Topic: HELP! Marketing Ideas for Challenging Property!

I have recently taken on a challenging roll as Property Manager for a severely depreciated and mismanaged asset in Texas.

Background information on Property:
1. Small, 137 Unit Property
2. Located 2 miles north of Downtown Dallas
3. Mostly Hispanic in population
4. Little marketing/brand recognition in the past
5. New ownership has a strong need to change the resident profile/demographic
6. Property going through a rehab/upgrade on one Phase of the Property consisting of 44 units
7. Not enough revenue stream coming in to spend on marketing campaigns. Most of the marketing efforts are coming from Guerrilla Marketing.

If you have any ideas that have helped your property, I would appreciate the advise! We are using Craigslist, Trulia, Facebook, Flyers, Faxing Businesses and just about every other free or low cost idea you can think of! HELP!

Thank you,

Chris Hyzy
Property Manager

Hey Chris,

I work with a few communities which would fit your description. Here are 3 of the ideas we came up with:

Spanish Craigslist - there is a great site, www.mundoanuncio.com which is the equivalent of Craigslist for Latin countries. Be sure to click on Estados Unidos in the left-hand column to access the US database. You can then choose Texas and take it from there.

Custom Post-Its - these are working really well for us because we can do our parking lot sweeps fast and more discreet than using the big flyers. The best price I have found for these have been with iPrint.

Round Robin Open House - one of our communities used this as an "under new management" promotion. Choose 3-5 available apartment homes and decorate each with a different theme. The decor could be minimal, like mini-modeling the kitchen and/or bath. When guests arrive, complete a guest card, take their ID and give them a community map highlighting the apartments to tour. At each apartment there should be an associate on hand to answer questions, attempting to close, etc. We also had our employees dress up in keeping with their apartment's theme. Make another attempt to close when the guest returns to the office to pick up their ID.

We usually spend 2 weeks pumping up the event and get our sister communities involved as well.

I hope this helps...best of luck in your marketing efforts!

Thank you for the tips! Definitely will try them out!

Hi Chris!

I am so excited for you! It's the best feeling to help turn around an asset like you have and you get to do it!

Have you tried chalk art? Go to the bus stops or along sidewalks and stencil a now leasing note. We have done this at several communities and got leases from our comps residents waiting for their bus or area prospects picking up a paper and seeing the chalk art ad.

Absolutely a strong advocate of mini modeling too like the other reply said.

Happy Leasing! :)

Living Social: Offer 2 weeks free for a limited time only EX: Living Social will blast everyone in the Dallas area a limited time offer to come to the property immediately and if they apply in 72 hours get 2 weeks free.

I had a repositioning/construction in Arlington VA 2 years ago and bought stand up cut out "bob the builders" a guy in a construction hat on every floor. Adding humor to all the construction helps your prospects feel more comfortable. You can buy the cutouts from a Kinko’s for about $80 each...


Do you have a mock up model of how the property will look/ a finished unit to show?

Are your sales staffs ready to paint a picture of what is soon to come to your prospects?

Find a Dallas business journal to scope out any new business to the area and have your best leasing staff go to the HR department and drop off flyers offering a concession to their employees. Always bring a goodie bag to suck up to the receptionist..

Offer free magazines to high end dentist, nail salons, hair salons, doctor offices with a label that reads: This (magazine name) brought to you by your property's name address and specials. Place the label on the front of the magazine and on every first page articles that was mentioned on the cover...


Good Luck and Happy Leasing,

Pump up all of your free listings this will boost your seo for free! Things like google places, bing local, yahoo local, Yellowpages.com superpages.com facebook, foursquare, craigslist.org. Resident referals go a long way for very little spend too

Chris -

Is it this property you are referring to?

13214 St. Lawrence Circle

Hi Kris,

I do not work for an affordable housing community, but very involved in marketing with our construction company. I have surrounded myself with Affordable housing developers in CA., they are my main focus.

1. try Vistaprint.com. Throughout the month you will be able to get material for free. Flyers( leave at other marketrate rental complexes). I believe many do not know they may qualify for affordable housing.
2. Find local hispanic magazine or bakery that caters to the girls 15th birthday. You will be able to get the audience of the mother.
3. Use flyers and hand them out at your sister communities. Word of mouth is your best
marketing in an apartment complex.
4. As for changing resident profile, most background checks will help with this.
5. Call your local Title Company(First American Title should be in Texas. If not a local
real estate office can give you a name. The title company can run a title search of all rentals in your area and give you an entire list and sometimes the labels for mailing.
You may be able to say give me apartment and house rentals that rent from 600- 900.00.

