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The Multifamily
Marketing Glossary

If you’re new to multifamily marketing, you may be feeling a little overwhelmed by all of the terminology. Don’t worry, you’re not alone! This industry has its own language that can be confusing for newcomers. In this blog post, we will define some of the most common digital marketing terms related to multifamily housing. By understanding these terms, you’ll be able to communicate with other professionals in the industry and create better marketing campaigns. Let’s get started!

Multifamily

Any residential property that contains more than one housing unit. Duplexes, townhomes, apartment complexes, and condominiums are some of the most common examples of multifamily properties

Vacancy Cost

The amount of rent that could have been collected from vacant units if they had been occupied and leased at current market rates

Turnover Rate

Typically expressed as the ratio between the number of move-outs or units vacated during a specific time period, usually one year, and the total number of units in a property

Section 8 Housing

Privately owned residential rental units that are used by a property owner to participate in the low-income rental assistance program created by the 1974 amendments to Section 8 of the 1937 Housing Act. There are two types of Section 8 programs, known as “place-based” and “tenant-based”. Under th…

Net Operating Income

Revenue minus all operating costs, excluding debt service, depreciation, capital expenditures, and income taxes

Mixed-Use Development

A type of development combining retail, office-residential, or industrial-office residential development in one parcel or group of parcels of land

Median Household Income

For any geographic area, the household income for which half of households in that area have more income and half have less

Low Income Housing Tax Credit

LIHTC is dollar-for-dollar tax credit housing investments. It was created under the Tax Reform Act of 1986 that gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income tenants.

Loss to Lease

For all leased units, the difference between market rents and actual contract rents

Gross Potential Rent

The amount of rent that an owner would collect if all apartments were occupied and all residents were paying the market rent

Fair Market Rent

The 40th percentile rent for rental units in a given metropolitan area. The FMR is calculated by HUD using data from the American Community Survey, and is updated annually. FMRs are used to determine payment standards for rental assistance, predominantly through HUD’s Section 8 program

Concession

An economic incentive granted by an owner to encourage the leasing of space or the renewal of a lease. Concessions are usually related specifically to the rental rate (e.g., a month’s free rent)

Assisted Housing

A privately owned rental property that, through government subsidy, houses low-income residents who otherwise would not be able to afford market rents. 1. Property-based: the owner receives government assistance in the form of mortgage insurance, a reduced mortgage interest rate, or tax incentive…

Apartment

A rental dwelling unit, contained in a building of five or more units

Absorptions

The net change in the total number of apartment homes leased

Absorption Rate

Absorption rate is a measure that is used in multifamily real estate to assess the current health of the market or a particular property. It calculates how quickly homes are being sold or rented in an area, typically on a monthly basis. This information can be extremely useful for investors and d…

Lease Charges

Other charges the resident is required to pay

Rent

The monthly amount a resident pays for their home

Market Rent

The asking rent of an apartment

Leased Percentage

The percentage of total apartment units that have a signed lease

Brand Guide

A document that contains the essential information about a company’s branding. It includes the company’s history, mission, values, and personality. Creating a brand guide can help to ensure that all of your marketing materials are consistent with your brand identity by outlining how t…

Tone of Voice

The personality that your brand projects to the world. It’s how you communicate with your audience, and it should be consistent across all channels. Your tone of voice should be reflective of your brand’s values and mission.

Brand Concept

An overarching idea or message that defines a brand. It is the central guiding principle that informs all aspects of a brand’s identity, from its visual style to its tone of voice. A strong brand concept can be a powerful tool for differentiating a brand in the marketplace and building cust…

Brand Strategy and Positioning

How you plan on communicating your unique value proposition to your target audience. Your positioning is how you differentiate your brand in the marketplace. which can help clarify what makes your brand unique, focus your marketing efforts, better connect with your target audience(s), and set you…

Look Book

A unique way to showcase your property that incorporates brand identity into a digestible summary of everything you have to offer. Often look books include floor plans, special design and amenity features, and community highlights, and can be used both digitally and onsite.

Swag

A term often used in the marketing industry to refer to promotional items that are given away to promote a brand or company. These items can range from small items like pens and keychains to larger items like clothing and bags. Swag is an effective marketing tool because it allows companies to re…

Construction Signage

A type of signage to be used on your property’s site during development. It can help you reach a larger audience, create a more professional image, and save money on advertising costs. This kind of signage primes the public for your property during development by incorporating your brand’s …

Building Signage

A type of signage that can be used for both internal and external purposes on your property, increasing brand recognition and legitimacy. Building signage typically includes a logo, color palette, and typography guidelines.

