- Jessica Dinin, Max Morales, and Lori Trainer shared valuable insights on how multifamily marketers effectively connect with renters across all of the different properties they manage.
- Tactics like geofencing have become an integral part of property advertising because communities can target key areas that are bringing in new residents.
- To help affordable housing communities thrive, property teams can educate renters on available resources, engage with the broader neighborhood and focus on customer service.
Multifamily teams have a lot to contend with when building out marketing plans for each property in their portfolio. Increased costs due to inflation, record-high spikes in demand, onsite staffing challenges, and renters migrating to new areas all impact marketing strategies. On top of that, the rental market is expected to soften in the near future. While properties in some regions are raising rent rates, we’re seeing others start to offer concessions.
These many changes often boil down to one key question: How can multifamily marketers effectively connect with renters across all of the different properties they manage?
In a new webinar, we brought together demonstrated experts in multifamily marketing and property management to share their experiences. Jessica Dinin, VP of Marketing & Training at the Bainbridge Companies, Max Morales, Director of Marketing at the Cornerstone Group, and Lori Trainer, 30-year property management industry veteran and National Account Manager at Rent., shared valuable insights. With experience managing and leading marketing for a variety of properties, they had actionable advice to help with current challenges.
In this conversational-style webinar, experts shared how they:
- Map out effective marketing plans in the changing rental market
- Level up digital experiences for renters
- Foster growth at workforce housing communities
- Boost property brand and online reputation
Below are a few highlights from their talk. You can also register to watch the full webinar here.
Stay ahead of the changing rental market
Our speakers shared how recent changes have impacted marketing within their organizations. For properties in increasingly popular areas like South Florida, demand is high, but so is competition. As renters migrate across the country, they are looking at a variety of options for their next home. Due to this, Max shared that some properties’ target markets are much more widespread—including both local renters and those relocating to the area.
This has made tactics like geofencing an integral part of property advertising because communities can identify and target key areas that are bringing in new residents. Digital experience and strong brand presence online have become a crucial component of staying ahead of the competition.
Make the renter experience easy and exceptional
Digital presence is in focus like never before. Max shared that this true both for tactics used like social media, online reputation, and advertising as well as the renter’s experience online. Just like online shopping experiences, renters want simplicity during their apartment search. Properties can focus on what will help renters make decisions “on the spot.” This means providing all of the resources, visuals and information needed to help renters conveniently scope out the property.
Jessica recommends doing a SWOT analysis (strengths, weaknesses, opportunities, threats), focusing on local happenings and identifying key demographics as starting points elevating the renter experience. Max also stressed the importance of partnering with local businesses and seeking out local events to create more tailored marketing campaigns for specific properties. Tactics like social media, he mentioned, have worked well for showing the local lifestyle renters can expect when living in the community and promoting community events.
Build community and foster growth for workforce housing
With experience leading the marketing for workforce housing, Max, Jessica and Lori talked about recommendations for helping those properties thrive. They stressed that educating renters on offerings, providing resources and excellent customer service were key. Instead of isolating from the surrounding neighborhood, there is value in becoming an integral part of the community. Properties have done this successfully by partnering with nearby businesses, hosting education sessions like resume workshops, understanding assistance programs and even working with local authorities to offer resources.
Reputation management and resident retention are also critical for workforce housing communities. Many communities have onsite teams with demanding workloads and are often in high demand with large waitlists. Maintaining customer experience not only sparks interest in those who are on the waitlist, but encourages current residents to want to stay in the community.
Similarly, a property’s responses to reviews and ratings can drive interest and build trust with prospects over time. Negative reviews are a chance for property teams to provide excellent customer service and prove that they offer solutions.
Build a brand that renters can’t miss
There is power in the property brand. Both Max and Jessica shared that consistency and strong brand presence go a long way for every property in a given portfolio. Something as simple as having a set of high-quality photos and visuals to share across all of your community’s sites, listings, and other digital channels can drive performance. All of a property’s marketing efforts, from customer service to social media, tie back to the brand and will help you resonate with renters.