Sometimes it can be tricky to keep up with the latest trends in multifamily. However, doing so is worth the effort.
Here are three reasons why you should remain savvy when it comes to apartment management trends:
Knowing Your Customers is Crucial
So many lost business opportunities can come from simply misunderstanding the customer’s needs. While price and space are the biggest factors being looked for, amenities can be the difference between business for you or a competitor. A prospective renter might like the price for the square footage of an apartment but could pass it up in favor of another place with in-unit washers and dryers. Maintaining an eye towards what is more sought after is a reliable way to keep potential renters interested.
You Can Plan For The Future
Trends in the apartment industry, unlike in fashion, are hardly cyclical. However, knowing what is popular right now can help you prepare for the future. For instance, one of the top desired amenities among renters is a gym or spa. With this in mind, you can start planning on adding these features to your amenity list as well as other wellness perks.
Word of Mouth
Being the first in the area to incorporate a new technology or offer an amenity is a surefire way to attract interest. Sites like Yelp make it easier than ever for a renter to share their opinion of an apartment. Many potential renters look up online reviews as part of the process of researching a property. Often, it is the first thing they do. Seeing that a property is the only one nearby to offer a pool and a brand-new spa will put it at the top of the list and make it stick out in a person’s mind.
Are you interested in staying current with the latest multifamily trends? Contact Marquette Management today to learn more.Back to all posts