Crush your leasing goals and inspire quick action from more qualified renters. At Apartmentalize, our industry leaders shared exclusive RentFacts. research that honed in on how multifamily marketers can revive their current strategies to boost performance this year and beyond.
Here are highlights from RentFacts. to set your property apart and supercharge leasing.

One: Attract and engage renters quickly by delivering what they want most.

In today’s competitive rental market, understanding and catering to preferences is essential for attracting and retaining residents. 2024 RentFacts. Research uncovered the critical role of technology and data-driven marketing in the evolving demands of modern residents. Engaging renters with immersive digital content makes sure that property managers align with renter expectations, optimize marketing efforts and significantly increase property appeal.

 

98% of renters rely on online resources from initial search to in-person tours.1

 

Your prime opportunities to win over renters are during the attract, engage, and convert stages of the renter journey. Here are research-informed ways to win at each one.

Attract stage: When renters decide they need to find a new place, online channels become their starting point. And the variety of channels they use has increased. Renters look at multiple ILSs when searching for an apartment.

  • 73% of renters use at least three different rental listing sites to find their next place.2
  • 45% of renters said that social media influenced their decision to sign a lease.3

Engage stage: When renters find a few good communities they want to research, information-rich digital experiences play a key role in their decision-making process.

  • 82% of renters said reviews influenced their decision to sign a lease. This ranked higher than recommendations from family and friends.4
  • More than half of 18 to 34-year-olds visit three or more distinct channels throughout their hunt for a new place.4

Convert stage: When a renter is ready to sign a lease, they will often revisit online channels to lock in their final decision.

  • More than 80% of renters said information on an ILS, the property website, and reviews influenced their final decision at every stage in the decision process—including the beginning, middle, and end of their search.4
  • Close to 1 in 4 renters decided against signing a lease because of negative reviews and ratings.4

Two: Leverage AI to make an impact at every stage of the renter decision process.

 

48% of multifamily professionals currently using AI plan to spend more in the future.5

 

AI has become a powerful tool that has practical applications for multifamily marketers and other industries. It can provide targeted solutions to increase efficiencies, eliminate burdensome tasks, and refine your approach to attract and engage renters at every stage of their journey.

Curious how effective AI works? AI tools that solve problems within your property marketing are able to do so by essentially taking in large amounts of data and information to recognize patterns, make decisions, and learn.

 

43% of multifamily professionals said they would find automating more communication very/extremely helpful to their day-to-day jobs.6

 

Here are a few ways our industry leverages AI and automation to support advanced data analytics, content creation, personalization, media buying, and chatbots.

Optimizing listings to drive leads: On RentMarketplace. listings, Rent. uses AI to identify and display the most engaging cover photos on listings, match a renter’s criteria with available inventory, and even answer renter questions with engaging chat conversations.

AI tools for SEO and attracting new renters: AI writing tools can help you generate posts that outperform other brands and turn a brief into a comprehensive set of marketing assets, including SEO blog posts, emails, and social copy. Automated SEO A/B testing tools leverage user behavior data to optimize search page titles and boost organic traffic.

Engaging renters with ads improved by AI: Advertising giants like Google, Meta, and TikTok infuse AI into their technology to optimize ad copy and creative, enable smart bidding, offer virtual assistants for creative development, generate video, and more.

 

Three: Revive your multifamily marketing and elevate the renter experience with new inspiration.

 

Don’t get left behind as renter expectations change. New research shows that renters now find apartments months faster than expected thanks to innovations in leasing technology.

 

45% of renters said they expect their search to take four months to a year, but 86% of renters actually found a place in 3 months or less.7

 

Renter expectations aren’t just shaped by what’s happening in multifamily. The experience renters have when they ship, shop, and even dine influences their expectations for convenience, speed, and engagement. Today’s leading brands leverage both digital and brick-and-mortar platforms to elevate the customer journey.

Here are top marketing insights to create a fun, engaging, and immersive experience for your next renters:

  • Identify how innovations outside of the industry shape renter expectations: Retailers like Amazon have mastered convenience and speed when it comes to delivering a final product. Self-checkout allows people to move through the purchase process quickly. Food chains like Chick-fil-A are testing robot delivery in metro Atlanta.
  • Use examples outside of multifamily to shape a better renter experience: automated tour booking, AI-powered renter communication, and even 3D 360-degree mapping features on listings are all innovations that focus on delivering convenience for renters.
  • Don’t lose sight of community building and connection: Iconic stars like Taylor Swift build brand awareness by allowing their fans to have a strong voice and become brand advocates. Highlighting your property’s biggest fans through reviews and social media can help you build trust, energy, a connection and a community that attracts new residents.

Don’t wait to elevate your property marketing

The award-winning Rent. Marketing Platform provides a comprehensive suite of solutions that efficiently attract, engage, and convert high-quality renter leads. Book your consultation now to see it in action.

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1 Rent. Internal Data.
2 2024 Renter Preference Report. Rent. April 2024.
3 Rent. Internal Data.
4 2024 Renter Preference Report. Rent. April 2024.
5 Rent. Internal Data, 2023.
6 Rent. Internal Data, 2023.
7 2024 Renter Preference Report. Rent. April 2024.

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#multichannel marketing
#Attract/Engage/Convert
#Multifamily Marketing