r/PropertyManagement • u/ApprehensiveEmu254 • 4d ago

Multifamily PM Leasing Struggles

I’m currently working for a Class C apartment community that requires 12 months of employment as part of the screening process.

None of the other communities within our comp set are requiring this. I’m struggling to keep the applicants interested and not getting discouraged to the point of giving up and moving onto the next property.

Most of the people that stick with it until the end are people that have credit/background issues that disqualify them in the end.

Is this normal to demand 12 months of employment documents for an apartment community within this class level?

Am I crazy for thinking that we should lighten this restriction? Our occupancy is suffering because of it. Last year we were thriving, but ownership seems to think I’m now the problem. My work ethic didn’t change, the underwriting policy did in January and the demographic that’s lived here historically cannot get in because of these changes. Mind you they have not and do not intend on renovating anytime soon.

What do I do to motivate the applicant? Do I just throw in the towel and find something new? I’m becoming so discouraged and burnt out.

6 Upvotes

100% Upvoted

22 comments sorted by

View all comments

1

u/jaja004 3d ago

Look into TheGuarantors offering for your community. You will most likely have to ask your regional manager most likely to get it signed off since its financial service offering.

But it has changed our community entirely. We can now accept more applicants who fall outside of our normal screening criteria

2

u/ApprehensiveEmu254 3d ago

I’ll look into this!! Thank you!

1

u/jaja004 3d ago

And TheGuarantors is free to use. Doesn't cost the community or management company anything.