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In the Corona 19 era, real estate professionals are relying more than ever on technology to show properties to potential buyers and tenants. The same is true for apartment buildings. Customers are now less likely to come into sales offices and subdivisions for tours. I can see the dimensions of a marble countertop or master bathroom remotely, so why risk it?
FaceTime and Zoom meetings and tours, customized videos with audio components, floor plans, websites with photos and drone shots, Instagram posts, personalized emails and text messages are how real estate managers reach out to potential clients today.
There is a consensus that no matter how advanced the technology is, it will not provide an immediate visit, but is considered a good alternative to showing available devices and starting a conversation.
According to the Business Dictionary, a multifamily building is “a building designed to house several different families in a separate residential unit. In these buildings, family living quarters are inside the building, but amenities such as recreation areas, pools, and garages are shared. Townhouses, two-story, three-story or mixed-use buildings all fall into the category of community housing, but apartments are the most popular. In 2017, apartment complex construction hit a 20-year high.
Apartments are a great investment for owners, and the benefits are attractive to those looking for a home. Owners can rent several separate apartments at once, which is a lucrative business. On the other hand, this rental arrangement is attractive to housing demand because it requires a smaller initial investment than single-family homes.
In a growing city, apartments are an efficient use of space because they provide housing for many families with few land requirements. Meanwhile, residents appreciate the convenience of urban living. Because it’s close to work and entertainment. The benefits of living in an apartment building appeal to people of all ages. However, apartment location is most popular among young professional workers because of the low monthly investment rate. A group of young professional workers live in urban apartment buildings, but competition is stiff right now.
Many multifamily landlords are abandoning large urban properties and starting to build multifamily units in the suburbs instead. However, it’s hard to argue that an urban environment is best for apartments. The question apartment owners are asking is: How can we stand out and best attract housing needs?
Create a strong online presence
Joel Jeffrey, a financial services apartment hunter in Chicago, rented a one-bedroom apartment in the 57-story Optima Signature Tower downtown after a virtual tour. “The apartment had floor-to-ceiling windows, a washer and dryer, and everything you needed to access all your food without going outside. And this place has a personal chef. “He says. Since moving in on May 1, he’s found it’s been “better than expected.”
Katia Halaoui, Optima Signature’s business manager, says their pre-recorded and live guided tours have attracted many of their recent leases. They also offer new services to help tenants cope with pandemics, such as delivering white glove bags to tenants’ door rather than to a common room, and shorter lease options.
The new virtual real estate market is expected to attract attention for the following additional reasons: more consumers are getting used to doing business this way, and as pandemonium spends more time at home, more people are reconsidering where they live, says David J. Tufts, development director and managing partner of Tufts, ATP Properties/Ansley Developer Services, where he supports marketing and sales of new apartment complexes. Tufts, which markets the Seven88 West Midtown condominium in Atlanta, says they’ve found Evolution Virtual’s realistic rendering to be a useful Web tool.
Determine goals.
Apartment buildings can be tailored to different ages, so market size is good for owners, but it also creates problems. Needs vary by age, and it’s difficult to balance an amenity strategy. By focusing on a specific purpose, apartment buildings can be personalized and provide specific services to ideal tenants. For example, urban apartments can be better marketed by providing additional services tailored to the specific lifestyles of young professional workers.
For young people growing up in the age of technology, convenience is everything. Above all, people are embedded in the convenience of the workday, starting with transportation. The most sought-after urban apartment buildings are in a good location, close to public transportation stops. People with poor locations should be provided with bike storage space and arrange for Uber and Lyft delivery in the city center, which is easy to find. Another basic requirement that an apartment can provide is remote work. Free Wi-Fi, co-working spaces and even a business center make this possible.
Cleaning services, pet care, transportation and deliveries are other ways to provide convenience to young people. Convenience is an advantage, but you shouldn’t ignore enjoyment. Don’t forget to weave social elements into the mix.
Technology is the starting point.
Developers who build or present new condos and apartments are accustomed to starting negotiations with demand by using renderings, floor plans, photos, virtual models, etc. To rent or sell. Today’s goal is to create the right image in the minds of buyers and tenants.
