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How to check vacancy when marketing to apartment complexes

When mailing postcards or flyers to apartment complexes, one of the reasons that your marketing piece won't get delivered is if you address it to either OCCUPANT or RESIDENT.

Another reason is a high amount of units that are vacant!

Finding out this information is a double-edged sword - you know, the "good-news, bad-news" conundrum!

What's a high amount? My personal opinion is 25% or more.

First, let's talk about how to check for vacancy and then we'll discuss why it's both good news and bad news for you as a loan officer.

Marketing to apartment complexes is no different than any other marketing that you do. One of the loan officers that I coach said that she sent mailing pieces to 3 complexes (each with an average of 500 units). She received 35-40 leads (each) from 2 of the complexes and NONE from the 3rd one.

The bottom line is that she does not have to waste her money on the complex with NO leads and has increased the mailings to the ones who responded to the postcards.

Call any apartment manager and ask them how many apartments are vacant - and you won't get a straight answer (at least most of the time). My recommendation is that you hop in your car and drive around the complex around 8 o'clock at night. Check for the following:

    How many cars are in the parking lot? You won't get an accurate account if you drive by during the day because people are usually gone during that time. During the evening hours, tenants have returned home and the number of cars (in the parking lot and car ports) will give you a good indication of vacancy ratios.

    How many lights can you see in each unit? Again, a visual, nighttime check will help you determine vacancy.

    Do the units have balconies? If they do, how many have grills, furniture or plants on them? It usually indicates that the unit is occupied.

First, the bad news! The post office will not deliver your mailing piece if the unit is vacant. However, if you use first-class postage and include your return address, the mailing pieces will be returned to you (at least they are supposed to be). You will have a good idea of the number of vacant units.

Now the good news! Vacancy means that people may not be happy with the complex and they are your prime candidates to consider buying a new home. Visit www.ApartmentRatings.com and link to a previous article, Apartment Complex Marketing Tip and read how to check how dissatisfied tenants are with the management.

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