Oct 23 No Comments

The Ultimate Apartment Management Companies’ Guide to Renting to College Grads: 10 Tips

Author: cl@ss

Categories: Property Management Tips,Property Marketing,Sustainable Living

Image of a recent college graduate lifting his diploma in a salute to the city skyline in the background, an image for the apartment management companies guide to renting to college grads.

Marketing apartments to recent college graduates poses unique challenges and opportunities for savvy apartment management companies. Fresh grads are members of the fastest-growing contingent of renters nationwide, with 4.5 million entering the rental market in the past 5 years.

Gen Z renters have specific preferences, communication styles, and even shopping styles to consider. If you’re going to attract them in this competitive market, you must know how to speak their (online) shopping language and appeal to their social life and values.

These are our favorite top 10 trending tips for marketing apartments to recent college graduates.

1. List Properties on the Right Sites

Two highly popular apartment listing websites among Gen Z renters are Zillow and Apartments.com.

Zillow, with its user-friendly interface and extensive apartment inventory, allows grads to browse various listings, filter according to location and budget, and contact property managers directly. Apartments.com, known for its modern design and detailed listings, provides comprehensive information on amenities and nearby attractions, making it a preferred choice for Gen Z.

Apartment management companies without a large management portfolio and self-listed rentals should consider investigating which listing site is the most popular with younger renters in their market.

2. Emphasize On-Site Amenities in Ways That Connect

Younger renters want apartment communities that offer more than just living spaces. When you create ads or website content, add virtual tours of highly desirable community features such as fitness centers, study rooms, rooftop lounges, and communal spaces.

3. Prioritize Sustainable and Eco-Friendly Features

Gen Z graduates are increasingly concerned about environmental sustainability. Promote your community’s green initiatives, such as renewable energy sources, recycling programs, and energy-efficient appliances. Demonstrating a commitment to sustainability will strongly resonate with this environmentally conscious demographic.

4. Market Apartments with Open Floor Plans to Younger Renters

Young tenants prefer open floor plans that promote a spacious and modern living environment. Focus on listing images and virtual tours that emphasize open-plan flexibility and a seamless blending of living, dining, and kitchen areas. This layout caters to Gen Z’s desire for multifunctional spaces that can be used for work, relaxation, and entertaining friends.

5. Optimize Your Community’s Social Media Presence

To effectively engage with first-time renters, establish a strong social media presence on platforms like Instagram, TikTok, and Snapchat. Post visually appealing content that showcases your community’s unique features, events, and resident testimonials. Be responsive to inquiries, encourage user-generated content, and use these platforms to build a sense of virtual community.

6. Highlight Local Attractions and Connectivity

Recent college graduates often prioritize lifestyle amenities and proximity to entertainment, restaurants, and public transportation. Illustrate your community’s convenient location, walkability to local attractions, and easy access to public transit routes. Showcasing your apartment community’s connectivity will resonate with Gen Z’s desire for an active social life, with or without a car.

7. Know if Your Property is in a High-Growth Market

When marketing to those who’ve just taken their first job out of college, high-growth markets will offer the most opportunity to target recent graduates who are moving to where the jobs are. Cities such as Austin, Dallas, Denver, Seattle, and Nashville provide vibrant job markets, cultural opportunities, and a youthful atmosphere that appeals to young renters. If your property is in a similar location, focus your marketing efforts on attracting Gen Z graduates moving to the area.

8. Leverage Virtual Tours and 3D Visuals

We can’t say this enough: offering virtual tours and captivating 3D visuals of your apartments is essential for connecting with today’s online shoppers. Provide potential residents with an immersive experience by showcasing floor plans, amenities, and community spaces. Utilize technology to cater to Gen Z’s digital expectations and empower them to explore your community remotely.

9. Facilitate Seamless Digital Communication

Young renters prefer seamless digital communication methods such as online chat, email, and text messaging. Ensure your community’s website and online portals are user-friendly and mobile-responsive. Streamline communication channels to maintain prompt and efficient communication, ultimately enhancing their renting experience.

10. Offer Flexible Lease Terms and Move-In Incentives

Younger renters value flexibility and control. Consider offering flexible lease terms and move-in incentives like reduced security deposits or waived application fees. Flexibility and affordability are key considerations for this demographic, and these offerings can help attract and retain Gen Z renters.

The Right Apartment Management Companies Create Vibrant, Youthful Communities

Effectively marketing apartment communities to recent college graduates requires an understanding of their specific preferences and needs. By leveraging popular listing websites, highlighting desirable community features and amenities, understanding ideal apartment layouts, targeting high-growth markets, and embracing digital communication preferences, property managers can attract and retain Gen Z renters successfully.

Meet them where they are and show them the home and community where everyone their age will want to live. Follow these tips, and you won’t have any problem improving occupancy with the latest generation of energetic young professionals.

