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Rent Renewal Strategies for Success - Webinar (Recorded)

  • Webinar

  • 65 Minutes
  • March 2024
  • Lorman Business Center, Inc.
  • ID: 5934525

Learn the art and science of successful rent renewal.

In an ever-evolving rental market, staying ahead demands innovative strategies and smart technology integration. Our upcoming webinar delves into the art and science of successful rent renewal, tailored for today’s dynamic property management landscape. Whether you’re a property manager, owner, or part of a property management team, this session is designed to equip you with cutting-edge strategies for rent renewal success. We’ll explore proven techniques for fostering strong tenant relationships, offering flexible terms, and achieving competitive pricing through insightful market analysis. A special focus will be on leveraging technology and AI to streamline processes, enhance decision-making, and improve tenant satisfaction. This webinar is more than just a learning experience; it’s an opportunity to transform your approach to rent renewal, ensuring higher retention rates and optimized profitability. Attendees will gain actionable insights, access to the latest tools, and the knowledge to navigate the complexities of rent renewal in the digital age. Don’t miss this chance to revolutionize your rent renewal approach and stay ahead in the competitive property management arena.

Learning Objectives

  • You will be able to define the fundamental concepts and components of an effective rent renewal strategy.
  • You will be able to describe the latest technological advancements, including AI, and how they can be integrated into rent renewal processes to enhance efficiency and tenant satisfaction.
  • You will be able to discuss the perspectives and expectations of tenants, property owners, and property managers, and the importance of aligning these perspectives for successful rent renew-als.
  • You will be able to recognize the signs that indicate when to implement specific rent renewal incentives and lease term flexibilities, tailored to market conditions.

Agenda

Introduction
  • Setting the Stage: Rental Renewals
  • Welcome and Introduction
  • Presentation Overview and Objectives
Trends in Single Family Home Rental Market
  • National Trends and Market Analysis
  • The Importance of Rent Renewal in Property Management
  • Aligning Owner, Resident, and Property Manager Goals
Proactive Communication and Relationship Building
  • Building Strong Tenant Relationships: Communication Best Practices
  • Effective Owner-Manager Communication: Ensuring Alignment and Transparency
  • Case Study: Impact of Proactive Communication on Renewal Rates
Offering Incentives and Flexible Terms
  • Creative Incentives for Encouraging Renewals
  • Flexibility in Lease Terms: Adapting to Tenant Needs
  • National Examples: Successful Incentive Strategies in Different Markets
Market Analysis and Competitive Pricing
  • Conducting Market Analysis: Tools and Techniques
  • Balancing Competitive Pricing With Profitability
  • Upgrades and Maintenance: Aligning With Market Expectations
Technology’s Role in Renewals
  • Advancements in AI and Property Management Software
  • Benefits of Integration and Automation
Legal and Ethical Considerations
  • Navigating Legal Frameworks Across Different States
  • Ethical Practices in Rent Adjustments and Tenant Negotiations
  • Resolving Disputes: A Balanced Approach
Conclusion and Closing Remarks
  • Key Takeaways and Best Practices
  • Encouragement for Implementation of Strategies
  • Thanking the Audience and Closing
Q and A Session
  • Open Floor for Questions
  • Sharing Experiences and Perspectives

Speakers

Kelli Segretto K Segretto Consulting
  • Founder, K Segretto Consulting
  • Property Management and Process Solutions Consultant, focusing on Property Man-agement Operations; including technology, teams, process, and business strategy de-sign.
  • 20 years property management experience; exposure in all 50 states and 8 countries
  • National Speaker: Real Property Management, Property Management Inc, NARPM, IMN, and various Webinar and Podcasts
  • Membership: NARPM Women’s Council Vendor Chair, NARPM Utah Board Member, IREM National Designations and Certifications Committee Member, Rental Housing As-sociation of Utah Instructor
  • Certifications/Education: IREM Certified Property Manager (CPM) and Licensed Utah Real Estate Agent

Who Should Attend

This live webinar is designed for attorneys, presidents, vice presidents, property managers, real estate professionals, developers, landlords, building owners and managers, and accountants.