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The Resident Email Strategy Guidebook

Introduction Resident retention is a hot topic in Multifamily these days. It is cheaper and easier to have a resident renew than find a new renter--- $2,811 cheaper to be exact. So why does multifamily still have a turnover rate of 53%? Most agents don’t have enough time to check in with residents regularly. We identified the five best times to connect with residents. Now, this can seem like more than your agents have time to do, but there are a lot of email schedulers that can make this a breeze for your team.   Settling the Pre-Move Jitters Before any big change in life, there seems to be a frenzy of emotions. Over the course of one minute, a soon-to-be resident can go from ecstatic to stressed to sad. With all that going on, it’s hard to remember things like when to pick up their keys or how to reserve an elevator. The last thing they want is to do is realize they needed a money order to pay the first month’s rent and all they have is a credit card. And to top it off, its a Sunday so the bank is closed. The worst part is that the leasing agent told them about the money order three weeks ago when the lease was signed. So, they only have themselves to blame. Let’s be real, nobody wants to blame themselves. So, they are going to blame you, the property management, instead. This is not how you want to start off a relat......
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Voice To Text - How Voice Commands Are Changing The Expectations in Multifamily and Beyond

  Technology is changing rapidly - and with the new rollouts from Amazon’s Alexa, Google Home, and all of the other companies using voice technology as a tool for automation, it’s safe to say that voice is the way that things are heading. When it comes to communication, writing, and note taking, verbal voice to text can help things be faster and more automated - allowing you more time for brainstorming, and less time spent typing.Interested in seeing how voice to text will be able to simplify your day-to-day? Check out these ways that we believe voice is going to change the multifamily industry - sooner rather than later.Voice to Connect:Feel like you already have your hands full during your day-to-day? That’s where voice comes in! Voice to text has already become a player in the retail and communication sectors - and now multifamily is benefiting from this tech-trend!Need to send a text message to building 3 after you’ve already left the office… during dinner? It happens! There are resident communication tools out there that allow you to quickly and easily send texts to your residents… and that includes a voice text! In times of urgency or emergency, being able to use your voice to send a mass text message or respond to a resident via text message (from your property’s unique text to chat number) is an essential and powerful tool.Voice to pay rent: Paying rent has seen some major changes over the last few years - once only possible by dropping a ch......
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Revitalize Cold Leads, Effortlessly.

Lead Win-back for Multifamily  Most CRM’s for multifamily ignore cold leads after a few months. The idea is that these leads have decided to rent elsewhere and aren’t viable prospects anymore. However, what these systems are ignoring is the high resident turnover rate for multifamily. 53% of residents do not renew their leases. Which mean 53% of the leads you ignore are going to be actively searching for a new apartment within the next 10 months. Call us old fashioned, but we don’t see why anyone would throw away perfectly good leads. Think about wine for a second. There are two approaches to drinking wine: There are the Barefoot wines that are ready-to-go. This is a popular choice for novice wine drinkers. Similar to how an basic marketing plan is only concerned with prospects who lease with you the first time around. Then there are true wine connoisseurs. They tend to be more experienced and patient individuals. They understand the value of waiting for a desired outcome. This reflects how a mature marketing plan is willing to invest in revitalizing cold leads. Before you get the wrong impression, we aren’t wine snobs. We see merit in both options. Which is why we suggest using an email marketing strategy that manages both warm and cold leads. This approach gives you more opportunities to turn leads into leases. Plus, gives you more money to buy more wine: Win - Win 🙂   How to Win-Back Cold Leads We recommend automating the cold lead communications. That way, ......
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7 Essential Text Messaging Stats Every Property Manager Should Know

