“Keeping competitive with your product and sales efforts involves three key components,” Goldshine told MHN. “First, being an expert in your marketplace in terms of product, people and presentation. Also, it means obtaining current and accurate marketplace data and being able to analyze it in relation to rent levels and market trends. Finally, it means training and developing your teams to retain current customers, close sales, become experts in their respective markets, and offer superior customer service.”
Expertise in a marketplace means that multifamily property managers need to differentiate their product and lifestyle offerings to their prospects. “Renters have more choices than ever, renting lifestyle amenities that offer a convenient lifestyle,” Goldshine said. “From dog walking to personal trainers or dry cleaning services, prospective renters need to be sold on the value they’re getting for their rent.
“Every property has value to offer, and we just need to make sure we’re identifying what that value is and selling it,” he added. “Some basics that can be focused on are property appearance and curb appeal and quality customer service.”
Currently NOVO manages of a portfolio of roughly 2,000 apartments mostly on the Eastern Seaboard, including properties in Washington, D.C.; Philadelphia; Charleston, S.C.; Chicago; and on Maryland’s Eastern Shore. The company has also recently hired John FitzGerald, partner, acquisitions; and Neil Goradia, director, acquisitions.