Brand is an essential part of any product, but it’s often underdeveloped or underutilized in property management. Renters start their apartment search blindly, lease from anonymous landlords, and start all over again when it’s time to find a new home. For property managers — even those with a great track record — this can make marketing and lease up exponentially harder.
Common’s recognized consumer brand generated 40,000 leads each month across our properties. Prospective residents know what to expect with a Common building, and look to Common specifically when it’s time to make their move. While many owners choose to leverage Common’s brand and team from the ground-up, you can still work with Common’s at your building at any stage. Here’s how.
Convert multi-bedroom units into coliving
Common can work with your team to convert existing multi-bedroom apartments or townhomes into all-inclusive coliving suites, furnished by our in-house Studio team for comfort and longevity.
Common will leverage our recognized consumer brand and marketing funnel to drive new and existing leads to your home. Renters pick their own bedroom and, using our in-house tech, we split all the bills for them. Because units are leased by the room, you’ll start collecting rent before the unit is fully-leased.
Common partnered with Invesco and L+M Development at The Heritage by Common to convert existing 4- and 5-bedroom units to 105 units of coliving in January 2021, increasing occupancy to 96.4%.
Full property management takeover
If you’re unhappy with your current property manager, or are looking to reposition your building in a growing or changing market, Common is fully prepared to take over all existing aspects of management, from property maintenance to marketing and resident experience.
Common’s dedicated transition team communicates with the existing manager to obtain all necessary information for takeover, without the owner having to act as a middleman. The transition team also works with marketing and leasing to ensure that Common is ready to begin leveraging our marketing funnel and touring units on Day 1. For existing residents, our renter focused and empathetic member support team makes tenants feel comfortable getting to know their new manager, with a set communication plan, welcome events, and onboarding onto our Connect by Common app.
A welcome event at The Wayland by Common. Common took over management of The Wayland by Common in September 2021 after the building underwent a renovation and was looking to reposition itself in the St. Petersburg market.
Common takes over marketing and lease up
You don’t have to replace your in-house management to work with Common. We’ll work with your team to market your home and offer your residents the Common experience, while you maintain your on-site team.
Common will work to market your home across social media, listing sites, email, and OOH signage, convert leads through in-person and virtual tours, and offer residents all the perks of being a Common member, including exclusive events curated by our member experience team and discounts to local and national brands.
Work with us
Over the past year, Common has brought our recognized consumer brand to 33 buildings across the country. Visit our partners page to learn more about how Common works with real estate partners and get in touch.