The most common question property managers ask us is “How can I promote my apartment?” Market Apartments is a new construction lease-up agency you can rely on, from idea to building completion. We have experience working with builders and property owners around the country and have a proven lease-up marketing strategy that can fill your new complex to capacity.
See MoreNew Apartment Lease-Up Experts
Why you Need a Pre-Leasing
Marketing Strategy
If you’ve got an apartment lease-up property that is still under construction, it’s the perfect time to adopt a pre-leasing marketing strategy and start to expedite the lease-up process. Pre-leasing lets property owners and managers reach potential tenants early so they can start filling units before the construction or renovation is finished. When you get started ahead of time, you can use your online presence to generate interest, sign leases in advance, and get the high occupancy rate you want before your property even opens.
WHAT IS NEW
CONSTRUCTION
LEASE-UP MARKETING?
Apartment lease-up marketing is a strategy to fill new or renovated apartment complexes before or shortly after they open. It targets prospective tenants early using channels like Google paid ads, SEO, virtual tours, and other targeted strategies.
Lease-up marketing consists of apartment advertising strategies that work towards specific occupancy goals before a property is officially open. With the right apartment lease-up checklist and schedule, a property can reach new heights. By enhancing the prospect’s leasing experience, you can provide them with the confidence to sign with an unfinished community.
The multifamily industry differs from real estate. Knowing that there is not much to show other than some apartment maps and 3D floor plans, apartment lease-up marketing ideas can feel like a tense job. There’s no option to take photos of units or buildings, and no way to give a video tour. How do you get the word out to prospective residents that your community will be the perfect home for them? Residential lease-up sounds like a daunting task, but with the help of professionals is much easier and affordable today.
PARTNER WITH NEW APARTMENT LEASE-UP MARKETING EXPERTS
MARKET APARTMENTS OFFERS COMPREHENSIVE LEASE-UP MARKETING
Market Apartments is an expert in marketing lease-up rental properties nationwide. With our team, you’ll discover lease-up marketing ideas and strategies that will help you meet your occupancy goals. Our apartment marketing methods are a kickstart for every property to set off on the right foot. From the beginning, we’ll work with you to establish a lease-up marketing plan that will showcase your new property both online and offline.
Market Apartments can manage all aspects of your new construction lease-up marketing. With our help, you won’t have to come up with ongoing apartment advertising ideas. Our graphic designers can take blueprints and convert them into 3D renderings for an upcoming apartment complex and our marketers will create a custom lease-up plan tailored to fit your needs. With expertise ranging from traditional SEO for apartment websites to virtual video tours, our apartment lease-up experts will work with your team to build a marketing strategy that will increase your qualified leads.
During the lease-up period, while a property is still vacant or has low occupancy, cash flow might be tight, so it’s important to set realistic performance goals. Apartment building lease-up services are popular for a reason; marketing specialists can help your brand reach a bigger audience and fill up your units quickly.
With our lease-up marketing experts at your side, you won’t have to wait until opening day to gain new leads. Learning how to advertise apartments begins and ends with Market Apartments. We collaborate with you to develop your branding and messaging in-depth, guaranteeing that you are successfully reaching your target audience.
CASE STUDY
How our comprehensive lease-up marketing approach increased occupancy for a new apartment community.
Goal
Our client in Minneapolis approached us in early 2023 hoping to work with us to increase occupancy in their brand-new lease-up apartment community. They wanted to raise awareness within their neighborhood, build brand trust, and start reaching prospects before they opened, and we knew we could help.
Marketing Plan
We started by building a landing page that we expanded to a full website as their opening got closer. We added floor plans, photos, renderings, SEO content, and contact info, and made sure they had a waitlist. We updated their Google Business Profile, optimized their local listings, and much more! We started with a focus on organic traffic and when they were ready to open, hit hard with Google Ads.
Result
With our help, they surpassed 50%
occupancy in just 4.5 months!
