When would it be MOST beneficial for a leasing professional to know what competing properties offer?

Understanding the offerings of competing properties is particularly beneficial when a resident submits a notice to move into a nearby community. This situation presents a critical opportunity for the leasing professional to engage with the resident, addressing their motivations for leaving and potentially providing counter-offers or highlighting features of their own community that may not have been fully considered.

Knowledge of competing properties allows the leasing professional to articulate the unique advantages and amenities of their own community, addressing any gaps compared to the competition. It can also lead to strategies for retention by offering solutions that meet the resident's needs or preferences that the competing property may fulfill. This proactive approach not only informs the conversation but can also potentially sway the decision of the resident to stay, thus reinforcing the importance of being aware of what competitors offer.

In other scenarios, while knowing about competing properties can still be useful, it is less immediately impactful. A prospective resident asking about amenities is an opportunity to showcase one’s property directly without a competitive comparison at that moment. A prospective resident returning to sign a lease may already be sold on the property, and the need to discuss competitors is less urgent. When the maintenance team prepares units, knowledge of competing properties is not relevant to their operational tasks.