in” inspection with new
resident. Recommendation: leasing
specialists carry a “sparkle kit” with cleaning
supplies to put finishing touches on items
inside home.
 Introduction to service technician and service
request process during “move-in” inspection.
Example: resident is given a refrigerator
magnet with service contact information.
Customer-Friendly Transitions
 Measure customer satisfaction of “move-in”
process with a survey and a gift.
 Continue resident communication throughout
the lease term.
 Fully utilize monthly rental payment, service
requests and other encounters to measure
and extend customer satisfaction.
Customer-Friendly Transitions
 Upon receipt of a move-out notice conduct a
“walk through” and customer satisfaction
survey. Provide a “cost of moving” worksheet
and a checklist of moving tips. Find out what,
if anything, could be done to keep the
resident.
 Consider upgrade options that might retain an
existing resident or attract a new resident.
Customer-Friendly Transitions
 Conduct and fair and timely “move-out”
inspection with clear communication to
resident. Consider “move-out” gift and referral
program.
 Measure customer satisfaction of “move-out”
process with a survey. Consider a
comparison survey with other apartment
communities.
Customer-Friendly Transitions
 Regularly summarize experiences, survey
information and customer comments as
feedback to the entire team and to individuals
where appropriate. Consider utilizing results
and specific comments in marketing materials
and/or sales presentations.
Service Request Card
(front side)
Your community
name & logo
here
For Emergencies
Phone 000-0000
For routine service calls,
please complete and submit
this card to the office.
Your Service Technician is:
Your community name, address,
city, state, zip & business phone
Develop various
tools to make it
simple for
residents to file a
service request.
Remember, each
service call is an
opportunity to
solidify your
relationship with
the resident and
encourage resident
retention.
Service Request Card
(back side)
Date
Name
Building Address/Apartment #
Phone where you can be reached :
Home
Work
Thank you for taking the time to let us know about your
service needs. For prompt attention, please turn in you
request before 12:30 p.m.
Please do not attempt to make the repairs yourself. Our
trained technicians are ready to meet your service needs.
Thank you.
Personal
Notes
Handwritten Welcome
Welcome to your new home. Please
feel free to contact us so we may
provide ongoing customer service.
Betty
Mary
Jesse
Mike
Personal
Notes
Handwritten Welcome
Handwrite a welcome note 4-7 days
after the resident moves in.
Welcome Home Notes
 Utilize as a message from anyone who
helped prepared the apartment for move-in.
Create as a tent card or door hanger.
Examples would include: housekeepers,
carpet cleaners, painters, etc.
Welcome Home! Your Carpet was cleaned by:
Questions or comments, Call:
Welcome Home Notes
 Utilize as a
message from
anyone who
entered the
apartment home
while the resident
was away. Created
as a tent car or
door hanger.
Welcome Home!
Your Service Request
Was completed by:
Questions, Comments
Or Concerns,
Please Call:
Welcome Home Notes
 Utilize as a message from the service team outlining
operating instructions. Create as a decal or magnet in
the general location of the appliance. Examples
would include garbage disposal, dishwasher, heater,
air conditioner, etc.
Welcome Home!
Several Operating Instructions for your
1.
2.
3.
Questions, comments or concerns, Call:
Helpful Hints
 Create personalized
messages from other
team members that
provide help during
move-in.
 Develop regular
communication that
establishes a
community feeling.
Taking a Service Request
A service request should be taken by:
 A trained team member who is attentive
and courteous.
 A team member who recognizes the
customer retention and lease renewal
potential of this call.
 A team member who is generally reassuring
but does not make specific promises.
Taking a Service Request
A service request should be taken by:
 A team member who will not interrupt and
will make sure that the caller is completely
understood.
Note: if the request is made while engaged in other
business, a convenient method should be utilized
for follow-up. Use methods that make a service
request easy for a resident.
Taking a Service Request
A service request should be taken by:
 A team member who asks for detailed
information concerning this address, location
and nature of the problem.
 A team member who will get several key
pieces of caller information including correct
spelling of name, confirmation of resident
status, home and business phone numbers
as well as fax and pager numbers if
applicable.
Taking a Service Request
A service request should be taken by:
 A team member who will verify authorization
to enter apartment and special entry
circumstances.
 A team member who can walk the customer
through common situations such as disposal
reset, breaker reset, turning off running water,
etc.
