Fewer renters are looking to make a move to a new multifamily residence between October and April, making it crucial for property managers to stand out.
Showcasing smart technology that enhances the living experience is an effective approach — and that starts as soon as prospective residents ask for a tour.
We’ve compiled a comprehensive list of tips and tricks to get you started on improving rental appeal to families on the move.
5 tips for attracting families to your multifamily community this fall
1. Provide an easy touring process
Families often have extremely tight schedules, especially given they may be factoring in things like children’s bedtimes or when they can arrange a babysitter to view a property. It is essential to offer your prospective residents an easy touring process that can accommodate various lifestyles.
Start by automating your leasing communications to allow prospective residents to efficiently book tours at their convenience. Automated leasing systems with tools like CheckpointID provide quick identity verification, reducing the risk of losing prospects due to booking delays (4 in 10 have admitted to losing interest after struggling to book a rental tour).
Self-guided tour technology powered by keyless access allows you to offer interested parties tour slots beyond the hours of a leasing agent’s typical work hours, without requiring on-site staff presence. For families, offering extended touring times could be the difference between them choosing to view your property and going elsewhere.
Self-guided tours also enable prospects to tour at their own pace, which is particularly beneficial for those bringing little ones along.
2. Appeal to the tech trend
With 82% of renters desiring at least one smart home tech device in their homes, multifamily communities offering residents smart devices hold a competitive edge.
If your property already features smart technology, be sure to emphasize this in rental listings to stand out among competitors and maximize interest.
If your property lacks smart home technology, consider retrofit solutions such as smart locks which can be easily and quickly installed to pre-existing locks — so you can attract tech-seeking residents as soon as possible.
3. Provide cost-saving opportunities
Months of steady inflation across the US have led to an increase in the cost of living. Because of this, many renters, especially those with families, will be looking for cost-saving opportunities when considering new rental properties.
Property managers can install energy and water saving solutions, such as smart thermostats, HVAC management systems, and water sensors, to offer residents lower bills and the assurance that costs are continually monitored for efficiency. Heating and cooling technology, for example, has been proven to reduce energy bills by up to 23%.
4. Prove safety and security
Safety is top of mind for families and their loved ones. It’s vital to show prospective residents how you keep your multifamily community safe and secure.
If your building uses access controls at building entrances, in communal areas, and smart locks for each apartment, be sure to communicate this in rental listings. 8 in 10 US residents say technology, like smart locks, gives them reassurance that a property is safe for them and their loved ones. This is likely because access systems eliminate the risk of keys falling into the wrong hands and, instead, use keycodes for seamless entry, benefitting residents, visitors, and employees alike.
5. Improve the resident experience
To appeal to prospective residents, multifamily communities must prioritize convenience and comfort.
All the steps you can take above involve IoT-connected devices that provide residents with increased control and convenience. Smart thermostats, for example, allow residents to access and change their thermostat settings at the touch of a button using an app, from anywhere. Smart locks are also a powerful way of creating a modern living experience, giving residents the ability to grant access to visitors at any time and remotely check if their apartment is secure for improved peace of mind.
Now is the time for property managers to ensure their communities meet the needs of prospective residents and stand out to families on the move this fall. These five simple tips can improve your property visibility, appeal, retention, and attract new residents.
For more information on multifamily tech solutions, listen to the Apartments on the Go podcast, featuring our Director of Multifamily Mike Branam.