Residential Property Management/Raising Rents Webinar

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Question
Hi Doug;
I listened to your recorded webinar. Very informative. Question I have is, you state to ROUND UP the rent. Do you mean when speaking to a prospect and my 1 bedroom goes for say $945 I quote it at $950? Or do you mean only in a RENEWAL situation.

Answer
Hi Sherri,
Thanks for attending the webinar; I'm glad you found it informative!I'm suggesting rounding up prices to end in a "9". If your apartment home leases for $945, I suggest repricing it to $949. Most people do not see the "extra" $4.00 as an issue, and yet if you go up $5.00 to $950, that sounds and feels more expensive than $949! I would do this for all pricing.

I hope this helps clarify and thanks for writing!

Doug

Residential Property Management

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Doug Chasick, The Apartment Doctor

Expertise

I can assist property management professionals ONLY (I DO NOT ANSWER QUESTIONS FROM RESIDENTS/TENANTS) with anything related to the management, marketing, leasing and general operations of multifamily properties with at least 100 units. PLEASE NOTE: I am NOT an attorney and CANNOT offer any assistance to residents by answering questions about your business relationship with your landlord - I CANNOT ANSWER QUESTIONS ABOUT YOUR LEASE. Please visit me at www.aptdoctor.com / www.twitter.com/aptdoctor

Experience

36 years experience in managing, leasing, marketing and acquiring all types of investment real estate, with a focus on multifamily properties. I have managed portfolios in excess of 28,000 units

Organizations
National Apartment Association, The Institute of Real Estate Management, National Association of Home Builders, Apartment Association of Greater Orlando.

Publications
Co-author of the book, "How To Excel in Leasing", Journal of Property Management, UNITS Magazine, Sales & Marketing Magic, www.NOINews.com, Managing Apartment Letter, Professional Apartment Management, Fair Housing Coach.

Education/Credentials
Certified Property Manager (CPM), Certified Apartment Property Supervisor (CAPS), Certified Apartment Supplier (CAS), Synchronous Learning Expert (SLE), Certified Distance Education Instructor (CDEI), Advanced Registered Apartment Manager (Adv. RAM), Certified Leasing Professional (CLP), Licensed Real Estate Broker in Georgia and Florida, Licensed Fair Housing Expert Instructor, Virginia.

Awards and Honors
2010 NAA Apartment Careers and Education (ACE) award recipient; 2010 "Legends of the Industry" award from Multifamily Pro/The Annual Brainstorming sessions.

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