Multifamily Lease Up Strategies for Property Owners | Quext
Multifamily Lease Up Strategies – Promoting Amenities & Delivering Premier Customer Service
As a developer, operator, or investor in the multifamily industry, you understand how important it is to make sure your new property is leased up quickly and efficiently. This can be a daunting task, as there are many strategies required to attract potential tenants and get them to sign on the dotted line. We’ll review how to take your multifamily lease up strategy to the next level by creating a unique brand lifestyle around your community, amenities, and delivering premier service.
Creating the right strategy for your lease up takes time and preparation. Now more than ever with looming concerns of the economic recession, and the impact this has on the housing market. The multifamily space finds itself in a highly competitive renting market, and standing out is more important than ever.
Lease Up Marketing Ideas
Preparation and planning is at the heart of lease up success. The preparation begins with a well developed branding and marketing strategy that builds an interactive buyer's journey, and showcases the unique value your property has to offer. But how do we create our brand credibility, and communicate that value?
What makes your property stand out from the competition? Is it a roof-top pool, an expansive fitness center, or a modern clubhouse? Amenities are the heart of your property, they represent the lifestyle of your community, and they need to be at the forefront of your branding and marketing plan. By providing prospective tenants with an idea of a unique lifestyle experience, you are giving them a taste of what life would be like at your community. Allow them to envision themselves living there for years, and how their day to day activities are impacted by your community lifestyle. If you can provide potential tenants with an experience that will make their lives easier or better in some way, they’re more likely to sign a lease.
To further promote your development’s unique amenities, consider offering virtual tours or mockups of what life would look like at your property. You can also create online content & marketing material that highlights all of the features of your property and its surrounding area so that prospective tenants have all the information they need to envision their new lifestyle right at their fingertips.
Apartment Leasing Customer Service
In addition to promoting amenities, it’s also important to deliver premier service throughout the leasing process. From start to finish, tenants should receive top-notch customer service from everyone associated with your community (including leasing agents, maintenance staff, etc.). This includes responding promptly when inquiries made about available units or any other questions related to living in the building. The goal is for potential tenants to have a positive experience from day one so that they feel comfortable signing a lease.
Property Management System
Finding the right property management system that can empower your staff to drive that service excellence will set you apart. Moving is stressful, when your staff can streamline the process and ensure that all paperwork is handled correctly and efficiently before move-in day arrives; you’ll have eager and happy new residents. Verifying contact information and conducting credit checks on each applicant before approving them for tenancy, and signing leases can be a long process, but it provides you the opportunity to get to know your resident. Make sure your staff is seizing that opportunity and reflecting the lifestyle of your community. Don’t forget about resident retention! Providing excellent service during move-in day and beyond will help keep current residents happy and encourage them to renew their leases year after year.
A successful multifamily lease up requires more than just a digital marketing strategy; it requires strategic planning and execution of various strategies. Leveraging your community's lifestyle & amenities and providing premier service throughout the entire leasing process can ensure that their properties remain attractive options for potential tenants even in today's highly competitive rental market!