Tip 5.
Location
In some markets prospects have drive times from work of more than more than 20+ miles to visit and live in a apartment community they trust. One of the reasons Reviews are so important is that prospects will inquire based on reviews and how far they have to drive to visit. Do you know your drive time? Do you include a link or actual reviews in your elead responses?
Marketing Tip: Conquest major employers from areas outside your primary market based on zip code and city.
Tip 5.
Location
In some markets prospects have drive times from work of more than more than 20+ miles to visit and live in a apartment community they trust. One of the reasons Reviews are so important is that prospects will inquire based on reviews and how far they have to drive to visit. Do you know your drive time? Do you include a link or actual reviews in your elead responses?
Marketing Tip: Conquest major employers from areas outside your primary market based on zip code and city.
Hotjar is one of the leading “heatmap analytics” solutions (others include Clicktale and Crazy Egg). Heatmaps are visual representations of how visitors interact with your site and help you understand what visitors are looking for, what they care about, and how well your site meets their expectations. Many marketers find this visual approach to website analytics is more intuitive and easier to understand than the complex charts and graphs reported by the more conventional website analytics tools.
Evolving beyond simply presenting heatmaps, Hotjar now includes a wide range of analytical tools, including individual visitor session recordings (allowing you to watch everything a visitor did while using your site, including mouse clicks/movements, page scrolling, and much more), tracking conversion funnels, and form performance analysis. Hotjar also includes easy-to-use tools to proactively solicit feedback from your site visitors via feedback forms, polls, and surveys.
Hotjar offers a free basic offering, with paid plans starting at $29/month for sites logging up to 10,000 daily pageviews. To get started, click here.
Hotjar is one of the leading “heatmap analytics” solutions (others include Clicktale and Crazy Egg). Heatmaps are visual representations of how visitors interact with your site and help you understand what visitors are looking for, what they care about, and how well your site meets their expectations. Many marketers find this visual approach to website analytics is more intuitive and easier to understand than the complex charts and graphs reported by the more conventional website analytics tools.
Evolving beyond simply presenting heatmaps, Hotjar now includes a wide range of analytical tools, including individual visitor session recordings (allowing you to watch everything a visitor did while using your site, including mouse clicks/movements, page scrolling, and much more), tracking conversion funnels, and form performance analysis. Hotjar also includes easy-to-use tools to proactively solicit feedback from your site visitors via feedback forms, polls, and surveys.
Hotjar offers a free basic offering, with paid plans starting at $29/month for sites logging up to 10,000 daily pageviews. To get started, click here.
Just like our year has four seasons during which temperatures rise and fall, the real estate market has four general cycles during which prices rise and fall; but while spring, summer, fall, and winter last only a few months, cycles in the real estate market last longer—seven to ten years. Keep in mind that these cycles are normal functions of dynamic markets and are affected by factors within those markets.
Of the four market cycles, two represent appreciating markets and two represent declining markets. The two appreciating market cycles are called Recovery and Expansion. The two declining market cycles are called Hyper-supply and Recession. The main characteristics driving market cycles are vacancy rates, new construction, employment growth and rental rate growth. Now, let’s take a closer look at the four general market cycles and what goes on in each of them.
To read the full report from Irr visit Irr.com
Expansion
Expansion is an exciting market cycle because it’s where the economy starts to get rolling again. You’ll start to see vacancy rates decreasing and a little new construction at first with a great deal more toward the end of the cycle. Absorption rates pick up as more people go back to work or upgrade jobs, and the pickup in income brings moderate to high growth rates in rents. Property values start increasing until the end of the cycle where they’ll peak. Investors want to buy at the beginning or middle of this cycle and sell toward the end (when property values peak) before the market starts declining again. The country experienced a lot of this in 2006-07 when property values hit their peak. Those who sold during those years made a killing while those who bought at the peak and overpaid will take years for their properties to get back to the value at which they purchased.
