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Market Your Property on a Shoestring With 8 Free Options

Market your property on a shoestring budget

Multifamily is one industry that is especially dependent upon integrated marketing. But, it doesn’t have to be a budget-busting endeavor. Use technology to market your property at little to no cost with the following productivity-boosting tools:

  1. Websites used to cost big bucks. But these days, WordPress offers free themes that are easy to set up and maintain. Plug photos and text into your chosen template, and your site is ready to go. (Pro tip: Using a pro to build a professional WordPress site means less time and effort on your part, and doesn’t have to be budget-busting.) 
  2. Set up a free Twitter account and send short-and-sweet messages to your target audience(s). Build your profile carefully, and customize with great pictures of your properties. Follow industry leaders like Multifamily Housing News and connections in your local community. Use hashtags that include the name of your city to keep your message circulating locally.
  3. Post photos on Instagram, but link your account to Facebook so it automatically posts to both social media accounts. Use photos that build your brand message: highlighting your property, staff, and the “day in the life” type photos.
  4. If a picture is worth a thousand words, just imagine how valuable great videos can be. Create video tours of your property, post them on your YouTube channel, and watch your foot traffic increase exponentially. You can even make your videos with a cell phone; just make sure they’re good quality and to the point.
  5. Establish a Facebook presence to capture the local who will look for your property there, but don’t expect a lot of reach unless you’re willing to pay to promote your posts. Facebook has become an ad-based platform, so as free promotional tools go, you need an account; but don’t lean on it too heavily for messaging.
  6. 1-2-3 Press. Write great press releases about property improvements and promotions. Tag your property name and city, and publish to a site like 1-2-3 Press for some extra publicity.
  7. Mail Chimp. Use a free online email platform to communicate with as many as 2,000 recipients. Mail Chimp is one that has a full, free library of customizable themes. With a one-click unsubscribe link in every e-mail, using the service will keep you within the letter of the law that prevents spam.
  8. Volunteer. Have your staff organize a team of volunteers to build a Habitat for Humanity home, or run a race to raise funds for a charitable cause. Volunteerism is the total package: free publicity, relationship-building, and branding, all in one.

The take-away from this list is that it doesn’t have to cost a lot to get your market your property to the best tenants. Instead of being great options, these tools are essential to your marketing mix, and to your bottom line.

The professionals at Class A Management know marketing. It’s our passion. Let us go to work for you and your property. Call us today at 817-295-5959 or send us an email to .

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Building a multifamily strategy from the ground, up

Multifamily strategy development

Real estate investing carries a daunting learning curve. But relax: you don’t need to know everything. If your focus is multifamily investing, we’re about to straighten out that curve a bit by taking you through this tri-level approach to building a multifamily strategy.

The Foundation: Know the Market

Rents in your area will be based upon local demographics and demand for apartments. Do a little research to find out which properties are the “hottest” in your area, and find out why. Do your local renters want luxury, or are they looking for walkability and convenience? Start looking for properties according to what renters want, and what’s forecasted to remain in demand for at least 10 years.

The Ground Floor: Choose Your Scale

Multifamily doesn’t only include apartment complexes with a few hundred units. Smaller complexes with fewer than 50 units, and even properties with 2-4 units, offer the economy of scale that makes multifamily so lucrative for investors. More units involve a larger initial investment, more liability, and more potential income for the investor. Decide what level of financing and risk you’re most comfortable with, and go from there. A good financial advisor can really help narrow down your choices at this level of planning.

The Top Floor: Buy, Sell, Flip

Again, decide how involved you’d like to be in the daily ins and outs of multifamily investing before you decide what you’ll do with your investment. In its purest form, real estate investing is a “buy and hold” proposition. You’ll build wealth from tenant rent, and eventually, if you’ve made a good deal, you’ll sell your property for a profit. Flipping properties is popular these days thanks to reality television, but the scale is much bigger, the investment more substantial, and the timeline longer for multifamily flips.

Whatever your approach to developing the best multifamily investing strategy for your portfolio, take that research and turn it into a workable business plan that includes viable exit strategies for every situation. That guarantees that you maximize income and profit by knowing when it’s time to buy more property—and when it’s time to sell.

The Super Special, Secret Floor

This floor is when you realize the best multifamily strategy involves working with a property management company that knows these investments and helps you get the most from the investment. Reach out to us at Class A Management today to learn more.

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Tenant Laws of Attraction

Tenant laws of attraction

When it comes to getting the attention of potential tenants, it’s important to remember the laws of attraction. Renters are going to look at every option from three different perspectives: property attraction, professional attraction, and experience attraction. Understanding this and how to increase the level of attraction in each area will help increase the odds your property is chosen as the favorite.

Property attraction entails everything from grounds keeping to office and building maintenance. When the grounds are well maintained, tenants notice. It’s called curb appeal for a reason. Trimmed hedges and well-kept lawns give prospective tenants an idea of how attentive management will be, long before human interaction occurs. You never get a second chance to make a first impression. This will likely be it. So, we encourage you to make the ongoing investment in grounds maintenance.

Professional attraction is exactly what you think it is… Does the prospective tenant like those who in charge of managing the property? Having a team of knowledgeable courteous professionals inspires confidence. This is where it can be really beneficial to work with a property management company. Their staff are often trained in customer service and know how to interact in a consistent manner with both prospects and tenants.

Experience attraction should give the investor and property management team the upper hand on the competition. The right property management company will know how to handle every situation so the prospect leaves the encounter feeling heard, answered and confident in his or her decision. This requires putting the prospect first, listening to all questions and concerns, answering as thorough as possible, and being compassionate.

Need a solid property management company in your corner? We know all the tenant laws of attraction and are here to help your property enforce them. Contact us today to get started.