How To Ensure Your Older Property Stays Competitive

When you run an older property, you may get stressed out when a new developer comes into your neighborhood and builds a brand new complex full of modern features. However, you can still stay competitive with newer properties by incorporating a few new tactics. Here are some great ways to ensure that your older property stands up to the new guys.

Focus On Your Property’s Best Features

Newer places have tons of amenities and a modern spin, but many of these places are the same thing over and over again. They offer the same amenities and same decor as everywhere else. There are plenty of people who would rather live somewhere with older unique charms and features. So instead of trying to compete directly, think about what sets your property apart from these newer models. Do you have interesting woodwork, historical charm, or gorgeous full grown landscaping? Not everyone wants the same thing, so instead of trying to fit in, stand out.

Upgrade Where Necessary

Instead of going for a full costly remodel, consider ways that you can improve your property that add value. Start with a facelift. Paint your interior and exterior and then add new flooring. Then invest in some modern technology. Upgrade your appliances to newer models, add some tech features like Wi-Fi or a digital common space, and modernize your amenities with new equipment. When upgrading, keep everything that makes your property truly unique. Offering a place with older charm but all the great modern features, is extremely attractive to potential residents.

Focus On Resident Retention

The big advantage older properties have over newer developments is that you are more established and connected to your community. Focus on the community you currently have. It is much cheaper to offer incentives for your current residents to stay than to try to attract new ones, especially in the face of market competition. Have resident events, activities, and make gestures of appreciation to make your community even stronger. You can also consider incentivizing staying by offering lower rents and cutting fees for lease renewals. Make sure that you will offer something the newer complexes cannot, a sense of home.

So if you are facing competition from a newer building, don’t worry. Instead focus on what makes you stand out from these newer buildings. Older properties have some distinct advantages. Focus on these advantages and you will have no reason to worry about the competition.

 

Prep Your Rental With Our Helpful Summer Checklist

Summer is right around the corner and before it gets here, you should start prepping your rentals property to make sure that everything is for the change of seasons. There is a lot to keep track off for summer rental preparation, so we decided to make you a helpful checklist so you wouldn’t forget anything you need to do:

Top Four Websites To Advertise Vacancies

There are dozens of websites online where you can list vacancies for your rentals. Where you list your website is just as important as how you list your website. Not every site will have the same ROI or will be perused by the ideal renters. To help you fill your vacancies, here are the top four websites to advertise your rentals:

Fun Property Event Ideas For Spring

With Spring now upon us, the time for hosting events and breathing life into your residential building has never been better. An important part of life is the time you spend experiencing food and fun activities with those around you. It is without a doubt an important thing to consider for the residents in your apartment building, and can indeed be a deciding factor for resident retention. Community building events not only provide a social platform for your neighbors to interact, but also provide an opportunity for new residents to meet their new neighbors, or even introduce older neighbors that have never had a prior chance to meet.

Everything You Need To Know About Listing Vacant Properties On Airbnb

Airbnb has come a long way since their 2008 humble beginnings. Many travelers are now preferring to stay in someone’s home as opposed to a hotel, and for a few good reasons. One of which is that it is typically less expensive. At an average cost of $65 per night, you just can’t beat that! While cost effectiveness is undoubtedly a big deciding factor, the level of comfort is often considered to be better in someone’s home over the generic hotel room.

Five Tips For Creating Welcome Paperwork

Paperwork can be difficult to put together for the new people leasing your apartment. In order to provide the best customer service and make sure you consistently receive good reviews, the initial paperwork can play a large role in how that plays out. Of course there are certain rules, regulations, and policies that need to be conveyed, but you also want them to feel comfortable while moving into their new home. Here are 5 solid tips to help you achieve the best results:

Why You Should Consider Solar For Your Apartment Building

You have probably seen the growing concern for protecting the environment, ways to “go green”, and the increasing amount of clean energy options, but you may not have considered how some of these could benefit you and your business. Solar energy being the most applicable option for individuals and business owners to produce their own clean energy is on the rise, but many are still concerned about whether or not it would be a good investment. In most cases, they can be a good investment, but the return on investment might seem too far in the future for it to be considered.

