So how do you ensure that it’s your lease that gets signed?  As a Desperate Housewife once said, “perception is reality.”  If your apartment looks and feels like a home, renters will perceive it as a home.   According to Jessica Fiur at the Multi-housing News Blog, staging should be your #1 strategy.  Some (tasteful) art on the walls, some well-arranged furniture, and the blank canvas transforms into a place they could imagine living.  It’s a cliché, but remember the old baking-cookies-in-the-oven trick.  Everyone seeks comfort and relaxation, especially at home.  Create the illusion of it, and they will do the rest.

Close behind comfort comes bragging rights.  Tell the apartment’s story—does it have a sordid past?  Was it designed in a special way?  Did anyone famous ever stay here?  Make people familiar with the place.  It’s not unlike adopting a puppy; he’s just another slobbering canine until his prospective parents know how well behaved he is and how he likes his belly rubbed.

And learn from your successes and mistakes.  How have you sealed the deal in the past?  Is there a pattern to the times people walked away?  If it’s not your first time finding a tenant, you already know something about making it work.

Have some good tricks for achieving a signed lease?  Let us know what! We’d love to hear from you – here or on our Facebook page.

1. Dallas-Fort Worth, Texas

Though the recession has hit the entire nation hard, Texas has weathered it better than many states so it’s no surprise that the metropolitan area of Dallas-Fort Worth shows up near the top of the list of cities with the most new apartment construction. Unemployment isn’t as high in Texas as it is in other states either, so new units may fill up quickly as they’ll likely attract renters from out of the area who are hoping to find work.

2. San Francisco and San Jose, California

The tech industry of Silicon Valley has had its ups and downs over the past years but it looks like things are starting to even out again. There’s no doubt that we are a nation that loves its technology and there is a growing market for electronics and software so, over time, San Francisco and San Jose are bound to see an increase in the number of jobs available. New apartments are under construction in many cities around the Bay Area, which has seen some of the highest rental prices in the nation. These new units should help keep rental prices more stable as they attract more tech-savvy professionals to the area.

3. Indianapolis, Indiana

Over the course of the past few years, Indianapolis has remained one of the most affordable large cities in the nation. New apartment construction will help keep rents down, attracting people from around the nation. Though the job market in Indianapolis is still a little shaky, there are plenty of people looking to move to The Crossroads of America. Renters looking to move to Indianapolis don’t need to wait for the new construction to be completed, either; there are lots of units available now and at quite reasonable prices.

4. Tampa, Florida

With low vacancy rates and relatively high-priced rentals, new construction in Tampa will help stabilize prices and attract more people to the area. Though the job market is tough in Tampa, new construction projects, such as the creation of new apartment buildings, creates many jobs and helps put money into a local economy. Once the buildings are ready for renters to move in, the influx of money into the Tampa economy will have hopefully improved to job outlook in this city enough to support the new people moving in.

5. Salt Lake City, Utah

People who have lost their jobs in other parts of the nation may be able to find work in Salt Lake City. It has one of the best markets for professionals such as teachers and a reasonable cost of living. The new apartment buildings going up in this city will help keep the cost of living down while attracting new people to take on the available jobs in the city.

Are you building or seeking an apartment in any of these areas? We’d love to hear your thoughts – here or on our Facebook page!

Given the lag time embedded in commercial real estate, this increase in building could mean good news for years to come.  Investor’s Business Daily quoted Mark Obrinsky, chief economist with the National Multi Housing Council, as saying, “At this point, there is some noticeable pickup in new construction, but a lot more pre-construction activity is going on.” This is a welcome change from the past two years of building only 100,000 new units a year (compared to 300,000 units a year between 1998 and 2007.)

Why the sudden upswing in the real estate market? It’s a classic case of economic supply and demand.  In the lagging economy, fewer people buy and maintain their own homes, so more renters enter the market.  Furthermore, as the economy starts to recover, Gen Y is starting to find jobs and rent property for themselves. With both groups scrambling for apartments, vacancy rates are falling fast.  Manhattan rental vacancy hovers in the low single-digits, and Los Angeles boasts a 96.4% occupancy rate.  A great demand and a small supply mean that property owners can ask more money for their rentals.

In fact, rents have continually and steadily increased throughout the past two years .  Though the national average increase was  4.2% in the past year, some regions are much higher—such as San Francisco and San Jose, where have risen over 13%.  MPF Research, one of our sister companies and a consulting firm for the apartment sector, estimates that rents will climb another 4-5% in the next year.  This doesn’t mean bad news for renters, though. With all sorts of units in short supply, builders and developers are sure to expand the market for affordable (and new!) rentals, too!

Have something to say about the boom in apartment rental construction?  Comment here or on Facebook!

