Tips for Showcasing Your Multifamily Property’s Upgrades on Social Media

Modern Gem Design :: Tips for Showcasing Your Property's Upgrades on Social Media

You’ve taken the steps to make necessary renovations to your property but no one will know about them without properly marketing your property. That means it’s time to really show off the beautiful new updates you’ve made not only on your website but also using social media. We’ve already shared our tips on marketing your property on social media but today we’re going a step further with some tips for really showcasing all your property has to offer!

Model Unit

You can use your model unit to really highlight the story behind your property just like you would with an in-person tour. Giving future residents a look either through photos or video of the unit will give them an idea of the quality finishes you’ve incorporated throughout your property. By doing so, they can start to picture themselves living there which will ultimately help get them through your door for an in-person tour.

Available Units

Similarly to your model unit, you can highlight the units you have available on your social media accounts. Give a quick tour and make sure you showcase each units’ layout and specific benefits. This could include spacious closets, a balcony, a storage area, high-end appliances, etc. Since you have several layouts in your property this will give future residents an idea of unit size and layout so they can determine which works best for them. (Don’t forget to mention which layout you’re highlighting!)

Outdoor Spaces

Your units might not be the only area that you’ve made updates! Highlighting the outdoor spaces your property offers will help draw prospective residents in. Show off your pool and grilling areas. If you have a dog park, make sure you share that so pet parents know your property is pet friendly.

Your amenities have a huge impact on the quality of life you offer residents so you want to make sure you’re highlighting every area of your property. Ideally you’ll showcase your current residents enjoying these spaces so you can help give prospective tenants an idea of the community they will be joining.

Staff Members

Your office and maintenance staff are the people interacting with your residents on a regular basis. So you’ll want to introduce them and showcase their personalities on your social media accounts. This give not just prospective residents an idea of how friendly and helpful your staff is but it helps keep your current residents in touch with them.

Make sure you introduce new team members as they join, highlight birthdays, and other fun activities your staff is involved in.

Property Updates and Maintenance

This might not be the glamorous side of your property but residents like to know that the property they live in will be taken care of. Give residents a look at new landscaping as it’s going in. Let them know you’ll be painting or adding new amenities. Showing these on social media is a fun way to give current and future residents a sneak peek of what’s to come!

Neighborhood

Location is often a large factor in where people live so it’s always fun to highlight the neighborhood. Is there a new restaurant going in down the street? A boutique that many of your residents frequent? Give shoutouts to these other businesses. Highlight walking trails or other nearby activities that your residents can enjoy. This will show you’re in tune with what’s going on in the neighborhood while you highlight how great of an area it is to live in!

Unlike with printed marketing materials or on your website, social media can give a much better picture of what it would be like to live at your property. Because of this you want to make sure you’re doing everything you can to showcase all your property has to offer.

Contact us today if you’re looking for help with upgrades that you can proudly showcase on social media.

How to Prepare Your Multifamily Property for Hurricane Season

Modern Gem Design :: How to Prepare Your Multifamily Property for Hurricane Season

Hurricane season is officially here and after last year’s particularly devastating season, you want to make sure you take all the necessary precautions to not only keep your residents safe but also protect your property from costly damage if possible. Luckily there’s a lot you can do ahead of time to help mitigate any potential issues during a storm and we’re sharing our tips for preparing your property for hurricane season as well as any other storms.

Plan ahead

Thoroughly planning ahead of hurricane season can ensure everyone’s safety as well as preventing property damage. We recommend having a comprehensive plan with clear procedures in place. Include key information like staff contact information, residents’ contact information, emergency contacts, roles and responsibilities for staff and essential personnel designations. Also include a checklist for staff to follow to prepare the property in case of a storm.

It’s also important to make sure you communicate properly with your residents and provide them with procedures to follow if needed as well. This could include tips on how to make their particular unit storm ready, disaster-relief information, shelter information, emergency response numbers and evacuation plans. Make sure every building has a reliable means of communication that can be used during a storm. Consider implementing an alert system that sends automated email and/or text messages. A staff member would also be designated as a liaison with emergency service providers if needed.  

All of this information should be reviewed at the beginning of every hurricane season but it’s important to also refresh everyone prior to the threat of a hurricane so everyone is on the same page.

