Tony LeBlanc serves as CEO & President of Ground Floor Property Management, a growing firm with 1,300 doors on Canada’s East Coast. In this informative chat, Tony explores some of the keys he uses for successfully navigating rent increases, even in challenging markets. He also shares his input for managers looking to bolster tenant satisfaction in the face of impending rises in rent.
Equip Yourself with Some Powerful Insight:
- Learn how to combat the fear of loss without using pricey incentives.
- Steer clear of the cycle of suck by taking proactive action on a yearly basis.
- Playing catchup is impossible—see how one tenant’s procrastinating put his property underwater.
- Treat every property as a mini business: income should increase as expenses decrease.
- Don’t be afraid to disturb the norm—use these simple tips to keep tenants satisfied.
Even with the right perspective, implementing price increases can still prove tricky. Follow Tony’s simple guidelines to pull them off without a hitch:
- How to know your market: learn the importance of analyzing local property trends.
- Discover the one simple lease clause that can dramatically change everything.
- Manage expectations from the start—are you verbally reviewing these vital keys with your tenants?
- Apply Tony’s simple 80-20 rule: when is a rent increase not appropriate?
- Find out how to create an automated system for handling upcoming increases.
- Use your office staff to your advantage. Learn to consolidate your system based on bandwidth.
- Explore how selling yourself as the expert impacts retention rates.
- Throw out the old adage, “No news is good news.” Discover how this approach tanks business.
- Looking for money? Identify your #1 sales prospect with this simple tip.
This video interview is packed with actionable wisdom from an active property manager juggling hundreds of doors and rapidly expanding. Learn from the best of the best, and discover how Tony positions himself as a trusted partner for clients. Not only will increasing rent provide more income for your customers, but it also impacts your profit-per-door—that’s what we call a win-win.
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