Apartment Blog

Whether you are just getting started with your social media strategy or you’re paving the way for others in the industry, it is imperative to have a policy in place.  In this digital era, your employees need to be well versed in appropriate online behavior when they are representing, not only themselves, but  also the brand.  Policy can be a scary word for employees, which is why your social media policy should really be more of a set of guidelines.  Here are a couple tips to get you started on your set of guidelines:

1.    Team Effort – Creating a social media policy at your company should be a team effort.  Gather a cross-functional group from departments like PR, legal, strategy, sales, marketing and senior leadership.  All of these people will play an important role in crafting your guidelines.

2.    Common Sense – Make sure to include guidelines that you may think are common sense in your policy.  You cannot assume everyone thinks the same way and it is better to be safe than sorry.  Some examples of this would be:

What can you do to show you appreciate someone, your residents, your family, your friends, or the person on the street you just passed?  As we learn and use the wonderful features of technology and social media, we tend to not interrelate like we once did.  We have all emailed the person in the next cubicle or office, and texted someone when we could have called them. What three things can you do on a daily basis that makes a difference in how people connect and react to you?

Everyone has three things they can do to let others know they matter.  I recently sent an email about this to my fellow teams. Incidentally, I received more replies than normal and I would like to share some of the unedited feedback.

1. Smile and compliment them.
2. Make them feel welcome; tell them they have been approved for their new home.
3. Ask them “How can we help”?
4. Tell them you appreciate them, maybe bring them a coffee and tell them one nice thing! Or just give them a big hug.
5.  Listen, people want to be heard and know that what they have to say matters, and it shows you value them, as well as what they have to say.
6.  Speak directly to them, look in their eyes, and be attentive.
7.  Use their name when you talk to them, it makes them feel important and gets their  attention.
8.  A simple acknowledgement, “Great Job”.
9.  To a stranger driving and trying to get in your lane, “Just wave and let them in”.
10.  Stand up and greet them when someone walks into your office. Tell them how special they are every time you see them. 

This is timeless and relevant in this exciting and incredibly busy life we share.  Our lives are increasingly demanding, and the technology creates more texting, emailing, posting, tweeting, and less opportunities for those random meetings.

Small shifts in data tend to quickly make headlines and dominate conversations. Most recently, it’s the uptick in single-family home sales creating some news about apartment renters leaving to buy homes. But it’s not a big spike – and even if it was, that wouldn’t necessarily be a bad thing for the U.S. apartment industry. Greg Willett and Jay Parsons from MPF Research explain why in this video edition of Apartment Market Dynamics.

 By R. Aaron Warnock, Chief Scientist, G5

Some think 2012 is the year of destruction, but maybe the Mayans only meant that the old way of doing business would be over. In this new era, the Age of the Customer, businesses must master customer engagement in an ever more digital world.

Local businesses continue to grapple with the challenges of the continuously connected consumer. The shift to online channels has accelerated, driven by the adoption of mobile computing and the rise of social media. To remain competitive, businesses must move well beyond online advertising and recognize how to deliver exceptional experience with digital touchpoints throughout the lifecycle. Successful companies will be those that place Digital Experience Management (DXM) at the center of their strategic plans.

Last week Blackberry/RIM and Best Buy were two businesses that went on a list of dying companies.  It's often hard to predict what the future holds, and we have a tendency to get tunnel vision when it comes to our own businesses.  It's unfortunate these companies have found themselves to be in dire straights, but for me I look at situations like this as an opportunity to reflect on my own business and industry. What may look like a solid model today, may not be tomorrow.  With that, I'd like to share my list of five multifamily marketing/tech models that may be in trouble.

1. The ILS - I've actually been known to say that the ILS is an absurd marketing idea.  While I may have been trying to generate some controversy with that statement nearly 3 years ago, it's interesting to think today I actually believe the ILS model is in trouble a bit.  At least the way the big players look today.  If you look at Apartments.com, ApartmentGuide.com, ForRent.com, Rent.com, Move.com, etc., you'll find their models really haven't changed much since they started.  However, the way people search online is changing.  We may see a few fall off over the next 5 years if they don't evolve in an aggressive way.

2. Pay Per Lease Marketing Model - As tracking becomes more sophisticated we're finding (and concluding) renters are using more than one source to find an apartment.  Is it fair to give all the credit to a single source and pay them a premium for it?  I say NO FRIGGIN WAY!  Marketers are getting smarter and this model is a gimmick that has taken advantage of people for too long.  I think this fad will most definitely pass in the near future as pay per lead or flat subscription pricing will win.

Yet, few may realize that the Fair Housing Act (FHA) fought an uphill battle before being passed and that the early days of the Department of Housing and Urban Development (HUD) were not without controversy. Both overcame numerous hurdles in the civil rights era of the 1960s to form the groundwork for today’s critically important multifamily housing policies that prohibit discrimination.

In the spirit of March Madness and, of course, all things data, I thought it would be nifty to craft a visualization of actual Apartments.com data in tournament bracket style.  With the help of our very talented Senior Graphic Designer, Laurie Genzlinger, we put together a data driven visualization that illustrates the top 16 user searched amenities on Apartments.com. 

To make this happen, we seeded each amenity, one through four, based on total searches and broke them into four conferences.  We then took this search data and let it solely dictate the outcome of the matchup, advancing the amenity with the higher relative search volume.  In short, our final four top searched amenities consisted of: Washer/Dryer in Unit, Parking, Dishwasher and Air Conditioning.  After a grueling round of matchups, Washer/Dryer in Unit and Air Conditioning moved to the finals, with Washer/Dryer taking the title.

I like this visualization because it illustrates the importance of each of these amenities, relative to another, in the eyes of the renter.  For example, hardwood floors may be important to renters, but next to high speed internet it falls short.  Taking that a step further, the same included high speed internet is a really nice feature, but relative to parking, parking takes the cake.

Wow, one would think that a promotion from Property Supervisor to Regional Manager on a partnership track would be the epitome of property management ladder climbing. Honestly, for the fifteen years that I have been in this profession, I have only dreamed of such a moment. All I can say is…be careful what you ambition for.

I was an excellent leasing consultant because I was great with residents and prospects. I had (and still have) a talent for smooth resident relations, and I could literally anticipate the needs of the potential residents that came to my community. I can relate to people and I have been told that I have a genuine style that is seen as sincere and honest. Leasing came easy to me because that is who I am. I did not have to alter who I was in order to do my job. 

Stay with me…

A day in the life of a property manager is never boring. Between answering phone calls, showing units, following up on emails, managing service requests, and dealing with move-outs and renewals, there is never a dull moment. Smart property managers are always on the lookout for new ways to improve efficiency and free up time for important tasks.

Converting paper checks to electronic ACH payments is a great way to boost productivity by eliminating daily trips to the bank. Over the last decade, more and more property management companies have recognized this opportunity and deployed electronic payment solutions at their sites. By scanning paper checks to process as electronic ACH debits, on-site staff finds more time to serve residents, fill vacant units, and increase revenue.

Last month in the article “The Top Secret Apartment Marketing Weapon: Your Maintenance Team,” I shared my positive experience with a hotel housekeeper and how it made me wonder about the effect a maintenance staff can have on marketing an apartment property.

Curious to learn what others thought, I posted some questions in a couple of multifamily LinkedIn groups and Multifamily Insiders: