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.

 

3 Tips For Closing On Those Internet Leads

With a well-built website and a good social media reputation, community management teams can expect to receive more internet leads. Without closing techniques, however, management teams can’t expect to relate to these internet leads in a way that leads to coveted leases and closings. At OccupancySolutions.com, we want to give you the tools you need to convert your online marketing into the closings you want for your community. 3 tips for closing on those internet leads are:

5 Questions to Ask Your Property Manager

When trusting your most valuable assets and property to another person, there are some important questions you'll want to go over with them. This article will cover five things you'll want to ask when interviewing your property...

5 Staging Mistakes Community Management Should Avoid

If you have a show residence that prospective community members can visit while on a tour, you want to make sure that residence is staged in just a way that maximizes its potential. This residence will provide the first impression to touring prospects, and give them a way to envision the residence of their own. Because you will want the best first impression, there are 5 big staging mistakes that community management should always avoid:

Social Media Is Your Best Low To No Cost Marketing Tool

Managing your marketing budget can be a tricky thing. Naturally, you want your community to have maximum visibility, but you also don’t want to invest too much and cause your budget to barely even out. Luckily, today’s modern internet age has offered a shiny, new, and invaluable resource to community management teams looking to maximize their marketing for a minimal investment, and that tool is social media. Billions of people sign into their Instagram, Twitter, and Facebook accounts each and every day, making these platforms the places where the public chooses to “hang out” while online. Using these platforms for marketing purposes is much like placing your ad front and center in the busiest square in town.

Tips For Screening Potential Tenants

Renting your property is a big step, and you need to make sure you screen potential tenants to avoid a lot of mishaps. These tips will help you find your ideal tenant, and save money in unnecessary court fees. 1. Proof of Identity Is A...

5 Traits That Encourage Resident Retention

High resident retention shows that your community management team is one that keeps residents happy and a priority, and some community management team traits can help to keep residents leasing over and over again. 5 traits that encourage resident retention are:

Using Internet Visibility To Outsell Your Competition

Long gone are the days of scouring in-person classified ads when someone is looking for a new place to call home. Potential residents aren’t picking up the local papers as often anymore, and instead, they’re taking to the internet as an all-knowing, all-seeing, and all reviewed resource to lead them into their new community. Online, they can find the new community of their dreams from the comfort of their own home and feel confident in their decision to visit by also researching reviews and first-hand experiences. What this means for today’s community management teams is this – it’s never been more important to be visible on the internet.

5 Ideas For Summertime Community Activities

Community activities help to build that organic sense of true community that is so important to management and residents alike. Summertime is the perfect time to embrace the power of community activities, and 5 perfect activity ideas for this season include:

How To Overcome 3 Of The Most Common Leasing Objections

Even when visits and tours seem to go well, objections are like to come up between management and potential new residents. With the right tools in overcoming these objections, they can be viewed as speedbumps, rather than high hurdles, and they can be managed to leave both the community management team and the prospective resident happy in their resolution. We at OccupancySolutions.com want to outline a few of these common objections and how you can work them out to come to a pleasing solution for you both:

5 Tips On Hosting A Summertime Community Cookout

As summertime rolls around for your community, it’s time to start thinking about the activities you could plan to bring your community together. A strong sense of true community builds loyalty and spirit, and there is no better way to organically grow this feeling than with shared fun activities that all community members are invited to participate in. For the summer months, a community-wide cookout for residents and management alike is a great way to build this relationship, and 5 tips on hosting a summertime community cookout are:

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.