Taking a Service Request
 After the phone request, a priority should be
assigned based upon availability of a service
technician and outside help anticipated.
 An assigned priority probably requires contact
within the service team before a time
commitment is made to the resident.
Taking a Service Request
 A detailed service request form (in duplicate,
triplicate or computerized) should be
consistently utilized to coordinate and followup with service team members, outside
vendors and the customer.
 This form should have a place to record the
customer comments, commitments made to
the resident, service tech’s comments and
follow-up attempts.
Taking a Service Request
 The person receiving the request will take the
lead (or service team member assigned) by
re-contacting the customer to inform of delays
(i.e. part needed).
 A team member should be assigned to recontact the resident after work completion to
determine customer satisfaction. Sometimes
this assignment should be given to the
service technician who completed the work
Taking a Service Request
 Re-contact should continue until resident is
satisfied. General satisfaction should be
subsequently surveyed.
Maintain a learning mentality on-site
 Everyone needs to be a mentor
 Everyone needs a mentor
 Customers need to be included in
problem-solving
Concierge
1. A resident in an apartment
building especially in France who
lsyerzh
French
term: kõn
fellow
slave
Pronounce:
serves as doorkeeper, landlord’s
representative and janitor.
CARES Program
Concierge or Lifestyle director
Plans social activities
New residents-warm calls
Assists residents that have errands, are
ill or locked out
CARES Program
Always couples
Works no more than 80 hours per
month
Compensation = free apartment home
plus $1 per door
Are pets
important
to our
customers?
Can this affect
your bottom line?
Are you pet smart?
 Application
 Photo
Redesign your pet
 Addendum
documentation
 Deposit
 Community Policies
Market Pet-Friendly
1. Catnip and doggy biscuits attached to
business cards
2. Pet refreshments
3. Pet friendly opportunities
(shows,parades,training)
4. Network with neighborhood resources
5. Pet bowl with name as move-in gift
6. Family photo with pets
Fully utilize your on-site clubhouse;
community center; converted
laundry facility; vacant apartment
 After school programs
 Boys/girls clubs
 Senior programs
 Weight Watchers
 Chamber of Commerce mixers
 Open houses for neighborhood merchants
Utilize your website
as a community center
 Announcements
 Questions
 Service requests
 Suggestions
 Comments
 Testimonials
Make your apartment
community the place to be
 Resident events
 Art show
 Day Spa
 Taste of…
Build a sense of community pride
 Community sports teams:
 Bowling, softball,
volleyball
 Community blood
drive on-site
 Neighborhood Watch
 Support a Charity
 Adopt-a-Highway
Make your apartment community
important to the neighborhood
Offer consumer classes on-site:
 foreign languages
 home buying
 computer
 health and fitness
 Internet
 personal safety
 financial planning
 dance
Offer valuable neighborhood
services:
Sponsor neighborhood
activities:
 Little League
 Bobby Sox
 soccer
 library
 PTA
 vaccinations
 micro-chip I.D. for pets
 fingerprinting for children
Reach out into your local
marketplace
 Supply residents with
community postcards, pens,
bookmarks
 Deliver resident gifts to them
at work
 Take breakfast to a local
radio station
 Speak at high schools and
colleges
 Write articles for local
publications
 Teach rental related classes
Outreach Referral Sources
 Technical/vocational
training centers
 Airlines
 Hospitals
 Senior community
centers
 Malls
Rental Incentives
 Day care centers
 Truck rentals
 Moving companies
 Container companies
 Furniture rental
 Surrounding
merchants
Outreach Tips
 Sunday paper
 Grand openings
 News media
 Promotions
 Chamber of
Commerce
 Office Furniture
Companies
 Commercial Space
Good marketing begins with a plan
Positioning statement
What is the message?
Identify your target
audience
Written plan with
timeline and budget
“Be distinct
or extinct”
-Tom Peters
Websites that can help
homestore.com
Click on welcome
wagon for movein ideas
smmonline.com
Free electronic
greeting cards
for the apartment
industry.
hsusa.org
deltasociety.org
All the resources
you need to
become pet smart
pcshowandtell.com
Get quick audio-visual
demonstrations of
how to fully utilize
your computer and
software applications.
itpartnersonline.com
Click on free
resources for a
library of training
resources
including today’s
presentation.
Move
Don’t ahead
tread
Your choice