How to Get the Renter Love you Deserve [eBook]
The old adage that first impressions matter is never truer when it comes to renter engagement in multifamily housing. It used to be that a spiffy, tour-ready property and apartment and a knowledgeable and gracious leasing agent was the recipe for selling leases. Today, it’s a different ball game.
In this information-crazed world, renters already know about a property before they consider a visit. Internet searches, recommendations from friends or family and online reviews provide renters with plenty of knowledge and shape their preferences.
When they do reach out, property managers have to put on a different kind of smiling face, one that acknowledges the prospect is already well informed and offers support to make the application process seamless.
The goal is to build a stable base of residents who love their apartments have a great resident experience from end to end.
Understanding the renter lifestyle helps capture, convert, retain
Personal engagement, whether online or elsewhere, makes a lasting impression. Forty-four percent of online consumers say having questions answered by a live person is one of the most important features a website can offer.
Understanding the renter lifecycle is key, so you can reach, capture, convert, and retain the most qualified renters for the most profitable outcomes.
Being seen in all the right places and knowing what those places are is critical to operational performance. As prospects look online, website content has to be engaging and give a realistic view of the property.
Reviews also matter. Data acquired by the National Multifamily Housing Council suggests that nearly 75 percent of residents say content on apartment opinion sites stopped them from visiting a community.
Laying the foundation for a long-term, lucrative relationship
Getting the right renters is the first step in laying the foundation for a long-term, lucrative relationship. Several factors are involved.
Property managers can’t ignore the power of the personal touch when attracting and retaining renters. The more you can make someone feel welcome the more apt they are to become a resident and fan. The trick is being available on your next resident’s schedule, around the clock.
Giving your residents access to the technology they need is a given, and online payments and portals are making a difference. But some fall short of expectations because they don’t share robust functionality for ease of use. And for many renters, paying rent at the leasing office is inconvenient.
But landlords also have to be mindful that not every applicant who arrives at the door or in a portal is a worthy renter. Most strongly or somewhat agree that no matter how much they like an applicant, if their credit check is bad they won’t rent to them. The risk of defaulting on the rent and damaging the apartment is too great.
Making a good first impression through technology
Making a good first-impression on a prospect is important and can determine a community visit or dropping off the radar. Cultivating renter engagement is as much about knowing who prospects are and what they expect but also having the right technology to show the love.