Make Updates to your Property

Making updates to your property may take some upfront investment but it will help you avoid costly damage in the long run. Consider relocating electrical panels, mechanical equipment, gas and electric meters, and shut-offs to higher ground. You’ll also want to make sure you seal cracks or openings in walls and the foundations of your various buildings. Creating an overflow pond with a drainage system throughout the property can also help prevent flooding in lower areas more prone to flooding.

Prep Property

Whether you’re making updates or looking to protect your investment, having the necessary supplies on hand can be critical during a storm. Consider having sandbags to prevent flooding in problem areas as well as having a pump on hand in case you do have flooding. Plywood and tarps can also be extremely helpful in mitigating any damage until repairs can be made after a storm. Having these supplies stored away all year can help you avoid not having them in the event of shortages prior to a hurricane.

Other things you will may want to consider for your property are:

  • Making sure your generators are working properly and any other necessary equipment you may need during a storm or power outage.
  • Going through the entire property and store away potential projectiles like pool furniture. You’ll also want to make sure your residents do this if they have balconies and/or patios.
  • Making sure you have all important files and sensitive equipment like computers stored safely.

As you can see, planning ahead so your property is prepared for hurricane season is the best way you can protect your residents and investment. If you don’t have any of these procedures in place and you have properties in hurricane areas, we highly suggest developing them. That way you can keep everyone safe and minimize as much damage as possible in the event of a hurricane.

Part II: 3 Tips for Completing Your Multifamily Property's Rebrand

In Part I of this blog series, we addressed some of the signs that you might want to consider rebranding you new multifamily property including:

  • Your multifamily property currently doesn't have an identity
  • You want to improve the previous poor reputation
  • You are planning on renovating or adding amenities to your property
  • Your revenue isn’t where you want it to be and you want to attract a higher price point
  • You’re losing tenants to nearby competition

Now that you’ve decided it’s time to rebrand, we’re sharing our top tips to make your property image overhaul a smooth and successful process.

Know your community’s strengths and define your target market

Your community’s strengths are essentially what makes your property unique compared to your competition. Maybe your property has a perfect location or you offer amenities that other nearby properties do not. Whatever it is, knowing your property’s unique value proposition is paramount when it comes to rebranding and appealing to your target market.

Similarly, you’ll want to consider who you are targeting with your new property image. Young professionals? Families? Students? By defining your market, you can build your new brand with this audience in mind. Not only will this help with your new marketing plan but this will also help when it comes to renovations.

Cosmetic repairs are important in rebranding your multifamily property

Most rebranding projects also include some renovations. This will ultimately help attract more future tenants in renting out units of your multifamily property. To evaluate where your property needs the most updating, take a quick scan and evaluate what your target market values most. This will help guide your renovations. Typical renovations that are included in an image overhaul include:

  • Paint schemes (interior and exterior)
  • Clubhouses
  • Outdoor living space
  • Leasing center
  • Fitness center
  • Model units
  • Common areas
  • Business centers

Don’t forget your landscaping. While repainting the exterior of the property improves the overall impression of the property, you should never overlook your landscaping. Pair a freshly manicured lawn and beautiful landscaping with a new coat of exterior paint and your property will certainly stand out to future residents.

Hire experts to set your new brand up for success

There are a lot of moving pieces when it comes to an image overhaul so bringing on help to handle each of these pieces will not only alleviate some stress but also help set your new brand up for success. You’ll want to consider hiring:

  • A graphic designer to help with your new logo and marketing materials
  • A copywriter for your marketing materials and website copy
  • A photographer to take quality photos to show off all the new improvements you’ve made to the property
  • A design renovation firm to help coordinate all the renovations that need to be done

Hiring these professionals can help with some of the heavy lifting so that you can focus on getting the best ROI for your property.

If you’re looking for help with your property image overhaul, contact us today!

Part I: 5 Signs It Might Be A Good Idea to Rebrand Your Multifamily Property

Rebranding your recently purchased multifamily property can provide your property with a fresh start. It gives you the opportunity to evaluate what is working, what isn’t and make adjustments to your brand with your target audience in mind. By doing so, you are able to make a pivot in your current marketing strategy and promote your property in a new way to a completely new audience. But how do you know if rebranding is right for your property? We’re digging in and sharing five reasons it might be a good time to give your property a new look.

Your multifamily property currently doesn’t have an identity.

Can you easily provide an overview of your new property? Would you describe it as high-end, modern, traditional, resort-like? Even if you are able to identify key attributes how are they stacking up with your goals? Do you have a high vacancy rate? Are you attracting your ideal tenants? This is a good time to not only focus on defining your brand but also making sure that definition lines up with your goals. This will help you attract the type of residents that are perfect for your new community and help increase your bottom line!

