Furniture rental, destination services, apartment-finding services and more provide apartment communities quality renters and ancillary income
CORT, a Berkshire Hathaway Company, is the only national provider of rental furniture and the only furniture rental company with an entire division devoted to apartment communities and renters. For more than four decades, CORT has partnered with apartment communities to meet the needs of property managers and leasing agents to increase occupancy rates and create new revenue streams.
Through CORT’s ‘circle of life’ business approach, the company partners with national, regional and local property management companies and local leasing agents to create benefits such as quality renters, longer leases, furnished apartments and a reduced burden of asset management.
CORT will be exhibiting with more information about their services at the National Apartment Association conference this June 28-30 in Boston.
As national trends show, more individuals are choosing to rent rather than buy housing, the proverbial ‘rise of the renter’ is a reality today and apartment communities are reaping the benefits. As occupancy rates soar, property managers and leasing agents are met with a new challenge: differentiating themselves at a time when nearly all apartment communities are at maximum occupancy. As always, CORT is helping with this differentiation by providing furnished apartments and ancillary revenue streams for property managers and leasing agents, and literally driving high quality renters into apartment communities.
“No matter what the challenge is, be it occupancy, additional revenue or quality renters, we work with property managers to find the right solution,” said Jeff Rowe, vice president of sales at CORT. “Oftentimes the solution is furniture rental, but if it is not, we leverage our network of contacts and industry expertise to find a solution. Our primary goal is to help you increase occupancy rates with quality renters.”
Ancillary Revenue Opportunities
National property management companies benefit from the new revenue streams from furniture rental referral fees provided by CORT, but the much larger revenue partnership is driven by CORT bringing high-quality renters to their communities through their suite of Destination Services. In one case, a partnership with a large property management firm projects $100,000 in new annual revenue to the property management firm from furniture rental referral fees, but new renters from CORT Destination Services represents a potential of $8.5 million in annual new revenue.
Through CORT Destination Services, CORT will literally drive potential residents into apartment communities more than 50,000 times this year. These tours do more than increase occupancy for the apartment communities that CORT works with though; they bring residents that generally are relocating specifically for a job and typically have higher credit, longer leases and steady employment.
CORT Destination Services is also increasingly bringing employees to the United States from global destinations through apartment finding and area orientation tours. CORT’s suite of Destination Services includes home finding and area orientation and settling-in services.
CORT also works with local apartment communities to market their community to potential residents by co-hosting events and providing marketing best practices.
“CORT is more than your furniture provider,” said Pete Regules, national manager for CORT and a member of the renowned Apartment All*Stars speaking tour. “We are your partner to help you rent apartments.”
For more than 40 years, CORT has been the nation’s leading provider of rental furniture with a global network of affiliates in more than 70 countries. CORT, a Berkshire Hathaway company, serves more than 80 percent of the Fortune 500 companies with the nation’s most comprehensive range of destination services, including online apartment search services at www.ApartmentSearch.com. For more information, please visit www.cort.com.
Largemouth Communications (for CORT)
Shellie Edge, 919-459-6454