TIP OF THE MONTH

December, 2002 

SIGNS OF THE TIMES - APARTMENT MARKETING

Source: Journal of Property Management (Nov.-Dec. 2002) 

Upon first glimpse of your property, a Prospect takes in every detail in sight. Is the lawn carefully mowed? Is the landscaping attractive and maintained? Are the windows clean? The exterior of your property can either make a great or poor impression. According to a recent apartment renter survey conducted by Multifamily Solutions, 63% of apartment hunters look for an apartment after work: 90% of respondents drive around their desired neighborhoods looking @ apartments (communities). 

Signage has always played a role in marketing residential properties: Rather than the traditional square "for rent" sign, you can opt for a more conventional approach: signs in new shapes & dimensions/better use of sidewalk signage/placing signs advertising properties for rent in vacant stores, property brochures/making changes to update units (ceiling fans & ice makers to replace wine racks & kitchen tv's, etc. 

An increasing number of Prospects go online to find an apartment: this could be your 24 hr. leasing office: a study revealed the most requested pages on property sites are a virtual tour, floor plans, photos, contacts & amenities. A winning site has a good appearance & presentation (pictures-home page-details). Residential communities thro-out the country are taking advantage of the Internet to better market their properties. 

The key to generating traffic is to differentiate your property or unit from those of your marketplace, understand your strengths & weaknesses and create innovative ways to attract the attention of today's apartment renters. Learn more/do more/research more and read more.

 

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This web page was updated on 12/03/2002