SOUTH FLORIDA: Trick For Boosting Rental Revenue
In a world of apartment-rating sites such as Yelp, and social media, where luxury resi owners and developers have to maintain stellar reputations, property managers around the country don't have to think about what level of customer service to pay for: It must to be top of the line, according to LCOR property management director Kathy Masteron. That means fast completion of work orders, attentive maintenance, and small perks like designer coffee in the lobby 24/7.
The online attention also pays off with higher long-term IRR via higher traffic and lower advertising costs. An unquestioned reputation for quality customer service also means above average retention and referrals. LCOR's 285-unit, garden-style Lincoln Pointe in Aventura is 23 years old and thus goes without all the latest amenities—yet J Turner Research just named it Miami's best rental property.