FAA and Our Sincerest Apologies

We're really sorry. Really, really, sorry. We promise to do better. Blogging, while not hard work at all actually, is time consuming and time was not one thing that we had a lot of this past month. So, we will do better and we ask for your forgiveness. More tips, ideas and better articles? Ok, we can do that.

First up is an article from Multi-Housing News about the Florida Apartment Association and Trade Show Conference. We particularly like what Christopher Higgins, aka The Apartment Guy, had to say so we posted his comments and thoughts from the article below.

Another session that discussed enhancing productivity by embracing change was entitled “Marketing: Change It Up.” Christopher Higgins, founder of the “The Apartment Guy,” a firm dedicated to education for the multifamily industry, explained the importance of shifting attitudes in a recession.

Change isn’t something we embrace in multifamily, but change is good, he proclaimed, using an example of the oil bust during the ‘80s and successful developments in Texas regardless of tough times. Higgins explained this was due to their willingness to adapt to the times. Companies that are not afraid to change, persevere, he said.

Continuing on this notion, Higgins cautioned managers against cutting back on their marketing, explaining the significance of brochures in appealing to prospective residents and reducing the number of vacancies. He discussed a number of mistakes companies often make in designing their advertisements, including not listing prices. “You’ll get fewer phone calls, and many of the ones you do receive will not be qualified.” Additionally, he advised managers to think outside the box and use slogans that truly describe their properties, rather than the tired, overused taglines that are seemingly ubiquitous like "(your city's)...Most Lust Luxurious," "Welcome Home," "Resort-Style Living" or "Expect to be Impressed."

“When we have times that are troubling, you need to make sure you do things well,” Higgins said. In tough times, the properties who try new things and experiment are the ones who make it, he added.

Disclosure: We work for an advertising company and we'll, we're pretty proud of that. So we agree with TAG that cutting back on marketing is never good (let's be honest, most good advertising pays for itself anyway, it's all of the other costs that factor in or bleed into the marketing budget that make marketing attractive to cut) unless you absolutely have to and that instead of cutting back, utilizing what you have to your 100% advantage should be your main focus. We also love the idea of change which TAG believes, and rightly so, is very difficulty in the multi-family housing industry. We have our theories on why this is so (maybe a future post) but the idea behind FAA was a good one. Change is good, so let's not complicate it too much but see what we can change in the industry for the better.

FAA Speakers Advise Property Managers to Change It Up for More Productivity (multihousingnews.com)