02 Jun It’s Not You, It’s Your Model: Staging Your Apartment to Increase Occupancy
It’s Not You, It’s Your Model: Staging to Increase Occupancy
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Model staging is an important part of growing your occupancy. In fact, the Zillow Group Report on Consumer Housing Trends found that 4 out of 5 renters (82%) place importance on taking in-person tours to get a sense of the space. But, if this statistic alone isn’t enough to convince you that your model apartment is one of the most important sales tools in your arsenal, perhaps compiled with additional findings from the same report, it will be. According to the Zillow Group Consumer Housing Trend Report 2016, most renters visit an average of 3.2 apartments before making their final decisions. So, what does this mean for you?
Model Staging Designs That Make Your Community Stand Apart
We all know that the most important things to renters include neighborhood, pricing, and of course, the ability to live with pets. So, once we can check those requirements off the list of things that meet your target renters’ standards, what is the next most important aspect contributing to their ultimate decisions? Apartment staging might be more important than you think.
The Key is Model Staging
At a lot of education seminars we’ve attended with Model55 (as part of our continual industry education initiative) the discussion of, ”what’s next on the list of factors?” comes up too frequently to count. One seminar we attended stated that it was parking, whereas in another keynote session the importance of steam rooms was discussed. But, what if none of those things really matter to most apartment hunters?
With over 10+ years proving apartment-staging services to clients in both the senior living and multifamily housing industries, we’ve come to understand that the staging of the model apartment(s) has a lot more to do with it than most asset owners and managers understand. In fact, apartment staging has so much to do with final decisions that we have been able to build an entire company out of providing model apartment staging services.
Model Staging and Memorable Storytelling
We’ve all heard how important curb appeal is when it comes to standing apart from the competition. But, what about your community’s inside curb appeal? In understanding that the average renter visits 3.2 communities in-person before coming to a final decision, the logical conclusion is that they make their choice based on how well they are able to picture living within the walls of the community. Therefore, it can be assumed that most renters are heavily impacted by their tours of the model apartments they visit.
Here at Model55, we operate with the credo that model apartment staging is the strongest visual storytelling marketing piece any community has to offer. When your prospects step inside your model apartment, are they able to picture living there?
Designing Model Apartments to Close Sales
Any organization in the business of producing and selling anything operates with some kind of sales cycle. Most companies understand that there are several stages to selling, from prospecting to closing. And, as you peel back each layer the information your prospects seek becomes more solid. For example, at first your resident might browse your website to gain a better understanding of the type of community you own and or operate. Then, they might request more information, such as pricing incentives. Finally they will come in to tour the community in-person. At each stage the information you provide becomes more tangible and important. It is that information that either guides your prospects on the path of closing, or discourages them from pursuing a rental agreement.
Just like most companies place their best sales personnel in the positions that deal with closing deals, you should use your strongest sales assets when a prospect is ready to close. So, what is the strongest sales asset your community owns? In our years serving the industry, we have come to find that it is the model apartment.
Model Staging Your Apartment for Closing
In conclusion, apartment staging is a necessary and important investment for any community looking to win potential tenants over from the competition. For more information on how to stage your model apartment for your target audience, be sure to explore our blog and website. We encourage your to leave comments below and start a dialogue. What model apartment staging ideas do you suggest for higher occupancy?