5 Multifamily Advertising Tips to Boost Your Property Visibility & Leasing Success
One of the first steps to filling empty units fast is making sure potential renters know your property exists. Then, you need to catch their attention with ads that make your property stand out above the rest. These multifamily advertising tips will help.
Most renters today do their apartment hunting online. They are conducting longer, self-lead searches to collect information before ever speaking to a leasing agent. So, if you want to get more leases with a limited budget, you need a strong digital presence.
If you manage or own a multifamily property, you’ve probably tried digital ads before or want to learn more before investing. At PERQ, we’ve helped hundreds of properties hit their occupancy goals with less effort and lower costs. Our data-driven approach to managing multifamily ads is a key part of how we boost leads and lower cost-per-lease.
Below, we share our team’s top five tips for getting the most out of your advertising budget and filling those empty units fast.
#1 Know your audience to make better decisions with your ads.
One problem we often see when fixing a client’s multifamily advertising strategy is that they don’t know enough about who they’re trying to reach.
For example, you might be proud of an amenity at your property and highlight it in your ads. But that perk might not be what actually attracts renters to your community. Without knowing what really matters to potential renters, you could miss the chance to promote the features that make your property stand out.
If your ads focus on the wrong things, you could also be spending money reaching people who aren’t the right fit. If you’re getting a lot of clicks but not more booked tours or warm leads, it’s a sign your ad strategy needs adjusting.
Make sure the right ads reach the right people at the right time by using data about your audience.
Some types of data you can collect include…
- demographics (age, gender, education)
- location and distance from your property
- favorite activities
- preferred number of bathrooms
- most wanted amenities
- devices and platforms they use
- preferred parking options
- pet-friendly needs
When you design your ad campaigns around these specific details, you’ll get better leads and spend less money.
For example, our 2024 Multifamily Field Guide found that renters in the Northeast were twice as likely to want a garage compared to renters in the Southeast. So, if your property has garages and is in Pennsylvania, make sure to highlight that in your ads.
#2 Set a smart advertising budget.
It’s easy to overspend on multifamily advertising. In fact, Forbes reports that for every dollar marketers of major companies spend on digital advertising, “only 6 cents goes towards showing ads that are viewable to real people in the desired target audience.”
To avoid wasting money, set a budget that fits with your other marketing plans. This way, you’ll not only save money but also build stronger ad campaigns.
Here are 6 steps we recommend for mastering your multifamily budget:
- Involve owners and asset managers. Make sure they understand your budget choices and be prepared with data to back up your decisions.
- Look at past data. See what has worked—and what hasn’t—so you can focus on what brings the best results and avoid mistakes.
- Know current trends. Be aware of things like new construction or rising interest rates in your area so you can adjust your spending over time.
- Balance your spending across channels. Reaching the same people through different methods—like Google Business Profile, pay-per-click (PPC) ads, and emails—creates a more memorable online presence.
- Use digital tools. Automation tools like conversational AI, tour scheduling, and PPC (pay-per-click) ads save time, improve efficiency, and lower your cost-per-lead.
- Review vendor performance. When looking at your data, see if your current vendors are delivering good results. Consider switching to new technologies that could reduce costs.
A note about PPC for multifamily advertising:
Pay-per-click (PPC) advertising is a great tool that can reduce your reliance on more expensive lead sources like Internet Listing Services (ILS). However, you need to understand how PPC will impact your budget.
With PPC, you pay every time someone clicks on your ad. The more effective your ad, the more you’ll spend. Industry experts and smart solutions like those offered at PERQ can help you manage your PPC spend to get the best return on your investment.
#3 Use multiple platforms to expand your multifamily advertising reach.
Digital advertising is more popular and powerful than ever. With the number of internet users doubling in the last 10 years, people are now used to shopping and interacting online.
In this crowded yet volatile market, using different platforms for your multifamily advertising offers several benefits:
- It helps you reach a bigger audience.
- It keeps you top-of-mind for the renters you want to attract.
- It lowers the risk of your audience if one platform becomes less effective.
- It lets you keep costs low by spending more only on channels that perform well.
If you decide to use multiple advertising platforms, there are several to choose from, including Google Ads, YouTube Ads, social media ads, and local ads.
However, managing ads on different platforms can be a challenge.
To make it easier, go back to the data from tip #1 and start with small ad campaigns on the platforms your target audience is most likely to use. Learn the basics of how to advertise on each platform. Once you have some results, you’ll be in a better position to decide if that platform should be part of your overall strategy.
#4 Make your website work for engagement & conversion.
Even the best digital ad won’t be effective if it stands alone. After all, your goal isn’t just to get clicks—it’s to increase occupancy.
So, when someone clicks on your ad and visits the landing page on your website, what happens next? To turn those visitors into leads and future renters, here are some tips to optimize your website:
- Implement a conversational AI chatbot to collect visitors’ information.
- Use remarketing tools to stay connected with leads.
- Ensure the promise made in the ad matches the content on the page it’s linked to.
- Design your website to be accessible and engaging.
- Add proof of credibility, like testimonials, property photos, and contact details.
- Make it easy for visitors to schedule a tour or learn more about your property.
Your website can be your most effective and affordable leasing tool, especially if you use automation and interactive features. Renters today expect to find most, if not all, of the information they need online—without having to talk to anyone. Your ads should start an engaging and informative journey that leads visitors all the way to a signed lease.
#5 Transform your multifamily advertising with PERQ’s smart solution.
Running digital ad campaigns that are both affordable and effective can be tough—especially when you’re busy managing a property.
PERQ’s pay-per-click (PPC) advertising management service can help with that. We handle the work of running your ads while lowering your cost-per-lead and lease. Plus, our database system gives you the info you need to make quick, smart decisions for your property.
Our solution includes 4 key features that drive the right traffic to your community for less work and cost:
- A mix of ad types, including search ads and retargeting, to get more conversions
- Creative calls-to-action (CTAs) to increase tour bookings
- Clear tracking to show which ads are underperforming
- Detailed reports with real-time recommendations based on your occupancy
At PERQ, we know that multifamily advertising has to be flexible, cost-effective, and efficient to fill units fast and improve your return on investment (ROI). Schedule a demo of our PPC management service today and see the results for yourself!