Tuesday, July 20, 2010

Apartment Leasing Tips - Qualifying Step 3 of the Apartment Leasing Process

Qualifying is the evaluation of the Prospect to determine their suitability for The Apartment Community Criteria. Your apartment community should have a written Resident Selection Criteria signed by the Prospect. This Resident Selection Criteria will be the measurement standard before their apartment rental application will be approved.

With that being said, keep in mind this is not an interrogation. Treat the Prospect with respect, and do not throw out demanding questions to them. Have a well planned and developed guest card that will ask the questions you need. Advise them you want to find them just the right apartment home and you need to ask a few questions.

To qualify the Prospect you will need to know the when, why, what, who and how.

1. When do they need to move into their apartment home? Will you have the size of their choice available?

2. Why are they moving? You may be able to use this information to help point out the reasons to help you during the closing process.

3. What things in particular are they looking for in their apartment home? How can you possibly help them find the right home for them without asking this question?

4. Who will be occupying the apartment home? You may need to let them know where the school bus picks up in the apartment community. Or other necessary pieces of knowledge they’ll need to know to show that this is the right apartment home and the right apartment community.

5. How did they hear about your apartment community? You spend many dollars to make the phone ring or create a traffic visit, so you need to know if the advertising dollars are working for you.

While reviewing the guest card with them, and asking the qualifying questions, this is the time to build rapport. Ask where they work or if they will be bringing a pet with them, making it conversational. People will rent from you because they like YOU so building rapport with the prospect is very important.

A lways
B e

C losing

Section 42 or LIHTC communities have income restrictions. Here is my recommendation on explaining the income restrictions:

Blank Community was built or renovated under a housing program that does put guidelines on the annual income in order to qualify initially. Those guidelines are determined by the total number of people in the household. How many people will be living in your apartment home? A household that size has income guidelines of________. Do you think you will qualify?

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