1. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY E-mail with attachments

2. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY How to fill out: The weekly source of traffic report The weekly measurement report

3. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Staffing -- Sufficiently Trained or Under-trained?

4. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Sales: Tenure of Labor

5. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Sales: Insufficient Labor – Call Centers

6. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Competitive Rent Analysis and Pricing

7. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Net Effective Rents

8. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Availability Specific by Floor Level

9. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Price Weekly

10. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Price Ranges Based on Supply, Demand and Location of Other Income Producing Fixed Assets

11. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Pricing Structure Base Rents + Amenities + Premiums = Street Rent by Address

12. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Flat Line Pricing = No Absorption Velocity

13. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Consumers Make a Value Choice

14. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY “Consumers form their price image of providers by their shopping experiences. It is this price-value perception that drives consumer behavior.” Source: Tim Flanagan, The Partnering Group

15. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY “Desire, along with utility and scarcity, is considered in relation to purchasing power.” Source: The Appraisal of Real Estate- Eleventh Addition Appraisal Institute

16. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Supply [or Inventory] What’s Your Inventory Management Strategy? High Low

17. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Dumping Inventory

18. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Days Required for Sufficient Notice

19. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Lease Status: Month-to-Month

20. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Lease Status: Corporate Leases

21. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Minimize Congested Activity

22. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Lease Signing Appointments

23. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Strategy: Every great organization has a strategy before it embarks on a mission.

24. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY What’s Your Leasing Strategy?

25. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Do you reward the behavior that’s in the best interest of the real estate asset?

26. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING WITHOUT CONCESSIONS

27. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Leasing Strategy Address Selling

28. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Price Sheet

29. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Price Sheet with Effective Dates

30. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Leasing Strategy Point of Depletion

31. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Minimizing Hold-Time Period on Possession

32. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Excessive Income Erosion

33. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Product Differential – Sell Towards Your Asset’s Uniqueness

34. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Model Apartments Should You Have a Model Apartment or Not?

35. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  YES! When the floor plan unit mix exceeds 50%.

36. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  NO! If you have fewer than 220 apartments.

37. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Model apartment homes should always be on the first floor except when the unit type access is only on the second or higher floor level.

38. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  300 – 400 units should have one model.

39. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Put the model in the unit type that historically has the most availability (“Screaming Mimi”).

40. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  For models, use an interior designer that will make it ‘real’ using items found at places that people shop.

41. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Three Types of Concessions 1. Value Added 2. Tangible Goods 3. Free Rent

42. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Homogeneous Groups Availability Profile Case Study

43. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY

44. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Income Classification – Concessions Can Be Recurring or Non-recurring

45. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY “Sluggish purchasing power keeps the pressure on supply in check. If purchasing power expands, the supply of a relatively fixed commodity will dwindle and create a market-driven demand to increase the supply.” Source: The Appraisal of Real Estate- Eleventh Addition/ Appraisal Institute

46. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Each Percentage of Occupancy has a Corresponding Level of Rental Rate

47. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 Market Demand Curve Specific Unit Type $1000 $950 $900 $850 $800 $750 $700 $650 $600 $550 $500 80%85%90%95%100% Occupancy Rate Average Rental Rate L1 $740 $730 $710 $690

48. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 Market Demand Curve Specific Unit Type $1000 $950 $900 $850 $800 $750 $700 $650 $600 $550 $500 80%85%90%95%100% Occupancy Rate Average Rental Rate L1 Occupancy Rate Corresponding Rent

49. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 Market Demand Curve Specific Unit Type $1000 $950 $900 $850 $800 $750 $700 $650 $600 $550 $500 80%85%90%95%100% Occupancy Rate Average Rental Rate $775 L1 L2

50. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 Income Management Performance $1000 $950 $900 $850 $800 $750 $700 $650 $600 $550 $500 80%85%90%95%100% Occupancy Rate Average Rental Rate L1 L2 L3 $825 $775

51. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY “A market in which the forces of supply and demand are in balance will result in prices significantly different from those produced by a market in which supply and demand are out of equilibrium.” Source: The Appraisal of Real Estate- Eleventh Addition/ Appraisal Institute

52. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY “Sluggish purchasing power keeps the pressure on supply in check. If purchasing power expands the supply of a relatively fixed commodity, it will dwindle and create a market-driven demand to increase the supply.” Source: The Appraisal of Real Estate- Eleventh Addition/ Appraisal Institute

53. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Decisions: Concession? Change Net Effective Rent? Specific Address?

54. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Consider discretionary discounting to build market share.

55. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Look in the mirror … is it the market or is it our behavior?

56. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Playing the Pricing Game

57. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  First, ensure market demand

58. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Second, inspect available apartment inventory and question whether it meets the expectations of management.

59. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Third, show only unassigned vacants for a greater closing ratio.

60. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Fourth, take steps to ensure that sales training becomes more concentrated and focused on service.

61. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Fifth, categorize your apartment addresses in homogenous groups.

62. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Sixth, price specific apartment addresses with the longest days vacant at a lower price [net effective rent, not a concession] with the condition that the offer expires within 48 hours.

63. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Seventh, reward leasing professionals with higher bonuses on leases with no concessions offered.

64. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY  Eighth, re-contact potential lease renewals one at a time.

65. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY RESOURCE DIRECTORY www.SMMOnline.com www.Realhound.com www.e-tsonline.com www.TheMarketSherGroup.com www.TrendLook.com www.BeaconTech.net www.ApartmentExpert.com www.SatisFacts.net

66. © Bravo Strategic Marketing Inc., 2002 Contact: 704.332.7042 LEASING & MARKETING MULTIFAMILY Jennifer A. Nevitt 775. 786. 4242 or 704. 332.7042 Info@BravoStrategicMarketing.com Info@ApartmentMarketingCoach.com