Oct 01 No Comments

Rental Property Management: The Top 10 Amenities Renters Want (Survey)

Author: cl@ss

Categories: energy-efficient living,Property Management Tips,Property Marketing,Sustainable Living

Rental property management top 10 amenities list image showing a smartphone looking for a wifi signal.

At Class A Management, we know it’s crucial to stay ahead of current rental property amenities trends and understand the evolving expectations of renters. According to the results of a recent survey by Apartments.com, here are:

The top 10 apartment community amenities renters are looking for in 2023 and beyond

Reliable Cell Reception. More residents than ever work from home, so a great cell signal and wi-fi are necessities for most. With 86 percent of respondents ranking this as a top priority, it is crucial for apartment communities to have strong cellular connectivity. Property owners should consider implementing technologies that enhance signal strength, such as distributed antenna systems (DAS) or wi-fi calling options, ensuring no resident faces dropped calls or connectivity issues.
Secure Self-Service 24/7 Package Access. The convenience of online shopping has skyrocketed in recent years, making secure, self-service, 24/7 package access a crucial amenity for renters. By providing dedicated lockers or securely monitored package rooms, property owners can alleviate concerns about missed deliveries, theft, or inconvenient pick-up times.
Swimming Pool. More than 73 percent of renters surveyed said a swimming pool is still important. This classic amenity remains highly sought-after in Dallas-Fort Worth communities. Including a well-maintained pool area with comfortable seating, shaded lounges, and a vibrant atmosphere can attract potential renters, particularly during summer months when residents seek relief from the Texas heat.
Controlled Property/Amenity Access. Safety and security are paramount for renters in Dallas-Fort Worth. Implementing controlled access systems, such as key cards or secure digital codes, for entry into the property and its amenities is vital. More than 70 percent of residents surveyed agree.
Non-Smoking Buildings. In an era focused on health and wellness, 70 percent of renters surveyed prioritize non-smoking buildings. Offering a smoke-free environment contributes to a cleaner living experience and ensures non-smoking residents are not affected by second-hand smoke.
Fitness Center. With an increasing emphasis on personal fitness, a high-quality fitness center is an essential amenity that appeals to 70 percent of renters. Outfit your fitness center with modern equipment, weight rooms, and dedicated spaces for yoga or group classes to cater to the diverse needs of your residents.
Property-Wide Recycling. Environmental consciousness continues to grow, with 69 percent of renters desiring property-wide recycling services. Providing easy access to recycling bins scattered throughout the community encourages sustainable practices, reduces waste, and attracts eco-conscious renters.
Covered Parking. Covered parking was listed as a desirable amenity for almost 70 percent of renters surveyed. For renters dealing with the Texas heat and unpredictable spring weather (or even ice storms), having covered parking in DFW shields vehicles from harsh elements, improving residents’ overall experience. It could be a great selling point for your property.
Dedicated Visitor/Guest Parking. Sufficient visitor/guest parking is crucial to maintaining harmonious relationships between residents and their guests. Allocating dedicated parking spaces for visitors ensures convenience and prevents potential disputes over limited parking availability.
Controlled Access Parking. Renters value the added security of controlled access parking, with 68 percent expressing interest. Gated parking areas, keycard access, or even license plate recognition systems contribute to higher tenant satisfaction and peace of mind.

Rental Property Management Requires Knowing What Renters Want

Staying attuned to the ever-changing preferences of renters in the Dallas-Fort Worth area is essential for property owners looking to attract potential residents and retain existing ones. By highlighting rental property amenities such as reliable cell reception, secure package access, and swimming pools, apartment communities can tailor their marketing efforts to appeal to what renters are looking for in a community. Contact Class A Management if you need a team that can provide you and your residents with all the services and top amenities they want and deserve.

Apr 21 No Comments

Sustainable Multifamily Goes Mainstream

Author: cl@ss

Categories: Sustainable Living

Apartment buildings are the perfect proving grounds for sustainable building design, benefitting renters and property owners alike. Today’s designers are incorporating sustainably-sourced building materials and green public areas into energy-efficient buildings that save tenants money. These forward-thinking sustainable multifamily properties are growing more popular each year with dedicated renters, and that’s positive news for occupancy rates and market value.

Green upgrades for everyone

The best recycling in the building industry is re-using an existing property and expertly leveraging energy efficiency upgrades and healthy building design. Replacement windows and a move to LED lighting are easy and inexpensive ways for property owners to begin. When it’s time to upgrade exteriors, insulation, roofs, or interiors, choosing sustainably-sourced materials that contribute to a healthy home, and the planet, is easier than ever. If you already own an investment property, upgrading to a more sustainable multifamily property may be easier than you think.

