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.


How Do You Ensure Tenant Safety On Your Property?

By law, it is your responsibility to keep your rental property as safe as possible for tenants. In the event that your tenant is injured on your rental property, you may face lawsuits or criminal charges. Here are a few tips that will help you...

The Pros Of Using Social Media To Market Your Community

For community management teams, social media is a marketing tool that one can no longer afford to live without. More and more, people are going to the internet first to search for new communities, and one of the first places they often go is on their social media platforms to scope out a new place that may be a good fit for them. For management teams, adapting to this new technology may seem daunting, but there are many pros they should consider before deciding that social media may not be for them. The pros of using social media to market for your community include:

Staging Residences For New Summer Leases

Spring and summer are the two most popular times of year when folks are looking for a new community to join. In the fall, many are preparing for winter, and in the winter, many find that the weather makes a move more difficult, so they wait for spring and summer to have the easiest transition to a new space possible.

Quality Over Quantity When Marketing With Instagram

600,000,000 users are currently active on Instagram worldwide, and this platform is becoming one of the fastest growing social media platforms out there today. For property management teams, this means that there is a resource out there that you can’t afford to pass up, but being overwhelmed by the idea of branching out into Instagram for your brand is understandable.

How Can I Build My Property Brand?

Your brand is your symbol, it’s what creates the entire feel and atmosphere that surrounds your community and what people think of when they think of you. For this reason, it’s undoubtedly important to put a lot of care into creating your community or property brand, but that doesn’t mean it needs to be an overwhelming task.

5 Tips For Using Facebook To Market Your Community Socially

In today’s modern social media age, no brand can afford to go without Facebook. When prospective residents, customers, patrons, or any interested party looks up a brand on the internet, they’ll often look for a website, reviews, an a Facebook page as their online base of what the brand is all about.

The Importance Of Human Resource Training

The Importance of Human Resource Training Being the most important element of any organization, the training for Human Resources is of absolute importance and necessity. From hiring new employees to handling the exit interviews, Human resources...

How To Answer Those Commonly Asked Tricky Questions

Interviews with potential residents are really two-sided. You are making sure that they will be good renters, follow the rules of your community, and can afford the rent. They are making sure that your rental is a place they want to call home. The interview process is crucial and sometimes potential renters will ask some pretty tricky questions. Here is a guide for how to answer those tough ones that you are commonly asked.

Five Classic Listing Photos Mistakes To Avoid

Your listing photography is the first introduction to your potential renters. The very first thing anyone does before even reading the details of the space is look at the photos. If the photos aren’t good, they’ll quickly move on to the next listing without even giving your rental a chance. So it is essential that you offer up great listing photography to engage potential renters and entice them to learn more. There are some pretty common mistakes property managers make when creating listing photography, here are the five most classic mistakes to avoid:

Five Essential Tips For Staging A Rental Property

First impressions can have a lasting impact, so it is essential that when you are ready to show your rentals, that you stage them properly. Staging can make or break the interest in a space, so you need to be smart about how you set things up. Also, you want to make sure that you stage things cost effectively and spend money where it has the most impact. Here are five essential tips for staging a rental property to attract new occupants.

Five Cost Effective Ways To Attract New Renters

Your primary role as a property manager is to fill your vacancies with new renters. This can become a costly prospect if you are not careful between running advertisements and marketing materials. So to keep cost down but still attract new residents, here are five really cost-effective ways to attract potential renters:

Four Cheap Technology Upgrades To Attract New Renters

Technology is moving at an incredibly rapid pace, and for smart property managers looking to keep up with the times, we all need to upgrade our technology. However, a lot of people shy away from technology upgrades because of the default assumption that they will all be incredibly expensive. Fortunately, there are plenty of small technology upgrades that are very attractive to renters but are also incredibly affordable for property managers. Here are four cheap technologies to consider adding to your rentals:

Three Helpful Time Management Tips For Property Managers

When you are a property manager, whether for a small property or a large multi-location franchise, you are always juggling a ton of balls. Many times what seems like it should be a quick task can take up most of your day. Other times there is an emergency situation so you can get to your priority tasks in time. So it’s really important that learn some really great time saving and time management skills in order to ensure you never drop one of the balls you are juggling. Here are three super helpful tips to save you time: