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Post-recession America gave way to an increase in demand for rental properties – a demand that has remained steady even after a few quarters of improved numbers, in terms of sales of private homes.
With a little over 35 percent of the total U.S. population currently renting, and over 90 percent of the total population likely to be renters at one point or another during their lifetime, effective apartment management is fundamental when it comes to meeting key metrics of occupancy, quality standards, and rent value per square foot. Knowing the right moves to position your property in the forefront of a potential renter’s shopping and research tools is essential.
As a property manager, your goal is to maintain top occupancy in order to maximize revenues. One of the most effective tools to reach out to potential renters and secure viable leads is through amplifying your visibility on online apartment rental sites, and providing customers with an attractive value proposition that makes you stand out from the rest.
If you are a property manager and you are just starting to direct the online reputation and review management efforts of your complex, then you need to know how ApartmentRatings can help you dominate the rental space. Join us as we walk you through the features and benefits of engaging with your current residents and reaching out to potential renters using this well-known customer interface.
ApartmentRatings Strengthens the Shopping Experience by Providing Over Two Million Renter Reviews
While the majority of business organizations can bank on natural listings on socially based sites like Yelp or Insider Pagers, the case is not the same for rental properties. The shopping path that consumers follow when looking for a residential rental property is very specific and intentional.
Someone who is working on identifying a suitable apartment to rent will rarely search specifically for the complex name. Apartment rental shopping happens mostly in the context of specialized sites that allow consumers to see a number of listings based on specific search criteria. One of the most popular sites for potential renters is ApartmentRatings.
In addition to ranking highly in most search engines, ApartmentRatings has a strong offline marketing strategy and is the go-to place when it comes to reading resident reviews. In fact, ApartmentRatings.com has an unprecedented number of validated reviews from real renters. With a review count of almost two million, you can trust that a potential renter looking for a place to live will without question resort to this tool, either to find a suitable complex, or to get a closer look at the type of living experience he or she is likely to have based on the testimony of past and current residents. If you want to be where the potential tenants are, then you need to be listed in ApartmentRatings.
ApartmentRatings Provides Shoppers with User-Friendly Search Features and Feedback That Matters
ApartmentRatings allows users to search specifically look for your complex by name and city, providing potential renters a source for validation before they sign on the dotted line. Many complexes have signed up to ApartmentRatings to be able to refer first-time visitors to the site and secure insights about the complex from a source that adds dimension and credibility.
Additionally, those looking for a place to rent by city can utilize an array of user-friendly tools that include cost parameters, search by map and percentage, or residents who recommend the complex. Finally, when a potential renter takes a deep dive into the certified resident reviews, he or she can have access to metrics such as noise, neighborhood, maintenance, grounds, safety, and office staff. In addition to resident-based ratings, shoppers can review amenities available by category such as pet friendliness, laundry availability, and more. Finally, for the cost-savvy consumers, they will have access to rent history for the area, better preparing them to make an educated decision about the property they are about to rent. Educated would-be tenants convert into satisfied residents who are likely to renew their leases year after year.
ApartmentRatings Displays Only Certified Reviews
In direct contrast to many other review sites that allow for any person to submit a review as long as he or she creates a profile, ApartmentRatings is home to exclusively validated reviews collected from real residents. Knowing that the reviews are not inflated by unscrupulous property managers or sabotaged by the competition adds value to all involved in the rental relationship.
ApartmentRatings Helps You Create a Healthy Feedback Loop
ApartmentRatings has the tools in place to help you capture and use the information that truly matters when it comes to improving your resident satisfaction and focusing your facility improvement where it truly matters, for those who matter the most: your tenants. Their data mining and business intelligence tools are of tremendous value to current members, and truly offer potential when it comes to shaping your product for marketability. Their resident satisfaction and retention feedback program is an affordable option for smaller multiunit apartments that lack an internal CMS.
ApartmentRatings Lets You Create Media-Rich Profiles and Respond to Resident Reviews
In the past, we have expanded on how multimedia can boost the relevance, popularity, and conversion of your third-party review sites. In the case of ApartmentRatings, as is true in anything associated with real estate, pictures matter far more than words. When you join ApartmentRatings, you will have full control of the photos loaded to your profile as well as the content, giving you the opportunity to truly shine above the competition. Additionally, with a paid membership you can respond to resident reviews online and offline, allowing for business-to-consumer interactivity that reflects your management’s team commitment to each resident.
ApartmentRatings.com Gives You the Option to Purchase Leads
In addition to having a paid listing, ApartmentRatings allows you to purchase leads for your market. Considering the affordable annual fee of $250 plus $100 activation, which is the same for all properties, ApartmentRatings.com truly gives property managers a flexible situation by only having to pay for leads when occupancy is struggling.
If you have been wanting to try a directory-based place to list your complex, we feel like ApartmentRatings is a good value proposition, particularly for larger properties where the annual fees could potentially be covered by simply having one or two extra leads originate from the site.