Marketing

According to National Multifamily Housing Council 35% of US households live in some form of rental housing. The economic impact and business opportunity that come along with these 43 million+ households is massive. Whether they are apartments, small plexes, single family homes, or mobile homes, each one will require some form of marketing, legal services, painting, carpet, roofing, appliances, plumbing etc.

We are living in a world that is more technologically driven every day. Larger companies with the money to invest in new technology are moving further and further ahead of the mom & pop. At a time when our society is spending hours a day logged in and where most internet users are accessing via phones and tablets it is important for small businesses to at least cover the basics in order to compete.

This is as true in the rental housing and property management industry as it is in any type of business. The following is a list of things that the independent landlords and small property management companies really NEED to be doing to keep up.

BUILD A NEW WEBSITE.

Ask the Secret Shopper - Advertising Sources

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ll apartment communities use various means to attract new renters. Many forms of advertising have minimal costs in dollars, (i.e. online ads, signs, banners, word of mouth referrals, etc.). Yet the time and money it takes to create and design some of these ads AND make sure they are well placed to capture attention, is worth tracking the results! Having a reliable method of documenting all online, phone, and walk in traffic is critical to determining the effectiveness of each form of advertising. Here is a valid owner concern: 

Q

Ask The Secret Shopper

‘Tis the season to be jolly

However, for many it’s the season of added stress with the holidays barreling down, year end, wondering how you will ever meet next year’s income and expense goals,  etc. All of these factors and MORE combine into the perfect storm for those who already struggle with keeping their emotions in check. 

While it may seem like the property management industry is about “managing properties,” it’s really about managing and caring for people.

ASK THE SECRET SHOPPER

Available for a limited time! Only one of its kind! Offer expires at midnight! These and similar phrases are used to make people “spring boldly into action.”  They conjure up images of people rushing into department stores and retail outlets to take advantage of incredible offers on quality merchandise, especially during the holiday season. The advertisers and merchandisers are trying to create a sense of urgency in the minds of their customers; which will motivate them to take immediate action. They are in the “sales” business and want the customer to immediately purchase a product and part with some of their money!  

Rebuilding Together

Washington Multi-Family Housing Association partners with Rebuilding Together Seattle for a volunteer Impact Day. 

September 29, 2015 

Renton, WA – The Washington Multi-Family Housing Association (WMFHA) organized their first annual volunteer Impact Day, partnering with Rebuilding Together Seattle.  Rebuilding Together Seattle brings volunteers and communities together to help low income homeowners live in warmth, safety and independence.

Ask the Secret Shopper

There is an old saying when it comes to selling/renting real estate that the three most important factors are: location, location, location. Yet, what if you are working at an apartment community that does not have these three things going for it?  Maybe your community is “off the beaten path” and no one can find you, or your building is located in a neighborhood that is not considered desirable because it needs a facelift. Perhaps you are near certain types of businesses that may discourage people who are driving by from driving in.  The issue of “location,” is obviously a concern based on the following question:   

Time Management Skills Essential to Balance

Ask any property manager “what is your most valuable yet most elusive resource?” and I would wager many would respond: TIME!  So many of us in the industry thrive on the variety and challenges inherent to this profession, however we often find ourselves trying to compress daily tasks – both planned and unplanned- into a finite block of time called our “work day”.  With multiple mobile devices we can literally connect and work around the clock and around the globe.  We even have wrist watches now that can act as “mobile desks” and help us track emails, texting, fitness, personal schedules, meetings, calendars, and so much more! Does anyone remember when watches just provided the time and date?

Industry marketing expert Mark Juleen shares some tidbits and results from some recent internet marketing campaigns.

ASK THE SECRET SHOPPER

Fair Housing compliance is something all property management companies and their clients are concerned about, even as on site leasing staffs are wonder how they can make their prospective renters feel at home, and still comply with the law. Sometimes it does not seem possible for a leasing consultant to make every prospective resident feel like he or she will fit in, without bringing up issues of race, family status, possible disabilities, etc. After all, in order to fully meet the needs of your renters, you must determine what those needs are. It may very well be that what is most important to them is closely connected to their race, family status, disability, etc.

Here’s a question that keeps coming up on this subject:

Q: How can I give helpful information on schools if I can’t even ask my prospective renters if they have children?