Why Having Trained Leasing Agents is Essential
How Having a Trained Leasing Agent Can Help Your Apartment Community
There are many important aspects when running an apartment community that landlords must be on top of to keep the residence profitable. One of the most important is keeping vacancies low. To do this, there needs to be more tenants coming in then there are leaving. There are numerous factors that affect the vacancy percentage, but one of the biggest is the people who fill your leasing agent positions. Leasing agents are a huge part of signing new leases and renewing current ones. The success of your property heavily relies on how good your leasing agents are, so it is important for them to be thoroughly trained.
What is a Leasing Agent?
A leasing agent is an employee at a multifamily residence that interacts with future residents and tries to get them to sign a lease with the property. The agent should know how to correctly communicate over email, phone and in person with the future resident. When an agent is trained, they have knowledge of how to close leases that many other agents do not have. It is vital that the agent makes the future resident feel comfortable and safe with them and the community to get them to sign the lease. Having a great leasing agent can significantly decrease the vacancies within your property. However, having a bad leasing agent can lead to an increase in the vacancies, which means much less revenue your property can generate.
How a Trained Leasing Agent Can Improve Your Community
Less Vacancies
It is the job of the leasing agent to fill the vacancies within your apartment community. How your leasing agent performs their duties effects how well your property will do. Therefore, having trained leasing agents can decrease your properties vacancy rate and lead to more profit. Trained leasing agents will know how to talk to future residents on the phone, in person and take them on a tour of the property in a way that makes the future resident feel safe, comfortable and welcome. Having leasing agents that know how to treat the future residents and make them feel like your property could be their home is necessary for any property owner that wants to make sure that they are able to fill vacancies.
More Revenue
Having a leasing agent that is trained can greatly increase your properties revenue. This is because there will be a decrease in vacancy loss. Annual vacancy lost is an estimate that property owners can take into consideration to make sure that they preserve their bottom line. The national vacancy rate average is 6.6%, and depending on how your property is run, this percentage can be much higher or lower. For example, if the annual gross income of a property is $1,000,000 then the average vacancy loss for that apartment community would be $66,000. That vacancy percentage is not set in stone year to year at your property, so having trained leasing agents can help to keep the vacancy loss as low as possible for a given year. If your property has agents that don’t know what they are doing, that vacancy rate can get much higher, which will significantly decrease the revenue that your property is bringing in. The good news is, if you need to work on your vacancy rate, having trained agents is an easy implementation that you can make.
Training Leasing Agents
There are options when it comes to getting leasing agents that are trained. Below are a few ways that you can have trained leasing agents at your property.
Train Leasing Agents Yourself
One of the ways that you can have trained leasing agents at your property is by hiring someone to train your agents or training them yourself. It can be time consuming and expensive, and having someone on payroll to train the agents might not be feasible. A good option instead would be to have your agents trained by an outside company that has a training program already set up. Leasing Temporaries is a company that can train your leasing agents, both in person and online. This is a great option for anyone that needs to train their leasing agents since you would not have to come up with the curriculum and you can train agents at different times during the year.
Hire Trained Agents
Another great way to have trained agents at your multifamily residence would be to hire agents that have already been trained. Leasing Temporaries is a temporary staffing agency that trains all their agents before they come to your community. They have temporary and temp-to-hire options, making them a great resource to help your residence get staffed with trained leasing agents.
Having trained leasing agents is vital to a property owner of a multi-family residence. Not having trained agents can lead to more vacancies and less lease renewals, making your property much less profitable than it could be. Vacancy loss is an occurrence that is expected in any apartment, however, your leasing agent plays a significant roll in the percentage of vacancies there are. If you are an owner of a multi-family residence who needs to decrease vacancies, one of the first steps that you should take is getting a trained leasing agent in your office so they can use their knowledge to close leases for your apartment community.
Contact Us:
Leasing Temporaries, LLC
(614)986-7590
