How Increased Competition Led To a Bullet-Proof Apartment Leasing System
A few months ago, I made a post worried about how a new leasing agent competitor within the multifamily portfolio I work for was going to have a big impact on my personal income.
But it didn't, it accelerated it.
I didn't realize that there is an enormous entry barrier to getting to know all of these properties and how they all work, let alone how to sell all of these renters. It is an enormously overwhelming thing being told to just go rent apartments in 150 buildings and not know a single thing about them.
So while I went into survival mode, the increased competition was an illusion. Because the only person who really knows how to rent the specific buildings in this portfolio is myself and one other person who's worked there for 18 years.
What was the solution to increased competition?
1. Personalized text message automations to each renter that inquires about an apartment on a listing website that nudges them to click a link to schedule a tour, received within 60 seconds of their inquiry. If they inquire about a second apartment that is within our portfolio, it sends them another (different) message telling them that I am the person who deals with this listing as well, therefore they start to know that the person who has the apartment they want is ME, and they should only deal with me.
2. On top of those personalized text messages, I hired 3 employees to also call these renter leads within 60 seconds of them inquiring and ask them if they received the link, and if they will book a tour directly on the phone. This absolutely skyrocketed the amount of tours we got. These 3 employees work Monday through Sunday 9 am to 9pm calling renters immediately. The way that we make sure they don't get tired is by cycling the employees out. While one is working the other is resting etc.
3. After they book a tour, there is automations that are confirming the appointment for them with another text message and I take over the communication. The form they fill out qualifies the lead and allows me to easily cancel non-qualified renters and only speak with renters who are qualified, therefore filling my calendar with 15+ qualified hot renter leads in a single day that actually attend tours with me.
The Result
My monthly income in March, April, May is $20,000+ with May (next month) being the highest I've ever had it ($24,000).
My total business + living expenses per month combined are $6,500 to $7,000 on average, so my take home after all expenses before tax each month is usually around $15,000 ($17,000 in May)
A few months ago, I made a post worried about how a new leasing agent competitor within the multifamily portfolio I work for was going to have a big impact on my personal income.
But it didn't, it accelerated it.
I didn't realize that there is an enormous entry barrier to getting to know all of these properties and how they all work, let alone how to sell all of these renters. It is an enormously overwhelming thing being told to just go rent apartments in 150 buildings and not know a single thing about them.
So while I went into survival mode, the increased competition was an illusion. Because the only person who really knows how to rent the specific buildings in this portfolio is myself and one other person who's worked there for 18 years.
What was the solution to increased competition?
1. Personalized text message automations to each renter that inquires about an apartment on a listing website that nudges them to click a link to schedule a tour, received within 60 seconds of their inquiry. If they inquire about a second apartment that is within our portfolio, it sends them another (different) message telling them that I am the person who deals with this listing as well, therefore they start to know that the person who has the apartment they want is ME, and they should only deal with me.
2. On top of those personalized text messages, I hired 3 employees to also call these renter leads within 60 seconds of them inquiring and ask them if they received the link, and if they will book a tour directly on the phone. This absolutely skyrocketed the amount of tours we got. These 3 employees work Monday through Sunday 9 am to 9pm calling renters immediately. The way that we make sure they don't get tired is by cycling the employees out. While one is working the other is resting etc.
3. After they book a tour, there is automations that are confirming the appointment for them with another text message and I take over the communication. The form they fill out qualifies the lead and allows me to easily cancel non-qualified renters and only speak with renters who are qualified, therefore filling my calendar with 15+ qualified hot renter leads in a single day that actually attend tours with me.
The Result
My monthly income in March, April, May is $20,000+ with May (next month) being the highest I've ever had it ($24,000).
My total business + living expenses per month combined are $6,500 to $7,000 on average, so my take home after all expenses before tax each month is usually around $15,000 ($17,000 in May)
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
