Is your next renter on TikTok? Actionable strategies for multifamily advertisers
There is no doubt that renters are on TikTok. And with new solutions for multifamily, properties can finally start to reach them. The widely popular social platform’s core demographic, Gen Z and Millennials, are also the most active renter generations right now. With the right roadmap, properties can reach this vibrant community to build brand, drive booked tours, and ultimately convert leads to leases.
We’ll cover what property teams should consider for TikTok ads, do’s and don’ts for crafting content and how to make it work for busy leasing teams.
Since its launch in 2016, TikTok has taken the world by storm and many of our attention spans. It was the #1 downloaded app in 2021, and the #1 visited website that same year. With a hyper-tailored algorithm that has users engaged in anything from knitting videos to dance tutorials, the social media platform has won over a variety of audiences—especially younger demographics. In the last few years, consumer brands have taken advantage of TikTok’s ability to reach audiences in a new, more focused way.
This is still a new frontier for many properties in terms of advertising, but the audience is there. TikTok has 138 million monthly active users in the U.S. alone and 1 billion globally. Of U.S.-based users, 29% are between the ages of 20-29—one of the largest generations of active renters. Sixteen percent are between the ages of 30-39, making up the still actively renting millennial segment.
Ad success stories and consumer buying behavior
One exciting part of this platform is the focused attention users have when browsing the app. Ninety percent of users access TikTok daily, watching up to 26 hours of content per month. The app is designed so users view one short-form video at a time. For properties, this means your placements on TikTok will be front and center—the focal point of what a user sees on the screen.
Data has shown that TikTok video views translate to purchases. Sixty-six percent of users say that TikTok helped them make purchase decisions. Ads on the platform have also improved brand favorability with 72% of users reporting that they find ads on TikTok inspiring more than any other social platform.
Studies reveal that Gen Z and Millennial buyers often use social media in the place of Google for researching new purchases.
As marketing and advertising channels evolve, property teams should stay aware of how renters prefer to shop online. Studies reveal that Gen Z and Millennial buyers often use social media in the place of Google for researching new purchases. In fact, 40% of Gen Z users said they prefer TikTok for product research—with video content being the winning format that gets their attention.
This channel is in many ways about growth, reaching new audiences and building excitement around your property brand. Lease-ups and new construction, student housing, lifestyle communities, and amenity-rich communities are all great candidates for TikTok advertising. Properties that are centrally located and close to city centers are also perfect for showcasing experiential content on TikTok ads.
Instead of making your marketing plan fit into TikTok, find out how TikTok fits into your property’s overall goals.
TikTok could be a good fit for your community if you need to:
Renters on TikTok may have different expectations and ways of engaging with your property than they do on other channels. Much like Facebook is for connecting with families and friends, and LinkedIn is tied to professional relationships—TikTok has its own purpose in a user’s mind.
While it is very much an experiential platform like Instagram and Snapchat, TikTok has become popular because of the day-in-the-life, heartfelt and authentic content that influencers deliver. Here are a few things key things to keep in mind.
✔️ Go all out with your gorgeous photos and videos. Make the most of the investments you’ve made in high-quality content for other channels like your listings and property site. TikTok is a great place to reuse your content.
✔️ Include professionally staged and well-lit content. Create an atmosphere that renters can see themselves living in.
✔️ Mix it up with dynamic and stylized videos of interior and exterior spaces. A little creativity or added interest will go a long way in getting that focused attention.
✔️ Use consistent styling and themes across all assets. Genuine, authentic experiences are a must on TikTok and users may be thrown off by inconsistencies.
✔️ Include lifestyle photos and videos to show what it’s like to live there. From pet-friendly amenities to events, or wellness features—users will want to see a day-in-the-life at your property.
❌ Include unkempt images of community spaces or the unit. Focus on the photos and videos that will attract good attention instantly.
❌ Choose dark or poorly lit photos of your interior or exterior spaces. Social audiences will hone in on great experiences and simply flip through content that detracts from that.
❌ Include inconsistent content that may send mixed messages of what it’s like at the community.
❌ Distract from the overall brand and experience you want to portray with up-close photos of individual features like cabinets, toilets, appliances or cramped spaces. These details, while important, will be more effective during the apartment tour or further along in a renter’s search.
As with any paid advertising campaign, you want to ensure your budget is going toward the right audience. Rent. now offers advertising on TikTok so that you can avoid overspending and reach actively searching renters while maintaining FHA compliance.
Navigating the various creative specs and ad executions can be time-consuming and tedious. The Rent. team can take the burden of campaign set-up and create engaging campaigns in lightning speed thanks to our marketplace integrations.
Be first in line to build your property brand and engage in-market renters on TikTok with turn-key ad solutions built for multifamily.
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