The lease-up phase is more than just filling units—it's about creating a lasting impression and building a community.
It’s an area in which Kellie Sanders excels.
"I think lease-ups are my favorite part of the business,” says the president of property management at Presidium, a Texas-based real estate developer, owner, and operator. “I must have done well over 20 in my career.”
With an ambitious number of luxury projects in the pipeline, Sanders has developed a reliable system that not only generates leases but also establishes lasting relationships with residents. Here, Sanders offers five tips for delivering a quality experience during lease-up.
1. Save the Routine Questions for Last
There’s a difference between a true consultation with prospects and merely gathering the basics. Routine questions—When are you looking to move? What is your price range? How many bedrooms are you interested in?—only scratch the surface.
“Those should be the last questions,” Sanders advises.
This is the leasing agent’s opportunity to understand what, precisely, the prospect is seeking in a community.
“The questions should be: Who are you? Where do you work? What's your interest? What's important to you?” Sanders says.
“If I spend 25 minutes describing the fantastic kitchen in this two-bedroom apartment, only for you to tell me that you hate cooking, it wouldn’t make any sense.”
That’s why you should dig deeper by seeking more personal information.
2. Open All Channels of Communication
In today's leasing environment, prospective tenants want a process that is both flexible and personalized. At Presidium, this means offering various methods of interaction—voice, email, text, chat, social media, and convenient appointment times. Providing both virtual and in-person options caters to the diverse needs of modern renters, ensuring a more accommodating leasing experience.
3. Refine Your Services and Products
Standing out in a competitive market requires a unique approach to luxury. Sanders notes, “We discuss how to refine both our services and our product. How can we set ourselves apart?” Presidium focuses on developing thoughtfully crafted, elegant, and grand spaces that go beyond standard amenities. This includes features like expansive clubrooms, resort pools, co-working spaces, and smart-home technology. By refining its services and product offerings, Presidium creates a unique living experience that appeals to modern renters’ desire for both luxury and functionality.
4. Empower Leasing Teams
Equipping the leasing teams with the right tools and authority is crucial for a successful lease-up. “Hire the right individuals, empower them, trust them, and provide them with the tools to make an impact,” Sanders advises. At Presidium, team members have preapproved closing tools, enabling them to make decisions and negotiate with prospects without constant supervisory approval. This kind of autonomy ensures they can promptly address and fulfill prospects’ needs, streamlining the leasing process.
5. Foster Engagement
Presidium organizes events such as mixology classes and collaborations with local businesses, specifically designed for its markets and prospects. “We actively engage with the communities we're part of, aiming to cross-promote the nearby businesses,” Sanders says. This approach not only enhances the appeal of the property but also helps build a strong and vibrant community.
While these strategies will go a long way toward filling units, Sanders cautions not to overlook leasing’s golden rule: “Deliver on what you sold.”
