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4 Easy Ways to Use Social Media Marketing to Find and Retain Residents

social media marketing for property managers  As a property manager, you’ve got a lot on your plate. Between managing maintenance issues, responding to residents’ requests, and coordinating tours of vacant units, you might feel like you don’t have a second to spare for social media. But social media marketing is a powerful and effective way to promote your property and acquire new residents.  If you’re interested in developing a social media marketing strategy, read on to learn how to effectively market multifamily properties on social media and which platforms you should be using.   Four steps to developing your social media marketing strategy If you’re new to social media marketing, you might not know where to start. To maximize your success, it’s best to go into it with a plan.  Follow these four steps to start marketing your property on social media: Set a goal Determine who you’re targeting Develop a content and posting plan Examine results and adjust accordingly   1. Set a goal Rather than just creating content and posting at your leisure, you need to first develop a goal. Do you want to increase your followers? Or are you more focused on improving engagement? Having a goal in mind will give your strategy purpose and serve as a roadmap for your marketing efforts.  Here are some examples of good goals to set: Gain 100 new followers in one month Generate 10 leads through social media in three months Post every day for at least three months   2. Determine who you’re targeting With your goal i......
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3 Easy Ways to Retain Residents in 2021

retain residents for multifamily property managers      It’s safe to say that the multifamily industry faced some unprecedented changes and challenges in 2020. Now, in 2021, property managers are tasked with adapting to a new reality and finding new ways to keep residents content.  Investing in resident satisfaction is always worthwhile because it leads to increased loyalty and lower turnover. We all know that keeping existing residents helps avoid the cost of vacancies and lost rent — but how can property managers retain residents? Here are three ways you can better retain residents this year: Enhance communication with residents Create a sense of community Adopt new technology   1. Enhance communication with residents With so much uncertainty within the last year, it’s vital that you maintain open and positive communication with your residents. To improve communication with your residents, try these tips: Always ask for feedback. Not only does asking for feedback give you tangible ways to improve, but it also shows residents that you genuinely care. Stay positive. Even when you have to deliver bad news or deny a resident’s request, use friendly and positive language. A positive attitude goes a long way. Keep residents updated on your building’s latest COVID-19 policies. Whether your amenity spaces have reopened or you’ve updated your sanitation measures, send out a quick message to let residents know. These ongoing updates will provide some much-needed peace of mind. It’s never a bad time to invest in the relationship between property management and residents, but now it’s more crucial than ever. Maintaini......
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COVID-19: What Landlords Can Expect in the Coming Months

The Pandemic of 2020 has truly altered or drastically affected everyone’s life and day-to-day operations. As a landlord, navigating these difficult times has definitely been challenging. As we enter the middle of August, the situation does not seem to be getting any better. In fact, landlords and property managers are starting to wonder if things are actually getting worse. The truth is that the end of the $600 a week stipend and the moratorium on evictions essentially expiring on August 24 are leaving millions in limbo. So, what exactly does this mean for the months ahead? Well, that is the question on most landlords' and property managers' minds. The best way to address this question is to look at the many façades of the multifamily rental industry that have been affected by COVID-19. Rent Payments Clearly, COVID-19 has had a significant impact on tenants’/renters’ ability to make consistent or on-time rent payments. Many tenants have worked out agreements with their landlords, some are simply unable to pay, and others have found a way to stay afloat during these uncertain times. The concerns here are the reduction of unemployment benefits, the looming end to the moratorium, and many businesses closing their doors for good. With all these things happening at the same time, it is unclear how people are going to continue to pay for the basics. The good news is it is not all gloom and doom here; there has been a significant shift when it comes to remote workers. Since a good......
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A Guide to Smart Apartments

