To get your vacant apartments rented, you're going to need to reach as many people as you can. Knowing who you're targeting as new residents and what your property has to offer is the first step to preparing for a big marketing blitz. If you execute a few options effectively, you may luck up by having more interest in your property than you have available apartments.
Hire a professional to photograph your space. A new trend for large complexes are virtual 3D tours that show a panoramic video of the property and apartment models. This allows potential residents to see what they like before scheduling a walk-through appointment. Post links to your site and photo gallery through your social media networks. Offer an online special to any leasee who submits a preliminary application and fee from your site.
Pitch Your Tenants
For a multi-property complex, use your current tenants for word-of-mouth advertising to bring in new residents. Offer a discount of $100 off their next month's rent. Give a free month rent, if you can afford it, when they refer a friend who signs a lease. Send notices of the promotion in your complex's monthly newsletter a few months before you're ready to secure the leases so they have time to think of potential renters.
Offer moving expense assistance by giving new tenants money to move into your apartment. Consider an amount such as $300 to be used for fees and expenses such as a rental truck, boxes or a cable television deposit. Word your promotion on flyers to attract interest by saying "FREE moving truck," or "We'll pay the electricity bill at the old place when you sign a lease with us!"
Friends In High Places
Cross-promote your vacancies with area businesses. Ask them to distribute information to their employees. Work with realty firms that have clients who need rental units, and, in exchange, refer your tenants who are looking to buy homes. Retailers such as your local grocer may allow you to post brochures; furniture companies that are eager to stock empty apartments can promote your vacancies.
Host A Party
Consider the type of residents you're looking to secure. Host a soiree at your property near the pool to attract college students. To entice sports fans, arrange game day central in a large recreational room to create a sense of entertainment for potential residents. Invite potentials who have expressed interest in your property but have not committed just yet. The key to entertaining at your property is to show residents that they can enjoy leisure time there.
- Photo Credit Jupiterimages/Creatas/Getty Images