Why High Apartment Rental Occupancy can become a Real Killer for Landlords
Summary
" Thomas Christensen, an independent contributing writer and researcher for LandlordSupport.com, conducted a survey of over 40 large apartment properties analyzing the real costs associated with unit turnover.Using an average monthly rent of $645, he found the total unit turnover cost was approximately $2,700."Thomas Christensen, an independent contributing writer and researcher for LandlordSupport.com, conducted a survey of over 40 large apartment properties analyzing the real costs associated with unit turnover.Using an average monthly rent of $645, he found the total unit turnover cost was approximately $2,700.Look at these two examples.Improve customer service.When marketing a rental property, youre selling a lifestyle not just an apartment unit.Residents that buy into a lifestyle will remain living at a property three times longer than residents buying a pit stop.Keep building and improving your propertys lifestyle and watch your resident retention and cash flow quickly improve.About the author:Craig Haskell analyzes apartment investment and management issues and publishes his results in a free weekly electronic newsletter entitled, "Tip of the Week.