There are two very different views that Landlords in general espouse to. One view: get a good Tenant in my property. The other side of that view is, I need money now, just get a Tenant in as quick as you can. This polarized view is the “management for occupancy vs. management for income” debate.
Anytime we make decisions based on our personal need for money, it can often backfire. Part of our mission statement is to see that our owner’s property values are safeguarded and enhanced. In an age of constantly decreasing property values, the strength and quality of the tenant becomes the true value of the property.
Our in house statistics reveal that we approve only 25% of all Tenant leasing applications that we receive. That’s 1 out of 4 folks. The statistics also reveal that we only receive an application from 1 out of every 8 showings we have. Oh sure, we could throw just anyone into our owner’s properties. That would be called management by income. Our eviction rate is amazingly well below industry average. Why? We promote the management by occupancy philosophy. After all, it is in line with our mission statement:
“To provide first class property management services to our Owners and Tenants so that our clients’ property values are safeguarded and enhanced.”