Before the epidemic, Philadelphia-based Dranov Properties pre-sold a $30 million property in Ataus, the last building downtown to be completed by the end of 2021. Prospective buyers can meet with the sales staff to see the plans and materials in person. According to Carl Dranoff, president and CEO, this is a major housing development, given that unit prices are skyrocketing to millions of dollars. Marianne Harris, vice president of sales and marketing, says many people “can’t make it out” and prefer to book the apartment and complete the sale later.
Harris and Dranoff believe now is a good time to tell potential customers that the building is “a symbol of health and wellness.” To that end, when the building is completed by the end of fall 2021, we hired a company to create a professional video showing the view from the entire floor. The video also shows the amenity room, which will occupy two floors. Common areas related to health and wellness include a commercial-sized greenhouse, a 75-foot indoor pool, separate garden areas for owners who want to grow food and flowers, shared lawns for yoga, meditation or relaxation, a dog run, kitchens for cooking and a modern-art-fitness center.
Weaving with outdoor wellness uses
There is a growing environmental movement to ensure the health of building residents. The Environmental Protection Agency and the building community have learned that indoor air quality is generally poor, and people want it to change. Multifamily housing is evolving in line with this trend to attract housing demand and provide healthy housing.
Well-being starts with the design of multifamily housing. To improve air quality inside the apartment, install windows or wide glass openings in the walls to create more natural ventilation. However, health is not only about the physical aspect of health, but also about mental health. There is a new principle of building design that helps residents achieve mental health: eco-friendly design.
Green building design incorporates natural elements that enhance mood and reduce stress. It uses strategies such as mining, providing unobstructed visibility, filtering fresh air, placing plants indoors, and connecting residents to the outdoors. Apartments that follow this design principle will be different and make tenants feel better about themselves.
Nanawol’s glass wall opening system instantly connects residents and the outdoors as well as providing ventilation. The large recreation room space gives people a sense of being in nature, something city dwellers crave. Connecting with nature is just part of healthy urban living.
Other Essentials
For some companies, success in the Corona 19 era means creating virtual beings with a human touch. RMK Management, which manages apartment rentals in the Midwest, has revamped its virtual tour by adding rental consultants who can contact potential clients and tour apartments by phone, app, facetime or duo.
“This provides important personal connections and interactions and leads to more success than empty apartments without a private tour,” said Vice President Diane Pitro. The company also provides links to potential clients through social media, allowing potential clients to participate in virtual activities for residents of their property (such as bingo or reading for children).
It’s also important to continue to innovate. Ivan Ramirez, vice president of sales and broker at One Sotheby’s International Realty in Miami, has started inviting fellow brokers and sellers in his market who helped with the sale of the Royal Farm building to an online breakfast zoom. His company is making it even more enticing by delivering a breakfast including champagne, fruit and croissants to participants’ homes. “It’s a way to thank them,” he says.
In addition, Miami-based Pappas sends out gift cards via e-mail to potential customers who are the first to sign up for virtual open house-style events after receiving invitations on social media.
Get up on the roof and beyond.
Rooftops are often underutilized spaces, whether because of law or fairness. The potential to turn rooftops into a way to attract urban renters is great. Rooftops offer unique views of nature and stunning vistas that are closely tied to recreational initiatives. Ultimately, a rooftop should be a place to relax and socialize.
There are plenty of activities on the roof, but all outdoor play areas are appealing. If an apartment owner has the means to invest in a roof, he or she can use his or her creativity to customize the experience he or she wants to create in his or her home. However, there are many less original ways to get the most out of the area: outdoor games such as pools, cornices, large TV screens or bars.
Long-term outlook.
Many real estate experts who sell and rent apartments in apartment buildings expect that prospects will continue to look for most homes online to save time and then see for themselves what catches their attention.
“I think it will remain a very popular way to shop and filter information,” Ramirez says. He also expects new issues related to safety, social distancing and proximity to open spaces.
One of the things that won’t change, Tufts says, is the importance of follow-up to “stay friendly with shoppers” through constant conversations.
What about the room?
While amenities are a major marketing tool, a separate family room is still important. It’s the family’s only personal space in an apartment building. Of course, the interior of a room in an apartment must match well and can be created. Most urban apartment buildings have an elegant, modern look. But in order to distinguish the level of the room, the most important thing is the view.
Mid- or high-rise apartments have a height advantage and are often located in beautiful areas of the city. Take advantage of opportunities by prioritizing your views. Some windows are suitable for panoramic views, but adding a glass wall system to a room will make people remember that. Placing a balcony outside complements the experience.
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