According research carried out by London First, UKAA and the BPF ‘Who Lives in Build to Rent?’, as of September 2020 there were 76,804 homes in London’s build to rent development pipeline which accounts for 27% of London’s rental market.
As we find ourselves emersed in an almost completely digitalised world, it’s getting tougher by the day to market available units in a growing residential rental market.
The prospective audience for build to rent and traditional private rented sector remains to be comparable, with slight nuances in age, income, affordability and employment, according to the Who Lives in Build to Rent report. But the common ground across the entire UK resident sector is the growing number of renters.
So how do you stand out from the crowd? There are some foundation blocks to put in place to help you generate more leads and furthermore, convert more of them into signed leases.
1. Consider your best route to market
Internet listing services should be an integral part of any build to rent marketing plan. Are you able to easily integrate property marketing with Rightmove and Zoopla whilst capturing behavioural and conversion data? ILS integration is key to driving more leads.
2. Get your website up to scratch
Your website should do three things: spark interest, track visitor behaviour and drive applications. Creative and easy-to-navigate websites will showcase your brand, availability, amenities and interactive floorplans whilst naturally guiding your visitor through their home search journey. But do you know who visited and what they’re interested in? And can you nurture them with nudge marketing prompts to aid conversion?
3. Automate marketing efforts
Putting your properties in the limelight takes a lot of marketing effort, but with the right tools, you can automate the process. Automate follow-ups with a ‘set it and forget it’ mentality to free up your marketing team’s time. A great content management system combines the ability to automate your communications whilst focussing heavily on customer relationship management to convert more leads to leases.
4. Communicate better with prospects and residents
Automated marketing is paying off and you’ve got streams of new applications coming in but why stop with excellent communication at the prospect stage? Smooth the prospect to resident journey by offering access to a branded resident app that enhances community engagement, resident payments and maintenance requests.
Webinar: Convert More Leads to Leases with Yardi RENTCafé
Feb 18th – 11:00-11.45
Discover how to generate more leads from your marketing websites using Yardi RENTCafé.
You’ll learn how to strategically plan marketing activities to increase website conversions including capturing and nurturing more prospects, booking online tours and converting more leases with trackable applications. We’ll also cover how to roll out and manage your resident App, how to better communicate with your residents and how to pull an extensive array of marketing reports. If you are responsible for the marketing of your properties and don’t currently use RENTCafé, or whether you already use RENTCafé and would like to extend your knowledge, join us for some great insights and best practice tips!