Lease Expiration – Smoothing the highs and lows

By the Operations Team, Summerfield Management

The occupancy roller coaster is one of the worst rides an apartment community can take.

There’s no fun in watching your NOI soar, only to plunge back down when the leases you signed to achieve those numbers all expire at the same time.

It’s important for your Property Management company to know your goals, and to provide a strategic lease balance plan.

1. When is the hottest season to lease?
2. Is this season hot for all unit types or do hot seasons vary?
3. Does the property have any unique competitive advantages?
4. When does new leasing traffic slow?
5. What drives these changes? Employment contracts? School? Weather?

This is a small sample, normally you’ll want to consider 8+ factors in order to create a lease expiration plan that can smooth out the highs and lows.

Ready for a better Property Management experience?

Schedule a time to chat with us.

This 15-Minute call can’t save you 15% or more on car insurance, but it could be the first step to seeing more money from your investment property.

Trevor Manning

Northwest Region

tmanning@smfield.com

503-867-5214

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Summerfield specializes in the management of apartment properties that are approximately 125 units or larger, and is licensed to manage in Washington, Oregon, Idaho, Florida, Georgia, & South Carolina.

If you would like to discuss additional specifics of our management program, please reach out to our Managing Director, Robert Parmar at rparmar@smfield.com or call 770-628-5943.