Email: sales@occupancy100.com or support@occupancy100.com Call: 1-877-208-9709 %CODE1% Related posts:Free Tips to Increase Traffic from Potential Renters
Difficult Economic Times Have Affected the Apartment Industry With difficult economic times... Unemployment is rising... Delinquencies dog revenue... more and more potential renters are doubling up... Traffic is slow... Occupancy is edging downward... Apartment Communities need more resident prospects: Calls - with so many renters doubling up we can't afford not to generate as many as possible, Visits - statistics show that results are much stronger from online contacts if responded to within the first hour, Emails - increasingly resident leads do not want to talk on the phone or otherwise interact. Some properties we serve have closed over 10% of their leases without a ...
This is a PAY per RESULT Apartment Marketing Solution. We have found that potential residents fill out applications after work once they have gotten home. This means that rental applications are submitted after your leasing office has probably closed. Our research suggests that applications that are responded to within the hour lease more than 50% of the time. Because of this we have professional leasing agents at our central office between the hours of 8am to 2am which ensures that more than 90% of all applications are responded to within an hour. Even if your leasing office is not open, you ...
This is a PAY per RESULT apartment marketing solution. Our Resident Lead Generation solution generates 2-3 daily new calls. How do we do this? We have identified some of the Internets leading web presence companies. We place weekly updated ads of every floor plan on each of these companies' websites. Craigslist, Whitepages, Google Maps, Yahoo Local, etc... Customer Feedback - Beckie Foust "Occupancy100 generates 1-2 qualified leads per day" "Currently Occupancy100 generates 1-2 qualified leads per day, and 3-4 new applications a week. We love it. Most of our new tenants have come from occupancy100s services." Beckie Foust Property Manager - ...
Finding better qualified residents is essential to the success of your multi-unit property. Increasing apartment occupancy can be done through two main methods: The first method for finding good, qualified residents is to heavily advertise your apartment so that you capture as many potential residents as possible, and then weed out the many unqualified rental applicants. This method of resident acquisition brings you a plethora of potential residents but heavy advertising is expensive. The second method for finding great qualified renters is to only advertise to renter prospects who are more likely to qualify. Acquiring renter traffic though this method of resident ...
I recently wrote an article highlighting some key points for lead generation online on ezines. The address is:
You will find this article different because of the focus on what the process is in the prospect’s head while working with the Internet during the apartment search. I’d recommend checking out the UrbaneLab for some good ideas regarding how to further decipher this process. Their address is:
http://www.apartmentveteran.com/
The responsibility of renting a property is critical, but simply generating traffic and having a trained sales staff will not rent units. We are operators in a commodity market. By definition, this implies that as owners and managers we have to provide some basic underlying conditions to rent.
First on the list, as operators we gain nothing by trying to sharply under price the market and if we over price the market, we will not rent. This is a delicate item because if we price too low we lose money and if we price too high we will not rent at all. Further, this means we have to be competitive on concessions as well as basic price. With all this in place, if as owners and operators, we can establish a position of greater value we will have a sustainable edge in the market.
Next, our property must be priced to compete with properties on amenities. Visits and calls are generally determined by bedrooms, bathrooms, and amenities. Pricing to fit against the competition in this area is critical.
A clean well maintained property is another basic point. Property management processes and procedures that assure this are critical to renting units. As always, customer service wins the day.
Finally, social condition will kill renting and can be a great rent enabler. If resident prospects see a clean area, late model vehicles, quiet and low key resident interactions, etc. Residents and resident prospects need to feel safe in the neighborhood. The probability begin increasing quickly that they will choose your community as their new home if safe, clean, and friendly conditions.
Blake Ratcliff – The apartment marketing guy
We’ve hit many times the fact that Hispanics are the fastest growing resident demographic. However, did you know that Hispanic Internet usage is growing 50% faster than the general market? Do you have a strategy for this market area?
If not, keep in mind that most Hispanic searches are in English. The fact is Hispanic marketing in fact any demographic marketing focus is a cultural item. For example are you aware that a Hispanic household is 3.5X more likely to respond to a direct mail item than a non-Hispanic Household. This is particularly important when you understand that they only receive 10% of the mail other households receive.
About 55% of Hispanics respond well to ads in Spanish. Also, Radio and television is generally the best mode of advertising based on selling results.
When you considers Hispanics are $860 billion dollar market segment, ignoring this segment is at your own risk. This will be an even greater fact as the segment is expected to grow to over $1 trillion by early in the coming decade.
Good sources for this post were:
A Demographic Housing Seismic Shift
At apartmentmarketingsolutions.com, we’ve identified some key areas where properties can differentiate themselves. One of the least exploited is ethnic differentiation. Over the next decade this is an even more significant fact as more than 72% of new households will be minority according to the 2009 Joint Housing Study. This implies a seismic shift in the proportion rental homes for the nation. For the first time since records have begun U.S. homeownership is on track to move below the historic average of 62% toward a low 50% range (and this does not consider impact of the housing crisis driven recession on homeowner trends).
