Think Like a Renter: How to Advertise More Effectively

3 Steps to a Renter-Centric Advertising Strategy

When marketing your available units to future residents, a renter-centric approach helps your message resonate. In a recent webinar for Apartments.com, Chris Hood shared the top tips for adopting a renter’s mindset. Based on recent survey data and website behavior, the senior director of marketing for Apartments.com explained what renters want and how multifamily properties can anticipate renters’ needs.

Get discovered

How do renters find your property in the first place? Most renters don’t have a specific property in mind when they begin their search. That’s the case for 89 percent of renters, Hood said.

Instead, the majority of renters turn to rental search networks like Apartments.com to identify properties. Three-quarters of renters identified rental search networks as a primary tool in their search, according to a recent survey by Apartments.com. From there, they evaluate their options and begin to narrow down their search.

Give renters the details they want

How do renters start to narrow down their list? Price remains a top consideration, Hood said. And renters don’t just want to know the base rent — they want full price transparency. Six in 10 will stop considering a property because of unexpected fees, according to the survey, and 85 percent prefer to see the total price listed with all fees included.

To improve your price transparency, make sure your listing includes your full fee schedule, as well as rent costs by move-in date and lease term. You can sync your property management software to Apartments.com to automatically update your pricing information.

It’s not just pricing where renters expected to find detailed information online. They also want to see your units inside and out — from the comfort of their own home.

“They want to know as much as possible before they contact you,” Hood said.

Essential details to display in your listing include unit-specific photos, floor plans, and amenities. Professional photography, Matterport 3D tours, and community amenities are also important. Ratings and reviews also factor into the decision-making process for 98 percent of renters.

Receive leads

Congratulations — your property is now on a renter’s short list. What happens next?

To improve your chances of receiving a lead, Hood recommended giving renters multiple ways to contact you, including email, phone, and in person. Renters also expect to see multiple touring options. That means in person with a leasing agent, self-guided in person, and virtual with an agent.

Since renters are getting most of their information before they reach out, the renters who do schedule a tour or send you an email are typically serious about living at your community. This reflects Apartments.com’s philosophy that renters who are well educated about your community are higher quality leads.

“Leads are work,” Hood said. “They take time and energy to follow up with and close, so our focus is on giving you the highest quality leads possible.”

What else do renters want?

For more insights from the latest renter survey, check out these articles:

• What Renters Want — and What They Don’t
• Nearly 3 in 10 Renters Need to Live Close to Transit
• Where Do Renters Want to Talk to You? Online
• Location, Location, Location: How to Make the Most of Your Property’s Location
• What Senior Renters Want: A Dive into Renter Preferences for Ages 55 and Up