How OpenProperty Provides Property Management Companies With a Competitive Advantage in the Multifamily Market
February 11, 2020
Let’s be real — the market is flooded with available properties.
It’s practically a candy jar that has overflowed.
So, how do you stand out as “the” property to choose for prospective residents? How do you get a leg up on your competitors?
The answer lies in adding something to your online reputation management strategy that other properties are missing out on — an automatic ratings platform.
Here are three indisputable ways OpenProperty’s online reputation management tool provides property managers and their multifamily businesses with a competitive advantage:
1. Increases Number of Property Ratings (Every Month)
There’s no getting around it — numbers matter.
Your property can have positive reviews and high property star ratings, but if there are only five, your property’s trustworthiness becomes questionable. Sometimes, a low number of ratings can also communicate to the renter that you are a new property — whether that’s actually true or not.
Similar to how the hairdryer, camera, and vacuum cleaner with the most reviews on Amazon gets purchased the most by consumers, the properties that have the highest number of fair property ratings often get the most visits by prospective residents.
Do you have among the highest property ratings in your market?
It’s okay if you’re thinking “no” right now because you’ve come to the right place to change that. We created the OpenProperty automatic ratings tool for property managers and owners who are looking to be more attractive to renters.
It’s hard to get current residents to leave reviews. It’s like asking a teenager to pause what they’re doing and take out the trash — something that takes less than five minutes but is always met with indifference.
How many of your residents that move out each year leave a review?
We estimate that if only 5% of the residents at a property leave a rating with an annual turnover rate of 100 residents per year, then that’s only five new reviews each year.
With OpenProperty, property management companies can transform that number into 100. That’s one rating per resident who moves out.
Our online reputation management tool creates one new rating every time a resident moves out. This can easily mean multiple new ratings for your property every month.
Who of your competition can say the same?
2. Provides a New Type of Property Rating Other Property Management Companies Don’t Have
As you know, a critical part of ensuring that your property stands out from other available rentals in your area is offering renters something they don’t find everywhere else — that one thing that makes you unique.
OpenProperty’s online reputation management tool is that “something” for property management companies.
At the moment, automatic ratings is an untapped category; a new type of ratings that isn’t the same ole’, same ole’.
All of your competitors already have Google ratings and Yelp reviews, but a select few properties have maximized on automatic ratings. Aside from our powerful management tool, there is currently no other place where prospective residents can view property ratings based on data — where they can get an unbiased view of a property.
To say renters are used to reading through property reviews based on personal opinions is an understatement. Google and Yelp reviews will always be important but fair ratings are fresh.
OpenProperty will help you provide renters with a new way to trust your property's good business practices and will set you apart from other businesses that aren’t as transparent.
3. Supports Properties’ Local SEO and Search Ranking
No fact is truer than this: the higher your property can appear in local SEO, the more website traffic you will receive.
How do you feel about the simplest way to support your Google ranking and increase website visits?
Automatic rental property ratings with OpenProperty’s online reputation management tool can help your local SEO with zero effort from your end — a phrase we understand is music to property owners and managers’ ears.
The more online property ratings your business has, the more Google’s algorithm will recognize the importance of your property’s website.
There is no other property management tool that will provide you with new ratings each month as consistently as OpenProperty.
With new ratings every month being published for your property, you can digitally show Google your property’s importance and push you higher in search ranking — maybe even pushing your property’s website one slot higher than your top competitor.
How would that feel? Good, we guess.
Property Managers’ Solution for Gaining Competitive Advantage
It’s not easy to gain a competitive advantage in the multifamily market.
By this point, all properties are offering great amenities, posting on social media, and performing online reputation management.
But few offer future residents transparent ratings based on financial data that automatically publish every single month.
Are you ready to really make a difference in the number of renters that are attracted to your property and visit your website? Are you ready to see those numbers grow because you finally offer something other properties do not?
Partner with OpenProperty today and onboard the tool that will launch your property to success in 2020.