One of the best times for owners to call on Sales, Inc. is when they decide to sell a property. No matter the reason behind the sale, any broker will tell you that the higher your occupancy, the easier it will be to sell. Recently, a broker that was hired by an owner suggested they call on Sales, Inc. to get their occupancy rate up before they put the property on the market. When our Leasing Expert arrived on the property, occupancy was at 72%. Because of our proven accelerated leasing program, the Sales, Inc. Leasing Expert was able to triple applications and move-ins within a matter of months, leaving the property 95% occupied at the end of our term. The owner was so pleased with the results, they told us they would have tried to hire our Leasing Expert were they intending to keep the property. In addition to now having a property that will be more desirable to prospective owners once they put it on the market early in 2015, that owner increased his own annual revenue on the property by over $330,000. These are results that the owner had tried to achieve on his own for several months. But, after getting the nudge from his broker, he finally made the call to Sales, Inc. Call on Sales, Inc. now to find out how our team of Leasing Experts can help you better position your property to sell. Our proven techniques can help you increase the revenue on recently purchased properties as well.
A lender recently foreclosed on a C property in South Atlanta, GA and began marketing the property. The property was 84% occupied at the time. They found a buyer that secured financing contingent on the property being leased to a minimum 92% occupancy. The lender had contracted a national management and leasing firm to not only manage the property but also to get the occupancy to the prescribed 92% prior to closing, which was 90 days out.
After 60 days, the property was only 86% leased. The prospective buyer contacted the seller and suggested they contract with Sales, Inc. if they intended to sell the property on the closing date. Sales, Inc. was brought in with less than 30 days to go. We assigned a Sales, Inc. Leasing Expert to the property and immediately the numbers went up. Within two weeks the property was at 89% and two weeks later, just in time for the closing, we achieved the all important 92%. The sale closed as scheduled! The seller got out from under a property they did not want. The buyer got not only a property they did want, but because they left us on the property for an additional two weeks beyond the closing date, they got a property that was 95% leased!
Sales, Inc. was chosen to lease a property following the addition of four new buildings on a 320+ unit conventional community outside Richmond, VA. Prior to our arrival, the team had been taking 20 applications every 30 days. There were 121 vacancies and 22 on notice. After our arrival, we took 227 applications in 114 days of leasing (literally tripling the previous results) with a 64% closing ratio. Sales, Inc.’s efforts allowed the property to reach stabilized occupancy within the client’s pro forma guidelines.
Sales, Inc. was contracted by Trinity Management in 2009 to provide training for the company’s Leasing Managers. At that time, Trinity’s properties as a whole were 84% occupied in a market that averaged 86% at that time. Sales, Inc.’s founder Stacy Crook was to provide three training sessions throughout the year. After the first two sessions, just six months into the contract, Trinity’s overall occupancy was above the market average, having risen to over 88%. The contract has been extended and today, Trinity enjoys a 98% occupancy across their portfolio, well above the market average in the low 90% range. Eight of their 12 properties are now 100% leased.
Sales, Inc. has leased many student housing properties in our 26 year history. We have learned a great deal over that time and recently applied all that we have learned to help a new student housing property reach its goals.
This 200 bed project had many obstacles to a successful lease up. Sales, Inc. was brought to the project late in the leasing cycle, while the property was still under development and it wasn’t scheduled for completion until just prior to the next school year. The leasing office was one small room in an out of the way location, not near the property. Not only was there no apartment, or even a representative unit to show, there were no examples of finishes or furnishings to present. Because students wouldn’t find us near or at the property itself, we had to take the proverbial bull by the horns and go find the students. Our leasing team created a mobile leasing center and hit the campus. The Leasing Experts engaged the students whereever they could be found. We set up our Mobile Leasing Center in the Student Center, the Student Life and Activities Center, on various quads, at campus events of all kinds, during and after hours. One of our Leasing Experts made a video of the project and its development which was always playing on a widescreen tv wherever our Mobile Leasing Center was set up. We gave presentations to all types of clubs and organizations around campus, to include the Greek community and athletic teams. Our efforts helped bring about a policy change at the school, allowing some freshmen to live in the office campus property. This greatly improved the property’s ability to fill up for the next school year. Due to all of these efforts, our Leasing Experts made an immediate impact leasing over 4 beds per day for the first 18 days and achieved the results the property’s investors had initially envisioned.