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Multifamily Real Estate

Record-Setting Growth During the Pandemic: Marketing for Rental Success

Even though times are uncertain, it’s possible to surpass top results during the pandemic. At Rastegar Property Company, we are proud of our rental division, which is setting records, despite COVID-19.  Averaging more than seven new applicants each week, at the height of stay-at-home orders, we took in a total of 31 applicants in April 2020. Quickly adapting marketing plans is a significant factor in our success as we work to serve investors reliably.

Digital Leasing

Though our Austin offices are reopening, during the onset of the COVID-19 pandemic, we acted quickly with our property manager, strategically hiring a videographer to produce virtual tours. By hiring a younger entrepreneur who showed potential and talent, we saw the best results. Our videographer delivered high-quality, visually compelling results – he also shot and edited the video quickly, within 48 hours.

The resulting virtual tours proved useful, and in addition to that, leasing agents prioritized personable Facetime tours. The combination of photos, floor plan layouts, newly produced videos, and Facetime technology helped future residents feel comfortable in committing to our properties. Anything and everything that could put potential tenants at ease – while at a safe distance – became the priority.

Revamped Marketing

Our leasing team launched a new SEO campaign, along with Facebook and Instagram paid advertising. We saw double the number of leads in one day with the new campaign than we previously saw within one week.  

To learn more about our property management practices during COVID-19, connect with a member of our team today!

New Corporate Relationships

Besides new private tenants, we experienced growth with corporate housing partners, including a contract signed with a company that is providing housing for a unique project.

Future Efforts

The current pandemic is an evolving situation, and our property managers realize they will have to make more critical decisions over the next month. For example – when should closed-off amenities reopen? Our team is closely monitoring city and state-mandated guidelines, with the health, happiness, and safety of both our residents and investors as top-priority.

 

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Ari Rastegar
Author:

Ari Rastegar

Ari has built a portfolio network designed to reduce risk and provide strong quarterly cash flows, with an emphasis on asset classes such as self-storage, multifamily, office, retail, and industrial. He’s been recognized for his specialties in recession-resilient strategies and commercial real estate investments.