Hypersupply
The market cycle following Expansion is called Hypersupply, and it happens when the market gets oversupplied during expansion while job growth slows down. Due to the amount of new construction, supply outweighs demand, and vacancy rates begin to increase again. There is still new construction happening, but absorption of apartments starts to really slow down. Employment also starts to slow as companies have already done their major expansions. Rental rates may still be growing, but at a pace between a crawl and a stop. Investors don’t want to buy during Hypersupply unless it’s for major cash flow that can withstand prices going down and weathering the storm to follow; and should be very careful to sell marginal properties before the market starts to decline more rapidly.
Recession
Recession is the last stage of the market cycle; and it’s the cycle that most of the country; and at the time this book is being written, it’s the cycle that most of the US and the world have experienced over the last 4-5 years. During a recession, vacancy rates increase as jobs and income decline. New construction slows to a halt and fewer apartments or houses are absorbed. You’ll see low to negative growth in employment as salaries level off or companies even implement layoffs. With the general economy in a slump, see many more concessions offered and rental rates go down with fewer people willing to pay as much for apartments. In this phase, investors want to focus on buying quality properties that provide strong cash flow. While your value will probably not increase anytime soon, you can still find properties that will provide a strong cash flow again.
Recovery
The Recovery market cycle starts at the point that most people call the “bottoming of the market”—the moment when the market stops declining and slowly starts to level off or grow again. During a recovery, you’ll see vacancy rates stabilize and actually start to slowly decrease, due largely to very low or virtually no new construction. With little new supply coming on the market, property occupancy rates start to stabilize. There is usually low employment growth, but the decrease in jobs has ended. You’ll see very low rental rate growth and it may even go down a little. The good thing about this market is that it signals the end of a decline. This is a great time for investors to buy properties for cash flow; and when the market really improves you’ll see major jumps in rental rates, occupancy, and value. And with that recovery comes the opportunity to raise rents.
By Tami L. Siewruk
THE BOOK: This comprehensive program starts with thedefinitive book on raising rents, eliminating concessions and selling rent increases in multifamily communities, sourced from over 30 years of multifamily experience and across-the-board expertise. From presenting financial terms in a way that you can finally wrap your brain around all the way to putting the finishing touch on a rent-raising renewal, this book will fully reveal the when, where, and how behind successfully raising rents, eliminating concessions and selling rent increases and will equip you to immediately begin achieving record revenues for your company and community! All for ONLY $49!
Just like our year has four seasons during which temperatures rise and fall, the real estate market has four general cycles during which prices rise and fall; but while spring, summer, fall, and winter last only a few months, cycles in the real estate market last longer—seven to ten years. Keep in mind that these cycles are normal functions of dynamic markets and are affected by factors within those markets.
Of the four market cycles, two represent appreciating markets and two represent declining markets. The two appreciating market cycles are called Recovery and Expansion. The two declining market cycles are called Hyper-supply and Recession. The main characteristics driving market cycles are vacancy rates, new construction, employment growth and rental rate growth. Now, let’s take a closer look at the four general market cycles and what goes on in each of them.
To read the full report from Irr visit Irr.com
Expansion
Expansion is an exciting market cycle because it’s where the economy starts to get rolling again. You’ll start to see vacancy rates decreasing and a little new construction at first with a great deal more toward the end of the cycle. Absorption rates pick up as more people go back to work or upgrade jobs, and the pickup in income brings moderate to high growth rates in rents. Property values start increasing until the end of the cycle where they’ll peak. Investors want to buy at the beginning or middle of this cycle and sell toward the end (when property values peak) before the market starts declining again. The country experienced a lot of this in 2006-07 when property values hit their peak. Those who sold during those years made a killing while those who bought at the peak and overpaid will take years for their properties to get back to the value at which they purchased.
Hypersupply
The market cycle following Expansion is called Hypersupply, and it happens when the market gets oversupplied during expansion while job growth slows down. Due to the amount of new construction, supply outweighs demand, and vacancy rates begin to increase again. There is still new construction happening, but absorption of apartments starts to really slow down. Employment also starts to slow as companies have already done their major expansions. Rental rates may still be growing, but at a pace between a crawl and a stop. Investors don’t want to buy during Hypersupply unless it’s for major cash flow that can withstand prices going down and weathering the storm to follow; and should be very careful to sell marginal properties before the market starts to decline more rapidly.
