Tips on improving older property exposure

There are many ways to improve the exposure of a multifamily property.

Many commercial property managers may be dealing with buildings that are not performing as well as they should. According to Multi-Housing News, it may be a good idea to make some tweaks to managing the building, as well as the approach used to attract new tenants.

The news source noted that with more consumers using online banking and other transactions on their mobile devices, it may benefit managers to take advantage of this.

"You can do your banking and shopping on your phone, so renters now expect to be able to pay the rent on their phone as well," said Thompson. "Once they get used to the convenience factor there's no turning back."

In addition, creating a referral program can help, and advertising other properties owned by the same company in the building can help tremendously, according to the news source. It is also important to know what the target market is for the property, as well as what others are doing. Offering what other competitors do will help improve the property's standing in potential renters' eyes.

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