Charleston Market Knowledge
What is The Battery?
A landmark defensive seawall and promenade on the peninsula of Charleston.
What is consultative leasing?
This sales technique focuses on matching apartment features to a prospect’s lifestyle needs.
What is occupancy?
This term refers to the percentage of occupied apartments in a community.
What is the Fair Housing Act?
This federal law prohibits discrimination in housing.
What is Apartments.com?
This online platform is commonly used to advertise apartments and track listing performance.
Why is Charleston known as the Holy City?
It is famous for its strict building height restrictions limited by the tallest church steeple.
What is closing ratio?
This leasing metric measures how many tours turn into signed leases.
What is Net Operating Income (NOI)? What is the procedure for unauthorized pets?
This financial metric represents income after operating expenses are deducted.
What is a lease agreement?
This document outlines rent terms, rules, and responsibilities between landlord and resident.
What is a resident referral program?
This incentive encourages current residents to bring in new leases.
What does the Pineapple Fountain symbolize?
The pineapple is a symbol of hospitality.
Do we ever sign any contracts?
No! Always check with your RPM's.
What is Gross Potential Rent?
This metric measures potential rental income if all units are leased at market rates.
What is a holding fee?
This fee is collected to secure an apartment before move-in.
What is a rent concession?
This seasonal promotion often helps maintain leasing velocity during slower winter months.
What is your favorite restaurant in Charleston?
Correct!
What is lifestyle selling or location-based selling?
This selling approach highlights neighborhood amenities rather than only apartment features.
What is vacancy loss?
This loss occurs when units sit empty between residents.
What is an early termination clause?
This lease section explains penalties for breaking a lease early.
What is local partnership marketing?
This strategy partners with local Savannah businesses to attract prospects and build community presence.
What is the C of C?
College of Charleston located in downtown Charleston with a total enrollment in 2026 of about 12,000 students.
What is urgency selling?
This technique creates urgency by emphasizing limited availability or pricing changes.
What is days vacant or days on market?
This metric tracks the number of days a unit remains vacant before leasing.
What is Georgia Security Deposit Law?
This Georgia law regulates how security deposits must be handled.
What is resident engagement or renewal retention strategy?
This retention strategy focuses on proactive communication and service to encourage lease renewals.