There are certain things one needs to do in apartment management Tampa to make the most out of their tenant referral programs.
With the way the economy is; it is vital that a property manager does several things to keep his vacancy rates low. Tenant referral programs are a great way of keeping the occupancy rates high. However,one must bear in mind that when offering monetary incentives the money offered must form a significant percentage of the renter's monthly rent.In this aspect, a 20 percent of monthly rent is considered motivational as a monetary incentive for referring friends and family members.
One must also get as creative as possible for these tenant referral programs to work: for example one may consider that the incentives be offered to outside public as well as the current residents.Similarly one may consider paying these incentives on a per tenant basis rather than a per unit filled basis?
Naturally, one must also be cautious while using tenant referral programs. It is important to consider the background and the payment history of the referring tenant as well as the referred tenants. There is always a chance that the referred tenant may also be as noisy or pay his rents late as the one that has referred him. At the same time, one must also abide by the Fair Housing Act rules when using these programs for filling vacancies.
