Five Strategies to Transform Your Lease-Up Marketing for Success

This is a guest post by Chris Arnold of Authentic.

In an ever-evolving real estate market, the success of new developments hinges not just on bricks and mortar but significantly on strategic lease-up marketing. Gone are the days when traditional methods alone could fill up buildings.

Today, a combination of innovative approaches, thoughtful pre-leasing strategies, and digital prowess is essential for not just reaching but exceeding occupancy goals.

Below, I'll touch on five strategies that can become transformative, redefining your lease-up success.

Establish a Strong Brand Identity

A property's identity goes far beyond a mere name or logo; it should encompass the very essence of what makes your space unique and desirable to potential residents.

Developing a compelling brand and identity is the first step toward creating a meaningful connection with your target audience. This requires a thoughtful process that aligns the project's vision with renter demand, ensuring the property stands out in a competitive market.

Skip the cliched names and rapid-fire logo websites if you're serious about a brand experience that lasts.

Build Early Brand Awareness

Leasing velocity is significantly impacted by how early and effectively a property can make its presence known. Traditional industry benchmarks suggest lease-up activities begin two months prior to occupancy are becoming obsolete.

Our experiences show that extending lease-up marketing activities to 6, 9, or even 12 months in advance can add substantial value, building momentum and engagement long before the doors officially open.

Think this requires a fully staffed leasing team to accomplish? Think again. A strong creative agency partner can build and execute nurture campaigns long before you need to onboard your leasing staff.

The Digital-First Approach

Today, in a world where digital interaction is king, engaging potential residents online is non-negotiable.

Digital-first marketing targets ideal residents where they already are (online) and drives significant traffic to your website. Layering in a digital component to your lease-up isn't just about broadcasting availability on the ILS platforms. It's about meaningful interactions that nurture leads over time, transforming interest into commitment.

A compelling paid ads strategy, refined and brand-centric website, and thoughtful retargeting campaigns connect the "digital dots" for renters in the modern multifamily ecosystem.

Educate Stakeholders on Pre-Leasing Value

One of the more challenging aspects of lease-up marketing is securing buy-in from decision-makers for a forward-thinking pre-leasing strategy.

The key lies in framing the narrative around tangible business objectives rather than aesthetic or superficial creative ideas. Demonstrating how a well-executed pre-leasing plan can add real value to the project often turns skepticism into enthusiastic support.

When in doubt, turn to the numbers. What is the anticipated rent roll? How soon does the team anticipate stabilization? Furthermore, what if we stabilize 2, 3, or 4 months faster with a dialed-in go-to-market strategy?

Suddenly, the ROI becomes a conversation about real dollars and cents, often turning the conversation from a non-starter to a serious discussion.

Engagement and Nurturing: Before and After

Even after a property stabilizes, the marketing effort should not wane. Engaging with the residents through social media, targeted ad campaigns, and onsite events keeps the brand vibrant and relevant.

Additionally, nurturing relationships with existing and potential residents ensures a steady pipeline of interest, which is crucial for maintaining high occupancy rates.

After lease-up, it's easy to dial back marketing to almost zero, but time and time again, we see the importance of a slow marketing drip well after a property is full.

Empower your onsite team(s) with the tools they need, or continue to engage your creative marketing partner to help assist and build a game plan together.

Wrapping Up

Transforming lease-up marketing from an operational afterthought to a strategic forefront can significantly impact the success of new real estate developments. This much is crystal clear in 2024.

By embracing a holistic approach that marries brand identity, early engagement, digital strategies, stakeholder education, and continuous nurturing, developers and marketers can meet their occupancy targets and build lasting communities.

As we move forward, the real challenge lies not in whether these strategies can be implemented but in how quickly and effectively they can be adapted to the dynamic demands of the multifamily industry.

Are you evolving yet?

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