Mike Brewer
Apartment fundamentals
To preface, I am an optimist and believe there are niches in every market that will produce positive results. That said, I think that we are in for a very cold winter that might extend into Q3/Q4 of 2010.
Look at this headline and think of the ramifications for the multifamily space
There are more than six million more job seekers than job openings
nationwide — an average of 2.9 unemployed workers per available job —
according to researchers at the Economic Policy Institute in Washington, D.C.
It appears that many of the basic fundamentals turning south for the apartment as a whole. What plays out is sure to be interesting.
What do see happening in the next twelve to eighteen months?
Apartment fundamentals, Apartment marketing, Multifamily market
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Apartment Occupancies: As job growth goes so does occupancy go
Unemployment jumped to 7.2% in Saint Louis this month, up from 5.6% just one year ago. We all know that job creation and growth lead to household formation and thus apartment rentals and home purchases. Historically just 10% of the formed households lease apartment homes.
I say all that to suggest that some of the key fundamentals of our business are turning the wrong way. At least that is my view.
Let me know what you think.
Your trying to remain optimistic apartment maniac,
M
Apartment household formations
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Apartment Leasing: A tip to help you close more deals
I think this quote sums it up. I would love to hear your thoughts on what it means to you, in practical terms.
Dale Carnegie: “You can make more friends in two months by becoming
interested in other people than you can in two years by trying to get
other people interested in you.”
Apartment leasing, apartment marketing, Dale Carnegie
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Apartment Marketing: What about that ad or listing caused you to call or visit?
All these years we have asked the question (hopefully); Where did you hear about us? We do this in an attempt to track our advertising so that we know what works and what does not. And, that is to allow us the opportunity to spend efficiently.
My question to the group is this; Do any of you ask and or train a follow up question? I am not talking about: Did you see us in the big book or little book or this site or that site.
I think it appropriate to ask; What about that ad or listing caused you to call or visit us? This would assist us to further enhance our ad or listing copy.
copywriting, apartment marketing
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Apartment Marketing: Pay-per-lead
mynewplace and rentwiki charge by the lead and or email. I get the sense that if you don’t pay they just won’t pass along your contact information to perspective residents. Is it just me or does this seem nuts? I love the idea from a business perspective. That said, why would any owner subscribe to this model given all the free resources in the market place.
Along the same lines Rent.com is reportedly forcing the issue with its referral service. That is to mean, if a prospect moves to claim their $100 and the community proves the lead came from some place other than Rent.com doesn’t care. I am working to get further information and only post it here for that reason.
I look forward to your thoughts on this. Please drop us a your comments when you have a spare moment.
rentwiki, mynewplace, rent.com, apartment marketing
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