Since minorities have lower incomes and in general rent at a greater rate than whites. In fact, if we break this down further, U.S. census data shows that blacks rent at a greater than 50% rate compared to home ownership. This jumps to more than 60% for the Hispanic Latino population.
Where does this lead? It turns out that of new households, Hispanic Latinos are 36% (50% of the 72%) of the total. If we extrapolate from this point we know that of total household figures:
If this trend holds, homeownership will fall below 50% over the next decade or two a fact no study has explicitly recognized. Should this trend hold the course, besides indicating drastically reduced single family household growth there will be a equally large rise in multifamily housing requirements. Further, management companies that do not address winning larger portions of this demographic will struggle to maintain occupancy. Apartmentmarketingsolutions.com sees Spanish leasing and marketing tools as a critical step to address this trend. Further, apartmentmarketingsolutions.com believes that beyond the steps taken that research understanding these trends are key competitive differentiators.
The past year has seen a rapid decline of the U.S. economy, taking home ownership with it. With foreclosures on the rise, the multi-family housing industry is getting a great boost. Apartment living appeals to people for its convenience and affordability—it lacks the need to maintain your own home and outdoor space, it is easier to relocate yourself and your family should the need arise, and rental homes are generally located in areas that have suitable access to transportation as well as shopping, schools, restaurants, etc. It’s no wonder that the tenant trends in renting span across many demographic profiles. In terms of income, a diverse group of people tend to rent—there are those who can afford to purchase a home and instead rent pricey apartments and lofts with upscale amenities in high-end neighborhoods, and there are those renters who do so out of financial necessity. Many young professionals rent near employment centers and metro/subways in order to improve their commutes. Empty nesters often rent in the suburbs to free themselves from the burdens of homeownership, as well as to be able to travel and explore the world following their children’s departure.
In general, immigrants tend to rent more often (and longer) than those people born and raised in the United States. Young adults from the ages of 18-30 also tend to rent more often due to their newly found freedom from the homes of their childhood, their lack of funds due to student loans, and their general inexperience when it comes to homeownership and all the bureaucratic paperwork that comes with it—renting is a much simpler option, and often much less of an investment for young adults just starting out in the “real world” not knowing where their lives will take them. The “echo boomer” generation (the children of the “baby boomer” generation) at 75 million strong, is one of the largest populations of renters in the United States.
It is safe to say that there is not one specific type of renter out there. Though immigrants and young adults tend to rent more often, all people in all stages of their lives can be influenced to do so through a specifically tailored marketing approach. Occupancy100’s staff is here to help you create a marketing design that can attract all types of renters whether they are college graduates or empty nesters. Renting is an experience that everyone can enjoy!
More traffic… more qualified traffic… better closing techniques are the name of the game for owners and managers.
However, achieving this is a complex task. A significant key is recognizing that the American demographic is a changing thing. Did you know that 72% of new tenants for the next 10 years are expected to be minorities and that half of these will be Hispanic/Latino? Also, did you realize that this year American schools will graduate the largest class in history? Or, what about the fact that seniors as a part of population will grow disportionately over the next 10 years.
What about economics? How does the loss of wealth from the recession impact you? Or, how will increased savings impact renting?
As owners and manager, studying our markets is critical. This implies studying our local market and market trends. This means understanding global trends. Finally, this implies coming up with techniques to capitalize on these factors once understood and quantified.
Blake Ratcliff – CEO of Pallaton Properties
The Hispanic community in the United States has an incredible $800 billion worth of buying power, even in today’s economy, proving to be an incredibly lucrative investment for the multi-family units willing to tailor their marketing approach in order to meet the needs of the Hispanic renter community. Home ownership proves to be incredibly challenging among the Hispanic community, with lower average education levels, large family units, the general lack of Social Security Numbers for applications and background/credit checks, and a relatively lower average age of individual households deterring most from being able to possess their own homes.
The majority of the Hispanic community is of foreign birth, opting to make their way to the United States by way of major cities such as New York, Miami, and San Francisco. These densely concentrated metropolitan areas are generally home to few owners, and more renters, thus making home rental among the Hispanic population a popular option. The road to home ownership is often lengthy and bureaucratic—60% of United States Hispanic residents opt to rent their homes, and take pride in doing so. Studies show that Hispanics take pride in paying their rent on time and are often more eager to keep a clean living space and uphold tenant/landlord requirements within their homes. Because of this, many multi-family complexes are reaching out to the Hispanic community and adapting the general structure of their renting process and marketing approach to accommodate these eager renters’ needs. In a world where identity theft is happening all around us, a vast number of apartment applications no longer require Social Security Numbers, and many complexes are making concessions for large families. Apartment marketing efforts targeting the Hispanic market can bring you many qualified and eager renters.
At Occupancy100, we employ Spanish-speaking staff, ready and able to help you market your apartment to these thriving populations by translating and tailoring advertisements to reach your Hispanic target market. By talking to one of our staff members we can help you to customize your approach in order to gain this lucrative and profitable tenant population.
We have even created a Spanish/English Online Rental Application!
