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 ...
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 - ...
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 ...
From a comment on the earlier post I highlighted:
-Put the phone number in multiple places so it is always visible (even when scrolling)
-Show pictures of the interior of your unit
-Make contacting the property as easy as possible with links and email addresses
-Remember, post links that go to the property, not the ‘main’ website (many people do not want to perform another search after searching craigslist)
Why would a great website not necessarily make an effective website for an apartment community?
Prospective renters don’t consider renting apartments in the same way they look at purchasing a good book, a computer, or perhaps selecting a dry cleaning service. There are some similarities. Once a consumer purchases a computer, they are commited for an extended period of time to make use of the product along with its weaknesses and strengths. However, a computer is a decision that is not impacted by many external factors. Choosing a computer doesn’t create a need to know where you will go to the doctor, or how far it is to the grocery store, or where the nearest fast food may be, etc. On the other hand choosing to rent an apartment can and should raise all these issues for prospective multifamily residents.
While over 50% of apartments searches begin on line and over 70% if they are moving in from out of town, as individual complexes achieving Internet visibility can be tough. This has led many apartment communities to conclude that they do not need a website. Instead they rely on the ILS community to provide web visibility.
Allowing the ILS to be your initial Internet contact is a reasonable approach to gain access to consumers, but it is not reasonable in a world where the consumer increasingly would like to make a decision without speaking to anyone that this is all the consumer will seek to know.
Consumers and therefore renters are seeking providers that will show them what they need, clearly explain what their service offers for their need, and allow them to purchase without further use of their time. The ILS is not and should not be positioned to do this for you. As the apartment manager, operator, or owner, you are uniquely positioned to provide robust and compelling community information.
Because of this the website for an apartment community is NOT equivalent to a typical “great” website. Because of this, the Apartment Marketing Site is a bit different animal. First, there is no need for glitzy high cost web design for a strong multifamily community website. The key is well organized information that allows the consumer to fully understand the services, shopping, sites, etc. that the community offers.
I had an interesting conversation with Mike Whaling and Lisa Trosien on Twitter last week regarding the benefits for apartment communities going green during this economy. A question was posed whether renters will actually see the benefit of apartment properties going green and therefore, pay the extra premiums associated with it. According to the key findings from a Conscious Consumer Report (2009), 51% polled said they are “willing to pay more” for ‘green’ products. Confirming that study, Apartments.com published a survey stating “apartment communities that offer environmentally-friendly amenities are more likely to turn undecided renters into residents. Additionally, more than half of renters surveyed indicated they would take an apartment community’s commitment to environmental issues into consideration.” However, 66% polled in the Conscious Consumer Report said that price is very important in the purchase decision, implying that price can be the deciding factor.
Therefore, management companies that want to go ‘green’ need to consider factors that will help their bottom line in addition to the prospective renter. You may ask, as Mike did, how can the bottom line in a community with sub-metered utilities be helped? Well, I called the one person I knew would know; that was my father, Scott Bucheister. He is a salesman at Coastal Insulation and was recently certified by Earth Craft Virginia. He commented that “going green can have a direct impact for property manager’s finances by saving money on energy and maintenance costs.” Curious in what ways? Here are a few he mentioned:
Solar Lighting or CFL Bulbs:
The benefits of using solar lighting on an apartment property are abundant. First off, it has low energy costs. It has very little maintenance. And it comes from a renewable resource as it is powered by the sun. Another benefit is that solar lights continue working even if there has been a power outage. Because the energy isn’t coming off of an electrical grid, power outages make no difference. Installing solar lighting for your landscaping needs, wall lights, security lights, etc. around the apartment community will save money. Compact Fluorescent Light (CFL) bulbs will also prove beneficial to properties in common areas such as community centers, unit hallways, management and maintenance offices, etc.
Low Flow Water Devices:
Water and money can be saved by installing low-flow water devices around the apartment community. In community laundry mats, replace old washers with front-loading ENERGY-STAR washers that conserve water. In the community center install faucet aerators on your bathroom taps. Replace old toilets with new low-flow or ultra-low flow toilets or, in the kitchen, replace old dishwashers with ENERGY-STAR dishwashers that conserve water.
Xeriscaping & WeatherTrak Irrigation Systems:
Xeriscaping refers to landscaping and gardening in ways that reduce or eliminate the need for supplemental irrigation. The specific plants used in xeriscaping depend upon the climate. Some common plants used in Western xeriscaping are agave, cactus, lavender, juniper, sedum and thyme. Advantages of xeriscaping include lower water bills, less time and work needed for maintenance, and there is little or no lawn mowing (saves energy). Xeriscape plants, along with proper bed design, tends to take full advantage of rainfall and when water restrictions are implemented, xeriscape plants will tend to survive, while more traditional plants may be unable to adapt. “If you think about it, most apartment communities completely redo their landscaping every year with the flower beds, lawns, trees, etc. If they use native plants that are drought resistant they don’t have to replant every year to attract new renters,” said Mr. Bucheister. “In fact, I was so impressed with the idea of xeriscaping that I actually implemented this in my garden at home! It’s extremely convenient as I have little to no maintenance compared to beforehand.”
