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Hola! Aquí estamos. Are you ready, or not?

 

Hola! Aquí estamos. Are you ready, or not?

 

We are an assortment of cultures and ethnicities in America. Savvy multifamily marketers know they must learn “who” their audience, or target market, is in order to effectively lease more apartments.   One of every four Americans is ethnic or foreign born. 

The largest cultural groups found in the US today are Asian, Hispanic, Middle Eastern and European. 

With numbers totaling 50.5 million, Hispanics are the largest minority group in the US, representing 16.3 % of the total population.  The buying power of Hispanics, which are an ethnic group but not a racial group, will rise from $1 trillion in 2010 to $1.5 trillion in 2015, accounting for nearly 11 percent of the nation’s total buying power. The Hispanic market alone, at $1 trillion, is larger than the entire economies of all but 14 countries in the world–smaller than the GDP of Canada but larger than the GDP of Indonesia.

Nearly half of all Hispanics in the US – nearly 25 million people – rent their homes.

Apartment owners and managers in the South and the West should take note as the 2010 Census indicated more than three-quarters of the Hispanic population lived in the West or South.  That does not mean Northern or Eastern property management professionals should forgo bonding with this group.  Larger MSA’s such as Chicago, New York, New York and others should seek to connect with Latinos as well. 

So how Multicultural are YOU?  What are you doing to better engage your Latino prospects and residents? How do you recruit, hire, train and retain the best Latino employees? 

To be competitive we must be more than culturally tolerant.  We must be multicultural.  The Multiplicity Marketplace Intelligence© quiz is a great starting point to assess your understanding of different cultures and ethnicities.  

 

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This comment was minimized by the moderator on the site

I am not against immigration; it is illegal immigration that bothers me when peope cross our borders and expect us to learn their language, pay for our government forms to be printed in their language and pay for the public services they would be taking from the rest of us.

I say if you want to come here, learn and use our language; and do it the right way!

When I was in the Army and sent to Germany, they had us learn at least a little German out of simple respect. And we were typically only sent there for 2-3 years at a time before rotating back home. Many of these people come here and refuse to learn our language and customs.

First thing I would do as a property manager is see if there is a demand to offer residents ESL courses on site. Hire a teacher a few hours a week and divide the cost equally among the participants. Use your community room for this.

Ok I am off my soapbox now.

  Johnny Karnofsky
This comment was minimized by the moderator on the site

And from what I understand, under Fair Housing rules, you can actively target the Hispanic demographic!

  Brent Williams
This comment was minimized by the moderator on the site

A property management firm was fined by Fair Housing for placing ads with an all-white family. It conveyed the message that they only rent to Caucasians.

I'm offended that there aren't whites, asians, blacks, middle-eastern, handicapped, seniors, hindi, gay & lesbian, as well as trans-gendered people in the photo as well.

Maybe it's a secretive effort to attract INS Agents to their properties. Arizona Housing Authority

  Jeff Gough

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