A study conducted in 2016 by the Pew Research Center found millennials have surpassed baby boomers as the largest living generation in the U.S. To keep up with this tech-savvy generation, multi-family professionals understand the value in updating their facilities to feature smart technology. Whether or not you consider yourself a techie, this innovative technology is taking the industry by storm, and gives a competitive edge for properties that adapt. Smart features, including smart locks, lighting and HVAC systems, have become key elements to attracting potential residents, and property managers are taking a closer look at smart home features that provide additional convenience. As they consider upgrade options, smart locks are the perfect place to start. In particular, Schlage Control™ Smart Locks offer innovative, appealing solutions to attract new residents and streamline operations. These locks are an open architecture design, allowing property managers to easily upgrade systems that will seamlessly integrate with Allegion’s Software Alliance members. Additionally, Schlage Control™ Smart Locks allow property managers to easily grant or revoke resident access, gather data, view access history and more. Similarly, Wi-Fi enabled thermostats controlled by smart devices can help cut costs for both property managers and residents. For residents, the ability to control the temperature of their apartment via smart devices allows them to remotely adjust the temperature levels as needed. At the same time, for properties that factor utility costs into the rent, the automated temperature control across units can help cut costs, especially when apartments are unoccupied. Should a unit becom......
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7 Ways Property Managers Increase Income Property Profitability

7 Ways Property Managers Increase Income Property Profitability
Paying a property management company might seem like a needless extra expense at first blush. But, before you dive into managing your own investment properties, consider a few ways property managers can use their resources and experience to actually boost your profits. Save time, save money. Some tenants are easy-going and can handle minor property maintenance and small repairs. Others are more high-maintenance. Spend time working or with family rather than hanging light bulbs, greasing squeaky hinges, and trimming bushes at the rental property. Save on maintenance and repair costs. Property managers regularly employ bonded and insured contractors and maintenance staff. The volume of maintenance and repair work that property managers handle means they pay less, understand the work, and can supervise effectively. Collect rent without a runaround. Property managers handle all collections and any legal issues that arise from nonpayment, including eviction. Keep properties rented. Management companies vet tenants to find the best ones, keep tenants longer than owner-managers do, and keep vacancies to a minimum. Managers set a fair rent for your property and market it effectively to attract the best tenants. Maximize property values. Management companies know all about the best improvements you can make for your money to improve its actual market value. They'll share that knowledge with clearly written, easy to understand proposals that are tailor-made to increase your profit margin. Simplify income taxes. Property management contract payments are actually tax-deductible expenses. A good property manager also keeps all your paperwork and receipts in one place,......
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How to Convert Free and Paid Leads to Paying Multifamily Tenants

How to Convert Free and Paid Leads to Paying Multifamily Tenants
Many apartment property managers wonder just what to do next with free or even paid tenant leads. How can managers be sure to convert those leads to paying tenants? The following tips should help property managers convert valuable tenant leads to tenants in little time! Convert Leads by Impressing Them with Amenities “Not to brag but…” Sometimes there are occasions where bragging actually works. And if your property boasts beautiful views, clean swimming pools, video intercom, and a spotless gym, then work it! Find out what your leads want most in a new rental, and if you have it, then make sure they know it! Convert Leads by being Honest with Them The minute you start sugarcoating EVERYTHING is the minute that you lose potential tenants. Leads are human, too, and they can typically sense that there is something to hide when everything is portrayed as perfect. It’s okay to point out some realistic flaws, just be sure to tell them if and WHEN those flaws will be fixed! Convert Leads by Showing that “Supplies are Limited” Supply and demand; it’s what makes our economy tick, right? Well, the same goes for filling vacant apartments. If the supply is much higher than the demand, then there is no sense of urgency. If there is no sense of urgency, then another property might snatch your lead just because they screamed, “act now!” So if you’ve shown someone the same place earlier in the week, then be sure they know it! Convert Leads by Showing Exciteme......
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Engaging with Generation Y: 4 Factors Millennial Renters Look for in an Apar tment

An imperative skill for property managers to possess is knowing their rental audience, and recent research suggests that millennials, the demographic of people between the ages of 18 to 33, are the audience property managers should cater to. Homeownership is on the decline, and more millennials are renting than any other demographic. In fact, between 2011 and 2015, 60% of rental housing applicants were millennials. This is due in large part to students’ rising loan debts, which has tripled over the past decade. Factor this in with the 2007 housing crash, and it’s no surprise that Generation Y is more likely to rent an apartment than buy a house. Multifamily property managers are beginning to realize that as the millennial market is growing, strategies should be implemented to appeal to the younger age group. In 2010, it was estimated that in the United States there were 62.6 million people between the ages of 20 and 34, and an astounding 37% of them were renting apartments. While this is good news for multifamily property managers, it is important to note that millennials have very different desires than previous generations of renters when it comes to what they consider when searching for an apartment. At Trimark Properties in Gainesville, Florida, we specialize in student housing and have discovered the factors that millennial renters found to be important when searching for an apartment. Considering these five factors is important when attempting to attract Generation Y student renters. Location – One of the most importa......
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Tips on How to Make Your Company Technologically Friendly to Continue Attracting Residents