What is it?

A VIP club in an apartment complex is an exclusive group of very important renters. While all renters are important in an apartment community, these VIPs have done something to set themselves apart from other tenants in the complex.

Why is it a good idea?

People like to feel that they are a part of something special. Forming a VIP club for the renters in an apartment complex is a great way to make renters feel important. Many complexes already offer perks for renters who have lived in the community for a long time or who have gone out of their way to welcome new renters. Creating a club for these renters to join can make these perks seem more special. A VIP club can also help some of the apartment complex’s most valuable renters connect with one another. In this way, VIPs, who are often largely invested in the apartment community, can discuss issues in the complex and come up with ideas to help improve life in the community.

How does it work?

A complex can initiate new VIP members for a variety of different reasons. VIPs can be selected based on the number of years they have lived in their apartment or by their involvement in community activities. They may also be nominated by other renters for being good neighbors. A complex can choose to use one or all of these criteria or can develop other criteria to use to determine what makes a renter a very important renter. VIPs can be initiated at a yearly, biyearly or quarterly ceremony or they may receive their status in a more private ceremony.

How do renters benefit?

Many VIP programs offer a number of benefits for their VIPs. They may receive reduced rent, gift cards to local stores, tickets to the theatre or to local sporting events or they may be invited to participate in special, members only events. In many cases, the perks of being a VIP may already be offered by an apartment complex, such as reduced rent for tenants who sign a new lease once their first one is finished. With a VIP program, renters receive all the benefits they would normally and a title that separates them from the crowd.

How do landlords benefit?

Making tenants feel more important makes tenants want to stay in a complex for longer. This helps an apartment complex immensely. It saves owners money having to clean, repaint and change the carpet on units and helps save money in the long run by decreasing the need for advertising. When renters stay longer on average, new renters may also see that as a sign that the complex is a great place to live and may be more inclined to choose to live in this particular apartment community.

Do you have experience with a resident VIP program? We’d love to hear from you – here or on our Facebook page!

While it remains to be seen whether or not Google+ will be able to compete directly with Facebook or even last into 2012 (after their initial mass-joining, their momentum seems to have decreased by quite a bit), for the time being we are joining the bandwagon. Why should you join us?

1. SEO

As TechCrunch posted on Monday, “is a lot like Facebook Pages, but there’s one major difference: Google is baking some elements of Google+ Pages deep into its bread-and-butter search product.” Simply put, as we’ve always suspected with Facebook and Twitter, social affirmations (or Plus 1′s in this case) might very well be directly correlated with search results.

2. Direct Connect

Advanced Google queries have allowed a ‘+’ for years, to add a specific term to search results. However, now it seems that an individual searching can add +MyNewPlace or +Muppets (etc) into their search window, which will immediately add these terms to their Circles. This means they will receive updates and information in their individual news feeds automatically. This feature seems a bit comparable to a Twitter instant follow. Enabling this feature requires linking your Google+ page to your home page – Google+ will walk you through the process once you create your page.

3. Another Social Sharing Platform

Twitter, Facebook, and YouTube seem to have staying power…MySpace…not so much. If Google+ does stick around, its enhanced SEO and consumer-connect aspects seem worth the early investment. Those of us who have been paying attention to social media for the last decade or so have learned that early adopters often experience greater success than those late to the party. It takes a minimal investment to get involved now, giving it a chance seems worthwhile.

Questions? Comments? Doubts? We’d love to hear from you – here, or on our Google+ page

All this is staying riiiight where it is

The study, conducted by University of New Hampshire’s Carsey Institute, backs up previous observations that migration is slowing, and concludes that 2010 domestic movement struck an all-time since first measured in the 1940s.  Arizona, Florida, and Nevada in particular are seeing their influx of residents dry up.  On the other side of the coin, New York, California, and Massachusetts have experienced a 90 percent drop in the number of people leaving their borders for good.

No new southern home for you, my friend

What does this mean for Americans, and the states they inhabit?  Warmer locations in the Sun Belt that experienced substantial population growth are now seeing that growth level off and, in some cases, reverse.  A similar trend also appears within states:  suburbs, which have been booming, have slowed in growth, and dwindling city populations are losing fewer residents.  Younger people, typically big movers, are also less likely to move south—although the Times article did not speak to this issue, it’s possible that age distribution in southern locales will shift as a result.

The data are indicative of what we already know; when times are tough, people sit tight.  What analysts cannot tell is whether migration changes are temporary—or whether they, along with the economy, will be effected for years to come.  When things do change, however, some experts expect serious moving about:  a flood of pent-up desire for change, unleashed.

