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.

3 Improvements To Help With Renter Retention

Whether you’re at full capacity at your multifamily property or not, the age old question is always how do you keep your residents happy so they continually renew their lease? This isn’t something to start thinking about right before the renewal process either. This should be an ongoing process that starts with the initial lease signing and should be on the forefront of the management staff’s mind. Here are three improvements you can focus on to help with renter retention:

Tailor Amenities to Renters’ Needs

Each property in your portfolio is different and most likely requires different amenities to cater to your residents’ needs. A lot of this will depend on your property’s location, resident demographics, and culture but adding niche amenities could be key to not only attracting new residents but maintaining renter retention. When the amenities satisfy your tenant’s needs, then they are less likely to look elsewhere when their leases end. Some examples of niche amenities you might want to consider include:

Modern Gem Design :: 3 Improvements to Help With Renter Retention
  • Pet washing and grooming stations
  • Community garden
  • Bike share or bike room
  • Rooftop lounge
  • Yoga space

Build a Community

Your community is just that… a community. Helping to build that community for your residents will make their apartments feel more like homes instead of just a temporary rental. When residents feel at home and like they belong in your community, they will tend to stay much longer. You can provide this sense of community both in-person and online for your residents.

A great way to do this is by utilizing your social media accounts. By doing so, you can share property information, provide customer service for residents, and give your current and potential tenants a sense of what is happening around the community in real time. It also provides the opportunity for residents to share their own photos, stories, and experiences which helps them connect with other residents and provides valuable feedback for you and future residents.

Hosting monthly events for your residents is also a great idea to help cultivate community in-person as well. You can host holiday gatherings, bring a food truck or another activity to your property to show your appreciation, and invite your residents to bring their friends and family members along to these activities. This not only welcomes your residents to the community and shows your appreciation but it also gives them an opportunity to meet others in the community.

Maintain Your Property

This may seem like a no brainer but your residents want to live in a community that is well cared for all year. This helps provide them with a beautiful, enjoyable environment to live in, which improves their overall quality of life.

If your property is located somewhere with different seasons, make sure the walkways, streets and parking areas are free of ice and snow during the winter months. In the summer, maintain the lawn and other landscaping. This will allow residents to enjoy the shared outdoor spaces as well as their own private patios and balconies if your property has them.

Most importantly, make sure you respond to any maintenance requests in a timely fashion. This is one of the best ways to keep your residents happy with your property. If something breaks or isn’t working properly in a unit, the last thing a resident wants is to wait for it to be fixed. Your residents will be appreciative of a timely response and help set you apart from other properties.

These improvements are fairly easy to start implementing in your community if you haven’t already but the biggest thing to remember is to ask for and listen to any feedback you receive from residents. If there is a continued trend in feedback it might be time to really consider some changes to keep residents happy.

If you need help implementing these changes or renovating your property, contact us today!

2017 Multifamily Property Trends

As we come to the end of 2016, it’s time to say goodbye to some outdated trends and hello to some exciting new advancements in the multifamily property industry. It’s also a great time to take a look at your property to see where you can make improvements, analyze your renovations budget, and decide where you’d like to invest your efforts. Part of this is looking to the future to see if there are new trends you should consider implementing in your property. So let’s talk about some trends to consider for the New Year!

Color Trends

While you may not want to change your paint colors every year, a fresh coat of paint when needed is one of the easiest ways to keep your property updated. Keeping the color scheme in a more neutral palette is always a great idea to create an inviting atmosphere that future residents can imagine themselves in. However, consider adding a bolder accent wall to provide some dimension to the room as well.

Modern Gem Design Blog :: 2017 Multifamily Property Trends

If you’re in the market for a fresh coat of paint, we’d suggest looking at Sherwin Williams’ 2017 Color of the Year, Poised Taupe. The neutral color offers a cozy, welcoming environment that both your current and future residents will love. In addition to this warm neutral, Sherwin Williams also sees a number of other color combinations to be used along with a taupe palette. Check out their color combination predictions and let us know which is your favorite. (Ours is the Yellow POP combo!) 

Green Property

Another improvement you may want to consider for your property is going green. A new report by Freddie Mac found that more renters were concerned with rising utility costs than rising rents. According to the report, 88% of participants agreed that multifamily properties with energy- and water-saving features would help reduce their utility bills, with 84% saying green properties are generally better places to live. Nearly half of those said they would actually be willing to pay more for an environmentally friendly rental. 

Considering these findings, it may be a perfect time to start implementing more environmentally friendly options into your property in 2017 if you haven’t already. Not only will it provide energy-savings for your residents but also for you as a property owner. You will also be giving your property a competitive advantage over other multifamily properties in your area that have not yet implemented green technology allowing you to charge a premium.

Amenities

Bike rooms are quickly becoming a must-have amenity for multifamily properties. As U.S. cities become more bike friendly and people become more health-conscious and environmentally friendly, properties are starting to carve out space to create bike rooms to fit their residents interests and needs. This allows residents a safe place to store their bikes so they don’t have to get creative with their storage solutions in their own homes. If you want to step it up a notch, you may want to outfit the room with security cameras, secure access, tire pumps, and equipment lockers.

Modern Gem Design Blog :: 2017 Multifamily Property Trends

Bike rooms may not be the only amenity you’d like to integrate into your property but it is definitely something to consider for 2017 and beyond!

While you may not implement all of these trends in 2017, they are important to consider for your future renovations. These will help increase your occupancy and your bottom line, which is exactly what we want!

If you’re interesting in discussing how to implement any of these or other trends, contact us today!