Owning and managing an apartment neighborhood can be a complex venture, with real estate trends and values likely to fluctuation and many different ways to invest your money. Landlords who find successful marketing approaches have an edge concerning income and stability by being able to find new tenants and maintaining existing ones more readily.
Utilize the Internet
Online marketing is essential if you want to reach the widest possible audience. Post on property sites, online classifieds and social networking websites so that prospective tenants can find you, where they spend their time online. In addition, ensure that your apartment neighborhood has its own site with plenty of pictures, floor plans, up-to-date contact information and testimonials from current residents. Investing in Web design can give your apartment community a more professional look. Placing advertisements online is usually cheap, with some sites offering free listings. Online marketing in any form is helpful for reaching younger tenants who may be more inclined to conduct an Internet search than just read a paper, but who may also be seeking to rent for several years to come.
Word of Mouth
Word of mouth is one of the easiest ways you can promote your apartment community. Besides maintaining your tenants–and prospective tenants–fulfilled, think about offering a referral discount. A one-time 15 percent rent reduction may be sufficient to persuade your tenants to let their friends know about vacancies in your apartment neighborhood, helping you fill them before continuing on to more costly and time-consuming kinds of promotion.
In any advertising, always make mention of some current renovations. Making prospective tenants aware of recently remodeled components or new fittings in an apartment can signify your dedication to enhancing the apartment community and maintaining your tenants comfy. It can also help dispel negative reviews or a tarnished reputation by showing that you’re working to make improvements.
Tenants are very likely to compare with several similar apartment communities. Besides offering competitive prices and well-maintained facilities, find something you can offer that will set your apartment community aside. Offering complimentary wireless Internet throughout the property is 1 possibility. Others include offering free access to a personal trainer, if you’ve got a workout facility; a free TV or other appliance for all new tenants; or discounts on food through an agreement with a local restaurant or grocery shop.