  7 Essential Text Messaging Stats Every Property Manager Should Know SMS marketing is quickly becoming a necessary part of business for every vertical - including property management. In recent years, text messaging has proven itself to be a superior communication platform. Texting has become the preferred method of communication between friends and colleagues because it's quick, easy and multi-functional. Because of this, property managers are finding creative ways to use this technology as a reliable resident communications tool - it's the ideal way to let residents know that there's work being done in their community, that the water is going to be out for a few hours, or even letting them know about emergency scenarios if necessary.  If you haven’t yet, you should be looking into ways to utilize a text strategy within your resident communities. In today’s world, few approaches compare. Check out the seven mind-blowing statistics surrounding text messaging, and consider the many ways an intuitive text message platform can help strengthen your community: 95 to 98% of texts are read immediately: These texts are read within one minute of receipt, influencing the recipient (resident) almost immediately. This makes text messaging one of the fastest and most convertible forms of communication available. (Source: MobileMarketing.com) The average response time for a text message is just 90 seconds: Compare that to the average response time for an email, which is 90 minutes (Source: CTIA.org) 86% of consumers send and receive texts every week: Today’s modern consumers are mobile-centric, so it isn’t a surprise how often the......
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Why You Need a High Risk Merchant Account for Your Real Estate Agency

Accepting payments, when you're in the real estate industry, it can be difficult. Why you ask? It's due to risk. Since a large portion of the real estate industry deal with trades and e-payments, being able to set up a high risk merchant account to accept online credit card payments is tantamount for day-to-day operations. So what happens when you set up a merchant account with the popular payment aggregators like PayPal, Stripe, or Square? Your business may be running smoothly for a little while, but one day you might wake up to find your payment processor has frozen or completely shut down your merchant account.  Why does that happen? It's because services like PayPal and Stripe process payments in aggregate merchant accounts that are comprised of many different businesses in a variety of industries with alternating levels of risk. Many in the real estate industry set up their merchant account with these payment aggregators because they offer instant approval. But, things change after the underwriting process is over or a customer has filed for a credit card chargeback. For real estate companies, aggregate merchant accounts can only lead to aggravation. What you need is a dedicated high risk merchant account for your real estate business. A dedicated merchant account is basically a bank account for your business. When a client sends a payment through your online payment portal, the transaction gets approved through a payment gateway provided by your eCommerce platform, and then the funds eventually end up in your......
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Is Your Apartment Marketing Boring? Try Theming...

Is Your Apartment Marketing Boring? Try Theming...
One quick way to elevate your marketing is through theming... And the fastest, easiest themes to come up with are seasons and holidays. For example, we're in the month of October, which means the start of Fall, pumpkins and Halloween.  An easy way to adapt this in your marketing is to change out any website images with fall like photos. If you're running ads on Craigslist, Facebook or Google Display Network - you can tie in the October month by adding an orange border around your ad photos. This will make them stand out. Here's an example: Additionally, think about making your prospecting emails more fun with Halloween references. Create a haunted apartment at the community for residents. Create a haunted walking tour for prospects that come onsite for a tour. When you start theming your marketing becomes more fun, fresh, and relevant. In many cases you'll be piggybacking on the millions of TV and digital ad dollars being spent by big box stores promoting their own themed/seasonal goods - that's a good thing as you're entering the thoughts/conversation already happening in your prospects mind. Other themes you can use: Winter holidays such as Christmas, Hanukkah, etc. New Year Valentine's Day Start of Summer 4th of July Labor Day Need more ideas? Here's a full calendar of unusual happenings that your marketing could take advantage of. (Note - this website is very old, but still useful)...
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Apartment Marketing 101 - Professional Photography

Apartment Marketing 101 - Professional Photography
There's a case to be made that photos are the most important part of apartment marketing. While some would argue differently, there is no denying the impact that quality photos (or lack thereof) have on potential renters and their decisions to visit your community. For that reason alone, it's imperative that you have quality photos of your community. While some ILS's now offer professional photos with their listings, most of those images are watermarked, limiting their use in other areas. Not to mention, that in most cases, you do not have a say in who will be photographing your community or building, much less the final images. With that in mind, I always advise my clients to hire a professional photographer. Here are several tips on hiring the right photographer and getting the best photos of your community: FINDING A PHOTOGRAPHER Google Search - Most people start with a Google Search to find anything these days, and the same is true for finding a photographer. One thing to consider is searching for your specific city for photographers, not national firms. Also highly suggest using sites like Yelp, and Google Reviews to get more information on the reputation and reliability of the photographer. Competitors - This may sound counterintuitive, but asking competitors (who have great photos), who they used, is a perfectly acceptable course of action. In some cases, you can even find the photographers information on their website. Company or Individual - There are a large number of companies as well......
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5 Essential Automation Plays for Resident Satisfaction

5 Essential Automation Plays for Resident Satisfaction

What is the Resident Zone?

