Apartment We Lease
Class A Property Leasing
We Lease Class A Communities and Luxury Apartments
What is Class A?
While building categorizations vary by market, Class A apartments are the defining classification. Typically, they are the highest quality luxury apartments on any given market. There are no universally agreed-upon criteria for determining building class. In any area, it is a relative scale for the existing properties. Despite the lack of official qualifications, classification is based loosely on the following general credentials:
Age: Usually, Class A apartments are less than 10 years old.
Aesthetics: These buildings have the best construction, both in terms of looks and infrastructure.
Location: Class A properties are located in accessible, ideal, and professionally managed areas that are most convenient and desirable for living.
Amenities: More availability of amenities in the area (i.e. dry cleaning, restaurants, grocery stores) as well as in the buildings themselves (backup power, security, floor load capacity, parking, HVAC capacity, etc.) also set Class A buildings apart from others.
Maintenance: As is expected, Class A apartments offer not only the highest quality buildings but also the most readily available maintenance and management staff.
Cost: With the high quality comes a higher cost in most cases, but for a good reason.
Other classes are determined relative to the Class A properties in an area. However, renovation can turn a Class B building into Class A depending on the location. Value-added investors often improve the area with techniques such as common area improvements. In a nutshell, Class A properties are the highest quality apartments.
Who is usually a Class A Resident?
As the word “luxury” suggests, Class A properties typically garner a wealthier clientele. Overall, the residents are white collar workers and usually renters by choice. With this in mind, these residents are still looking for the biggest return on investment. The market has simply driven away many of the members of this demographic from purchasing a home of their own. Since 2008, home ownership simply hasn’t been worth it for the wealthier crowds. Some homes are either incredibly nice but overpriced or cost-efficient but a gamble in terms of quality. Currently, renting high-quality housing makes the most sense for Class A residents.
Best Leasing Strategies for Class A Properties
Research indicates that Class A communities are more likely to come with “larger, more sophisticated residents who will have more power and capability to design and build out the space to fit their needs.” Leasing agents need to know how to make an incentivized leasing program that future residents feel are tailored to their needs, as these tenants have more options. Carefully organizing payment and utility structure within the lease is also important to the success of Class A leasing. Class A multi-family units in particular, since they have proven a driving force in the recovery of the real estate market, are a much more worthwhile investment. These units are part of a larger “green” movement in real estate that has proved a trend for apartment communities. With a greater investment comes greater quality, and with greater quality comes a greater occupancy.
The right leasing and management team is integral to the success of these luxury properties. Sales, Inc. leasing consultants are already highly successful experts in addition to our extensive training in leasing techniques, making our leasing agents are a safe investment for any property. Property managers of these units are held to a higher standard, so leaving the leasing to a company with an equally high caliber of employees only makes sense. In addition to prior success, our leasing agents receive extensive training and continuous feedback from us to improve efficiency after only a two-day period to get familiar with the area. Beyond the number of selling points that make these apartments the cream of the crop, potential Class A residents will feel affirmed in their choice to rent these properties knowing that the people employed are just as high in quality.