1. Drop your lead cost to under $50/lead

With more prospective renters shifting their apartment research on-line than ever before, it is important to cast a wide digital net to generate qualified leads. Your marketing campaign should target prospective renters everywhere they look including ILS sites, property websites, real estate blogs, social media platforms, directories, review sites, digital ad networks, and more. At Rose Associates, we not only generate cost effective leads, but maximize lead capture and conversion by utilizing a sophisticated CRM system to maximize prospect engagement and increase lead conversions.

2. Maximize rental rates AND occupancy

Don't assume that your multi-family asset is performing well because it boasts a high occupancy rate or high rents. High occupancy rates often mask under-market rents and high rents can be masking excess vacancy. The only way to ensure market driven pricing is to utilize a revenue management tool calibrated to balance rents and occupancy. At Rose Associates, we take that one step further and overlay a revenue team that has decades of NYC real estate experience and is made up of experienced asset managers, data engineers, and leasing professionals to provide real-time analysis of pricing and inventory fueled by extensive market research. The balance of a revenue management tool and an experienced revenue team has consistently helped Rose managed assets outperform the market.

3. Be strategic about unit renovations

Not all units are created equal and neither are renovations. Before you embark upon a renovation plan it's important to analyze the ROI potential of each unit individually. At Rose Associates, the revenue team works in tandem with the Construction team to evaluate the impact of design selections, construction costs, and renovation timelines to provide owners with an accurate forecast of ROI and ensure that the hard work of renovations translates into a substantial increase in leasing velocity and achieved rents.

4. Reduce tenant turnover

Apartment turns cost money: from cleaning, painting, and fixing, to advertising, leasing costs, broker commissions, renter concessions and potential vacancy loss. The best way to reduce or avoid these costs is to use resident events, enhanced service, and perks to create a sense of community and environment that residents don't want to leave. Rose Associates engages residents with the RoseLife program featuring a unique resident app tailored to each property that allows residents to manage their lifestyle from their smartphone. In addition, residents can take advantage of RoseLife programming designed to activate amenities and build community for residents.

5. Decrease Expenses

Be creative about finding ways to run your property more efficiently to reduce expenses. Commissioning energy audits, buying bulk utilities, performing consistent preventative maintenance, right-sizing staff, and reviewing the property's insurance policy so you don't miss out on premium savings and coverage enhancements are just a few potential cost saving locations. Rose Associates' experienced property management teams are diligent about every detail so that cost savings are realized, and owners understand their properties are in good hands.