Boost Leasing Efforts With These Multifamily Marketing Ideas
Need some multifamily marketing ideas? Keep reading for all of our favorite tips and tricks.
Although buying a house may still be a big part of the American dream, these days, more and more Americans are coming home to apartments in multifamily buildings and complexes. Over the past couple of years, the multifamily real estate market has experienced tremendous growth:
- 2020 saw a 50% increase in multifamily units compared to 2019
- In 2021, the occupancy rate in apartment rentals reached an all-time high of nearly 97%
That’s good news for developers who are looking to fill empty units. The numbers behind the rise in popularity of multifamily living are proof that renters are out there—you just have to find them.
From cutting-edge digital marketing for apartments to unique community partnerships, here are some of the most effective multifamily marketing ideas.
#1 Cultivate Community
According to a recent study by RentPath, today’s renters are more emotionally invested in the properties than rent than ever. Just like their home-owning counterparts, renters want to know their neighbors and feel connected to where they live.
That means that to attract renters, complexes need to cultivate a community-first environment. Here are some ways to market your multifamily property as a comfortable living community geared toward connection:
- Host community events – When you provide safe and fun ways for renters to get together, you build a sense of community on your properties, which can improve word-of-mouth recommendations and the satisfaction of your current residents. Need some community event ideas? Plan a vintage movie night on the front lawn or host a holiday party swarming with peppermint patties, marshmallow-filled hot chocolate mugs, and maybe even a community present or two.
- Create a comfortable atmosphere – The best part about home is that it’s safe, comfortable, and inviting. Convey your commitment to coziness across your apartment marketing materials, from website photos highlighting cozy nooks, bedrooms, and amenities to social media testimonials in which current residents share what makes your community feel like home.
#2 Perks and Promotions
Perks and promotions are a great way to attract new renters and retain your current tenants. Don’t be afraid to get creative here, as there are many ways to reward and incentivize prized or prospective renters. Here are a few ideas:
- Free parking – If you charge your tenants to park their cars, consider offering free parking passes as a special promotional offer. You can have regular sweepstakes drawings or give new tenants a free first month to share your commitment to your residents’ happiness.
- Giveaways – Need some resident retention ideas? Gift cards, meal vouchers to local restaurants, discounts on gym memberships, and free movie passes are all inexpensive giveaway options that please tenants—and keep them coming back for more.
- Rental discounts – Discounts or free first-month discounts can attract potential renters who are looking to reduce some of the overhead costs of moving. For those looking to renew, you can adopt a similar discount that knocks a few hundred dollars off their rent.
- Resident referral program – Offer your current tenants a rental discount for referring their friends and family to your property. This will help you find new renters and contribute to the sense of community on your property.
#3 Step Up Your Web Game
These days, a vibrant and active online presence is more important than ever if you want to stand out from the crowd. Killer websites, sophisticated social media use, and other digital outreach options are proven ways to reach potential residents near and far.
When it comes to marketing your multifamily property, here are some ways to craft a web presence that’s authentic, engaging, and successful:
- Upgrade your website – There’s a good chance your website is the first impression prospective renters will have of your property. Make sure it’s attractive and easy to use. Incorporate pictures that show your property in a flattering but authentic light, and make sure vital information is easily accessible, such as floor plans, application procedures, and rental pricing.
- Use social media – Does your property have a Facebook page? An account on Twitter? An Instagram? You should be using these mediums and other social media platforms to promote your property. They’re also useful for keeping your current tenants up to date on important news, events, or offerings.
- Online advertising – While social media makes it easy to do your own online marketing, purchasing advertising space online is another viable option for reaching prospective tenants. Investigate options like Google Ads and Facebook Ads to attract potential residents looking for community living.
Whatever your digital outreach efforts, make sure that your image and ethos are consistent across platforms. Cohesive branding through colors, font, and other elements helps build trust and credibility.
#4 Start Remarketing
While you’re revamping your web presence, you should also think about getting in on the remarketing game.
Remarketing is a great way to regain the attention of consumers who have already expressed interest in your business. For instance, if a prospective tenant visits your website, starts browsing apartments, or even begins to fill out an application, you can send them targeted advertisements or check-in emails to remind them of your community and offerings.
#5 Go Virtual
Even before Zoom and e-meetings became an integral part of how we do things, virtual model apartment tours and floor plans were a popular way for apartment complex renters to scope out potential apartment rentals, especially if they were planning a move from out of town.
