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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.

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How Top Rental Management Companies Manage Bad Reviews

Author: cl@ss
Categories: Property Management Tips,Property Marketing,Rentals
Rental management companies checklist for handling negative online reviews: blog image of a woman reading a negative review on a smartphone.

Today’s potential renters heavily rely on online reviews, especially when it comes to reviews of rental management companies. Negative feedback can significantly impact your business and deter potential tenants from considering your property.

How you handle negative online reviews can also be an opportunity to showcase your professionalism and dedication to customer satisfaction.

Here’s a practical, step-by-step guide the best rental management companies use to successfully manage negative online reviews.

Step 1: Monitor and Respond Promptly

Regularly monitor review platforms and social media channels where people tend to express their opinions about your property. Promptly responding to negative reviews demonstrates your attentiveness and willingness to resolve issues.

  1. Apologize for any inconvenience caused;
  2. Acknowledge their concerns; and,
  3. Provide an invitation to discuss the matter further offline, emphasizing your commitment to addressing their problems.

Some reviewers may be known troublemakers who have no interest in resolving an issue or may have posted a fabricated story, but that’s not the point of responding the same way to every negative review. Your response will be seen by potential renters, and they’re the ones who need to see your professionalism and concern in your responses.

Step 2: Investigate and Gather Information

Take the time to investigate the issue mentioned in the review before you respond. Speak with staff involved and collect all pertinent details to ensure you have a comprehensive understanding of what transpired. This investigative process will help you respond more effectively to the reviewer and handle the situation professionally moving forward.

Step 3: Answer Publicly with Empathy and Transparency

Publicly address the reviewer’s concerns in a polite, empathetic manner. Avoid generic or “canned” responses and demonstrate that you genuinely understand their dissatisfaction. However, avoid engaging in public arguments or sharing confidential information. Instead, move the conversation offline and provide alternative channels to address their concerns privately.

Step 4: Take the Conversation Offline

Respond to the reviewer’s comment by providing your contact details or suggesting alternative methods of communication, such as phone or email. By moving the conversation offline, you can delve into the issue more thoroughly and offer a personalized solution. This step showcases your commitment to customer satisfaction and allows for a more private discussion to resolve the matter. Privacy is important to tenants, so prospects will appreciate your discretion.

Step 5: Resolve the Issue and Provide Feedback

After connecting with the reviewer privately, actively work toward resolving his or her concerns. Offer solutions, whether it’s offering a discount, addressing maintenance issues promptly, or providing extra assistance if necessary. Not only does this help resolve the immediate problem, but it also demonstrates your dedication to improving your property and services.

Additionally, consider asking the reviewer to update or remove his or her negative review after all concerns have been satisfactorily addressed. Remember to follow up with a new reply to the review after you’ve spoken with the reviewer, to show you’ve followed through and resolved the issue.

Step 6: Learn from Each Review

Every negative review offers an opportunity for growth. After resolving the issue, evaluate the feedback and look for common themes or trends. Use this information to improve your property management practices, address recurring issues, and enhance customer satisfaction moving forward. Taking proactive steps to rectify issues highlighted in negative reviews can lead to positive changes in your property’s reputation.

Top Rental Management Companies are Proactive About Negative Reviews

Dealing with negative online reviews requires tact, empathy, and a proactive mindset to protect and enhance your apartment’s reputation. Adopting the steps outlined above in a standard operating procedure will enable you to effectively handle negative feedback while demonstrating your commitment to customer satisfaction. By viewing negative reviews as opportunities for improvement and growth, you not only rectify problems, but also enhance your property’s overall reputation.

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The Importance of Apartment Staging

Author: cl@ss
Categories: Blog,Property Marketing,video
Image of a beautifully decorated gourmet kitchen with flowers, an image for the blog on Apartment Staging Property Marketing.

Did you know that apartment staging can fill a vacant unit an average of 80 days faster than in a community that doesn’t have a staged apartment? Staging a home or an apartment can help prospects envision themselves living in the space, and any marketer knows that vision is tied to emotion, and emotion drives people to make decisions.

Use apartment staging to drastically shorten your vacancies and improve occupancy rates. We’ll tell you how, but first thing’s first.

What is staging?

Staging a home, or arranging it with furnishings and accents to make it appear lived-in, is a popular tactic and one that real estate agents everywhere tend to invest their time and money into. So, the logical thought is this: If staging does so much for selling homes, why can’t it do just as much for rental homes and apartments?