From March 2023 to July 2023 they had:
5.40K Total clicks to their website
1.24K Requests for directions
229 Calls
Just from their Google Business Profile. Those leads quickly
started to turn into leases.
With our help, they surpassed 50%
occupancy in just 4.5 months!
Especially in a big city like Minneapolis,
this is an amazing feat. And we would love
to do the same for you.
Let’s Talk About
Your Next Project
WHAT DO YOU NEED TO MARKET A LEASE-UP PROPERTY?
There will be a lot of interest in your new construction now that the building is underway. Besides setting up banners all over your development and advertising within the neighborhood, it’s important to make sure your new community can be found online. Set up a landing page or website, set up your Google Business Profile, and make sure prospects can find your business on local listings. On top of that, make sure you have a strategic lease-up marketing plan and clear occupancy goals you want to work toward.
Start building your lease-up marketing plan today to make sure your multifamily properties stand out and attract the right tenants.
WHAT SHOULD YOUR LEASE-UP MARKETING STRATEGY LOOK LIKE?
Countless websites list apartments for rent, but is that enough to start your lease-up campaign? A new construction lease-up strategy consists of a variety of tools and ideas that can kick off your property’s success.
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Set up a waitlist and landing page at a minimum, but a complete website is even better
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Add floor plans, 3D renderings, virtual tours, and high-quality photos to your site
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Optimize your content using SEO best practices and local keywords
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Claim your Google Business Profile and update it regularly
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Start with organic traffic and when you’re ready to open, focus on Google Ads
Offer lease-up incentives: To attract tenants and expedite your lease-up process, you can offer incentives like discounted rent, waived application fees, gift cards, or amenity upgrades to prospective renters. Incentives like these give you a competitive advantage and entice potential tenants to choose your apartment complex, which helps you start reaching full occupancy quicker.
Most important for lease-up marketing: Start with SEO and Google Ads, a landing page, and eventually a full site with us
To enhance your marketing strategy: Get 3D renderings, virtual tours, etc.
Did You Know?
Filling a new property takes time
According to The National Multifamily Housing Council, it takes an average of 12 to 18 months to fully lease an apartment complex. The time it takes can vary a lot depending on market dynamics and how effective your leasing strategy is. To speed up the process, focus on a targeted lease-up strategy that can adapt to market conditions.
Getting your budget right is hard
RealPage did a study that shows 72% of property management companies put over 20% of their marketing budget into digital marketing. Optimize your digital marketing budget during the lease-up phase for a higher ROI.
Converting leads is tough
Apartment List reports that the average conversion rate from lead to lease is just around 5%. Put together an intentional lead generation and conversion strategy to improve these numbers.
Renters want more amenities
Multifamily Executive Magazine found that 67% of renters are willing to pay more for better amenities. That’s no small number. Invest in high-quality amenities to attract more renters and justify your rent prices.
You need to stand out
Moz found that 64% of renters use local search terms when apartment hunting online. Get seen online with an effective local SEO strategy.
The leasing cycle fluctuates
RentCafé’s research shows that lease signings peak during late spring and summer. Time your lease-up strategies to coincide with these peak seasons for better results.
Costs per lease are unpredictable
According to the National Apartment Association, the average cost per lease can range from $200 to $500. Use cost-effective advertising channels to manage and reduce your cost per lease.
You aren’t engaging potential tenants
Apartments.com found that listings with virtual tours get 87% more views. Incorporate virtual tours into your digital marketing strategy to boost engagement and get more views.
Filling a new property takes time
According to The National Multifamily Housing Council, it takes an average of 12 to 18 months to fully lease an apartment complex. The time it takes can vary a lot depending on market dynamics and how effective your leasing strategy is. To speed up the process, focus on a targeted lease-up strategy that can adapt to market conditions.
Getting your budget right is hard
RealPage did a study that shows 72% of property management companies put over 20% of their marketing budget into digital marketing. Optimize your digital marketing budget during the lease-up phase for a higher ROI.