1. Make sure that cell reception is great.

Adults in Gen Y use cell phones to connect with friends and family on a more or less constant basis. They text, call, Facebook, tweet and email from their smart phones and they spend a lot of money to use this convenient piece of technology. It’s vital to make sure that the cell reception is great everywhere in the complex and in the apartments because there is nothing more annoying that not being able to use your phone in your own apartment. Keep in mind that most people in Gen Y have absolutely no interest in having a land line so offering this as an alternative is not going to cut it.

2. Provide wireless access.

One of the best perks you can offer a person in Gen Y who is looking for a new place to live is access to internet (and fast internet at that). People in this generation who are just moving out of the dorms are used to having the internet at their fingertips at all times. Ensuring that wireless will be available throughout the complex is a great way to attract young renters.

3. Install sound systems throughout the unit.

An apartment complex that is constructing a new building or retrofitting an old one would do well to invest in internal speaker systems. These systems are embedded into the walls and allow renters to plug their devices in and enjoy their music in every room of the apartment. They can also be connected to televisions to provide quick and easy surround-sound. While these systems come at a cost, they are also a huge plus for a generation that brings its music and entertainment everywhere.

4. Turn your community room into a high tech rec room.

In many apartment complexes, the community room consists of a few couches and chairs and perhaps a coffee table littered with old magazines. These rooms largely stand empty and it’s no wonder: they don’t have anything to offer. Turning this empty gathering place into a kind of high-tech, private coffee shop is a great way to help renters feel connected to the apartment community. Make sure there’s wireless available but also include a few computers that your renters can use free of charge in case theirs are down. An espresso machine and a gaming center with a large television and the latest X-Box games will also get your Gen Y residents to gather together and help build up your community.

Have questions or comments? We’d love to hear from you – here or on our Facebook page!

1. Start a blog.

Blogging is a great way to advertise your apartment complex. You can blog about the community, upcoming events in the area, tips for renters and anything else that relates to life in the complex. Inviting your renters to submit blog posts is a great way to get your residents more involved in their community. Not only will this show potential renters what a welcoming, active community you have, but the enhanced content on your site will help search engine traffic find your site in the first place!

2. Tweet.

When used correctly, Twitter can be a powerful marketing tool – as well as a great way to show your personality and knowledge. You’ll want to make sure you interact with your online community and make connections relevant to your business in order to make the most out of this social media tool. Twitter takes time and commitment to be useful – so be patient!

3. Create a Facebook Fan Page.

A fan page is a great way to encourage a conversation about your apartment community. Post links to your blog posts and tweets on your fan page and be sure to communicate personally with the fans that leave comment. Facebook is also a great platform for promoting contests and promotions. Want a more ‘apartment centric’ social network? Try inMultifamily!

4. Create videos of your available units.

Making video tours of your available units is a great way to attract new renters. Touring units in person can be time consuming and inconvenient since it often requires a potential renter take the day off work. Producing high-quality videos can let potential renters know exactly what the units and community look like before they arrive. Make sure your videos look professional and use a wide-angle lens on the camera when filming indoors.

5. Use Google +.

Google + is a new social media tool similar to Facebook and Twitter. It’s still growing so now is the time to get involved with this online community.

6. Use text messaging.

Many people prefer to communicate via text rather than by e-mail or over the phone. If you make this an option, you’ll be reaching out to your more tech-savvy residents and making yourself more available to potential residents.

7. Be creative in your print ads.

Print is far from dead and is an important part of any successful advertising campaign. Use print ads that help you stand out from your competition instead of run-of-the-mill photos of the front office. Resident submitted photos are always nice.

8. Provide helpful information.

Being an expert in your field is a great way to reach out to your community and attract future renters, especially if you extend your helpfulness to people who aren’t a good match for your community as well. If you don’t allow pets, have some recommendations ready to provide over the phone. Word of mouth is one of the best advertising tools and if the word gets out that your apartment complex is friendly and helpful, you’ll attract more renters in the future.

9. Be more visible in your community.

Interact with the organizations in your city or town and make yourself known. Engage in mutual advertising with social clubs, recreation centers and even other apartment complexes.

10. Maintain relationships.

Keep in touch with the people who come into your office even if they decide not to rent. A hand-written thank you note goes a long way towards maintaining a good relationship. If you make it known that you care, people who chose not to rent from you once may come around the next time they’re looking for a place to live.

Unfamiliar with Facebook, Twitter, and the blog-o-sphere? Or maybe you are very interested in going even more in depth? Check out MyNewPlace RentEngine to get started!

As a picture is worth a thousand words, let’s start there:

Facebook Timeline Cover Photo, Profile Re-Arrangement

(please click the image for a bigger size and less compression!)

