When a unit becomes available in your apartment complex, it’s critical that your leasing agent works quickly to get that vacancy filled as soon as possible. Otherwise, there’s a risk of lost revenue. Leasing agent data is incredibly helpful for getting better results for occupancy rates. In this article, we’ll explain why data is so important for leasing apartments.
How Leasing Agent Data Helps You Get Better Occupancy Rates
Leasing agent data is essentially business intelligence about other nearby properties. Basically, it’s what your competitors are doing. Data reports give information on everything from average pricing and concessions to policies and vacancies. Having this snapshot of information about competitors helps leasing agents really hone in on the competitive advantages of your property and vacancies. In particular, this helps with marketing vacancies to the right people and getting leads to pull the trigger and sign that new lease.
Leasing Agent Data Helps You Market More Effectively
Leasing agents are generally responsible for marketing vacancies to prospective tenants. There are many ways to go about this, including social media, rental websites, and even signage. However, part of marketing is driving home a value proposition and making your complex stand out from all the others. How exactly do you do this?
Well, without the right apartment data research, it can be really difficult. Leasing agents may know some of the top bullet points of your complex, but it’s important to compare them to others in the area. For instance, you may think that gym facilities are a major marketing point, but they may not be if every one of your competitors offer gym facilities that are larger and also have a lower price point for their apartments, right? Having data about competitors helps you really understand what marketing points you should focus on to make the community stand out from all the others.
Apartment Data Research Can Help You Sell Leads on Their New Lease
Similarly, data can also help drive leasing activity. Agents with the right leasing agent data at their disposal can use these key points to personalize the sales experience to leads. For instance, they may learn that a particular lead owns a pet and the data about competitors shows that the community’s pet rent is much lower than their competitors.
Having information about the other communities that leads are likely looking at can be a huge advantage. Knowing a little bit about leads and your competition creates a personalized sales experience that leasing agents can use to encourage leads converting into leases. Therefore, apartment market data can also make leasing agents more effective at selling why prospective tenants should sign on with your apartment community.
Top Quality Apartment Market Data from Apartment Data Services
When you need up-to-date, accurate data about apartment markets across the nation, choose Apartment Data Services. We contact all the properties in our extensive database monthly to get competitive intel about markets and competitors so you are always informed on the latest trends. Our team is here to make leasing, property management, and investing for the multifamily industry easier through sophisticated data solutions. Contact us now to request a free demo!