Why apartment staging works

Imagine walking into a unit you’re interested in renting, or seeing a virtual tour video online. The unit is empty. There is nothing in the rooms except open space and bare walls. While some managers make the mistake of thinking that open space is a blank canvas for a prospective renter to view their future, this is most often not the case. A prospective tenant may, in fact, find him or herself overwhelmed at the very thought of trying to imagine how furniture will fit and how certain things will look.

Now, imagine walking into a unit that is moderately furnished and arranged to look as though it is lightly lived in and every space has a well-designed purpose. You can see how beds fit in the bedrooms, get a feel for the living room space and how well your stuff will “go,” and you’ll even get a feel for color palettes.

This is because apartment staging does two things:

  1. Helps prospective renters see all that is possible in the space
  2. Allows the presentation of certain features while minimizing other features that aren’t as desirable

Want to get units rented quickly?

We’ve got a strategy for apartment staging that works every time. Here’s how to do it right:

  1. Find the Space. It may not be economical to bring in a staging crew and materials for every vacant unit. In these cases, try to reserve one unit for the purpose of staging. Many managers use the staged unit as the office if there is not an actual office space on the property. Either way, you can always look into writing a staged unit off as a marketing expense.
  2. Rent. If you have the ability to stage individual units, renting furniture may be your best bet. This way, you have a great design for the exact amount of time you need it. As an added bonus, many rental stores deliver.
  3. Invest. If, on the other hand, you’re looking for a long-term solution, remember that you don’t have to buy brand new, brand name furnishings. Lightly used and well taken care of items will definitely suffice. So, keep your eye on Craigslist and any area Buy-Sell-Trade Facebook pages where people tend to list some very affordable furnishings and designs.
  4. Mind the Color. To get the most from staging, you need to pay attention to color schemes and trends. Just because you are getting a couch from Craigslist and chairs from the newspaper doesn’t mean you can just throw whatever into the space and produce a hodge podge layout. The power of staging is in the ability to make a unit look like the best version of itself.
  5. Watch for Details. Throw pillows, window coverings, art work, and a small number of knickknacks should all be on your list. But, again, don’t go broke over the details. Some of the best stores for highly desirable home décor that won’t break the bank include Home Goods, Marshalls, TJ Maxx, and Ross.

Rather leave it to the pros? We love staging, and we love getting the properties under our management to maximum occupancy even more. Contact us today to see how we can work together. Call 817-295-5959 or email us at info@classamgmt.com.

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Harnessing the Power of a Multifamily Podcast for Property Managers

Author: cl@ss
Categories: Blog
Multifamily podcast markting

As a property manager, utilizing a multifamily podcast can revolutionize your rental property marketing strategy, enabling you to effectively reach and engage with prospective and current tenants. The multifamily podcast offers a dynamic platform to showcase your properties, share valuable insights, and build relationships with prospective renters. Read a few of our podcast tips and tricks for property managers starting their own podcasts below.

Connect with Prospective Tenants
A multifamily podcast allows property managers to connect directly with prospective tenants. Through podcast episodes, you can showcase your rental properties, highlight their unique features, and communicate the benefits of living in your communities. This personal connection helps build trust and creates a sense of familiarity before prospective tenants even visit the property.

Share Property Highlights and Stories
Podcasts offer a storytelling platform that goes beyond traditional marketing methods. Use your multifamily podcast to share compelling stories, success stories of current tenants, and showcase the amenities of your rental properties. Through engaging narratives, you can captivate your audience and generate excitement about your properties.

Expert Insights on the Rental Market
Position yourself as an industry expert through your multifamily podcast. Share insights on the rental market, market trends, and expert advice on topics relevant to prospective tenants. By offering valuable information and positioning yourself as a knowledgeable resource, you build credibility and attract tenants seeking trusted guidance.

Highlight Neighborhood and Community
Beyond promoting your properties, use the podcast to highlight the surrounding neighborhood and community. Discuss local attractions, amenities, schools, and events that make your rental properties desirable. By showcasing the community, you attract tenants who are not only looking for a great home but also a vibrant and welcoming neighborhood.

Conduct Property Spotlights
Dedicate episodes to spotlight individual rental properties. Describe the unique features, amenities, and floor plans, and share stories of current tenant experiences. Highlighting specific events on your properties can showcase the community aspect of your rentals. This personalized approach allows prospective tenants to envision themselves living at the property and fosters a deeper connection between you and your tenants.