Next step: Passive design

Naturally, as sustainable building standards tighten, builders are challenged to outdo themselves as they now strive for passively designed buildings. Passive design uses solar heat gains to heat and adequate shade and ventilation to cool the living space. Along with insulation and structure sealing, or encapsulation, requirements, this industry trend hasn’t been affordable until recently.

New building projects using passive design don’t have high-end surfaces, but energy savings and indoor air quality are becoming the most popular industry trends.

Creating sustainable multifamily spaces is possible with our help

Energy-conserving shared walls come with some challenges unique to sustainable multifamily properties. If you don’t know where to start when incorporating some environmentally friendly improvements into your property, contact Class A Management. Our managers can address the sustainability of your property and help you conserve a lot of energy, reducing overall management costs and increasing your returns.

Apr 17 No Comments

LED Bulbs Replace Mercury-laden CFLs

Author: cl@ss

Categories: Sustainable Living

Those curly-looking light bulbs that were the “wave of the future” just a few years ago will soon go the way of the dinosaur. New technology has made light-emitting diode (LED) lighting the trendiest energy-saving bulb. Brighter than CFLs and containing no toxic heavy metals, LED bulbs are becoming the more affordable green alternative to incandescent and CFL light bulbs.

Advances in lighting slow to take off

Just a year or two ago, you could expect to pay $10 for a single LED bulb. That expense was a non-starter for most property owners, who opted for the less-reliable CFL. With a shorter life span and pesky mercury, CFL bulbs proved to be less of a sustainable lighting choice than developers had hoped, but they were cheap.

When they burnt out or were broken (yikes), the responsibility to replace them fell on tenants. They mostly opted for the now-obsolete and heat-generating incandescent bulbs. Incandescent bulbs cost less and don’t have mercury, but they also raise the electric bill.

LED Bulbs are more affordable than ever

Far from $10-20 a pop these days, energy-sipping LED bulbs are brighter and cheaper than ever. Bulk contractor pack prices for 60-watt-equivalent LED bulbs are approaching traditional incandescent costs. Plus, they’re well worth a little extra investment.

An LED bulb uses 40 percent less energy than even a CFL. It will also last 20 times longer, sometimes many years, and it doesn’t harbor toxins that could harm your tenants. The best light bulbs of 2023 also allow tenants to customize their space and provide the convenience and safety benefits of smart technology.

Find sustainable solutions with Class A Management

The experts at Class A Management have an eye for details. We know that some solutions to big problems, like energy bills, could be as small as a light bulb. Investigate the benefits of LED solutions, then hire Class A Management to maximize the return on easy to implement updates.

Apr 12 No Comments

Engaging Tenants in Sustainability Efforts

Author: cl@ss

Categories: Sustainable Living

The property management world is going “green,” but it’s no longer just a marketable catchphrase. It’s an industry mandate. Responding to consumer demands drives the rental market to provide specific amenities and adjust rents accordingly. Answering the clarion call to sustainability is no different. Energy efficiency and sustainable building are cost-effective for investors and renters alike; so, it’s time to jump on the bandwagon and let tenants know we’re in this together.

By engaging tenants in sustainability efforts, you will encourage tenant loyalty and make your property more attractive to prospective tenants searching for environmentally friendly living spaces.

Energy efficiency boasts immediate cost-savings

Eco-friendly choices like LED lighting and Energy Star appliances don’t require much electricity. That means lower utility bills for renters. Renters who know how much money they’ll save on energy costs with upgraded insulation or windows are more likely to support sustainability efforts when their homes become temporary construction zones. Use one of the government’s handy energy calculators to let residents know how much money they can expect to save.

Informing your tenants about potential savings will help with engaging tenants in conversations that could lead to attracting other tenants so you can get and maintain maximum occupancy rates.

Technology is key for green marketing

Communicating with residents through technology channels is a great way to educate them about sustainability initiatives. Engaging tenants via social media, resident portal webcasts, or even simple text messages is a great way to keep them connected and informed. For the more results-oriented clientele, smartphones equipped with thermostat-control apps allow them to monitor energy savings and will help them buy into eco-friendly community upgrades.

Build community with sustainability initiatives

Encourage residents to learn more about and use the apps and digital environmental tools that support your property’s sustainability goals. A curbside recycling program, community composting, or even an electric vehicle charging station shows management’s dedication to eco-friendly initiatives. Regular communication from management and within the community will keep renters engaged.

Class A Management: Engaging tenants for decades

It always helps to have a property management team in your corner who knows how to build sustainable initiatives and communicates them to your tenants. With over three decades of experience, our professional asset managers are at-the-ready to assess your property and give you the information you need to make decisions about creating a more sustainable community.

Contact our team today to learn how you can better manage your investment property to create lasting tenant loyalty.

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The Ultimate Apartment Management Companies’ Guide to Renting to College Grads: 10 Tips