This week we continue our series on how to keep a competitive edge in the property management business. Last time, which you can check out here, we talked about the first step: Knowing Your Competition. We encouraged you to familiarize yourself with who they are, the resources they use both in advertising and resident retention, and their reputation in the industry. This information can help you to format your own marketing plan by knowing what does and doesn’t work for your competitors as well as (and in our opinion, most importantly) what you can offer your residents that your competitors do not. And this blog is going to discuss exactly those options.
What makes your property unique?
First off, when advertising your properties, play to your strengths. What features do you already offer that make your communities an ideal place to live? Do you have on-site security? Experienced staff who practice responsiveness to any issues tenants may have? Are your grounds kept up and attractive? Is the neighborhood where your property is located desirable (and why)? These are all great features to showcase in your marketing. And you can get creative with them, too. Is the patio a great place to relax on sunny Saturday mornings while enjoying your morning coffee? It’s up to you how creative you want to get with your advertising, but remember that most tenants are looking for a lifestyle and if you describe the one they’re searching for, they’ll most likely pick up the phone.
Once you’ve established these basic community features, it’s time to start considering what you do, or can, offer to residents that is unique. This can take some resourcefulness as apartment community marketing is becoming more and more creative to this tune but it’s worth the time to develop something that jumps out to your target market. Do you offer a discount if residents consistently pay rent on time? Do your properties host community events to show your appreciation, such as bbqs or a monthly movie night? Are they raised beds on the grounds where residents can grow their own vegetables and flowers? (Seriously, this is becoming a desirable feature). Essentially, you are looking for the features that will make people live at your properties, not just sleep there. that is how you attract new business and retain existing profits.
Once you’ve made your list, it’s time to advertise! Advertising takes skill since competition is fierce out there to get your listing noticed (something I’m sure you know very well). You need to stand out for all the right reasons, and we’ll be covering this subject in the next segment of this blog series.
Until then, make your lists and brainstorm the things you can do to establish your properties as attractively unique!
Jessie Williams, Marketing Coordinator