Class C Property Market
Challenges of Leasing in the Class C Property Market
While there may not be as much competition as the Class B market, there is still a great deal of competition among C properties in urban and suburban markets. Add to that the influx of investors who are smartly buying up distressed properties, and you can see how important it is to ensure you make leasing a top priority.
One of the biggest struggles owners of Class C properties we work with experience is the challenge of finding quality staff. Oftentimes, the only people applying are those with no property experience who see it as a stepping stone to break into the business. Their concern is to get something they can put on their resume to get them to their next property. As a result, they are less concerned with attending to the needs of prospects and residents and more concerned with getting a few months under their belt.
Sales, Inc. Solutions to Leasing Class C Properties
Everybody needs a place to live, and our ability to keep that in the forefront of our Leasing Experts minds ensures they will give the highest level of service to every qualified prospect they contact. When management firms see the benefit to having Sales, Inc. on a property, they can fully turn their attention to maintenance and other issues more common on C properties.
Sales, Inc. has a successful record leasing C properties because our techniques allow our Leasing Experts to truly serve the prospective residents of this property type. We frequently find that C properties deliver lower quality service because they think they can.
What Sales, Inc. sees when we get contacted about a C property is the opportunity to win over prospects with great service and the proper use of sales techniques that promote this high level of service.
The benefits of our focus being strictly leasing provide our Leasing Experts the ability to focus on a person’s needs, and to spend quality time with each prospect rather than quickly answering a few of their questions and getting back to other pressing duties.
We have seen this happen on literally hundreds of properties where our approach doubles or even triples the applications and signed leases. In addition, our techniques often “rub off” on the existing staff at C properties and they begin to understand why their quick, haphazard handling of prospects will lead to low closing rates.