Four Ways To Ensure You Pick Quality Residents

The long-term reputation and profitability of your rental depends on the quality of your residents. However, even doing your due diligence, you can still end up with bad renters sometimes. It is crucial that you make sure that you have a good screening process in place, so that you get qualified rental candidates. Here are five ways to ensure that you are picking the best people to rent your vacancies:

Unusual Amenities To Consider Offering Your Renters

With the increase of renters, the real estate market has become more competitive. To give your rental an edge, you should consider upgrading your features. A great way to give your rental an edge in the market is to offer unique amenities, rather than the standards that everyone offers. Here are some ideas for unusual amenities to consider that will attract new residents and increase retention.

5 Tips For Simplifying Rent Week

Rent week is easily the busiest week for property managers. They have to manage multiple residents, do a lot of accounting, and make sure everything gets paid on time. Every month when rent week comes it can be incredibly hectic and make even the most organized property manager want to pull out their hair. However, there are ways to simplify rent week, so that both you and your residents have an easier time. Here are five tips that can help you make rent week simpler for everyone involved:

Spring Cleaning Your Rental

Spring has finally arrived and with the end of the harsh winter weather, it’s time to do some Spring cleaning. Spring cleaning can help improve your property, increase retention, and help attract new renters. So it’s a great idea to get your staff together and plan your Spring cleaning. Here are some things to consider add to your Spring cleaning list:

Why Your Community Needs Instagram And How You Can Manage It

Navigating the wide world of social media can be pretty overwhelming even for the most tech-savvy property management team, but it’s true that there are some outlets you should be paying more mind to than others. For marketing a community and community brand, Instagram can be an invaluable resource, and we at OccupancySolutions.com are here to help you to master it.

Curb Appeal Tips For Every Season

Whether you’re trying to attract local in-person attention, or take your community online, one thing is for certain – curb appeal matters. Consider curb appeal your shot at making a great first impression, and we all know how important first impressions really are. No matter the season or the weather in your particular area, impressive curb appeal is possible in every season. Whether it’s a lazy hot summer day or an icy winter evening, you can always make your community shine. At OccupancySolutions.com, we want to take a look at curb appeal for all seasons of the year, and provide a few pointers on how you can make your community look its best all year round.

Retaining Residents Through A Rent Increase

Rent increases happen, and it’s not something that is truly pleasing to anyone. As the costs of goods and services go up, leases need to be amended to reflect recouping the expenses, and it’s not something that makes residents happy to learn that it’s going to be more expensive to remain in your community. That being said, increasing rent doesn’t need to be a death sentence to your resident retention, and it all has to do with how you approach the rent increase and communicate it to those renting with you.

Managing Your Community Social Media To Retain Residents And Attract New Ones

In today’s modern age, businesses can’t afford to ignore social media, and this includes property management teams. Using social media effectively can allow you to better retain your current residents while attracting fresh and new attention, but knowing just what effectively entails is a big part of the equation. At Occupancy Solutions, we want to clear some of the fog surrounding proper use of social media for resident retention and attracting new audiences, in order to make working social media into your marketing and management strategy a breeze.

5 Tips For Hosting A Community Event

A great way to bring your community together and retain residents is with community events. Whether these events are meetings to keep up to date with community goings-on, or filled with fun family activities, these gatherings bring together property management staff, maintenance, and community members all at once to connect and get to know each other. At Occupancy Solutions, we know that one of the toughest parts of throwing a community event is getting the word out and getting everyone to show up, so we have 5 tips you can use for a successful hosting experience:

Lowering Your Vacancy With Curb Appeal

If you have some vacant residences in your community, chances are you want to fill them up and do so quickly. Curb appeal can be your best weapon against resident vacancies, and attract all sort of valued attention to your community and your brand. At Occupancy Solutions, we want to break down a few curb appeal tips that can attract residents into wanting to know a whole lot more about the lifestyle you offer:

5 Steps To Retaining Residents After Their First Year

When it comes to resident retention, that first year and first lease is important. Initial impressions mean a great deal, and you can really make or break retaining a resident depending on yours. At Occupancy Solutions, we want to help property management teams make the best impact possible during this first lease period, and retain their residents for many more years to come. The 5 steps to retaining residents using their first year experience are:

Using Social Media To Master Resident Retention

Social media works wonders to advertise and market for your community, bringing new prospective residents in, but what about resident retention? Well, in terms of resident retention, social media used well can be one of your most valuable tools in keeping your residents happy and coming back lease after lease. How do you go about using social media for resident retention? It’s actually quite simple and it all starts with open and frequent communication.