TMLP Basics
What does TMLP stand for?
Total Monthly Leasing Price
Is pest control usually included in TMLP?
Yes!
A prospect asks for base rent only. What should you lead with?
TMLP
If a prospect asks for pricing, leasing teams should only quote base rent unless they specifically ask about fees.
Myth
Which operational issues are TMLP MOST designed to reduce?
Pricing confusion and surprises
What two major things make up TMLP?
Base rent + fixed mandatory monthly fees
Are one-time move-in fees included in TMLP?
No!
A prospect says another community is cheaper. What should you encourage them to compare?
Full monthly cost / apples-to-apples pricing
TMLP was created to help reduce friction and increase pricing consistency across all communication channels.
Fact
According to the SOP, can base rent ever be communicated by itself?
Why did Greystar introduce TMLP?
To create transparency and simplify pricing
A prospect asks why electricity is not included in TMLP. What is the correct explanation?
Variable or usage-based charges are generally not included in TMLP
Why can hidden fees hurt conversion?
They reduce trust and create surprises
Two prospects touring the same floorplan at the same property may still have different TMLP
Fact
According to SOP 1262, what two items make up standard TMLP?
Base Rent + Fixed Mandatory Monthly Fees
True or False: If two apartments both advertise $1,800 base rent, their Total Monthly Leasing Price will always be the same.
False! Even with the same base rent, the actual monthly cost can be different.
Example: Pet rent for one resident may differ from another with the same base rent/floorplan
If selected by the prospect, is pet rent included in TMLP?
Yes!
A prospect says “your pricing is higher online.” What is the best response?
Explain TMLP includes recurring monthly fees upfront
If a fee is mandatory and recurring monthly, it should generally be included in TMLP.
Fact
True or False: Lease terms can be communicated separately from TMLP as long as pricing is accurate.
Lease terms must always be communicated with or displayed adjacent to TMLP.
What document must support all pricing conversations where TMLP is communicated?
The Community Fee Guide
Name 3 things NOT included in TMLP.
What leasing behavior does transparent pricing help reduce?
Friction/confusion in the leasing process
A community can technically have transparent pricing online while still creating friction during the leasing process.
Fact
A prospect selects:
What type of TMLP is now being calculated according to SOP terminology?
Customized TMLP