5 Things You’re Doing Wrong When You’re Trying to Lease Your Apartments

I’m sure you’re doing a lot when it comes to apartment marketing. After all, no one wants to have empty units in their communities—that’s potential income just sitting there. Plus, you gotta admit, it’s a little spooky. 

But when it comes to marketing, there are certain missteps that people make that can lead to missed opportunities. Are you making them? I’m not here to judge (well, maybe a little). Here are some common mistakes that you should avoid when you’re trying to lease up your apartments.

Do Value-Add Acquisitions Make Sense in the Current Environment?

Over the past several years, equity in the apartment industry has spent a lot of time and effort pursuing value-add acquisitions.
At first glance, it’s easy to see why. Generally speaking, value-add communities are older properties in need of renovations to remain competitive. As a result, their acquisition costs historically have been lower than those of core communities – properties that were built fairly recently, have strong operating fundamentals and are in great locations.
When you couple the lower acquisition costs of value-add communities with the ability to significantly increase rents through renovations, there is the potential for higher returns than you might find from core investments. 
But now, some owners and investors who have dabbled in the value-add arena – including JVM – have become more cautious when pursuing these opportunities. That’s largely because the prices of value-add properties have increased with all of those investment dollars chasing them, reducing the opportunity to get those desired returns.
Instead, many of these investors are embracing the attributes of core properties.
The Issues with Value-Add
The rising costs of value-add properties have definitely given some multifamily investors pause. When you combine these prices with the cost of renovations like granite countertops, stainless-steel appliances and vinyl-plank flooring, you can sometimes end up paying close to core price and getting a core-like return at the end of the day.
Value-add properties also can saddle owners with other unexpected expenses that don’t really impact a community’s ability to drive rents. Since these properties typically are older……

Navigating Your Private, “Revenue-Generating”, Internet Network Through the 5G and WiFi 6 Landscape; for the Apartments, Neighborhoods, and Communities We Manage.


Navigating Your Private, “Revenue-Generating”, Internet Network Through the 5G and WiFi 6 Landscape; for the Apartments, Neighborhoods, and Communities We Manage.

Relax your mind and take a deep breath and hold it in; hold, hold, hold….
Maybe we shouldn’t hold our breath for too long because in most areas 5G may not become available for some time, if at all. Further, 5G may have some very serious physical limitations, especially indoors.  
If and when 5G fully matures could it replace WiFi 6 or will it complement it? Looking back may shed some light on what to expect; this article from Qorvo.com sums it up nicely;
“Every time a new cellular phone standard comes out, we see new claims about the “end of Wi-Fi.” When 3G was announced, the promise was that it would make Wi‑Fi (802.11b) redundant, which clearly turned out to be incorrect. With 4G (LTE), this story repeated itself and claimed it would put Wi‑Fi (802.11ac) in the shredder. And now the 5G message is that it will cover both the inside and outside of homes and buildings. It’s almost as though Wi‑Fi will soon no longer be needed [sarcastically].”
In any event, the best bet for lighting fast, affordable Internet for apartments or any group-setting, whether it be with 5G, Fiber or the latest WiFi technology (or a combination), might be with a Private Network Operator (PNO). PNO’s build privately-owned networks for small group settings like apartments, HOA’s, neighborhoods and community clusters. And yes, you can have a Private Network that uses all three technologies; 5G, Fiber and WiFi 6. These privately-owned networks have the flexibility to stay ahead of the technology curve, generate revenue……

Why ‘Beyond’ is Such a Tasty Marketing Word

I’m intrigued by Beyond Meats and I haven’t taken a single bite of one of its products. But let’s all agree: Beyond is a clever and effective marketing term.
 
If you are not aware of the Beyond product, it’s a plant based “fake” meat product. You could even call it “artificial” meat. But calling a product fake or artificial is a doomsday approach to marketing.
 
“Beyond” sounds so much better. Google defines it as “go beyond … to do more than (something); to do more than is expected or required.”
 
And consider these common phrases: “The Great Beyond,” “Above and beyond,” “Beyond belief” each implies greatness. Now that’s a powerful message to use when describing any product or service.
 
Beyond’s products are grabbing more eyeballs (and revenue) today in food marketing. My ‘fake meat’ sightings just during the past two weeks: Placed in several local grocery store meat aisles; Dunkin’ Donuts’ window signs for its Beyond sausage breakfast sandwiches; Burger King hyping it on TV – even pitting it against its traditional Whopper.
Popular family food restaurant chain RedRobin highlights it on its menu. I asked a waiter there if he’d tried it (yes, he has). Was it good (yes) and what did his customers think about it (they liked it). Even McDonald’s is launching the P.L.T. (plant, lettuce, tomato) burger, which will go on sale in 28 McDonald’s locations in Canada.
 
So, it’s a word that is gaining momentum. Does your product or service go “beyond” that of your competition? For apartment co……