Property managers and marketers often find themselves competing intensely for the interest and rent dollars of potential residents. While renting out apartments has been a fairly consistent field for a long time, it is now changing at an increasing rate due to technology. Here are five trends that are sure to redefine how investment property managers compete.
1) Mobile Marketing
It is probably no surprise that reaching potential tenants on mobile is absolutely essential. Phones are central to many people’s lives, young and old alike. This is especially true for millennial and gen-z renters who have spent much of their lives with smartphones.
Additionally, your website needs to be mobile-friendly and your listings need to be accessible through websites and apps that work well on small screens. Don’t expect much interest in that new multifamily building if you are relying on old-fashioned media.
2) Convenience Shopping
An offshoot of the prevalence of smartphone shopping is a greater desire for convenience. Renters today, especially those in urban areas, can pull up information on dozens or even hundreds of potential apartments. If your listings and contact details aren’t conveniently available, don’t expect prospects to bother trying to find them.
The same applies to rent and taking advantage of building services. While paper checks and old-fashioned keys may be fine for a charming townhouse apartment, don’t expect to get away with the same in a large, multifamily building. Offer your residents convenience and they’ll be more likely to renew their leases and recommend you to their friends.
3) Desire To Be Heard
Online reviews, social media groups and more give renters many outlets to put their thoughts and opinions out into the world. The main question is: Are you listening? Renters today want to be heard by their landlords and property managers. Engaging with them in constructive ways is an excellent opportunity to get ahead of any prospective issues and to foster longer-lasting rental relationships.
4) Device Agnosticism
Of course, people don’t shop only on their phones. They also use their computers, tablets and even smart home devices. Furthermore, they switch between them. Your marketing information needs to be device agnostic. A potential renter may find a few listings on her phone while on the train, then compare them at home on her computer. Invest in building a strong and flexible user experience.
The narrative is the new normal in the marketing world. While you may not expect that your multifamily apartment building leaves much room for creativity, building a brand and sense of community is invaluable.
The more cohesive your brand message is throughout your website, listings, and building, the more your renters and prospects will connect to it. In addition, when potential renters know what your brand is about, they will find it more desirable.
Get Insight Into Renter Opinions
These trends and many others drive what modern renters are looking for when they search for a new home. Don’t leave your team in the dark. Get a better idea of what your tenants are thinking and why they are saying whatever they are saying about you. Opiniion is a solution to help you better understand and control your online reputation. Get started today.