      We at Trimark Properties specialize in student housing, a special niche of the real estate market. The Millennial generation is more mobile friendly than any previous generations, meaning the days of paper storage and outdated computer systems is over. The Internet has reshaped the real estate industry since properties can now be viewed and utilized on a phone, tablet, or computer. Potential residents can take a virtual tour online of an apartment before committing to a real tour and have a plethora of information at their fingertips. Therefore, they are much more knowledgeable about the apartment market since online research is so easy to undertake. The multifamily industry is now focused on what things millennials are looking for. Even though millennials are the most mobile friendly age group by far, many other generations still have the same expectations for ease of technology use as well. Regardless of age, if a person drives past your property and sees it is for rent, they should be able to easily search for that property on Google, find a comprehensive list of the property’s amenities, interior pictures, and contact information for a leasing specialist. Since Trimark has mostly college students in our Gainesville market, many parents are very involved in the leasing process. For a parent who is worried about the living situation of their first child at college, technology can be your company’s greatest weapon, or its greatest weakness. Lack of pictures on your website paired with an unfriendly format doesn’t lead ......
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Catering to Renter Requirements: How to Guide Renters to Their Ideal Home

Catering to Renter Requirements: How to Guide Renters to Their Ideal Home
Potential renters come to the leasing office with specific occupant requests and a vision in mind of their desired experience in their future home, and as a property management firm it is crucial to guide possible tenants to a unit that will suit their needs and foster renter satisfaction. If you are a property management business dealing with multiple different properties, it can sometimes be overwhelming to advise those searching for a new residence to a specific apartment or house among all of the alternatives. At Gainesville, FL, apartment management company Trimark Properties, we actively work to match the renter’s desired description of their pictured dream home by supporting them in finding a unit in our portfolio which features all of the requests the renter is looking for. After decades of experience in managing a selection of over 25 apartment complexes and dozens of historic houses located all around the Gainesville area, we have found a guaranteed system that can be used by any property management company to make sure all tenants’ desires are taken into consideration and help select the best housing option for them. Leasing agents and property managers can easily aid possible renters in finding their ideal living space by using a simple method of segmenting specific rental factors into categories, and asking them how they rank these classifications in order of importance.   Below are the five most important categories of renter requirements that leasing agents should take into consideration when helping a potential tenant find their per......
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5 Time-Saving Tech-Savvy Email Tips for Apartment Managers

5 Time-Saving Tech-Savvy Email Tips for Apartment Managers
Our progressively digital era has made it easier for property managers to connect with tenants and potential renters through useful communication platforms such as email to keep residents informed about property information and digitally market apartment complexes. Although email is an exceptionally beneficial communication device for property managers, it can quickly become stressful to manage hundreds of residents online. Depending on the amount of properties managed and the specific size of each, marketing and leasing email lists can spike to over 500 new emails in a busy week, and even with an experienced team of staff members, this number can be daunting. With the considerable amount of other duties property managers face on a daily basis, they don’t have any extra time to spend worrying about formatting an email to their residents. Where I work at Gainesville, FL, property management firm Trimark Properties, our team has to balance a portfolio of 25 apartments near Sorority Row, 2 off-campus dorms, and numerous houses. Managing thousands of residents from dozens of properties can be tricky, however we have found that by organizing your email system and establishing ground digital communication rules, operating a business email system can be made exponentially smoother. By utilizing valuable email tools and educating apartment staff on commercial email regulations, digital correspondence can be made more straightforward and effective, impressing both tenants and potential renters and simplifying the job of property managers. Here are five tech-savvy email tips for property managers: 1.)    Send out Mass, Personalized Announcements Using an E......
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