To that end, you can adopt the following methods to cut costs, save time, and improve convenience for potential renters:
- Virtual tours – In our new reality, virtual tours are pretty much expected by future renters, so make sure you have the proper hardware and software to offer them. You can host a live virtual tour through FaceTime or Zoom to answer resident questions or record a video tour and upload it to your website for easy viewing.
- Interactive options – Including interactive pictures or 3D floor plans on your website and pictures are also effective ways to give future renters a realistic sense of your property. Also, share a phone number or email address, so a prospective renter can conveniently get in contact with your property or address any questions they may have.
#6 Offer Unique Amenities
For apartment hunters, what distinguishes one apartment complex from another is the amenities it offers. If you’re trying to attract new renters and edge out competing properties, consider upping the perks you offer your tenants.
Many complexes have amenities like swimming pools, workout facilities, and clubhouses. But to stand out and remain competitive, get creative. What can you offer to new residents that competing complexes don’t? Here are some unique takes on apartment community amenities:
- Co-working spaces – With more and more people working from home, co-working spaces are becoming highly prized apartment amenities for those looking for an at-home office space.
- Shopping amenities – Having access to convenience shopping or even a grocery store on your property can be a huge incentive to prospective renters looking for a walkable community.
- Alfred partnership – Partnering with Alfred is another enticing amenity you could offer your tenants in their apartment lease. Alfred partners with property owners and managers to elevate residents’ living experiences by making things like rent payments and maintenance requests easy to access and complete.
#7 Offer Pet-Friendly Options
A lot of people who would otherwise be perfectly happy living in an apartment get turned off by strict pet policies. We get it: keeping your property in good condition is a difficult job, and pets don’t make it any easier.
That said, in today’s market, renters aren’t only looking for apartments that allow pets—they want complexes that recognize their pets as full-fledged members of the community. That means offering pet-friendly amenities like:
- Dog parks and dog runs
- Doggy day-care facilities
- Pet-friendly grooming facilities
#8 Partner With Local Businesses
The businesses in your community are a great resource for reaching new tenants. By partnering with local restaurants, retailers, and other businesses, you can get the attention of prospective renters who are already close by.
Here are some ideas:
- Post printed materials – If you form a relationship with a local grocery store, pharmacy, or restaurant, see if they will let you post some of your promotional materials on the front doors or windows.
- Advertising exchange – Partner with local businesses in an advertising exchange. For example, in exchange for you advertising a local restaurant to your current tenants, the restaurant could advertise your complex to prospective renters. You can even host joint events in which your community provides the venue, and the restaurant provides the food.
- Promotional partnerships – Perhaps local businesses would be willing to donate gift cards or other goods for any promotions or giveaways you have planned. This can help encourage tenants to rent with you and grow your relationships with local businesses.
Alfred, For Everything You Need to Live
When it comes to attracting new tenants and retaining old ones, you need to be prepared to not only meet expectations but exceed them at every turn. What can you offer renters that sets your complex apart and meaningfully impacts how they live their lives?
Meet Alfred, our app-based personal assistant service for people who love apartment living—from going grocery shopping to providing apartment cleaning. When you partner with our resident and building management solutions, your tenants have the option of accessing a full range of resident perks that make their lives easier, including:
- Alfred Signature Tidy-Up™ – Let Alfred handle your residents’ tidying up. We’ll clean the counters, unload the dishwasher, and take out the trash.
- Fresh flower delivery – We’ll bring fresh flowers from your local florist or grocery store right to your residents’ apartments (or the community spaces) as often as they want. You set the price, we’ll take care of the rest.
- Package returns and delivery – Alfred can ship packages via UPS and FedEx to any address. What’s more, we bring the packages straight to your residents’ door, so they don’t have to worry about losing their valuables in the mailroom.
Plus, your residents can enjoy access to our exclusive events like virtual wine tastings, exercise classes, and cooking tutorials. We’ll handle everything your tenants need, so they have time for everything they want. Make your multifamily community a home with Alfred.
Sources:
- Forbes.com. These Are the Multifamily Trends Experts Are Predicting For 2022. https://www.forbes.com/sites/reginacole/2021/11/08/multifamily-trends-in-2022/?sh=7ee9054582bb
- Parcelpending.com. Multifamily Marketing Ideas for 2020. https://www.parcelpending.com/blog/multifamily-marketing-ideas-for-2020/
- Prnewswire.com. RentPath Study: Recent Renters as Emotionally Invested as Homeowners. https://www.prnewswire.com/news-releases/rentpath-study-recent-renters-as-emotionally-invested-as-homeowners-300330765.html
- Pointcentral.com. 6 Unique Apartment Amenities Becoming Mainstays. https://www.pointcentral.com/2021/04/13/unique-apartment-amenities/