The Crazy 8s of Surveying

Planning out your next survey of the local market? Here are eight helpful tips:

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  • 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.