While there are many best practices to follow in marketing apartments throughout their lifecycle, the apartment lease up strategy is one of the key importance. Ultimately, the lease up property ideas that you implement during this initial phase of a property’s lifecycle set the tone for prospective residents and establishes the brand of the property. In other words, the lease up plan you choose is critical.
At Realync, we have properties and clients at all stages of the property lifecycle, but often see the most activity and prospective engagement in our analytics platform in this lease up phase. We’ve found that the lease up period reflects a marketing funnel that you may be familiar with where prospective residents flow through these stages: awareness, consideration, conversion, loyalty, and advocacy. The great thing about our platform is that there are proven use cases that help at each stage of the marketing funnel.
When it comes to the awareness stage and coming up with ideas to increase occupancy in apartments, it is often a focus to spread a wide net and draw broad interest amongst prospective residents. This broad interest can be driven through hosting open houses, attending community events and having a strong digital and social presence. In all of these scenarios, there is the possibility to leverage the authentic video created with Realync to help bring the property to life (especially when you might not be at the property for an offsite event). We are big proponents of ensuring you are collecting emails and phone numbers from prospective residents and then sending a follow-up video tour to them, highlighting any key areas, amenities, or specific units.
Apartment lease up experts will often advocate for exclusive deals and promotions to encourage speeding up the shift from awareness to consideration and ultimately conversion. These concessions and deals can look like short term rent reduction, welcome gifts, first selection on specific units, decreased security deposits or even the promise of early community events. This promotional strategy, when done in conjunction with ongoing tailored video communications, can be the one-two punch that helps move the needle to lease up apartments.