Recession
Recession is the last stage of the market cycle; and it’s the cycle that most of the country; and at the time this book is being written, it’s the cycle that most of the US and the world have experienced over the last 4-5 years. During a recession, vacancy rates increase as jobs and income decline. New construction slows to a halt and fewer apartments or houses are absorbed. You’ll see low to negative growth in employment as salaries level off or companies even implement layoffs. With the general economy in a slump, see many more concessions offered and rental rates go down with fewer people willing to pay as much for apartments. In this phase, investors want to focus on buying quality properties that provide strong cash flow. While your value will probably not increase anytime soon, you can still find properties that will provide a strong cash flow again.
Recovery
The Recovery market cycle starts at the point that most people call the “bottoming of the market”—the moment when the market stops declining and slowly starts to level off or grow again. During a recovery, you’ll see vacancy rates stabilize and actually start to slowly decrease, due largely to very low or virtually no new construction. With little new supply coming on the market, property occupancy rates start to stabilize. There is usually low employment growth, but the decrease in jobs has ended. You’ll see very low rental rate growth and it may even go down a little. The good thing about this market is that it signals the end of a decline. This is a great time for investors to buy properties for cash flow; and when the market really improves you’ll see major jumps in rental rates, occupancy, and value. And with that recovery comes the opportunity to raise rents.
By Tami L. Siewruk
THE BOOK: This comprehensive program starts with thedefinitive book on raising rents, eliminating concessions and selling rent increases in multifamily communities, sourced from over 30 years of multifamily experience and across-the-board expertise. From presenting financial terms in a way that you can finally wrap your brain around all the way to putting the finishing touch on a rent-raising renewal, this book will fully reveal the when, where, and how behind successfully raising rents, eliminating concessions and selling rent increases and will equip you to immediately begin achieving record revenues for your company and community! All for ONLY $49!
SEO HUGE news and means a lot of work! Google has recently updated the way that they track “vicinities,” or locations, and in doing so, locations have been completely changed in their back end and how they serve us this data. Because of this, we have to re-map these locations in our systems. Google no longer recognizes certain neighborhoods or boroughs. EVEN SOME SUBURBS CITIES If you are tracking a keyword by one of the changed location types, the keyword’s location will need to be updated to monitor on another city or postal code. I have some accounts that we are still figuring how or where to focus on. UGHHHERRRR Google! My source for this information is MOZ highly trusted by Google.
Are you seeking the perfect apartment industry speaker for your next event?
You want a professional apartment leasing, marketing or management speaker who will emotionally connect with your attendees, entertain them, give great content and leave them educated and motivated? Are you looking for a proven apartment professional who leaves their ego at the door so they can focus on the needs of your employee?
Perhaps you need an “expert who speaks”? This is a book author or researcher who is a recognized expert in the apartment industry who also speaks. They might be a currently active facilitator, consultant, coach and writer who speaks about their experiences and how they can help your company and employees
Whatever your needs are, Tami Siewruk is likely the right speaker for your event. If she is not she will now the speaker and provide you with their contact information. Research goes a long way when you are choosing a speaker in the apartment industry. There are many levels of speakers in the apartment industry, with credentials and capabilities that vary widely.
You will want to look at fees, expenses, logistics, topics, expertise, professionalism, technology use, learning tools and most important of all, the audience outcomes the speaker creates for you, your organization and your sponsors.
Follow this link to a few of Tami’s seminars or customize one for yourself!
For many Multifamily Leasing Professionals, leasing has become a challenge with the change in consumer’s expectations, higher rents, no concessions and the focus on raising rents at renewal, added responsibilities and less time! This tour focuses on arming you WITH a whole set of proven skills, strategies, resources and more, proven by years of success to help you lease and renew more apartments. What would you say if we told you that you can learn how to lease more apartments, personally, from one of our industry’s most experienced authorities on leasing? Join Tami Siewruk and be amazed that targeted learning can be so fast, easy, and affordable, or the return on investment for your career and community been so HUGE!
