Industry Insights

Win and Keep Residents with Community Beautification

Mar 23, 2018 12:36:47 PM / by RenovationsPlus

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This year, apartment supply is expected to grow 20%, with demand still going strong.1 To compete in this market, product differentiation is key. As spring approaches, community beautification is a timely and effective way to make your property stand out.

Digital Curb Appeal Impacts Occupancy

Apartment hunting doesn’t begin at the tour; it happens online. Prospective renters now read or review approximately seven different platforms to gather information on housing prior to making a move.1 Community beautification is one step to improve online reputation management. Make a great first impression by posting and sharing high-quality photos and videos of your property.

Ever heard the saying “good news travels fast”? Your apartment ratings and reviews are also part of online reputation management. Encourage your residents to write positive reviews of their experience - you’ll reap the benefits from increased occupancy rates, and they’ll feel appreciated that you value their feedback.

Planning Your Beautification Project

When strategically implemented, community beautification can significantly differentiate your property from the competition.

  •      Trending Outdoor Amenities

It’s important for residents to see multifamily homes as “hip and not has-been”.2 Residents also value a feeling of community. Create more spaces to gather and be outside. Diversified amenities like playgrounds, dog runs, outdoor fitness areas, or picnic areas can make your property more appealing and offer a high return on investment.3

     Boosting That Curb Appeal

Curb appeal is only a small amount of your property’s value, but it has a big influence on residents’ rental decisions and satisfaction. As part of your property’s first impression both online and on-property, curb appeal can be a powerful marketing tool. Here are a few considerations.

     Prune and Plant

MPM-6425_RenovationsPlus_Heroes_HubSpot_650x240_Beautification.jpgA little landscaping can go a long way. Keep your green spaces fresh and beautiful by planting trees and bushes. Also consider brightly colored flowers to attract the eye. Keep landscaping in tip-top shape by removing debris and pruning trees and bushes.

     Update Exterior Lighting

Upgrading your exterior lighting not only makes a difference for your energy efficiency, it aids in nighttime curb appeal. Strategically placed and properly working lighting adds safety and security for the community. Make it easy for residents to gather and move around the community at all times, including after dark.

  •      Clean It Up

Harsh winter weather can take its toll on your property’s curb appeal. Stay ahead of property maintenance by cleaning debris from gutters, picking up trash and pet waste, pressure washing steps, driveways, and sidewalks, and repairing or replacing broken furnishings and cracks in walkways, paint, windows, and doors.

 Eyes on the Prize

If you’re looking to drive occupancy and maximize your rental income this spring, consider community beautification. Both online and on-property, you’re sure to see positive results!


Sources:

  1. Multifamily Executive, 2018
  2. Rentlytics, 2014
  3. NAA, 2015

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