In today’s marketing world, personalization has become more critical than ever. As consumers, we expect a customized experience that caters to our unique needs and preferences. This is particularly true in the multifamily industry, where renters seek a home that meets their lifestyle needs and caters to their personality.
It should not come as a shock that the multifamily market, in particular, is highly competitive, with countless communities vying for the attention of the same prospective renters. As a result, property managers must provide a unique and personalized experience to stand out in such a saturated market. This can include customizing the leasing process to individual renters, such as offering personalized virtual tours or tailored lease agreements, leveraging personalized communications, or even offering unique and specific amenities and services that cater to renters’ lifestyle needs and interests. Similar tactics can not only enhance the renting experience but build loyalty among renters as well. In fact, according to a study by Multifamily Executive, 81% of renters said they would pay more for an apartment with features customized to their needs and interests. Additionally, in a survey by Zillow, 61% of renters said they were more likely to renew their lease if their apartment community offered personalized amenities and services. Continue reading Personalization is key to standing out in a crowded renter’s market →