Summer will be here before you know it. Temperatures will rise and so will the pressure to fill empty units at your property. May through September is ‘peak’ season when it comes to the multifamily industry so having a few unique marketing ideas can help set you apart from the competition. The weather is nice, students are out of school, leases are ending, and the pressure is on. Check out these hot summer move-in ideas!
Now is a better time than ever when it comes to capitalizing on your summer marketing goals, the warmer months are sizzling with opportunity. Starting early will allow you to get a jump on your competitors. Try hosting a ‘Summer kick-off party’ or a Fourth of July barbecue. This will please your current residents and grab the attention of potential renters. Encourage your tenants to invite friends - it’s a good way to bring the community together and woo new renters. Think about holding a raffle with prizes that will make your tenants' lives easier. How about offering $500 off next months rent when a friend signs a 12-month lease at the same complex? If you’re not being innovative with your apartment marketing prospects will notice, the competition can be fierce so don’t be afraid to try something new.
Multifamily marketing is cyclical; what worked in January may not work in July. It’s best to carve up your strategies seasonally. Summer is the most popular time of year to move for a few reasons. Renting families often wait to move until June to avoid moving school districts mid-year. Young professionals are entering the workforce, and college students and locals looking for a change of lifestyle. Moving in summer is also more practical in many locations. Think about those renters in a cold, snowy city, such as Minneapolis or Chicago.
When demand is so high during the summer, some property management companies don’t go out of their way to entice new renters (this is a mistake). They assume they’ll fill up vacant units because there are so many apartment hunters out there, but this can backfire tremendously. The summer is the perfect time to get aggressive with rental specials because people are looking for the best deals. Waive your pet fee, offer waived security deposits or free parking to drum up interest. If you’re in an area with college students, military, or government employees, offering a discount based on the group they belong to can attract them to choose you over the apartments down the street.
There’s all kinds of fun, creative ways to show off your property this summer. Ramp up your apartment marketing efforts during busy summer months by sponsoring a local event or attend a musical festival (especially if you’re targeting millennials) and hand out swag that prospects find useful. Sunscreen, water bottles or phone chargers with your properties logo can help you stand out.
Summer is the perfect chance to get those marketing feet wet. Just because there are more people hunting for apartments doesn’t mean your property will automatically fill up. You need to figure out a few clever ways to stand out both online and offline. Get ready to beat the heat this summer and try a few ‘cool’ marketing ideas. Contact us if you want to run any new specials for your property in time for the season!