Social Media is About People
First Rate Property Management participates in some social media. By no means do we use social media as much as the marketing experts would like us to. From what little social media we have done, we have had very little results. However, we continue to attend these training seminars and understand that it certainly appears to be where many people are headed, especially the younger generations. At a recent meeting, a company by the name of Social Eyes showed the below video. I found it to be very powerful and I thought I would share with everyone.
First Rate Property Management Vacancy
Our vacancy rate for the second week of February 2012 is 2.7%. The inquiry rate on our available rentals is picking up. However, our application rate has not as a majority seems to be looking for something down the road a month or two. So the inquiry to lease ratio has dropped. We review these types of rental metrics on a weekly basis to identify trends and make adjustments. In most cases, we are recommending a one-time rent decrease or perhaps a small move-in incentive to increase the inquiries.
The graph below depicts gathered vacancy rate data to date, click to enlarge.