Converting leads is tough
Apartment List reports that the average conversion rate from lead to lease is just around 5%. Put together an intentional lead generation and conversion strategy to improve these numbers.
Renters want more amenities
Multifamily Executive Magazine found that 67% of renters are willing to pay more for better amenities. That’s no small number. Invest in high-quality amenities to attract more renters and justify your rent prices.
You need to stand out
Moz found that 64% of renters use local search terms when apartment hunting online. Get seen online with an effective local SEO strategy.
The leasing cycle fluctuates
RentCafé’s research shows that lease signings peak during late spring and summer. Time your lease-up strategies to coincide with these peak seasons for better results.
Costs per lease are unpredictable
According to the National Apartment Association, the average cost per lease can range from $200 to $500. Use cost-effective advertising channels to manage and reduce your cost per lease.
You aren’t engaging potential tenants
Apartments.com found that listings with virtual tours get 87% more views. Incorporate virtual tours into your digital marketing strategy to boost engagement and get more views.
WHY WORK WITH MARKET APARTMENTS?
The marketing strategies we offer at Market Apartments are tailored to meet the unique demands of lease-up properties in the commercial real estate sector, making sure you have a successful grand opening that attracts high-quality tenants. Our team goes beyond the grand opening, providing ongoing support to help you maintain high occupancy levels and reach prospects that align with your property’s unique value proposition.
Our apartment lease-up services are designed to help apartment communities seamlessly attract and onboard new residents, ensuring a smooth transition into their brand-new building. So why wait? Work with Market Apartments to develop your customized lease-up marketing plan today!
Reviews
At Market Apartments, we value our customers and appreciate any feedback we receive. We put our clients first and encourage communication with those we work with. See comments from past and present clients below, and feel free to add your own. We would love to hear from you as we continue to improve our efforts.
“Market Apartments never disappoints! Anytime I have needed something made, it is completed in a timely manner and the end product is perfect.
Thank you!”
Devin Jones
Apress Commercial
“Market Apartments never disappoints! Anytime I have needed something made, it is completed in a timely manner and the end product is perfect.
Thank you!”
Devin Jones
Apress Commercial
FAQ
Any Questions For Our
Apartment Marketers?
We’ve got answers.
If you can’t find what you’re looking for, feel free to get in touch.
sales@marketapts.com
The lease-up period is the amount of time needed to find tenants for a newly developed or renovated rental property. The size and location of the property, the state of the rental market, the quality and kind of units, the extent of marketing and leasing efforts, and the level of competition all play a role in determining the lease-up duration. The lease-up time, which normally ranges from 90% to 100%, is calculated by counting the days between the first unit’s availability for rent and that date.
Apartment lease-up companies assist building owners, property managers, and developers in leasing up newly constructed or renovated apartment complexes.
Things to Know About New Apartment Lease-Ups
Here are some key things to know about lease-ups:
Market conditions: The local rental market and economic conditions play a big role in determining the length of the lease-up period. A strong economy and high demand for rental units can speed up the process, while a slow market or increased competition can slow it down.
Marketing efforts: Effective marketing and advertising strategies are necessary for reaching potential tenants and filling units quickly. This can include online advertising, open houses, targeted mailings, and community events.
Rent prices: The rental prices should be competitive to attract tenants and fill units quickly once they are available. Overpricing can lead to longer lease-up periods while underpricing often means lower revenue.
Unit quality: The quality of features and finishes in the units can play a huge part in whether or not tenants choose your property. Upgraded features, modern appliances, and stylish finishes can make units more appealing and help fill them faster.
Tenant screening: Careful tenant screening can help make sure the units are filled with reliable, responsible tenants who are likely to pay rent on time and follow the lease agreement.
Leasing staff: Having experienced and knowledgeable leasing staff will help speed up the lease-up process by effectively marketing the property, conducting tours, and efficiently processing tenant applications.