Learn Today’s Apartment Leasing and establish a solid foundation of skills that will have you closing and renewing more leases immediately. Learn how to Turn Rants Into Raves: Turn Your Residents On Before They Turn On YOU! Build trust and exude credibility for stronger and more profitable relationships with your future residents; Learn hundreds of leasing tips, tactics, strategies and techniques that are guaranteed to retain today’s consumer’s and work in today’s market conditions; Lease smart and with unmistakable confidence … using more than 137 tools! Celebrate a measurable increase in your renewals and closing ratios; replace frustration with continual inspiration! Master the best practices of leasing and renewing to reach your goals and set the bar higher … far beyond what you previously thought possible; Fall in love with how great it feels to lease confidently and skillfully without incentives and concessions!
Are you seeking the perfect apartment industry speaker for your next event?
You want a professional apartment leasing, marketing or management speaker who will emotionally connect with your attendees, entertain them, give great content and leave them educated and motivated? Are you looking for a proven apartment professional who leaves their ego at the door so they can focus on the needs of your employee?
Perhaps you need an “expert who speaks”? This is a book author or researcher who is a recognized expert in the apartment industry who also speaks. They might be a currently active facilitator, consultant, coach and writer who speaks about their experiences and how they can help your company and employees
Whatever your needs are, Tami Siewruk is likely the right speaker for your event. If she is not she will now the speaker and provide you with their contact information. Research goes a long way when you are choosing a speaker in the apartment industry. There are many levels of speakers in the apartment industry, with credentials and capabilities that vary widely.
You will want to look at fees, expenses, logistics, topics, expertise, professionalism, technology use, learning tools and most important of all, the audience outcomes the speaker creates for you, your organization and your sponsors.
Follow this link to a few of Tami’s seminars or customize one for yourself!
For many Multifamily Leasing Professionals, leasing has become a challenge with the change in consumer’s expectations, higher rents, no concessions and the focus on raising rents at renewal, added responsibilities and less time! This tour focuses on arming you WITH a whole set of proven skills, strategies, resources and more, proven by years of success to help you lease and renew more apartments. What would you say if we told you that you can learn how to lease more apartments, personally, from one of our industry’s most experienced authorities on leasing? Join Tami Siewruk and be amazed that targeted learning can be so fast, easy, and affordable, or the return on investment for your career and community been so HUGE!
Learn Today’s Apartment Leasing and establish a solid foundation of skills that will have you closing and renewing more leases immediately. Learn how to Turn Rants Into Raves: Turn Your Residents On Before They Turn On YOU! Build trust and exude credibility for stronger and more profitable relationships with your future residents; Learn hundreds of leasing tips, tactics, strategies and techniques that are guaranteed to retain today’s consumer’s and work in today’s market conditions; Lease smart and with unmistakable confidence … using more than 137 tools! Celebrate a measurable increase in your renewals and closing ratios; replace frustration with continual inspiration! Master the best practices of leasing and renewing to reach your goals and set the bar higher … far beyond what you previously thought possible; Fall in love with how great it feels to lease confidently and skillfully without incentives and concessions!
We’ve noticed apartment traffic from Facebook to our websites is going down. We share apartment community blog posts on our clients websites timeline for SEO benefit, and the number of visitors we attract to our sites has dropped in the past year-and-a-half. Overall, website traffic is going up and notice an excellent growth in organic search. Facebook is a resident engagement play. The benefit is that they share how much they love living in our communities and there for a referral platform. Increase sharable content, use influencers and engage heavily with each person that posts or comments. I have found that Facebook is more time consuming these days to achieve the same traffic to our websites. We are spending much more time on other social media platforms and is now also becoming a new essential strategy Has your strategy changed this year? Let me know.
