How Can You Supercharge Your Apartment Marketing Effort?
Posted: Monday, September 14, 2009
by Blake Ratcliff
BRPH Investments
Let's assume you have the perfect apartment property, in perfect condition, with the perfect staff. Let's assume that should a prospect come through the door, call, or contact you otherwise that everything required to successfully complete a lease will occur perfectly. Even if all this happens you may still be missing out on most of the available apartment leads.
Since 2005, the percentage of apartment seekers beginning their search online has increased from 38% to over 50%. Because of this, even if you perform everything else just exactly as planned or expected, you run a strong likelihood of failing to even make contact with the tenant most of the time as your properties compete with the many other rental opportunities in your market.
The fact is no multifamily property, even with an almost infinite marketing budget, can reach every apartment customer searching for a new rental home on the Internet every time. This is a fact none of us can overcome.
But what if you do reach the customer, are you positioned to capture their information and respond to them in a manner that maximizes you opportunity to close the lease? For most properties this is a resounding NO.
What are the issues that must be addressed to position to close the resident prospect once you actually reach them on the Internet?
Very simply your opportunity hinges on several key points including:
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.
As a closing note, the last point looms large (in fact all of the information leads to this point), providing convenience to resident prospects is a major key to closing a lease. Ensure that if you get their attention that you give them every opportunity to close immediately. Don't cause potential renters to have to additional steps printing and faxing forms or scheduling visits if they choose to rent now because you've positioned them to make the decision today while at your Craigslist posting, at your website, or at your add on a ILS. Allow them to fill out an application or contact you electronically immediately. After all, recent statistics from the National Apartment Association show that online contacts responded to quickly will make a buy decision as often as more than 90% of the time.
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Top-level comments on this article: (1 total)Great tips Blake! I couldn't agree more that convenience is so essential! Thanks for sharing the tips! I am sure many will find them useful!
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