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68 Make sure your team aligns on the best ways to approach conversations on any rate increases that occur whether that's in initial communications, during property tours, or even in review responses. for properties that see spikes in move-ins during peak leasing season and have high demand among a specific group like student housing communities. If your property has a referral program or other promotions, on-site staff can also share specials via word- of-mouth during onsite tours or follow-up communications. What better way to get the word out than renters who have already viewed the property and have high interest? SHARE HOW YOUR ON-SITE AMENITIES CAN HELP RENTERS SAVE Look at your amenities from a different angle—how much they help renters save on extra expenses. People will often pay more for convenience, but the great thing about on-site amenities is the instant access residents have to fitness centers, common areas, pools, or other amenities your community offers. For instance, having an at-home gym can save renters time and money that would otherwise be spent offsite. Similarly, hosting a pool party or a gathering in the comfort of their community allows residents to remain social while avoiding the cost of going out. Here are a few fun ideas for showcasing savings. You can even share creative and free ideas on your property's social media that relate to on-site amenities: » Gym workout groups or classes » Pet grooming » Pool parties and barbecues » Afternoon walk clubs » Book clubs that can be hosted in common areas DON'T FORGET ABOUT WORK-FROM- HOME CULTURE Another major factor in savings is the trend of many renters working remotely. Working from home saves time in commuting and getting ready, money on travel, and, let's face it, often peace of mind when it comes to avoiding the morning traffic. If your community offers units with space for an at-home office, business rooms, printing stations, or smart-home features that make work-from-home a breeze, share the value of those benefits. EDUCATE STAFF ON RESPONDING TO PRICING QUESTIONS Rates and budget can be sensitive topics, so it is important to educate staff on your team's policies. Make sure your team aligns on the best ways to approach conversations on any rate increases that occur whether that's in initial communications, during property tours, or even in review responses. is is also critical for reputation management because rates can be a topic that renters bring up in their reviews of your property. Your property's responses to reviews that mention rates are opportunities to address questions around fair pricing and show prospects that you take these matters seriously. RAISE THE PERCEIVED VALUE OF YOUR PROPERTY WITH BRANDING Every expense comes with the question of "Is this worth the cost?" If rates are higher or there are added fees, renters will want to know why. Your property's brand is often the answer to that question. In a multifamily master class, branding maven and RentPath CMO, Kathy Neumann talked about the importance of brand value for properties. She shared that weaving brand value into every detail is critical—especially when it comes to affordability-focused renters. For example, if you're known as a luxury community with best-in-class service, those elements stand out to renters, from the way staff answers the phone, to the website design and the apartment features. Elevate the currency of your property's brand by looking at it through the lens of what you offer renters. Opportunities to strengthen a renter's perceived value of your community are in every detail, including on-site operations, your home listings, the community itself, and marketing. Rachel Richardson is a Demand Generation Specialist with Rent., a leading digital marketing solutions company that empowers millions nationwide to find apartments and houses for rent. Feature By: Rachel Richardson