Before we jump into the Resident Zone, here is a refresher on the concepts behind Lifecycle Programming:

  • playbook is the complete guide to automated customer lifecycle marketing. It maps out personalized content to engage customers from the time a prospect fills out a guest card until they move out.

  • A zone defines where the customer falls in the customer journey.

  • A play is designed to move customers from one lifecycle stage to the next. 

 

The Resident Zone encompasses all customers from the time they sign a lease to until they move out. If you have looked through our Playbook, you probably noticed the Resident Zone has more plays than the other two zones combined.

There are three reasons why this zone has the most plays:

  1. It’s the only zone where the PMC’s make money (so we want to keep customers there!)
  2. It has the longest time frame. A customer can be a resident for years. So, it is important to keep them engaged throughout their residency.
  3. The Resident Zone has the most lifecycle stages; therefore, it has the most plays.

 

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Get with the Program... Lifecycle Programming, that is. :CLM Series

  What is Lifecycle Programming? Lifecycle Programming is a way to automate customer lifecycle marketing for Multifamily.It combines customer lifecycle marketing efforts from employees and the digital workforce to build stronger customer relationships. Let’s dive deeper.   How Does it Work? Using a series of plays, Lifecycle Programming provides targeted content to customers. The customer’s stage in the lifecycle determines the play used. Each play is a collection of email topics to send to customers in a particular stage of the lifecycle. A play contains a mix of automated drips, triggered alerts and eBlasts.All together, these emails work to move customers from one stage to the next.  Plus, they are faster and easier than traditional email marketing campaigns! Automation is the key to making Customer Lifecycle Marketing for Multifamily work. Each of the email types used in a play involves some degree of automation. Let’s learn a little more.   Triggered Alert Triggered alerts have the highest level of automation. These emails rely on ambient intelligence to sense and respond to an event. Trigger events can be a result of a property’s action or prospect’s action. Property triggers result from property management company actions. These can vary from price changes to policy changes. Prospect triggers are a result of actions taken by the prospect. Events like submitting an application or clicking through an email are prospect triggers. Take a look at the chart below. It makes it easy to see how little agent effort is required. For example, a prospect may only click through emails featuring one bedroom apartments. The system uses that information to infer the......
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Hey Property Managers — Branding isn’t just for Apple and Google

BrandingResidentLoyalty Most companies think branding is for giants like Apple and Google. After all, these tech monsters yield a combined $270 billion in value from their efforts. All the result of a well-coordinated branding effort that includes frequently focused messaging and a consistent visual presence at every touch point.However, just because you’re a smaller property management company, don’t think for a moment that branding isn’t just as important for you.Branding maintains consistency with messaging, emails, and other regularly used outreach tools that over time leaves with the consumer a lasting impression of the quality of your company. Done properly, branding can also influence the reactions and thoughts prospective residents, current residents and first-timers have when they interact with your property. First impressions last a lifetime - and with so many other choices out there for your potential residents, it's important that you're building trust and brand loyalty every step of the way - whether they're still a potential lead or an active member of your community.Think about it—a potential resident is evaluating whether or not they want to live at your property (or continue living at your property.) If they walk away feeling like your company is “cheap”, lackluster and disorganized, they’re going to pass you over and set their sights on somewhere else. Having a strong and consistent internet presence is more important than ever - resident communities have become a world full of choices. Properties are a dime a dozen in the mind of the resident, so it’s your job to present y......
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