Describe the benefits of renting over buying in your blog and social media posts.
New research from ApartmentList.com revealed that fewer Americans seek to become homeowners—a major trend reversal that is great news for rental property owners across the country. With fewer seeking to buy homes, more people are living in apartments and staying in rental units long-term.
Less interest in homeownership is great news for multifamily property owners. By using social media channels to publicize the benefits of renting, you can double your efforts to find those who may be unsure if now is a better time for them to rent or buy a home.
New Trends in the Rental Market
The data from ApartmentList.com shows that the recent housing market troubles may have resonated with people who once wanted to purchase a residence. According to the report, 55 percent of renters wish they were homeowners, and 59 percent claim the economy has impacted their decision to rent rather than buy.
Plenty are satisfied with their lives as renters, a sign that the American Dream is slowly changing and home ownership may not be as important to many people as it once was. Of the renters surveyed, 24 percent plan to rent for the remainder of their lives and 47 percent think renting is a smarter move than buying a home.
Rent or Buy?
You're likely thrilled to find that an increasing number of people are content with renting and see it as a financially savvy decision. But what about those who hope to one day become homeowners and are on the fence about whether to sign another lease or purchase a home? You can easily use social media to show prospects renting a unit in your community is less stressful than purchasing a home—not to mention a fantastic deal. There are quite a few things you can post to help potential renters see the value in signing a lease at your property.
Showcase amenities that homes don't typically offer.
Does your apartment community have a gym, rooftop garden, pool, heated parking garage or even a restaurant or convenience store on one level? If so, publicize these fantastic features on your website, Facebook, Twitter and Foursquare to get the word out there. People torn between renting and buying may be swayed toward staying in an apartment once they learn that your property has more amenities than most homes.
Show off the ease of renting.
Renters usually aren't required to perform maintenance, buy new appliances or fix unexpected problems that may occur in their units. Write a blog post detailing how your maintenance team quickly responds to calls about leaky faucets or broken locks, or post a photo of a technician at work on Facebook. Realizing that home ownership requires lots of maintenance may remind prospects that renting can be much easier.
Promote great deals and low upfront costs.
Putting down a payment on a home can get pricey, and many may not want to part with such a large sum of money at one time. On your social media channels and website, publicize your low rents and any special move-in deals such as no security deposits or no application fees. Lower short-term costs may increase interest among renters who can't afford a large down payment on a home.
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