Multi-Housing News - October 2008 - (Page 32)

tech report ‘Class A’ Websites Reach prospects and retain residents with a targeted online presence By Erika Schnitzer, Associate Editor With one-stop shopping on the Internet becoming common practice, renters are increasingly finding apartments online. In fact, 70 percent of all apartment searches now begin on the Internet, according to Amy Weedon, account planner for Washington, D.C.-based Merrick Towle Communications. As this number grows, property managers need to be aware of what residents are looking for, as well as avail themselves of the tools they can use to increase the number of qualified prospects coming to the leasing office. A well thought-out Website can also go a long way toward improving occupancy and resident retention rates. It’s no longer enough for developers to include a listing of all their properties on one corporate site. “A lot of times what you’ll see with a corporate site is a template, which is kind of limited in terms of content,” notes Laurel Howell, director of Internet marketing for Kettler, headquartered in McLean, Va. Instead, “Individual properties need to have their own identities,” asserts Christopher Higgens, professional speaker and founder of The Apartment Guy, a firm dedicated to multifamily education. For Harrison Legacy Development’s The Zenith, for example, Merrick Towle Communications, which received the 2008 NAHB Pillars of the Industry award for Best Property Website, “used the building as the central way to navigate throughout the site,” explains Weedon. Prospects can scroll up and down the building for more information on its floor plans, features and amenities. Bells and whistles At the basic level, most property sites now feature photos, detailed floor plans, and real-time availability and pricing, which is an absolute must. “If you include availability and pricing, the resident will be more qualified when he or she comes through the door,” says Howell. “In the D.C. market, we have a lot of people who rent sight unseen,” she adds. Some companies have gone beyond the basics, creating so-called sticky points. The longer a prospect stays on the site, the more likely he is to contact the property, explains Weedon. Such tools include video tours of a property, interactive neighborhood maps, and floor plans with moveable furniture icons. CrossFire, a division of RealPage, recently released a new brand, 3DView (pictured), which converts two-dimensional floor plans into three-dimensional walk-through animations and floor plans, furnished or unfurnished. “A prospect searching on a property site can now go through and not just select the floor plan and see basically where the bedroom is, but can actually walk through the unit and get a sense of what it’s like to live there, building a much stronger customer experience” and increasing the likelihood that the prospect will go further through the leasing process, explains Michael Fortinberry, president of CrossFire sales and marketing. Additionally, property managers have the option of ordering these floor plans online and selecting their colors and finishes. While Websites have been traditionally geared toward selling, there is now a push toward using them as a retention tool, notes Higgens. “When you have a site that’s attractive and influences [residents] to come live at the community, you should make it a place for residents once they move in,” he suggests. Site features for this purpose include access to maintenance requests and progress trackers, resident handbooks, community and neighborhood guides, and resident portals. Higgens asserts that resident sites are becoming the place for more information, including rent due dates, notices and community calendars. As Weedon observes, “Properties with managers who encourage interaction among residents and use the calendar tool to promote a sense of community see a benefit that supports retention.” MHN To comment, e-mail erika.schnitzer@multi-housingnews.com For the article “Are You Leveraging the True Value of Internet Listing Services?” see www.multi-housingnews.com/features. For more information, visit www.multi-housingnews.com/productinfo 32 October 2008 | Multi-Housing News | Producer of Multi-Housing World http://www.assetacceptance.com/mhn http://www.assetacceptance.com/mhn http://www.multi-housingnews.com/features http://www.multi-housingnews.com/productinfo

Table of Contents for the Digital Edition of Multi-Housing News - October 2008

Multi-Housing News - October 2008
Contents
From the Editor
MHN TV Premieres
Market Pulse
Special Report: MHN 2008 Design Awards
Development & Design: Mirabella
Market Report: Chicago, Kansas City
Property Management: Tracking Residents’ Tech Wish Lists
Finance: Freddie Mac/Fannie Mae
Tech Report: Marketing Web sites
Products: Appliances

Multi-Housing News - October 2008