Why is differentiation so important?
Prospective residents have an overwhelming number of options when they are choosing where to live. These properties primarily market in the same manner, showing off similar amenities and offerings as ten other properties within a mile radius.
So what becomes the deciding factor for the prospective resident? Maybe price, location or name recognition.
But what if a property truly itself themselves from the market? That requires specificity, and effort, but it’s well worth it.
For example, we have a client that is laser-focused on sustainability and wellness. The building has acquired a Fitwel certification, showing residents that their health is a priority. They have a partnership with Best Bees, which provides residents with fresh honey and improves bee health. They have also partnered with us to provide residents with an on-site wellness program, ensuring that residents have access to the tools they need to live a healthier lifestyle.
This community has been extremely successful in their lease-up, not only because they are memorable to prospective residents, but also because they are attracting residents that are interested in sustainability and living a healthier life.
Differentiating your property from competitors lowers marketing costs, increases lead to lease conversion and creates a happier resident body.
Are your properties different than competitors? If you aren’t sure, contact us and we will see if we can help.