Stress-free leasing in multifamily means partnering wisely
Ahh, the prospective resident tour. A multifamily property team’s most important moment, and this one experience can make or break your vacancy rates for the month. No pressure. But what if we told you we know the secret to stress-free leasing?
Stress-free? No way, you say. You know too well how many lookie-loos walk through the door. You know, the ones who ghost you like a bad OkCupid first date. While we can’t necessarily ensure that each tour results in a signed lease, our secret weapon can help you find more truly qualified resident leads before they ever step foot on your property.
Because we like you, we will let you in on the secret: A quality multifamily buyer’s journey backed up with intentional branding and stellar marketing!
(Oh, we know you had hoped for more of a Harry Potter light-up wand situation, but hear us out. There’s still magic to be had! Keep reading.)
Take your resident journey seriously
For you, the work begins when you receive a prospective renter’s request for a tour or a phone call asking about availability. For the renter, that journey started long before that moment.
Consider their buyer’s journey:
- Awareness. Often triggered by a life event – a new job, getting married, graduating – this stage involves broad, “what-if” type thinking. Here’s where renters dream about their future home and lifestyle.
- Consideration. When they move out of dreaming mode, their digital research begins; searches become more specific and practical as they begin comparing price, location and amenities.
- Decision. [You enter, stage left, for your leasing tour moment in the spotlight]. Here, the renter actively engages with a specific property: tours, questions and the application process.
- Beyond: No, the journey doesn’t end with a signed lease. Every post-decision experience, from move-in to community engagement, helps the resident decide whether your property is worth it for the long-term.
That’s a simplified and distilled version of the renter’s journey, but it sums up the key moments, two of which happened before you ever learned this renter’s first name.
So, if you haven’t thought about how to start selling in the awareness and consideration phases, you need a plan.
The magic of great branding
Think of branding as that wand that works its magic before you shake hands with your prospective renter. Branding that tells a story and connects with your renter on an emotional level will do much of the work of selling both home and lifestyle.
Remember, brand awareness for a renter begins with their life event: that moment when they realize they need to search for you (and all your competitors). The Branding Journal highlights the opportunity to build a renter’s preference through brand awareness:
“Brand awareness increases the chances of brand preference. When a brand is well-known, it has a competitive edge over lesser-known brands, as consumers are more likely to choose a familiar brand. A certain level of familiarity unconsciously helps build a sense of reassurance and trust, making consumers more likely to choose that brand.”
The more places you can communicate your brand’s story (which, by the way, goes way beyond logos and taglines), the more brand awareness you create for each potential renter in your market.
When someone interacts with your brand online – through your website, social media or apartment search platforms – they should already have a clear idea of what to expect in terms of lifestyle, amenities, location and price. If your property ticks their budget and lifestyle needs, the on-site tour should seal the deal.
Mystical, magical marketing
Sing it with us now: “Mystical, magical…” (that one’s for you Benson Boone fans out there).
Yes, we know, marketing can often feel monotonous and tedious, but here’s where magical thinking might help you and your leasing team: Marketing takes your incredible brand story and places it in front of the exact people who want to live in your community.
Ok, fine, it’s not magic. It’s actually really smart, grounded work based on a lot of know-how. Like magicians, though, skilled marketers perfect their craft over years – only occasionally revealing their secrets.
Outsourcing your marketing to a skilled team can help your multifamily property stay ahead of the competition and keep in touch with your renter audience more regularly. As Forbes notes:
“Want to stay ahead of the curve? First, you have to know where the curve is. If you’re not sure, you can outsource to someone who does (and who can help you get and remain there). After all, it’s in an outsourcing provider’s best interest to help clients avoid getting behind by being on top of what’s happening in a particular area or industry.”
So the real secret weapon comes in the form of your branding and marketing team. Both your internal marketing team and your outsourced marketing team should work magic in terms of meeting the best prospective renters along their renter’s journey.
Ready to find renters earlier in their buyer’s journey? Reach out to us to learn more about our approach to multifamily branding and marketing and how it can help you stay ahead of the curve.