Feature Testimonials and Reviews
Incorporate tenant testimonials and reviews into your multifamily podcast. Share the positive experiences and satisfaction of current and past tenants, highlighting their testimonials and feedback. This social proof reinforces trust in your properties and boosts the credibility of your rental properties.

Engage in Q&A Sessions
Host Q&A sessions in your podcast episodes to address common questions and concerns prospective tenants may have. Encourage listeners to submit their questions, and provide informative and detailed responses. This interactive approach demonstrates your commitment to transparency and fosters a sense of trust with prospective tenants.

Starting your own multifamily podcast can be a powerful tool for your marketing toolbelt. Embrace the podcasting journey and unlock new opportunities to contribute to the success and advancement of your rental communities.

Interested in more suggestions and tips for your podcast journey? Our professionals know multifamily marketing. Contact us today at 817-295-5959 or email us at info@classamgmt.com.

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Marketing to Different Generations to Optimize Success

Author: cl@ss
Categories: Blog,Property Marketing
Image of six people representing various generations for the blog post Generation Marketing Tips.

In the dynamic field of property management, understanding and effectively marketing to different generations is essential to attracting and retaining tenants. Each generation has unique preferences, lifestyles, and priorities, influencing their choices when it comes to rental properties. By implementing generation-specific marketing approaches, property managers can optimize their success in attracting and catering to tenants from various age groups.

Understand the Generational Landscape

Start by familiarizing yourself with the characteristics and preferences of different generations. From the tech-savvy Gen Z to the independent-minded Millennials to the career-driven Gen X and the seasoned Baby Boomers, each generation has distinct values, expectations, and communication preferences. Understanding these nuances will enable property managers to customize their marketing efforts accordingly.

Tailor Messaging and Communication Channels

Craft targeted messaging that appeals to each generational segment. Use language and imagery that resonate with the specific values and aspirations of each generation. Consider using different communication channels to reach different age groups, such as social media platforms for younger generations and traditional media outlets for older generations.

Embrace Technology

Leverage technology to attract younger generations and showcase your properties effectively. Utilize virtual tours, high-quality images, and engaging video content to provide an immersive experience for tech-savvy renters. Consider implementing online rental applications, digital lease signing, and convenient payment portals to cater to the preferences of digitally native generations.

Highlight Amenities and Features

Different generations prioritize different amenities and features. Customize your marketing materials to emphasize the selling features that resonate with each age group, and remember to stage your model apartment for marketing materials and tours. Highlight communal spaces, fitness centers, and social activities for younger generations, while emphasizing convenience, accessibility, and peaceful environments for older generations.

Foster a Sense of Community

Creating a strong sense of community is crucial to attracting and retaining tenants of all generations. Emphasize the social aspects of your properties by showcasing common areas, highlighting community events, and promoting opportunities for social interaction. Encourage tenants to engage with one another and create a welcoming environment for all.

Prioritize Sustainability and Energy Efficiency

With increasing environmental consciousness, sustainability and energy efficiency are important considerations for many tenants, regardless of generation. Highlight eco-friendly features such as energy-efficient appliances, recycling programs, and green spaces. Positioning your property as environmentally responsible can attract a wide range of tenants.

Offer Flexible Lease Options

Recognize that different generations may have varied needs and preferences when it comes to lease terms. Consider offering flexible lease options such as shorter-term leases or month-to-month arrangements to cater to the lifestyle choices and mobility requirements of younger generations. Meanwhile, offering longer-term leases may appeal to more established and settled tenants.

Leverage Testimonials and Reviews

Positive reviews and testimonials from tenants of different generations can significantly influence the decision-making process for prospective renters. Encourage satisfied tenants to share their experiences and feedback online or through testimonials. Display these testimonials on your website and social media channels to build credibility and trust among prospective tenants.

Continuously Adapt and Evolve

The preferences and expectations of generations evolve over time, so it’s crucial to stay informed and adapt your marketing strategies accordingly. Regularly reassess your approach, conduct market research, and stay updated on demographic trends to ensure your property management practices remain relevant and appealing to different generations.

Generation marketing is a powerful strategy for property managers looking to attract and engage tenants from different age groups successfully. Implementing generation-specific approaches will position your properties as desirable choices, ensuring long-term success in the competitive property management landscape.

Need more ideas or a company to take it all off your shoulders? That’s what we’re here for. Contact us today. Call 817-295-5959 or email us at info@classamgmt.com

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