Three Marketing Tips for Planning and Executing a Successful Apartment Lease-Up Campaign
The demand for apartment rentals has been at an all-time high, inspiring an array of new and exciting developments to break ground. Bringing new units into the market is always a challenge, as many years can go into zoning, financing, and executing the design. As your property management team carefully navigates each task, an unknown factor still exists when a new community emerges on the market: will it be able to lease-up quickly?
To get a jumpstart on the leasing process, many management teams now embrace what is known as the lease-up cycle, which refers to the marketing strategy for newly developed apartments, beginning from the initial announcement of the property and ending roughly six to twelve months after the community opens. When done correctly, a lease-up strategy will land your property among the ranks of more established communities within your area — all at lightning speed.
If you want to open your apartment community with residents ready to move in, here are a few suggestions that will help in attaining lease-up success.
Establish a website or landing page as soon as possible.
Your community may be a mere hole in the ground right now, but before you know it, you’ll be doing final walkthroughs, installing signage at the front gate, and getting the leasing center ready to welcome the new residents, who you have been working so hard to attract to your new development.
With the internet being such a crowed place, it is crucial to establish an online presence at least six months in advance of starting your lease-up. Even if there isn’t enough information at your disposal to construct a full-fledged website , at the very least, purchase a domain and create a basic landing page. Once word gets out that a new development is underway, locals will want to learn more information surrounding your new community, such as the opening date, amenities offered, and price ranges. A website will help you to display all of this information and more.
Even if you decide to publish a bare-bones static website, it’s much more appealing to users than having no web presence whatsoever. It may also be important to note that if you typically use apartment listing services, this may not be the best time to do so, as your lease-up promotion can easily get lost among the listings of your competitors.
Build a solid social media presence.
Social media is one of the most utilized avenues for current news and modern communication. With over 200 million Americans expected to use social media channels by 2021, it’s a smart move to establish social media accounts for your new property as soon as you can.
There are plenty of ways to leverage a social media presence and gain followers before you even open your doors. Not to mention, you will soon realize that these social platforms are a great place to publicize upcoming features, post updates on construction progress, and promote grand opening specials.
Planning your social media postings is one of the most vital aspects of your strategy. You want to have content ready for critical dates, while building a dedicated audience who views your property as a local authority when it comes to neighborhood happenings. Using a platform that will push digital contentinto your social media channels from your website is crucial. The reasoning is two-fold: it will not only drive traffic to your website, but also boost your search positioning.
Set up a listing on Google My Business.
Google My Business (GMB) is arguably one of the best tools on the internet for any apartment community. With Google on your side, interested locals will be able to scout out reliable information concerning your brand-new development with relative ease.
It’s estimated that one-third of renters seek out apartment listings through a search engine. Since Google averages 5.5 billion searches per day, there’s good reason to believe that many of these searches begin and end with Google. By establishing your GMB listing, you can populate Google’s Knowledge graph with current, relevant information—all while offering options for prospective renters to contact you on the spot.
Establishing your GMB listing now will go a long way in building long-term trust with Google, which is incredibly vital to any SEO strategy . Ultimately, Google wants to provide users with the best search result; therefore, by verifying your property through an address or phone number, you will position yourself as a legitimate business in their eyes.
Opening a new apartment community is always easier said than done. Your plan of action must be executed in a manner that is competitive with the reputable communities already in your area. By employing an effective lease-up strategy, you will kick-start your property’s marketing and leasing game-plan from day one, driving online engagement that fuels your lead funnel and ensures the overall success of your brand-new community.