Email Template

A pre-designed email that you can use to quickly create and send messages. They can help to save time when sending similar or identical messages to multiple people, to ensure consistency in the format and branding of your emails, and to track which types of messages are most popular with your aud…

Social Template

A platform-specific post that contains pre-written content and images. They can save you time by allowing you to quickly create posts without having to start from scratch each time, and help ensure that your posts are consistent in terms of branding and messaging. They can also provide valuable i…

Social Profile Design

A way to help potential renters and current residents learn more about your company brand by creating a consistent and on-brand social media presence. Especially as more and more renters are engaging with your property online, having a cohesive and attractive social profile design is a worthwhile…

Prospect Folders and Flyers

A type of marketing collateral that helps to promote a property by providing potential renters with information about the listing, such as the price, square footage, and number of bedrooms and bathrooms. They help create a professional image and communicate your brand message to potential custome…

Floor Plan Inserts

A type of advertising that is commonly used in real estate and rental listings. They are typically small, often rectangular or square, and placed within the floor plan diagram of the property. Floor plan inserts usually contain information about the property, such as its address, price, number of…

Stationery

Paper and other materials used for writing, including envelopes, pens, pencils, and notebooks. Branded stationery is important because it helps to create a professional and cohesive brand identity. Your stationery should be consistent with your overall branding, including your logo, color palette…

Brand UI Kit

A collection of design elements that can be used to create a consistent brand identity across digital products. A typical branding UI kit includes a logo, color palette, typography guidelines, and icon set. Using a branding UI kit can help streamline the design process and ensure that your digita…

Icon Set

A collection of icons that share a common design style. Icon sets are often used to give a consistent look and feel to a user interface, or to represent different concepts or ideas in a concise way.

Graphic and Design Elements

There are many different types of graphic and design elements that can be used in branding. Some common ones include logos, color schemes, typography, and images. Each element can communicate a different message or feeling, so it’s important to choose the right ones for your brand. A good p…

Patterns and Textures

Patterns and textures are important graphic elements of branding because they can be used to create a unique look for your brand. Patterns can be used to add interest to your logo or website, and textures can be used to create a unifying theme across your branding materials.

Imagery

The process of using images to promote and sell products or services. Imagery can be used in a variety of ways, such as product photos, infographics, brand logos, and more. The use of imagery can help businesses to stand out from their competitors and create a strong online presence. Digital mark…

Color Palette

A color palette is a combination of colors that are used in branding and marketing materials. A well-planned color palette can help to create a cohesive look for a brand and make it more recognizable. When choosing a color palette, it is important to consider the different meanings of colors and …

Typography

Typography is the art and technique of arranging type to make written language legible, readable, and appealing when displayed. The arrangement of type involves selecting typefaces, point size, line length, line-spacing (leading), letter-spacing (tracking), and adjusting the space within letters …

Zoning

The process of dividing a city or town into different areas, or zones, for the purpose of regulating development.

Yield Management

A pricing strategy used by apartment communities to maximize revenue and occupancy. It involves setting variable rental rates for different unit types based on demand.

Website Analytics

The measurement and analysis of website data, such as web traffic and conversion rates. This information can be used to improve the effectiveness of a website and the overall user experience.

Target Market

The specific group of people that a product or service is marketed to.

Tagline

A phrase that encapsulates the essence of a brand in a few words.

SWOT Analysis

A tool used to assess a company’s strengths, weaknesses, opportunities, and threats. This information can be used to help make decisions about a company’s marketing strategy.

Social Media Marketing (SMM)

The process of promoting a brand or product on social media platforms, such as Facebook, Twitter, and Instagram. This type of marketing can be used to increase brand awareness, drive website traffic, and generate leads and sales. When done correctly, social media marketing can be an effective way…

Search Engine Optimization (SEO)

The process of optimizing a website for Google search with the goal of earning higher web traffic levels. SEO generally involves improving the quality and quantity of site content, as well as building links to and from other websites. By making these improvements, businesses can improve their web…

Search Engine Marketing (SEM)

A type of online marketing that focuses on driving traffic to a website through paid advertising, such as pay-per-click (PPC) ads. SEM can be an effective way to reach potential customers who are actively searching for products or services like yours.

Sales Funnel

The process that salespeople use to move potential customers through the stages of the buying journey, from awareness to consideration to decision.

Return on Investment (ROI)

The financial return from a marketing investment, such as the revenue generated from a new customer. In other words, it measures how much money was made from a marketing campaign, divided by the cost of the campaign.

Rent Roll

A list of all current tenants and their corresponding rental rates.

Remarketing

A type of online advertising that allows you to show ads to people who have previously visited your website or engaged with your brand in some way. Remarketing allows you to reach these people as they browse other websites or use apps, and serve them ads that are relevant to their interests. Rema…

Psychographics

The psychological characteristics of a population, such as lifestyle choices and personality traits.

