Most property management companies (PMCs) can only keep three-quarters of a big apartment building rented out at a time. Due to the tight labor landscape and constant repetitive work, they can often feel short-staffed and are forced to do more with less.
However, one core structural element, that is centralized leasing, can change all of that. It offers PMCs a way to use technology to streamline their tasks, freeing their teams and allowing them to put their attention towards providing better service to their clients.
Here are five benefits that Centralized Leasing can offer to property owners and management companies.
Capturing Leads Quicker
Rather than having a single leasing agent handling prospective tenants and capturing leads, you’ll have an entire team focusing on a portfolio with centralized leasing.
If one leasing agent is busy with a client or on a site visit, other agents will be available to respond to different leads, which significantly increases lead retention, and eventually, lead conversion.
Providing More Options to Renters
A big challenge leasing agents often face is when a prospective tenant does not find a unit that matches what they want, the leasing agent is only able to show options within the building they’re assigned to.
With centralized leasing, the team covers the entire portfolio of properties. So, if a prospective client decides they don’t like a certain unit, the leasing agent will be able to put out numerous different options. This ensures that the lead isn’t lost at all costs.
Marketing, with Consistency
Centralization doesn’t only help your leasing agents deal with renters; it is also better for your brand. When a single, centralized team manages all leasing activities and uses marketing automation, it delivers a consistent message from your brand.
One of the most important tenets of building a brand and marketing is consistency. By taking that burden off of onsite teams, you’ll be able to create a dependable and uniform experience that builds trust with residents and prospective tenants alike.
Improving Customer Service
For property managers, tenants are customers of the housing services they provide. The best way to retain customers is to provide them with viable, alternative options as needed. Retaining good tenants can significantly lower marketing and vacancy costs.
Instead of letting them reach out to other property managers, you can provide them with alternative housing solutions or offer new spaces within the building or your portfolio. This reduces the tenant’s time investment and effort required to find a new rental.
Higher Cost Efficiency and More Returns
One of the many good results of centralized leasing is the excellent cost efficiency. You won’t need to have a high staff count, instead, you’ll be able to run a tighter, more experienced, and more efficient team.
Delivering lower vacancy rates with lower staff overheads is how you’ll be able to make better returns for investors. Centralized leasing lets you calculate asset return, asset management, and reporting efficiently by leveraging technology.