Costs can spike when you do not attract the right Tenant demographic.
Driving down operational costs by controlling delinquency, reducing turnover, and minimizing upkeep starts with marketing to the Tenant that fits your property’s asset class.
So who is your ideal Tenant and how do you reach them?
Your Property Management company should be able to assist you in assessing this. As a matter of course, you will want to market to the top tier of the demographic that fits your asset class.
Filling your building with the most suitable residents minimizes turnover costs because your Tenants can afford the current rent and absorb future rent increases.
There’s no right or wrong kind of Tenant (as long as they pay rent on time and don’t cause property damage), but you can see how marketing to your ideal demographic will maximize cash flow, right?
Summerfield’s Portfolio Managers are educated on the markets they operate in and can help guide you in marketing your building to the right Tenant for your asset. Owners decide how an asset is managed, but we’re here to contribute our experience and expertise.
Regardless of your asset class, recognizing your ideal demographic and filling your building with as many of them as possible will help you exceed your ROI goals. Why not work with a company that understands long-term success requires a smart strategy, not just filling units?
When you’re ready for a better Property Management experience, give us a call.
