How Knowing Your Multifamily Property’s Neighborhood Gives You an Advantage

Modern Gem Design :: How Knowing Your Multifamily Property’s Neighborhood Gives You an Advantage

You may know the ins and out of your property but what about the neighborhood your property is in? While on-site amenities are nice, potential renters are also looking to see what the surrounding area has to offer. Is there close by shopping for convenience? Walking trails? Renters are looking for a property and location that fits both their lifestyle and personality. This means you can actually use your knowledge of the neighborhood to your advantage when marketing your multifamily property.

Know the Area

It’s important that your property manager and staff are all very familiar with the area whether they live there or not. When prospective residents come in for a visit and ask what the neighborhood is like, your staff should be able to easily answer any questions and provide suggestions. Is there close by transportation if needed? Restaurants and bars? Grocery stores? Gyms? Coffee shops? All of these things factor into a renter’s decision and you want to make sure your staff can not only sell your property but also the neighborhood.

They should also know the area’s demographic trends. Is the area downtown with a lot of young professionals or out in the suburbs with more young families? This can also be a selling point for future residents that are not from the area so they make sure they are living in a neighborhood that fits their lifestyle.

Make Necessary Updates to Fit the Neighborhood

Depending on what you find when it comes to demographic research and trends, you may need to make some updates to your property. Are you noticing a lot more gyms and healthy restaurants popping up in the neighborhood? This may be a sign that people in your area are focusing more on health and you can tailor your property updates and renovations to fit that. Or maybe you notice more families touring your property and moving to the area. That may be an indicator that it’s time to upgrade your playground and add other family friendly amenities. Paying attention to what is happening in your neighborhood is a good indication on the types on upgrades you your put your focus on to attract your ideal tenants.

Get Involved in the Community

A great way to get to know your property’s neighborhood better, as well as market it, is to get involved in the community. Whether it’s encouraging staff members to get involved or you do it as a team, this is a great way to get to know the people in your community. This in turn will also potentially introduce your property to those in the community and help spread the word about your staff and your property.

Update your Marketing

Last but not least, once you get to know your property like the back of your hand and you make any necessary renovations, it’s time to update your marketing. You’ll obviously want to highlight the changes you’ve made but you’ll also want to highlight any particular hot spots in the neighborhood that your ideal renter’s would be interested. While saying close to grocery stores and shopping is great, highlighting specific hot spots will help draw in more people. Whether you do so with photos, a map of the surrounding area, or in your copy, it’s important to make sure renters know what they’re getting from both your property and your neighborhood.

If you need help with renovation suggestions based on your area, contact us today to schedule a consultation!

Using Social Media to Market your Multi-Family Property

Modern Gem Design :: Using Social Media to Market Your Multi-Family Property

In our last blog we talked all about how tech can help make your multi-family property more accessible in a digitally-driven world and today we’re going to take that a step further. Not only does having a strong web presence allow you to reach a wider audience and streamline your renter process, but you also have the opportunity to seek out your target audience directly! When you think about your website, people are generally landing on it from search results, your social media channels or word of mouth -- generally they’re coming to you. On the flipside, social media actually allows you to flip that concept on its side and allow you to seek out and engage directly with your target audience. Social media is so much more than just posting an update here or there and it has a lot of potential when it comes to targeting your audience when done strategically. Here are some tips to make it work for you.

Using Social Media to Network with Your Target Audience

As we mentioned, posting content that is relevant is one part of your social media strategy (and an important one too) but that’s not it! Something a lot of people miss out on with their strategies is actually engaging with others and if you’re just talking to yourself then social media isn’t all that social. So what should you do?

  • Join local Facebook groups: A great way to get in touch with people you think would be interested in renting at your property is going where they are active on social media. One great place to connect is Facebook Groups. There are groups for just about everything and a lot created around local communities. You’ll have to join these from a personal account, so before you start make sure your account is professional and representative of your property. Once you join, you’ll be able to engage with others posts and in conversation around local happenings. Plus, when people post that they are looking for a new place to live or recommendations, you will be able to chime in and let them know about your property.
  • Explore Instagram Hashtags: When you’re looking to network with locals, another way you can seek them out is by monitoring local hashtags. Instagram offers a great feature where you can also follow hashtags now too. Select a handful that are relevant to your audience and then take some time each day to look through them, engage on others’ content and follow others when you’d like to make a connection.

The thing to remember when using social media as a networking tool is that this component is focused on creating relationships. These efforts are more focused on being informational and engaging with others rather than spamming others with ads for your property. This is all about long-term success and increasing your awareness from all angles.

Creating Approachable Content

When it comes to the content on your social media, strive to create content that is educational, interesting and approachable. As we talked about above, when it comes to monitoring hashtags, make sure you’re also optimizing your content by using applicable hashtags that people might use to find your account. People want to connect with other people on social media so make sure your posts are personable! When you highlight new upgrades, don’t just post a photo of them. Showcase someone enjoying them or provide a real-life example on why the feature is so great in the caption. You can also use video content to your benefit by:

  • Doing full walkthroughs of new units available
  • Interviewing the lease managers on the process or their favorite things about the property
  • Showcasing community events
  • Highlighting new amenities and upgrades

We’ve talked about how important it is to showcase that your property provides more than just a home, but a community and your social media is the perfect place to do so.

Give Them a Reason to Follow You

Another important thing to consider when it comes to your networking or content strategy is to make sure you give others an ongoing reason to follow you. You want more than just people to find your accounts when they are looking for a new place to live. Instead, you want appeal to people who are looking for a new place to live, your current tenants, plus those who may want to live at your property in the future. It’s all about finding a balance and a great way to do that is mix up your content. Instead of just posting about your property, try showcasing different articles about things going on in your city, top picks for restaurants and bars, or even local history. By mixing up your content your social media footprint will be more than just a marketing tool, it will be about being an influential voice and valued part of the community. As you increase your community and influence, you also expand the awareness of your property which can also benefit your bottom line which is a win win if you ask us.