By David R. Cohen, Portfolio Manager, Summerfield Property Management
Roughly 90% of all renters start their search for a new apartment online. As such, choosing the right digital marketing strategy can make or break the performance of your investment.
At Summerfield, we are laser-focused on getting in front of new trends and best practices when it comes to digital marketing, online reputation management and utilizing the newest software platforms.
We make no secret of the fact that we aren’t the largest management company out there. But our medium size is actually our greatest advantage. We take advantage of this by constantly innovating and offering more to our clients in the form of greater attention to detail and flexibility in the management of their assets.
As mentioned above, a majority of perspective renters will get their first impression of your property online via social media, organic search or an internet listing service like Apartments.com or Zillow. As such it is vital to optimize your appearance on all of those fronts. Our marketing team works closely with site staff and our vendors to enhance the appearance of your property on every platform.
Some important items when implementing a successful digital marketing strategy:
Once perspective renters find you online it’s only natural for them to look up your reviews. Having poor online reviews is a surefire way to turn away tenants before they even come in for a tour. We employ a dynamic reputation management solution for our clients that allows our site staff to see and respond to all reviews online across every platform.
For example, the industry average response rate for reviews is 30% – we put a process in place at one of our properties that has improved this response rate to over 70%. We also utilize strategies to drive up ratings across all of our properties online so your property always makes a great first impression.
Using the right software to manage a property is crucial and can lead to synergies that make the difference between thousands of dollars and tens of thousands per year in NOI. You may not know it, but we offer every single software platform and technology that our larger competitors do and then some.
We utilize platforms that assist in setting market rents, track leads, lead response, and simplify move in/move out inspections to make sure we capture appropriate damage income.
Because of our size, we have more time to focus on the activities that will positively impact as many line items on our P&L as possible to maximize NOI.
Some client customizations we have employed or currently employ include:
We recently took over a 180-unit apartment community in Washington and were able to produce NOI growth of 12.5% in the first 24 months of management.
Ready for a better property management experience?
Part of our commitment to building a relationship with you is our willingness to come to you and present a custom proposal for your property.
Reach out to book a time to talk with one of our experienced property management professionals in person.
Contact us today or book a call at a convenient time to learn more about our program.
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