Investing in multifamily real estate can be a highly effective way to create wealth and achieve financial freedom. As the British economist John Stuart Mill said, “Landlords grow rich in their sleep.” Wise words, assuming, of course, that the landlord has no problems attracting quality tenants to fill apartment vacancies.
Rest easy and earn those dollars in your sleep by incorporating these seven genius marketing ideas for your apartment listings.
1. Expand your social media reach
Look beyond the Facebook world and capture new audiences through Instagram and Pinterest. Post professional photos of your available units along with contact information. Side note: photos are everything when it comes to marketing your apartment listings. Before you go any further, make sure you have high quality, professional images.
Beyond just adding killer photos of your apartments to Instagram and Pinterest, you can cultivate those accounts to widen your reach. Instagrammers who respond to comments and engage on other relevant posts by liking or commenting tend to get more traffic. On Pinterest, create different topical boards that are appealing to your target client.
2. The power of the review
Apartment seekers will read your online reviews. That’s pretty much a given. Be sure they get a positive impression by encouraging current residents to share their raves online. Start a tenant incentive program for writing positive reviews on sites like Google, Yelp, and more. Offer small gift cards or entries to win rent discounts or other prizes.
Other than an incentive program, don’t forget to simply ask for reviews. Of course, if you are providing stellar service, your residents will be more inclined to leave those five-star reviews for you, so if your reviews are on the less-than-positive side, it’s time to do some reflection about how to improve. Check out this post for the best strategies for handling online reviews.
3. Freshen up your Facebook presence
Facebook is still an extremely powerful social media outlet, with over a billion users. Here are three ways you can get more engagement and fill apartment vacancies through your Facebook account:
4. Fill apartment vacancies with #HashtagPower
Each time you post on social media like Instagram, Twitter, Pinterest, or even Facebook, strive to include several relevant hashtags to drive traffic to your post. Don’t overdo it, though, or you risk looking spammy. 10-15 hashtags will be plenty for Instagram; pare it down for the others.
Your hashtags should be relevant, engaging, and on brand. Do you have a tagline or slogan? Hashtag it! Harness the power of trending topics by including those each day, like #MotivationMonday #tbt, or #WeekendVibes. Before slapping any old hashtag on your post, check a site like hashtagify.me to research how that tag performs and to find others that are trending.
5. Blog It!
Many successful apartment communities publish their own blog with relevant local content. By using local keywords and publishing regularly, your apartment website will rank higher in search engine results. Not sure what to write about? Some ideas include tips for first-time renters, highlights of local attractions, and features on area events.
6. Show off with snapchat
With over 300 million active daily users, Snapchat is an underutilized social media platform in the multifamily marketing world. You’d be wise to pay attention to it now, especially because Gen Z is entering the rental marketplace, and they definitely aren’t using Facebook anymore. Highlight your property through Snapchat stories and ads and encourage residents to follow your account and share their own content about the property.
7. Start a YouTube channel
Create your own YouTube channel that highlights fun and practical tips for renters as well as videos featuring your property. You can upload walk-throughs of your available floor plans, highlight fun events at your community, or feature resident testimonials. Your videos can then be easily shared via social media or on your website. Vlogging, aka video blogging, is set to be a major marketing trend this year. Share snippets of daily life in the community to build an even bigger audience of potential renters.
Sure, you may have to get a little creative to crush the marketing game for your multifamily real estate, but the right mix of savvy and good old-fashioned hard work will fill apartment vacancies faster than you can say #WelcomeHome to all your new renters. Earn those dollars while you sleep!
Thinking about investing in multifamily real estate or needing more guidance with your current properties? Learn more at TheresaBradleyBanta.com. We’re here to help you with your short- and long-term investment goals. Contact us today to set up a consultation.
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