Timing: The timing of the lease-up period can also be impacted by seasonal factors, like student move-in times or holidays. Planning around these factors can make your lease-up process more successful and efficient.
Implementing targeted marketing strategies, offering attractive move-in incentives, and providing exceptional customer service are all effective ways to expedite the process of achieving full occupancy for a lease-up property.
Things to Know About New Apartment Lease-Ups
Here are some key things to know about lease-ups:
Market conditions: The local rental market and economic conditions play a big role in determining the length of the lease-up period. A strong economy and high demand for rental units can speed up the process, while a slow market or increased competition can slow it down.
Marketing efforts: Effective marketing and advertising strategies are necessary for reaching potential tenants and filling units quickly. This can include online advertising, open houses, targeted mailings, and community events.
Rent prices: The rental prices should be competitive to attract tenants and fill units quickly once they are available. Overpricing can lead to longer lease-up periods while underpricing often means lower revenue.
Unit quality: The quality of features and finishes in the units can play a huge part in whether or not tenants choose your property. Upgraded features, modern appliances, and stylish finishes can make units more appealing and help fill them faster.
Tenant screening: Careful tenant screening can help make sure the units are filled with reliable, responsible tenants who are likely to pay rent on time and follow the lease agreement.
Leasing staff: Having experienced and knowledgeable leasing staff will help speed up the lease-up process by effectively marketing the property, conducting tours, and efficiently processing tenant applications.
Timing: The timing of the lease-up period can also be impacted by seasonal factors, like student move-in times or holidays. Planning around these factors can make your lease-up process more successful and efficient.
Implementing targeted marketing strategies, offering attractive move-in incentives, and providing exceptional customer service are all effective ways to expedite the process of achieving full occupancy for a lease-up property.
The risks and difficulties that could appear while leasing out a new or recently renovated rental property to renters are referred to as lease-up property risks. Several such lease-up hazards include:
Slow lease-up: The property may take longer than anticipated to fill, which would diminish the owner’s rental income and raise carrying costs.
High vacancy rates: A property may have a high vacancy rate if vacancies are not filled promptly or if tenants leave frequently, which will lower its revenue and profitability.
Low rental income: If the rents are set too low, there may not be enough money coming in to pay the bills and turn a profit.
Tenant problems: If the property is occupied by unreliable tenants who miss rent payments or damage apartment units, the business may experience a decline in revenue and an increase in expenses.
Legal concerns: Complicated agreements and rules may be part of the lease-up process, and failure to comply with them may result in fines and legal issues.
The success and profitability of a rental property can be significantly impacted by lease-up risks, therefore property managers must carefully evaluate and manage these risks to guarantee a successful lease-up process.
Slow lease-up: The property may take longer than anticipated to fill, which would diminish the owner’s rental income and raise carrying costs.
High vacancy rates: A property may have a high vacancy rate if vacancies are not filled promptly or if tenants leave frequently, which will lower its revenue and profitability.
Low rental income: If the rents are set too low, there may not be enough money coming in to pay the bills and turn a profit.
Tenant problems: If the property is occupied by unreliable tenants who miss rent payments or damage apartment units, the business may experience a decline in revenue and an increase in expenses.
Legal concerns: Complicated agreements and rules may be part of the lease-up process, and failure to comply with them may result in fines and legal issues.
The success and profitability of a rental property can be significantly impacted by lease-up risks, therefore property managers must carefully evaluate and manage these risks to guarantee a successful lease-up process.
Marketing new construction lease-ups can be a complex and multifaceted process. Overall, effective marketing of a new apartment lease-up requires a combination of targeted advertising, community engagement, and creative promotions and incentives to attract and retain renters.
Today, most marketing ideas for leasing apartments are digital. Building your online presence needs to be key to your lease-up marketing strategy. It is the best approach to raising awareness about a multifamily community. This includes launching your website, setting up social media accounts, and focusing on online marketing campaigns.
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Your Next Project
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