Every operator wants rent growth. Rent growth, rent growth, rent growth. Ok, ok, ok. I understand. Year over year rent growth is the most important driver of revenue growth. How do you get it?
1. Renewals. Always at the top of the list. Nothing keeps income ticking like retaining in-place residents. Start the renewal process early. Recognize this as your number one tool for maintaining stabilized occupancy.
2. Resident screening. Our customers make or break our business. Set your standards, stick to your standards. This ‘great recession” has created the need for some changes in credit underwriting but not so much as to bend past the point of reasonableness.
Read more...5 Multifamily Rental Revenue Growth Strategies | Multifamily Insight Blog
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