Market rate apartments are those rental units that command the prevailing market value for rent.  These units are typically the bulk of available units for rent in a market, and as a result are often the most challenging for market rate apartment managers to manage and lease.  Leasing and managing units in this highly competitive environment means paying attention to the details.  If you’re an owner interested in hiring an apartment building management company there are a few areas where you should focus to ensure a successful relationship with your chosen management partner. 

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We’ll focus on the leasing side of market rate apartment management as many owners struggle to attract qualified, long-term, quality tenants to their properties.  The skill sets needed, the connections successful leasing agents have in the community, and the ability to highlight the benefits of an available unit and surrounding area are just the beginning.  A qualified market rate apartment management company’s leasing team will be proficient in many areas of residential leasing.  The information that follows are just a few of the building blocks used by Ciminelli, a leading management company in the industry.

Be Specific:

An approach that focuses on the volume of leads delivered, without thought to the quality of the leads, is typically destined to fail.  While a steady flow of new leads is needed, focusing on the details to identify specifically who you want to rent to, and then working to find the places they gather and consume advertising messages is an invaluable skill.  A leasing agent that understands the potential renters in the area, their wants and needs, and how to reach them will create demand for your units.  The result will be a fast lease up process and buildings that are near full occupancy most of the time. Our leasing agents are proficient in these skills, landing you high quality tenants.

Social Media:

To help communicate with these specific prospects, our apartment management company is taking to social media.  These outlets have allowed potential renters, current tenants, building owners, and managers to communicate quickly and easily on all things related to your property.  Managing the image of the property, responding to concerns and accolades, and communicating available units is a time consuming task, but social media pays big dividends to those companies that use it to their advantage by relying on Ciminelli.  We are well-established in these areas with a track record of activity.

Existing Tenants:

Relationship with existing tenants will also separate the best of the best market rate apartment managers from the rest.  Your existing tenant base is a known relationship, you can easily understand the needs, the revenue, the cost to service and you can bet they know other potential renters that are much like them.  These existing tenants can be put to work by a skilled management company, like Ciminelli, to provide very low cost leads that will almost always be qualified and of high quality, eliminating the cost and frustration that results from other lead sources.  Special events to gather tenants, tenant appreciation programs, and casual interactions with tenants should be a mainstay of a successful management company. These are areas that Ciminelli aims to strive for, to be of the best service to your tenants.

There are a number of reasons market rate apartment management companies fail, but by starting with these foundations of sound management, you can have confidence in Ciminelli and that results will soon follow.  Call us today to ensure there are proven tactics at work, and set expectations with timeframes for execution.  Your residential properties will be sure to benefit and you will be pleased with our dedication to serving you.

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“The Ciminelli maintenance team is very respectful. We come first, which is huge. They’ve always done things timely, never waiting 2 or 3 weeks to complete maintenance requests, they are typically taken care of the day the request is submitted.”

Stephen T.,
Resident at The Sinclair

“The Mentholatum stood out quite dramatically because of the type of construction, the views, the big windows. We’ve enjoyed the personnel, they are very helpful.”

Bonnie S.,
Resident at The Mentholatum

“Our board sat down with Ciminelli’s prospective new managers and were really impressed with the depth and breadth of services offered… the board is very confident we are not only improving our existence at Parkway, but we’re also saving money”

Craig A.,
Member Board of Managers, The Parkway Condominium

Residential Management Contact


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