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Revitalizing a Distressed Asset in Pullman, WA
Objectives
We are a full-service real estate consulting firm that specializes in providing top-notch services to clients all over the world. We have a team of experienced professionals who are dedicated to ensuring that our clients get the best possible results. Whether you're looking to buy, sell, or rent a property, we're here to guide you through the process and help you achieve your goals. Achieve full occupancy at a distressed student housing property in Pullman, WA by leasing all units and maximizing revenue through a targeted and strategic approach.
Target Marketing:
- Utilized platforms including Instagram, Facebook, Facebook Marketplace, Apartments.com, Rent College Pads, and Roomies.
- Executed tailored content, email marketing campaigns, and direct text messaging.
- Leveraged social media to promote events and attract potential residents.
Market Analysis:
- Implemented digital campaigns to fill remaining vacancies with impactful online efforts.
Community Engagement:
- University Collaboration: Partnered with the local university to offer exclusive deals to students.
- Local Business Alliances: Established partnerships for cross-promotion and enhanced community integration.
- Employer & Healthcare Partnerships: Collaborated with top employers, recruiters, and hospitals to extend exclusive offers and enhance community outreach.
Urgency Tactics:
- Options for Leasing: Promoted both full unit and bedspace options to meet diverse student needs.
- Scarcity Emphasis: Highlighted limited unit availability.
- Incentives: Provided move-in specials and time-sensitive offers to encourage quick decisions.
Market Analysis:
- Implemented digital campaigns to fill remaining vacancies with impactful online efforts.
Capital Needs and Curb Appeal:
- Assessed capital needs and evaluated curb appeal projects to enhance property value.
Results
- Achieved a 35% increase in prelease percentage within 30 days after taking over management on July 15th, just ahead of the August 16th move-in.
- Increased Visibility: Elevated marketing efforts led to greater exposure and a notable rise in lead generation.
- Enhanced Engagement: Targeted promotions significantly improved engagement and leasing rates.
- Effective Partnerships: Strategic alliances with the university and local businesses expanded reach and influence.
Transforming an Underperforming Asset in Clovis, CA
Objectives
Turn around a distressed multifamily property with a history of poor management and underperformance by achieving full occupancy and maximizing revenue through strategic planning, targeted marketing, and operational improvements.
Market Assessment & Strategy Overhaul:
- Staffing Overhaul: Replaced underperforming staff with a dynamic community manager to revitalize operations.
- Market Research: Analyzed local market and demographics to refine marketing efforts.
- Marketing Refresh: Revamped digital marketing, including social media, email campaigns, Google PPC, and remarketing
Targeted Marketing:
- Used platforms like Instagram, Facebook, and Apartments.com for tailored outreach.
- Launched email/text drip campaigns to nurture leads, with urgency-driven incentives to boost leasing.
Community Engagement:
- Hosted resident events to build community and boost retention.
- Partnered with local businesses, employers, and healthcare providers for cross-promotion and exclusive leasing offers.
Operational Improvements:
- Enhanced curb appeal and addressed capital needs to attract residents.
- Improved work order efficiency and gathered resident feedback to boost satisfaction and engagement.
Urgency Tactics:
- Digital Campaigns: Pushed aggressive digital marketing campaigns to fill remaining vacancies, leveraging online efforts for targeted outreach.
- Scarcity Messaging: Emphasized limited unit availability and implemented time-sensitive leasing incentives to create urgency and expedite leasing decisions.
Results
- Occupancy Surge: Increased occupancy from 64% to 100% shortly after taking over management.
- Proactive Vacancy Management: Maintained full occupancy using a 90-day vacancy tracker for proactive planning.
- Enhanced Visibility: Revamped digital marketing to boost visibility, lead generation, and online presence.
- Boosted Engagement: Increased resident engagement and leasing rates through targeted promotions and community events.
- Effective Partnerships: Built strategic alliances with local businesses and employers to expand community outreach.
Student Housing Pre-Leasing Campaign in Logan, UT
Objectives
Fill all vacant units at a student housing property in Logan, UT, before the academic year begins.
Targeted Marketing:
- Platforms: Instagram, Facebook, TikTok.
- Tactics: Custom content tailored to students, email campaigns, text messaging.
Community Engagement:
- Events: Hosted activities to showcase the property’s lifestyle and amenities.
- Social Media: Promoted events to drive engagement and attract prospects.
Partnerships:
- University: Collaborated with the local university for exclusive offers.
- Local Businesses: Formed partnerships for cross-promotion and community integration.
Urgency Tactics:
- Emphasized limited unit availability.
- Offered move-in specials and limited-time offers.
Results
- Significant Increase in Pre-Leasing:
- The campaign achieved a 30% increase in pre-leasing within just 6 weeks, successfully filling the property before the start of the academic year.
- Enhanced Social Media Presence:
- The property's social media following grew substantially during the campaign period, with increased engagement on posts highlighting community activities and leasing opportunities.
- Stronger Community Connections:
- The events and community-building efforts, along with the partnerships with the university and local businesses, led to a stronger sense of belonging among residents, enhancing the overall living experience at the property.