According to consumer trends and expert studies, 2014 holds marvelous potential for property owners and property managers. To develop an effective marketing strategy for the property, it is important to consider effective responses to trends and capitalize on tenant requirements. Here are a few important trends and forecasts for this year, and the best way to include them in your marketing plan.
Improving Relationships with Better Digitization
Tenants are always looking to engage more with property managers or owners, and this is now possible with least investment of time and effort, by providing digital platform for interaction. Most tenants also, find it convenient to engage online with Gastonia property management. For instance, property management can provide digital options for rent payment and a simple online form for tenants to request repairs or maintenance. This will not only result in better relationships with tenants, but also make the workflow process more efficient and less costly.
Experts have suggested that for 2014, prospective tenants will fall into mainly two prominent categories, those who are financially secure, and those who are striving to make it. In such an environment, it would not be wise to spend ad dollars on a blanket approach, but rather an advertising campaign that can target the two categories separately.
For the top end category, Gastonia property management could include certain property amenities that appeal to such a group. Whereas for newlyweds and graduates who are struggling financially, an ad campaign through social media would be more effective in highlighting saving schemes and special offers. However, all campaigns have to be closely monitored to see if they are producing the expected results.
Apart from digital technology, most tenants today are looking for upgraded efficiency that can help them save money on their utility bills. Hence, if the property has older doors and windows, an investment for upgrading them would pay in the long term. There are also many federal and state incentives available to property owners, which can reduce the burden of initial investment for these upgrades. While upgrading, look for products with higher insulation ratings, better protection from UV rays, and eco-friendly materials.
Provide Recharging Stations for Electric Vehicles
Even though electric fueling stations are much less, the demand for electric cars keeps on increasing. This shows that people are willing to pay for better and cleaner products, even though owning traditional products might seem more convenient. The number of hybrid cars on the roads is expected to increase to about 8 million in the next ten years and 2 million more cars that run only on electricity is expected in the same period.
Considering that most apartment properties do not have recharging stations, it would be a good strategy to install such stations to entice people who are having or plan to own an electric vehicle. The investment on per-unit stations is not much and property management can definitely find positive ROI by the first couple of years, depending on the rent structure.