Ok the kit arrived. Perf! Now what?
There are multiple strategies that you can execute here. Check out the bullet points below and figure out which applies most to your situation. At any time you can change your strategy or implement multiple strategies at once.
- Do you have a model apartment?
If the answer is no, you have a major problem on your hands as far as online marketing is concerned. Your vacant apartment photos are competing online with staged apartment homes. Staged homes rent faster and for more money than vacant homes according to a National Association of REALTORS 2021 study. It found that 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. This study was specific to the buying and selling of homes but the information translates to rentals as well. In this case, it is recommended to set up the mini model kit in all vacant units. Record a walk thru video, posting it to the YouTube channel you create for your property and take photos that you use to market the property on forrent.com, craigslist, apartments.com Facebook ads, whatever avenue you choose. Be sure to teach your sales team to direct prospects to the link for the YouTube video in their follow up email after the tour. Most prospects do not remember all the apartments they toured at the end of the day. Sending the link will allow them to tour again from the comfort of home and remember how super cute your property was!
- Do you have a lot of one type of floor plan that is not the same as the model apartment?
In this scenario let’s say your permanent model apartment is a one bedroom but you have 8 two bedrooms available. Why waste the time of your prospect looking at the one bedroom model if that isn’t what you are trying to lease? Just because it is decorated? Honey, let us save you some time. Take the mini model kit, install it in the two bedroom apartment. Show that one off. You will also want your team to photograph the two bedroom apartment once installed so those photos can be used online to market the two bedrooms you are actually needing to rent. Have someone grab a video of the unit while they are in there too, you can thank us later!
- Do you have one vacant apartment that has really high DOM (days on market)?
Maybe this apartment is a terrace level, third floor, parking lot view, not updated, there are many reasons prospects might not be attracted to a particular apartment. Generally speaking, mini modeling this apartment could get it leased fast! Better yet, instead of offering a concession, let the prospect know they can keep the decorations when they lease the apartment! We have seen this work in the past! It is not advised to photograph this apartment and market it online if there is something noticeably challenging like lack of natural light for example. You could have your team send photos of this particular apartment staged if they are quoting this one though. People love having photos of their new place to look at prior to move in day!
As mentioned above, be sure to take photos of the apartments when the kit is installed. As the kit moves from vacant to vacant, the team is building a library of photos that can be used to show off staged apartments that are not the permanent model apartment. Have one place on your shared network drive where all these photos can be stored by floor plan and renovation type if applicable. Use these photos to market your property online. Use these photos to lease apartments sight unseen. Train your team to show off the apartments using these tools in follow up emails.
It is also a great idea to create a YouTube channel for your property if you have not already done so post COVID. Stage every one of your floor plans and renovation types for a recorded video tour. Be sure to make your YouTube videos public and have your leasing team copy and paste the link to the YouTube video tour, along with the photos of the mini modeled apartment and of course the floor plan in their follow up emails.
Using this advice will not only help you lease the apartments you have too many of that have been sitting for too long but will also help you to secure leases on the exact apartments the prospective renter toured!