The 7 Secrets to Successful Apartment Leasing: Find Quality Renters, Fill Vacancies, and Maximize Your Rental Income [Paperback]

Eric Cumley (Author)

Book Description

Publication Date: October 6, 2005

From telephone presentations to showing apartments to closing the deal—insider secrets to filling every apartment, every time

Vacant apartments mean income lost—for property management companies, investment property owners, landlords, and anyone else who relies on rental income to pay the bills. In 7 Secrets to Successful Apartment Leasing, Eric Cumley provides seven proven industry secrets to building the relationships that achieve and maintain high occupancy levels. From “Stop Qualifying Prospects and Start Interviewing Them,” to “Follow-Up is the Extra Mile,” Cumley provides examples, tips, to-do lists, sample scripts, and more that will help you responsible for filling vacancies do so, quickly and effectively.

Editorial Reviews

Review

D. FITTING IT ALL TOGETHER
Let's take a look at how these new ideas - responding to the request for price, and the Magic Questions - might fit together in a real-life telephone scenario:

Lisa (with energy, enthusiasm): Thank you for calling Evergreen Village, this is Lisa.
Caller: How much are your one bedrooms?
Lisa: You know, it really depends on what you're looking for. Would it be okay if we started with just a couple of quick questions?
Caller (a bit impatient): I guess . . . .
Lisa: Great, thanks. First of all, what's your name?
Caller: Bill.
Lisa: Hi Bill. Again, I'm Lisa. Bill, what's your last name? (proceeds to write Bill's first and last name on a guest card.) Alright - you said you're looking for a one bedroom. Could you please describe for me some of the things you'd like to have in your new apartment? (Magic Question #1)
Bill: Well, let's see . . . I need a big bedroom. About two years ago when I started living by myself I bought a king-size bed (stops talking at this point.)
Lisa: Okay, you need room enough for a king-size bed (writes that down.) Got it. What else?
Bill: Another thing I want is a fireplace. I really like to unwind in front of a fire when I come home from work.
Lisa: Sounds great (writes some more.) What else?
Bill: Let me see . . . well, I'd also like to have covered parking. It's something I wish I had where I'm living now.
Lisa: Where is that?
Bill: The Pines, up on SE 36th St.
Lisa: I know right where it is. You were saying about covered parking . . . .
Bill: Yeah . . . I just bought a new truck, and I want to keep it out of the weather, you know?
Lisa: Absolutely (makes more notes.) Okay Bill, let me make sure I've got all this straight. You're looking for a one bedroom - a big one bedroom - with a fireplace and covered parking. What else can you think of?
Bill: Oh, I almost forgot. Two more things, actually. First, I need a good amount of storage - I've got my skis, a mountain bike, golf clubs, and a bunch of other stuff. And second, a washer and dryer would be nice.
Lisa: All right . . . so far so good (writes more notes.) Could you please tell me about where you're living now, and why you've decided to move? (Magic Question #2)
Bill: Oh boy - are you sure you want me to go into this?
Lisa: I'm sure. It will give me a better sense of the things that are most important to you.
Bill: Okay . . . see, there are these people that live downstairs from me, and they [Bill proceeds to tell Lisa about his experience at The Pines, explaining why he wants to move and how soon. Lisa adds more to her notes.]
Lisa: Wow. I'm sorry you had to put up with all of that. You know Bill, it looks like I might be able to help you out.
Bill: Good.
Lisa: How much are you planning to spend?
Bill: Up to about $600, I guess.
Lisa: Great - we definitely fit your budget. Do you have any pets?
Bill: No.
Lisa: Okay. Just a couple more questions, and then I promise I'll stop.
Bill (enjoying the attention): No problem, no problem.
Lisa: How did you find out about us?
Bill: I'm looking at your ad in this magazine I got at the store. It's called the . . . what does this say . . . Rental Magazine.
Lisa: Good. Make sure you circle that ad. Now, last question: Can you come out and see me today? I've got an apartment here that you definitely ought to check out.
Bill: Sounds like a good idea. Let's set it up. -- --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

Sure-fire insider tips for maintaining high occupancy levels all year round

Clever marketing campaigns attract attention, but they don’t close deals. A surprising number of those in the apartment leasing business lack the communication skills to keep their prospective renters interested long enough to make a commitment. Focusing on crucial sales and interpersonal skills, this practical guide will help you build the relationships you need to keep your apartments filled and the checks coming in. Whether you own one apartment or a thousand, The 7 Secrets to Successful Apartment Leasing reveals proven industry secrets to:

• Hold dynamic telephone conversations
• Resolve objections and concerns effectively
• Get useful information through focused interviews
• Create exciting sales presentations
• Close the deal and create happy new residents

Building trust is the key to filling apartments. Complete with to-do lists, sample scripts, and a guide to nonverbal expressions, The 7 Secrets to Apartment Leasing is perfect for management companies, investors, landlords, and anyone else looking to fill a property with quality residents.

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Product Details

• Paperback: 272 pages
• Publisher: McGraw-Hill; 1 edition (October 6, 2005)
• Language: English
• ISBN-10: 0071462589
• ISBN-13: 978-0071462587
• Product Dimensions: 8.8 x 6.4 x 0.6 inches
• Shipping Weight: 10.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #246,529 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

15 of 15 people found the following review helpful:

5.0 out of 5 stars A must read for all professionals in the apt. biz., January 10, 2000

By A Customer

This review is from: 7 Secrets to Successful Apartment Leasing (Paperback)

Need an edge on your competition? Read this book, use the techniques described and no one will say no to leasing an apartment from you! Whether you have an A plus or C property this book will help. This is a no nonsense, real approach to filling those vacancies and more importantly keeping them full. As a manager I keep this as a bible in my office and require all of my staff, including maintenance personell to read it. It is not just another sales book that teaches the hard close method. It gives you insight into how your customer thinks and once you know how they think, you can get them every time. I highly recommend it to all owners, managers, and leasing consultants.

2 of 2 people found the following review helpful:

5.0 out of 5 stars This book is amazing!, September 11, 2008

By 

Regina "redprncss1" (Austin, TX United States) - See all my reviews

Amazon Verified Purchase

This review is from: The 7 Secrets to Successful Apartment Leasing: Find Quality Renters, Fill Vacancies, and Maximize Your Rental Income (Paperback)

I started in the Multifamily industry over 13 years ago, as a leasing agent. My manager didn't have time to train me at our very busy, class A community in Austin, and so instead gave me this book.
Within the first 60 days, I was competing for the "top leaser" position not only at my own community, but in the entire Texas region.
This book is the most helpful, informative tool leasing professionals and their supervisors can own.
Now, as a Manager myself, I use this to help my leasing professionals who could use a few more skill sets in their repertoire, or could use a refresher to kick start their leasing.
It's the best thing you can buy, and you'll keep it with you for years!

3.0 out of 5 stars 90% Common sense customer service, 10% rehashed convention material~, February 5, 2012

By 

Christopher Barrett "Evil Corgi" (Portland, Oregon) - See all my reviews
(TOP 1000 REVIEWER)    (VINE VOICE)    (REAL NAME)   

This review is from: The 7 Secrets to Successful Apartment Leasing: Find Quality Renters, Fill Vacancies, and Maximize Your Rental Income (Paperback)

I give this three stars because for fresh, new apartment leasing agents, this contains a lot of great material. For someone who has been in the business for awhile, the vast majority is common sense with some material that one tends to hear at leasing conventions around the country.

Granted, I did learn a few things, such as overcoming objections by illustrating deficiencies before the client can object and mentioning a solution or positive to the deficiency. Such as "So the bedrooms are small, but you gain more closet space, only have a neighbor on one wall, and most residents spend a lot more of their time in the spacious living room!" Or "So you probably noticed the road noise. The windows are double pane, so they block a lot of the noise, and with some nice, heavy curtains you should be able to block even that little bit. Plus most of the residents in these units say they get used to it after a week or two, and the street does't have a lot of traffic at night."

So that's a bonus. But a lot of material is standard rehash. Guest cards. Phone service. Standing up to greet guests. Follow up. Good information yes. But nothing new, and nothing that you can't find easily on websites like leasing cafe. Get this if you have employees who really need a refresher or are brand new to the industry.