Multi-Family Marketing Dead-End
With the weaken (and near collapse) of the real estate market at the hands of over development and inflated pricing, the multi-family industry has also taken a huge hit.
If one can rent a 3 bedroom, 2 bath, 1500 sq. ft. house with a pool for $900 a month, why would one rent an 800 sq. ft. shack-of-an apartment for the same price?
It’s becoming increasingly difficult to come up with convincing marketing to justify renting in an apartment community as flippers and real estate investors/developers scrabble to get someone- anyone- to help them pay the mortgage.
Besides having presence in For Rent Magazine, Apartment Guide, and Apartment Finder and all the corresponding dot coms, how else can one showcase the benefits, if any, of apartment community living? I’ve yet to stumble across one solid reason, and as marketing coordinator in the multi-family industry I feel I am obliged to do so.
Recently my company has acquired several new properties in the Dallas area, where the housing marketing is relatively stable, but in the Jacksonville, FL area and in south Florida, where we have our condo conversions, it been frustrating trying to keep the flow of traffic steady none-the-less steady with VIABLE renters/ potential buyers.
<Please insert real estate marketing suggestions below>
Technorati Tags: Multi-family, Apartments, Collapse of Real Estate, Condominiums, For Rent Media Solutions, Beneath the Brand, Kelliann McDonald
Filed under: Marketing Trends, Miscellaneous, Strategy
Hi Kelliann,
You mentioned For Rent Magazine in your article. If you are looking for a cool new way to showcase the benefits of apartment living, you might also consider our website, ForRent.com. We offer this new feature called Community Theater.Its a streaming video package that offers ForRent.com clients: streaming custom video for their community; which can be shown on the For Rent website as well as the management company’s site, professional voice over, production and editing, and a video e-mail brochure to send to prospects for follow up. This package is delivered through the ESPRE playerless player, which requires no video downloading.
Its pretty much a commercial for that property. Whatever you want to highlight about your property is completely under your control. Take a look at some of the listings in our Jacksonville market (The Colony of San Jose and Royal Greens)that use Community Theater. I think it would be a worthy investment;)
Here is the link to The Colony of San Jose: http://www.forrent.com/apartment-community-profile/1000010994.php
Good Luck!!
-meredith
We’ve had very good success with Craig’s List (among other on-line classified sites). We tutored all the leasing consultants on how to post and they simply paste the code we provided them into site and in just a few weeks our custom designed ads posted on the site has generated 10 new leases.
We get a lot of “international requests” with our Craigslist’s post. Basically, scam artisits looking for suckers.
About Community Theater - For our higher-end properties, this would be perfect. We are seriously considering utilizing this service. However, for our value-added properties, this approach may not be the most price conscious.