Curry Associates Attend Multi-Family Market Seminar
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Curry associates were recently treated to a multi-family property seminar presented by For Rent Media Solutions.
Michelle Evans, account executive, and Dawn Kuhn, district manager, updated Curry associates about the current state of the multi-family property market. Evans and Kuhn covered apartment rental marketing trends as well as changes in the renter demographic and how the renter marketing message is received. According to Kuhn, Hispanic renters are on the rise, as are student and after 55 renters. Further, there has been an increase in the “renter by choice” – those who rent by choice, not because they can’t qualify to buy a home. Choosing to rent as a lifestyle is on the rise as consumers decide to downsize, opt out of home ownership or choose to enjoy the amenities of a rental community.
The renter demographic isn’t the only change afoot in the multi-family market. There has been a shift in how the marketing message is received as well. Renters no longer rely solely on magazines such as For Rent for their information. Mobile phone apps, the Internet and social media are increasingly sources of rental news. Social media, online reviews and reputation monitoring are more important than ever as more and more renters share their opinions – good and bad – on social networks and online review sites such as Yelp and Google+. It’s not just the younger renters using technology for rental information; seniors are the fastest growing segment of Internet users. Evans and Kuhn stressed that real estate brokers and managers need to incorporate these new sources into their marketing plans to reach potential renters and monitor what current renters are saying about their properties.
Armed with the latest information on the multi-family property market from For Rent Media Solutions, Curry real estate agents are poised to offer clients the highest level of property management, sales and consulting services.