- Q. How do you identify comparable properties?
- A. many site managers struggle with low with how to do this, especially when dealing with an existing property. It is important to look for commonalities in age, building type, price point, amenities and floor plans. However, the most effective way to identify comps is to ask your prospects and your former residents (at the time they give notice). For example:
- “Where else have you looked for apartments today?”
- “I’m sorry to hear you’re moving, what community will you be calling home next year?”
- “Since you didn’t rent from us, do you mind telling me where you did rent?”