Wood Partners has been successful in marketing some of its communities at Starbucks’ in-store or drive-thru lines. Here’s a little about their program from an article in UNITS magazine:
We partner with Starbucks often and have great success with outreach events at Starbucks locations near our communities. One of our favorite ways to outreach at Starbucks and other local coffee shops is to have a pay-it-forward event, where we purchase coffee drinks for the prospects and distribute information about our community.
It creates feel-good experiences that are memorable for the patrons and at the same time, helps us to get the word out about our new communities. I can only imagine the word-of-mouth exposure that our communities receive when the recipients of a pay it forward coffee drink share the news with friends, family and colleagues.
We had a particularly successful partnership with a Starbucks location in Charlotte, N.C. The local Starbucks named a drink, the vanilla-flavored APV Latte, after our newly opened community, Alta Prosperity Village, and we were able to advertise the drink.
Starbucks provided our team with Starbucks gift cards, and we provided our prospects with a gift card after each tour. We have found Starbucks to be a great partner and that they are willing to work with us in most scenarios. The level and type of partnership vary by location.
Get more details by reading the full article.
Multifamily Insiders has a good article about the challenges faced by leasing professionals, and they end it with seven helpful tips for developing a prospect-centered approach to leasing. Here’s three of them:
Have a conversation, not an interrogation. Too often we’re asking question, question, question, question. Interview. Interview. Interrogate. This is a very scary thing when you’re on the buying side. Have a conversation with the person that you’re talking with.
Focus on the prospective resident. Pay attention to the prospect and treat them like a person. Don’t treat them like a guest card. Don’t treat them like a tour. Don’t treat them like a number. Focus on them, pay attention to them, and listen to what they are saying. Interact with them the way you would want to be treated if you were in their situation. Make them feel like they matter, and you’ll see a tremendous difference.
Start and finish the tour strong. Your prospective resident will be impacted most by what you do at the beginning of the tour (it “frames” the rest of the tour) and the last thin you do (it’s what they’ll most likely remember).
You can find the rest of the tips here.
From Multifamily Executive:
To better crack the code on what apartment renters want, the National Multi Housing Council (NMHC) and Kingsley Associates have partnered on one of the largest surveys of apartment resident preferences. The survey was sent to 200,000 residents across the country, and responses were collected from renters in 38 states, covering 84 MSAs and a wide variety of property classes and building types and sizes…
One of the clearest takeaways from the survey results was that the right level and mix of community amenities has become a much more important factor when renting an apartment…
In fact, respondents cited amenities as one of the top three reasons they decided to rent versus own, after location and lack of a down payment. More interesting is that, compared with previous surveys, a larger percentage of respondents in 2013 pointed to community amenities as a top factor, while a smaller percentage indicated the lack of a down payment as such…
Moreover, amenities are even more important for people looking to rent in higher-end communities. More than 75 percent of respondents at Class A properties cited community amenities as a high priority, compared with 58.8 percent in Class B properties and 49.2 percent at Class C properties.
A Raleigh-based company has launched a software product that seeks to help managers evaluate and place leasing professionals:
Low retention rates in leasing offices have been plaguing the multifamily industry for decades, though nobody knows exactly why.
But with tons of metrics available, Raleigh, N.C.-based Leasalytics is hoping to solve that puzzle, by offering a more transparent view of leasing consultant performance.
The new software aims to give managers a better handle on which leasing agent would succeed in a certain environment, on who the right leasing agent is for a given time and place.
Read the full article here.