This is the new Facebook ‘cover image’ (the huge one of my dog, Leroy) along with a smaller ‘profile picture’ which automatically imports from your current profile picture. As you can see, instead of left side tabs now your ‘Friends’, ‘Photos’, ‘Map’, and ‘Likes’ are buttons on top. Also important are the dates on the top right – they are clickable links that help you go directly to different periods on your timeline.

Next Up: Status Update Change and Life Event Icons

Status updates work much as before and can be found directly below the cover image and profile picture. Not the tiny, unfamiliar icons to the right of the familiar Facebook functions. It turns out these are here to help you retroactively fill in your timeline so it more accurately reflects a natural progression of your life’s events. In this way, Facebook Timeline becomes much like a scrapbook for helping you cobble together your memories, pictures, friendships, and life events. Each icon opens a drop-down menu to a series of suggestions and then an open ended entry link, as shown below:

Activity Listed In A Two-Column Format, Persistent ‘Ticker’ and Chat Availability Window On Right

(please click the image for a bigger size and less compression!)

Your ‘up to the minute’ activity ticker remains on the right, as in the new Facebook page design, and so does your chat availability. Your status updates, link shares, friends’ comments, and other information you upload to Facebook appears in a two-column format with endless scrolling capability (back until the day you were born). It’s all there- depending on how much information you personally choose to share. Facebook has also seriously upgraded/improved its privacy settings to help keep personal stuff on tight lock down!

When will this be available for your personal and fan page?

You can already activate your timeline if you are willing to go through about an 8-step process intended for developers. There is a great step-by-step guide at Mashable here. Not interested in becoming a Facebook developer but want to know when Timeline will be available for the general public to opt-in?  Mashable has the answer to this too:  Stefan Parker, Facebook UI Engineer on Quora, said “We are aiming to start letting users opt into Timeline in the next two to four weeks. There is no set date though.”

What does Facebook timeline mean for Multifamily?

As the ever prescient Brent Williams over at MFInsiders observed, “…the new Timeline… is a beautiful creation that shows the entire history of a user…  Whereas posts before tended to get lost after a few days, the new timeline encourages users to fill out their entire life on Facebook…(and) any post by your fans have a much longer lifespan.  But the posts that show up on the timeline don’t tend to be posts your fans made on your page, but rather status updates, pictures, videos, etc on their own profile, as well as app-related posts.  Therefore, if a fan posts something on your page, the long-term benefit won’t change, BUT if a fan posts a picture of one of your resident events on their profile, that picture will show forever in a pretty powerful way.”

Have questions or want clarifications? We’d love to hear from you – here or on our Facebook page!

Economists agree that a big part of the economic crisis we’re in is connected intimately to the housing crash. As homes lost their value and as people faltered under home debts they could no longer pay, jobs were lost and the entire nation’s economy suffered. Despite this clear connection, not much is being done to help former homeowners recover. Likewise, not much is being done to keep current homeowners who are still falling behind on their payments from falling into the same trap.

Many of the jobs initially lost in the economic crisis were closely related to the housing market. People who worked in construction lost their jobs when the construction of new homes dropped off. As fewer people were able to buy new homes, industries that marketed goods to home owners also suffered. This domino effect eventually reached nearly all industries across the nation and also adversely affected the economy abroad.

Fixing this troubled economy is not an easy task. Economists and lawmakers disagree about how to go about fixing the problems that we all face and the argument seems all but impossible to resolve. There are many different issues and addressing one of them will not necessarily fix the others.

That said, one area of the economy that definitely deserves more attention, especially when discussing a plan to create more jobs across the nation, is the housing industry. Directly addressing the housing problem may be one way to solve many of the nation’s economic issues, especially given that this crisis caused so many of the problems that we are currently facing.

The government has spent a great deal of resources bailing out large banks after the housing crash. These handouts were justified in that they prevented many banks from going under. The failure of banks was a huge contributor to the Great Depression, a scenario the US Government was right in wanting to avoid again.

Obviously, banks were not the only entities damaged by the recent housing market crash. Individuals lost their savings, their belongings and then their jobs as the economy went from bad to worse. In many parts of the country, people are still in danger of losing their investments and the job market continues to hover at a national average of about 9 percent. While there are individuals that do receive government assistance as they struggle to pay their mortgages and hold on until they can find new jobs, the vast majority of struggling Americans receive very little or no assistance. Obama is, of course, aware of this problem and has stated that he intends to keep “responsible homeowners” from losing their homes, though an action plan for doing so remains elusive.

And the question remains, with such a damaged economy, where do we put the first band-aid when trying to quell the financial bleeding?

Have something to add? We’d love to hear from you – here or on our Facebook page.