Upstate & Asheville Market Knowledge
What is USAA?
The Upper State Apartment Association which covers all our Greenville and surrounding area communities.
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.
What are two of the top five largest employers in the Upstate?
Top three: Prisma Health, Greenville County Schools, BMW Manufacturing, Michelin and Spartanburg Regional Health
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 are two of the six key industries that represent around 80% of Asheville metro area's economy?
Education & Health Services, Leisure & Hospitality, Government, Retail Trade, Professional & Business Services, Manufacturing
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.
According to ALN, what percentage of properties are offering concessions? (as of March 2026)
18%
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.
Which Upstate market has seen the highest annual effective rent gains at 4.2%?
Central/Easley
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.
Under the SC Landlord and Tenant Act, within how many days should a tenant's security deposit be returned?
30 days
What is resident engagement or renewal retention strategy?
This retention strategy focuses on proactive communication and service to encourage lease renewals.