Your best audience is other rental complexs. Put flyers on their doors, cars and or at the main mail boxes.

Good Luck. :)

Hey Chris,
I am in the area looking at other communities to purchase.
If I have time would be happy to meet you at property to brainstorm.
Best,
Robert

Hi Chris
Word of Mouth is huge for a property like this. Try getting your residents to give the property some positive feedback and then utilize those reviews in your marketing material.

I would suggest going back to the basics of apartment management, the basics of apartment marketing:

1. Convince the entire staff that everything they do is marketing. The person mowing the lawn is an essential part of marketing (e.g., curb appeal, customer satisfaction). The person repairing the faucet is part of marketing (i.e., customer satisfaction). Maintenance staff are really part of the leasing staff.

2. Be passionate when it comes to customer service. New leasing is just one side of the marketing coin. Customer retention is the other side of the marketing coin. Since the NAA estimates the national annual turnover rate to be about 60%, increasing retention means reducing the amount of new leasing that becomes necessary. To increase customer retention, make customer service your #1 amenity. Provide same day service. Develop systems to reduce call-backs. Be solid in your communications with the customer when it comes to providing service. End each conversation with a customer with this question: "Is there anything we can take care of for you in your apartment?".

3. Avoid desperation leasing. We do no one a favor by approving marginal applications. I would rather have an apartment stay empty than to rent it to someone who cannot afford it. Unfortunately, some management organizations are so driven by management by objectives/numbers that site personnel feel pressure to lease to underqualified applicants. Your numbers can look better, temporarily, but are not sustainable in the long-run. Do your best to explain this to your owners.

4. One of the best traits to look for when selecting maintenance and leasing staff is to find people who REALLY like people. Pay them well, value employee retention. Better quality and customer satisfaction comes from successful, long-term relationships with employees and contract labor.

5. We generate 25% of our new leasing from referrals by current or past customers. Word-of-mouth leasing is the best, because the conversion rate tends to be higher - and its free. Gauge what portion of your new leasing is generated by word-of-mouth. We don't use any gimmicks to get word-of-mouth referrals (e.g., paying referral fees). When consumers have a good experience with a company, they tell everyone they know.

These are just a few ideas. Remember what Dr. Deming said: There is no instant pudding. Instead, build the foundation for a successful business.

Rick Hevier
Richard Hevier
Richard S. Hevier
This email address is being protected from spambots. You need JavaScript enabled to view it.

WOW! Hard to add to all these great ideas...But I've never been at a loss for words :P
Chris,
Here are my 2 big suggestions to you:
CLOSE, CLOSE, CLOSE...and CLOSE again a different way!
Adding to the basics, it sounds like you may not be getting as much traffic as you like so you have to do more to CLOSE on what you get! I would coach and practice with the leasing team so they close at least 3 times in different manners with every prospect! This is more than just the "ABC" Always Be Closing language...these are actual ASK THEM TO LEASE closes. And if the prospect leaves without leasing, the Leasing Pro should at least try to go ahead and schedule a return visit appointment so the prospect leaves knowing they are coming back!
Follow up, follow up, follow up, and did I say, FOLLOW UP!
In our Leasing Team we actually say that we "stalk them till they die!" OK, that may be a little bit of an exageration...but we are still following up so long that if they DO lease somewhere else, we get them on the "back end" of their lease! They know we care because we're still talking! :woohoo:
Happy Leasing, Chris!

Chris,

Here are some which work in my local area:

Try tenant referrals for discounts on later rent.
"13th month free" incentive with signed contract.
Use paper flyers with hangtags around the area.
Try the usual online free sites if you haven't already.
Word of mouth advertising may be a good bet for this property. Yard advertising using your own creativity may help.
If there is a residential manager who shops at local businesses or attends local churches, have him or her drop cards, brochures or flyers around the area.
Send information about the property to local social service agencies for referrals.
See if the local city government has a relocation department for tenants who are moved out of hazardous rental housing. If so, ask to be the contact for their relocation referrals.

Best of luck with this property. Sometimes these are the properties you care the most about and remember the longest.

The fastest way I find is to be the center - make a list of businesses within walking convenience to your property. Co-op market with them. Pizza box flyers, print your your own tray liner ads for local deli or diners, coffee cup hand grips, logo print labels for water bottels in your office to prospects, co-op w/ drycleaners, florists, Yes on Vista print cheap print options, visit your local chamber of commerce, let the chamber and other local community organizations use your clubhouse for a host site for local business seminars and meet & greets, offer cluhouse space for churchs, local community classes( host classes free to public, self defenses,job placement, resume writing,coupon classes,wedding planning) or be the community outreach project drop off location for your own charity, Host a shelter pet adoption day, Host a day of health blood drive and mobile health van visit call red cross,donate staff to work a community event or charity wear your logo shirts-help paint or fix up a local park or recreation area, pet shelter, habitat for Humanity project, Be a Volunteer!!! Pick a wall in your office, put up flyer box holders and showcase select area businesses invite them to restock their wall slot monthly and their employees recive 3% PEP, use their coupons & flyers in movein baskets & co-op market with them- get a spot in their company newsletter, or a flyer with employee paychecks, or sales flyer in shopping bag,church newsletters ad offering your specials, brochure holder in any lobby, the dollar store is a great place to buy stuff, Focus contacts to viral people( servers, cashiers, fast food workers,offer to place "friends Of Abc Community" banners or links from your property website to their business,friend every area business on your facebook and post movein specials on their pages and invite them to post resident discounts on your FB page and ask propects after a tour to LIKE you on facebook and recieve extra application incentive. Be the center !!!! :lol:

Decide who your target client is going to be- Where do they work, shop and play? That is where your marketing tactics will be best spent-
Also video your first flip unit and start posting each unit on youtube- We have done this and it reaches a much larger demographic- include the link on all email responses etc to get the show out! ;)
Think recession proof on your new demographic and then go get them! Emergency employment sectors, Medical employment sectors, state and city employment sectors and larger local business
Before you can do any of this you must change the image and perception of the community and every detail counts- from the moment a prospect drives through the main entrance -every single detail counts. Flowers, signage straight, trash free, nice crisp entrance and show product will be key
Your team's attitude in this flip also is key- are they excited about it? Do they see the big picture? Get them involved, listen to thier ideas and push the energy level through the roof! A good manager is not a manager- he/she is a leader-
If your leasing team and service team is not in it to win it- it is a lost battle- they are your front line! Make it a TEAM effort and set short term goals for both sides
If you have a resident or 2 that work at a place that you would like to tap into then start working with them to get collateral materials through the door
Have a ribbon cutting through the chamber or hold a press event and ask your vendor to sponsor it- the vendor doing the flip would like the extra press I am sure- I am sure that company would not mind buying some food and helping with collateral costs-
I could go on but at the end of the day- Your energy level and motivation to your team will dictate how far this goes :woohoo:

If you have no money to design models or upgrade them, you could use:
- Urban Lola - silhouette wall graphics peel and stick and peel and stick again. If you don’t like it in your bedroom move it to the bathroom or if you are moving from a condo, apartment or dorm room – this is where you take it with you! Reuse and start fresh – do the green thing.

A few other ideas:
- Press Events - are a great way to bring good people to your community. We adopted a local park in Phoenix and got lots of good publicity. The residents got involved as well as team members.
- Visit your area doctors and leave coloring books for the children with a “complements of XXX Apartments” and information on the front cover. Or visit area doctors offices with a newspaper and the flyer attached to the front with property information. Visit your area vets and leave treat bags for cats and dogs with a business card attached.
- Do some research and highlight some of the other features that the neighborhood offers, such as historical districts, parks, shopping, and cultural events.
Hope some of this helps!

No, the property is not.

So many great ideas! I agree with Lydia, some of the best websites I've seen have displayed the lifestyle that targets the group of people that the apartment is targeting.

For example, I live in Denver and I lived in an apartment complex whose homepage displayed an image of mountain bikers riding down a dirt path with the Rocky Mountains in the background. The property managers also had the photographer include pictures of our town's center and parks.

As you can imagine, these images have a powerful influence on that specific target market. As a result my neighbors tended to be young families who were into outdoor activities. This in turn created a stronger sense of community.

Have you considered adding in-unit laundry? The Ventless dryers matched with front loading washers use a lot less water (12-14 gallons per load) and electric and the washer/dryer combination machines now come in two sizes and connect to 120 volt/12 amps. LG makes different models