Differentiate Your Property From Others

Posted on
by Stuart Platt.

Could you split these two up?

One property I spoke with increased their maximum pet weight limit from 25 to 50 lbs and gained 3 new tenants in the first week that normally would have been turned away.  Another property added an online furniture planning tool to their floor plans and increased the average time spent online by over 300% (http://a.ifp.outhouse.net).

Interactive Floor Plans - Will my bed fit?

We all want our property to stand out differently than others (in a good way!), right?¬† We all believe, at one level or another,¬†”If I can implement a marketing tool or strategy unlike¬†any other property, I will gain more traffic and more tenants.”¬† We think this because for the most part it can be very true.¬† Or if you can¬†revise a common policy more lenient than another, maybe that will fill your¬†vacancies faster like it did by allowing a larger pet.¬†

Please share with us other clever strategies or even the simplest ideas you have come across that have driven additional traffic to your property or website.  And what have you seen other properties implement that seem to be working?

4 Comments

  • 1
    August 10, 2011 - 4:46 AM | Permalink

    Lifestyle events at 3-4 per month. Pretty big events that mostly we cross market with leaving the event costing us virtually nothing. Lifestyle events that residents actually show up to and look forward to. At the end of the day when it comes to Renewal time and you are offering increases (steep in some cases), the Resident is no longer just sold on the wood flooring, granite and all the bells and whistles of the unit but more so sold on the community environment we created. If you continue to have those, they will come!

  • 2
    Stuart Platt
    August 10, 2011 - 9:48 AM | Permalink

    3-4 big events per month? That’s amazing. Could you give a few examples of the events and what do you mean by “cross marketing” to eliminate most of the costs? And I completely agree the social events can very much separate one property from the next and really make you shine.

  • 3
    September 9, 2011 - 2:23 PM | Permalink

    We do multiple events each month. We host movie nights and show different sporting events, depending on the season. We have a monthly Texas Hold’em Poker tournament and the prizes are 100.00, 75.00 and 50.00 off of next month’s rent for 1st, 2nd and 3rd place, we’ve had 3 on 3 basketball tournaments, pool parties, ice cream sundaes on Sunday by the pool, volleyball games, cook outs,Halloween parties, “laidies night out” parties (these usually consist of someone coming in who sells jewelry, handbags, etc), During the holidays we do a pot-luck Thanksgiving dinner where we provide the Turkey and the residents bring side dishes and desserts, after which we decorate the XMas tree in the clubhouse. Last year we did a “Kick-Off to Christmas” event where we invited local vendors to bring items to display and sell and had finger foods and other refreshments. It’s a definite that when people know each other and like living by neighbors, they tend to stay a lot longer!

  • 4
    Stuart Platt
    September 13, 2011 - 9:31 AM | Permalink

    Thanks so much for your comment Karen. Those are great ideas and I especially like the poker tourney (being a poker player myself). The “Ladies Night Out” is a great idea too. It sounds like you are doing a great job getting your residents involved making it feel more like a community.

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