Planning out your next survey of the local market? Here are eight helpful tips:
- Optimally, as of the effective tax date.
- Generally, when the survey response is likely to be the greatest.
- Multifamily (market based): Mid month for greatest staff response opportunity.
- Self Storage: Mid month for greatest staff response opportunity.
- Student Housing: Mid August when the leasing staff still answers the phone but occupancy rates are essentially established.
- Retail: To avoid pop-up tenant occupancy, don’t survey near Christmas, July 4th, or Halloween... otherwise anytime.
- Office and Industrial: Anytime, but for best local broker response plan your calls to avoid federal holidays (all holidays, not just those days mentioned in #6). Oh, and forget Friday afternoons.
- Lodging is best surveyed several dates during the year, including an appropriate sampling of weekdays, weekends, game days in sports markets, in-season dates in tourist markets, legislative sessions in governmental centers, and holidays.
Local market surveys are easier if you play your cards right.