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Fill Vacancies Faster with These 4 Tips

PROPERTY MANAGEMENT

One of the biggest challenges property managers of multifamily residential communities face is keeping units filled. Vacancies can drain profits, especially if the units remain empty for an extended period of time. The key is to not only find good residents, but to keep them for the long haul. 

Here are some tips to help you fill those vacancies and find people that will stick around for a while.

1. Get Creative on Social Media

Social media is an excellent venue for advertising just about anything. You can use platforms like Facebook, Twitter, and Instagram to attract prospective residents in a number of ways. For instance, post on your social media feeds regularly about all available units as well as any upcoming community-sponsored events that you may be having. Encourage engagement by answering any questions, asking for input, and responding to feedback. Run contests or host games on Instagram to attract followers, and help prospective residents find you by using appropriate and relevant hashtags.

2. Make Good Use of SEO

People who are looking for a place to live will typically turn to the internet to start their search, and they'll typically use specific keywords to find what they need. This typically involves keywords that include "apartment," "home," or "condo," followed by the location. So, for instance, a keyword search of "condos in Baltimore" will turn up exactly that. Consider investing in an SEO (search engine optimization) campaign that will help ensure that your residence pops up when people search for location-specific keywords like these.

3. Sponsor a Community Event

There are always community events happening everywhere, whether they're walk-a-thons, youth baseball games, or community craft sales. You can get your name out there by being a sponsor at any one of these events. Not only that, but you will also be portrayed as a supportive member of the community for potential residents who may be in attendance. Associating yourself and your community with charitable causes can be a good thing for you and your complex. If you can manage to involve a few of your current residents in these events, you can show others that your own complex has a real family-oriented, community-based atmosphere that will help attract those who seek out such an environment.

4. Highlight an Attractive Lifestyle

Potential residents want to make sure that the place they may consider to be their future home is not just in good shape and professionally operated, but they also want to know that the lifestyle it can offer is a positive and attractive one. Part of creating an upscale lifestyle is to ensure that the property offers amenities for which residents would be happy to pay, such as convenient premium laundry services. While you could always provide on-site laundry facilities, providing residents with the option to have their laundry done for them can be an even better proposition.