Besides xeriscaping, there are other irrigation systems that are environmentally friendly. While ordinary irrigation systems overwater your landscape, leaving you with high water bills, WeatherTRAK® smart irrigation systems help you save water, money and time by eliminating overwatering. Drawing on information delivered wirelessly from 40,000 weather stations, the irrigation is automatically scheduled based on individual landscaping needs and local weather conditions. And catching rainwater using a rain barrel or other rainwater harvesting system can be used to water outdoor plants.
Energy efficient appliances, windows and light bulbs in apartments tend to help out the renters, yes. They can also be a great selling point in convincing a prospective renter to live at a community. And in my opinion should be done by all apartment communities. However, in the current economic situation property managers should also incorporate environmentally friendly ideas that will help their bottom line as well. Do you agree?
Original article can be found at ForRent.com
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/
Hey everyone, after reading several reports provided by the National Apartment Association and the National Multi-Housing Council, I have extracted some of the most valuable apartment marketing ideas and tips. They are listed in order of importance, and if done correctly will help you get more leads, double or triple applications, and significantly improve leasing success. I hope you enjoy!
A link to your Online Rental Application on every page of your Apartment Marketing Website and every single website advertisement: This point goes along with #1. An Online Rental Application will allow your prospective tenants to “contact” you and thus it is part of your contact information! All ads and other online marketing materials should include a link to your website AND a link to your online rental application. VERY IMPORTANT NOTE: If you have your own Online Rental Application, and it is not encrypted, you are liable! You are collecting sensitive renter information, and it is your job to keep that information SAFE!I hope you enjoyed it,
Sergio Navarrete
Apartment Marketing by Occupancy100.com
Hey everyone,
We have been working hard to create as many helpful videos for you to enjoy as possible. Here is a video that explains our apartment marketing solutions, and offers a great overview on Tenant Lead Generation, and the Online Rental Application.
Enjoy!
I’ve written about this before, but feel this is a drum that can’t be beaten to often. As apartment operators providing a full set of information to resident prospects is a leasing prerequisite. The main bullets on the subject are:
Detailed community information such including directions to your property, local shopping, services, entertainment, government facilities, schools, utilities, cable television, major employers, and points of interest. The more the prospect can be positioned to decide this is the home for them the better.
Detailed apartment community information including amenities in the unit, pools, laundry, fitness facilities, playgrounds, picnic areas, walking trails, tennis courts, etc.
Information about the staff and attitude toward residents. The extent they can begin to develop a sense of relationship can make a major difference in their decision to make your apartment homes their home.
Information about pricing, operating hours, and to cost benefits your apartment community may have over competitors can provide the competitive edge your need to lease an apartment unit.
Finally, make it convenient and nonthreatening to make a buy decision. Provide alternatives for connection. The contact should allow the prospect to contact the community or if they are inclined, allow them to complete a full billable application. Completed correctly, we’ve seen communities close 10% or more of their leases based on this approach.
Lets explore the simple psychological and physiological responses in humans and apply these to how we can improve customer experience.
Psychological and Physiological responses are completely different and separate responses to stimuli from the present environment (sound, colors, people, room arrangements, sitting vs standing, and many other factors are part of the environment) although physiological responses affect psychological responses. It is important to be able to differentiate between these as an understanding of such responses will help you create an effective environment to deal with all sorts of problems. An effective environment will help your leasing consultants close more leases, your staff will be happier and more comfortable at work, and it will even help calm angry residents.
So I will give you this scenario: A resident in your multi-unit property is furious because they have had a maintenance request open for 3 weeks, and no one has even contacted about them. Oh oh! This could mean trouble as an angry resident will not only cause you a personal nightmare, there is a distinct possibility that it could cost you a lease or more!
What if your leasing agent is in the process of having a potential new resident fill out a lease an application, or even a lease agreement?!
So what do you do? How do you set up your leasing office environment to calm an angry resident or help promote trust to get more applications and leases?
Light is the first and most important component, not just the amount of light but the type of light can make a big difference. There are several types of light, but the best and most calming light is natural light. The human body natural physiological response to light is general awareness and the general psychological response is happiness. But why is this?
The sun’s light is the strongest and best source of light (plus its free!). Having several large windows will allow you to utilize this beautiful natural resource.
Good light = happy and focused staff + happy prospective residents + helps create happy calming feelings in an angry resident.
Colors are a second important component of the environment. Dark colors and red (fire-like) colors are the worst choice. You will want to have light colors that promote calm and secure feelings. The color of your apartment community leasing office can have a big impact on leasing success. Click on Apartment to read more about the psychology of color.
Light or rather pastel like colors reflect more light, and promote feelings of happiness. Here is something to think about: Do you remember your high school yearbook? What color were the eyes of the superlative winner of “the best eyes”? Almost all of the time they are light blue.
Light pastel colors have higher light reflectance = happy and focused staff + happy prospective residents + helps create happy calming feelings in an angry resident.
To read more about how colors affect your staff’s mood and concentration click on apartment marketing.
I hope you enjoyed it,
Sergio Navarrete
PS – Comments are always appreciated. 
So you have an apartment to lease. Either a weekly lease, monthly or yearly. And you’ve done all the things, including newspaper, CraigsList, local apartment guide, even a few fliers to neighbors. And you still have some un-rented inventory.
What’s next?
Make sure your web site and total online presence is where it needs to be, from email to website to Google Adwords to Search Engine Optimization for Google, Bing and Yahoo. A few ideas:
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
