In the last installment of the apartment budget conversations, I introduced two concession line items. I penned on both new and renewal concessions and the use of both as it relates to securing new leases and increasing retention percentages. Over the next few weeks I will be penning thoughts on several other discounts that get booked as concessions. This is where I hope to see some idea sharing in the way of comments, tweets, shares, etc.. Today’s topic is courtesy officer concession.
The gist of offering a courtesy officer concession is to both attract and retain the services of on or off duty uniformed police officers. The idea is that the officer will receive a rent concession in exchange for his services. Those amounts are predicated on a pre-determined clearly defined scope of responsibility. The following are some examples that might be included in that scope:
- Walking the property nightly
- Tag illegally parked or inoperable vehicles and vehicles with expired license plates
- Preparing a report on a nightly basis indicating any lights out on the property and incidents which may have occurred during a shift
- Locking up Fitness Center, Laundry Rooms and Pools on a nightly basis and checking the office area for any unusual activity
- Checking the entry gate and reporting any vandalism or dates and times the gates were found to be inoperable
- Informing management of crimes which have occurred in or around the surrounding community
- Maintaining a friendly, courteous, professional and visible presence within the community at all times whether on or off duty
By no means is the list exhaustive but it is a good start if you are looking to put something in place at your site. The concession amount can be backed into by defining an hourly rate, flat rate or rate per project. No matter the math the discounts will be booked as a courtesy officer concession.
In closing – a concession in exchange for services from an on or off duty police officer is a good thing.
Your – looking forward to your ideas – multifamily manic,