Even if your apartment complex or other rental property is one of the best in the area, a decent amount of resident turnover is both healthy and expected. As such, attracting new residents to your property is always at the forefront of a property manager’s mind. Below are some effective strategies for enticing new residents to rent at your property.
First and foremost, you need to establish an excellent property management team. A team that makes residents feel welcomed, heard and cared for is your most valuable asset in attracting new leaseholders to the complex.
When you have an excellent management team, positive online reviews should come easily. Don’t be afraid to send out automated emails encouraging residents to review your property on your Google Business page, Apartments.com or similar sites. When potential residents are trying to decide between your property and another, positive online reviews could be their deciding factor.
One thing that can be the deciding factor on whether or not a potential resident chooses your property is the lease specials and incentives you offer for new residents. Many properties will offer 4-8 weeks free, Visa gift cards or other rewards for simply signing a lease. This can greatly reduce moving costs and draw in new residents. You can also advertise “free laundry” by utilizing a FasCard system in your laundry room.
Potential residents may use social media to get a better sense for your property. By posting frequently on social media, you can show off your property as well as specials and events.
Today, most newer properties have adopted a friendly outlook on pets. Pet parks, dog washing stations, and reasonable pet fees or deposits can help bring in new residents. Consider revising your pet policy if necessary and you’ll expand your pool of potential residents.
Sponsor or organize fun events in your area and set up a booth where attendees can learn more about your property, get free swag and even schedule a tour. Even if they aren’t in the market for a new place, there is a higher chance they will remember your property when they start their search.
Unique amenities such as pet parks, spacious 24-hour gyms, large outdoor lounge spaces, card laundry machines that can be controlled via smartphone, private garages or storage spaces, and package lockers can push your property above the rest.