You want to improve the previous poor reputation.

This is one of the biggest reason you’d want to consider a rebrand for your new property. There are numerous reasons the old owners may have had a less than favorable reputation and in the age of online reviews, it can be very difficult to save a property’s reputation. However, you don’t want this past reputation to hurt your property and rebranding provides you with the opportunity to create a new identity and reputation for your property. This also gives you a chance to improve upon any feedback from previous tenants if needed.

You are planning on renovating or adding amenities to your property.

There’s no better time to rebrand than if you are planning to renovate or adding new amenities. You’ll want to make sure these improvements are highlighted throughout your marketing materials to maximize the return on your investment. Renovations and upgraded amenities can help your property stand out to a new audience and by rebranding you are able to shine light on these upgrades. This will help reflect your new and improved property to attract new potential tenants while also keeping your current residents.

Your revenue isn’t where you want it to be and you want to attract a higher price point.

The reason you’re not attracting a higher price point is because your property isn’t reflecting that. Rebranding can help you craft your messaging and maximize the appeal of your property to your ideal tenants. Often, property owners put a lot of work into renovations and upgrading their properties, but fail to reflect those changes in their branding which doesn’t yield the results they are looking for. By rebranding and positioning your property with more of a sophisticated vibe, you’ll be able to attract that higher price point so ultimately, your revenue is exactly where you want it to be.

You’re losing tenants to nearby competition.

Creating a strong brand identity, especially in a competitive market, is extremely important. If you’re losing potential and current tenants to nearby communities, you’re going to want to take a hard look at your marketing and brand. Are you highlighting the value of your property? All of the amenities and upgrades? What is the competition doing or offering that your property isn’t? It may be time to make some adjustments to your brand identity based off what you find. First impressions matter, especially in a crowded market so it’s important that you stand out.

Looking for assistance with a rebrand for your property? Contact us for more info on how we may be able to help.

Tips for a Smooth Multifamily Property Renovation

Renovating your multifamily property can not only allow you to increase the value of your property but can also increase your rental rates, which is always an attractive idea for property owners. Not only that but it can also help you attract your ideal tenants, and improve renter retention. That being said, renovation projects are not a small feat and it can be easy to get in over your head quickly with projects if you aren’t careful. There is a lot of planning involved and you want to make sure your project goes as smoothly as possible. This will not only help stay on budget but will also keep from disturbing current residents. Here is some advice to consider:

Focus on Renovations with High Return on Investment

When it comes to renovations, getting a high return on your investment is often top of mind. Depending on your per unit renovation budget, you will want to be selective of the upgrades that you make. For example, gut-renovations and changing the layout of apartments is much more costly than changing paint colors and upgrading the finishes throughout. It’s important to identify renovations that will have a high impact for your tenants while staying within your budget.

Another important piece of advice is to make sure that you don’t over-renovate. Before you begin any renovation project it is very important to be aware of your market and comparable units in the area. A costly mistake can be investing more into a property than you will be able to get back through rental rates.

Plan for the Unexpected

As with any renovation project, when you begin construction there is always the chance that something will go wrong. Whether that is unexpected expenses or a drawn-out timeline, it’s best to have a plan in effect to account for different scenarios. It is also very important that you do your research on the contractors and companies you work with on the renovation so that you are very clear on who is responsible if any issues should come up.

Don’t Forget Amenities, Curb Appeal, and Model Unit Renovations

Beyond unit renovations, don’t forget about renovations to your leasing office, clubhouse, property maintenance and amenities. This is especially important if you will be doing your renovations in phases while tenants are living on property. During construction, it is important to try and keep current tenants happy and excited about the improvements, while also capturing the interest of new tenants. Improving the curb appeal of your property with exterior paint and landscaping can be a great way to improve your property. Upgrading the amenities you offer or adding new ones can also be a big selling point for tenants.

Hire a Professional

Renovation projects can easily become overwhelming and hiring an expert, like Modern Gem, who specializes in multifamily properties can put your mind at ease. They can take most of the project off your plate coming to you when decisions and details need to be made. They’ll also handle coordination with trusted-contractors so you know your property is in good hands. This way you can make sure your project goes smoothly from beginning to end.

If you’re interested in learning more about our services, please contact us.