Welcome to the official blog of Block Real Estate Services, LLC (BRES). BRES seeks to offer insight and news concerning commercial real estate, financial investments, construction and development of the 212 communities we serve locally and nationally.

Thursday, January 29, 2015

Marketing to Gen Y Renters

Marketing to Millennials with a composed message and voice is key! 

Many young Millennials are on the threshold of saturating the renters market looking for their first post college apartment. Chances are that your multifamily community will be the ideal property for them. However, the old marketing techniques need not apply. These young hip millennials don't want to be marketed to they want to be part of the conversation. So it's crucial that you learn to speak their language and get involved in the way they communicate. Here are 5 tips that help you capture of attention of the ad skeptical Millennial:

1. Search Engines: Millennials rely heavily on search engine reviews on sites like Google, Bing and Yahoo. Making sure you're online friendly and publishing content regularly is key to establishing search engine optimization (SEO) tactics that allow you to reach the top when users are searching for your multifamily community.

2. Offer Technology: Milllennial's are accustom to online interactions, and having your multifamily community offer a variety of technological services attracts residents. We're not just talking about having unlimited WiFi. Residents are looking for cutting edge technology such as electronic apartment keys, docking stations, apps, and user friendly websites that allow tenants to request maintenance along with other services.

3. Offer Unique Living: Have your multifamily community  appeal to a wide variety of people with a range of budgets.  Offering unique living experiences can be done with a variety of upgrades. Consider offering upgrade packages that include cable, high-speed Internet and customized wall paint or other services.

4. Host Events: Hosting tenant appreciation events like a ice cream social or pool party helps the feeling of community. Offering these events makes your tenants feel at home, happy and engaged. Offering free incentives during these events like a pizza party or gift card will assist in building the communities reputation while attracting new residents and retaining current ones.

5. Community Ambassadors: By offering excellent customer service and outstanding care and you'll see current residents' show off their community. If your tenants love your community chances are they will talk about it. Give them a reason to talk about it even more and use referrals to your advantage! Making a small decrease in rent for every referral can be a great incentive for Millennials to market your community for you!

Finding loyal tenants starts with excellent customer service and community outreach. When you invest in a variety of physical and character upgrades your customers will help you attract the Millennials in your market and keep them coming back. Click here to see what we've done with WaterCrest at City Center and future plans for our newest mixed-use development, CityPlace.

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