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Originally appeared inNew Mexico Apartment Report Vol. 5.1 - Q198
Property Profiling is a new product developed by Todd Clarke. The concept is simple - occupancy rates are declining - more product is coming on-line - tenants are purchasing houses - all of these factors lead to poor property performance. Historically, we have always depended on rent concessions and marketing to increase our occupancy. Today's market requires successful properties to position themselves in a "niche" that separates that apartment community from the other 70,000 units in the marketplaces. In property profiling, we systematically breakdown the components of your property that appeal to tenants and develop linkages between your property and prospective tenants. Linkages are common needs that your property supplies that a prospective tenant requires. A linkage might be close proximity to their employer, shopping, cultural amenities, nature, etc. Property Profiling also provides suggestions on amenities, interior and exterior condition, marketing, and other day to day changes that can be implemented to increase the overall occupancy of the property. The cost? Dependent upon your needs (and records), the property profiling costs between $1,500 to $4,000 on average (dependent upon if a tenant survey is completed). Call for a free visitiation and estimate.

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by Todd Clarke CCIM (www.nmcomreal.com/nmcomreal)
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