Positioning

The process of creating a unique selling proposition (USP) for a product or service. Positioning is often done through marketing campaigns that focus on the benefits of the product or service, rather than the features.

Pixel

A small piece of code that can be inserted into a web page or email, which allows you to track activity on your website or measure the effectiveness of your email marketing campaigns. When someone visits a web page or opens an email that contains a pixel, the pixel sends information about the vis…

Retargeting

A form of online advertising that allows businesses to show ads to people who have already visited their website or interacted with their brand. This type of advertising can be effective in reminding potential customers about your product or service, and it can also help to increase brand awareness.

Outbound Marketing

A type of marketing that focuses on reaching out to customers through advertising and other forms of promotion.

Occupancy

The number of apartments that are leased and occupied in a property.

Marketing Plan

A document that outlines the goals, strategies, and tactics of a marketing campaign.

Marketing Automation

The use of software to automate marketing tasks, such as email marketing, social media, and lead generation. Marketing automation can help businesses save time and money by automating repetitive tasks.

Leasing

The process of renting an apartment to a tenant.

Lead

A potential customer or client who has expressed interest in your product or service. Lead generation is the process of attracting and converting strangers into leads.

Lead Generation

The process of generating leads, or potential customers, for a business. This can be done through a variety of marketing channels, such as content marketing, search engine optimization, pay-per-click advertising, and social media. Once a lead has been generated, it must then be nurtured until it …

Key Performance Indicator (KPI)

A key performance indicator is a metric used to measure the success of a business or individual in meeting specific goals. KPIs can be financial, such as profitability or revenue growth, or non-financial, such as customer satisfaction or employee retention. The important thing is that KPIs are qu…

Inbound Marketing

A type of marketing that focuses on attracting customers through content, rather than advertising. Inbound marketing uses content, SEO, social media, and other tactics to draw people in. The goal of inbound marketing is to build relationships with potential and current customers, and to ultimatel…

Identity Standards

A set of guidelines that dictate how a company’s branding should be used. These standards can include things like logo usage, colors, typefaces, and more. Alternatively, these can be called brand guidelines and typically make up a greater brand guide.

Field Marketing

A type of marketing that takes place outside of the office, such as at retail stores or in public places.

Engagement

The level of interaction between a brand and its customers or followers.

Engagement Rate

A metric that measures the percentage of people who interact with your content. This interaction can be in the form of likes, comments, shares, or any other action that shows you they are interested in what you have to say. Engagement rates are important because they show how well your content is…

Drip Campaign

An email marketing campaign that sends a series of emails over time (usually at set intervals) to nurture leads and build relationships. Drip campaigns can be used to send information about a product or service, build trust with potential customers, and increase brand awareness.

Display Advertising

A type of online advertising that involves displaying banner ads on websites. Display ads are often used to raise awareness of a product or service, and they can be targeted to specific demographics, interests, or locations.

Digital Marketing

Promoting products or services using digital channels, such as search engines, social media, email, and websites.

Demographics

The characteristics of a population, such as age, gender, income level, etc.

Cost Per Acquisition (CPA)

Cost per acquisition (CPA) is a metric that measures the average cost of acquiring a new customer or sale. CPA is calculated by dividing the total cost of marketing and advertising by the number of new customers or sales generated. For example, if a company spends $100 on marketing and advertisin…

Conversion Rate

The percentage of website visitors who take a desired action, such as filling out a form or making a purchase. The higher the conversion rate, the more effective the website is at achieving its goals. Conversion rates are important to track because they can give you insights into how well your we…

Content Marketing

A type of marketing that focuses on creating and distributing valuable, relevant, and engaging content to attract and retain a clearly defined audience. The goal of content marketing is to drive profitable customer action by building trust and creating relationships with potential and current cus…

Concessions

Discounts or freebies (like one month free rent) offered to potential tenants to entice them to lease an apartment.

Competitive Market Analysis (CMA)

A report that compares a subject property to similar properties in the same market in terms of things like rents, amenities, and location.

Click-Through Rate (CTR)

The percentage of people who click on an ad or link out of the total number of people who see it. CTR is a good way to measure the effectiveness of an ad or email campaign. A high CTR means that people are interested in what you’re offering and are more likely to take the desired action.

Call Tracking

A system that uses unique phone numbers to track inbound calls from marketing campaigns.

Branding

The use of a name, slogan, logo, or other marketing elements to create an identity for a product or company. Branding is important because it allows customers to easily identify your product and distinguish it from other products on the market.

Behavioral Targeting

A form of advertising that focuses on delivering ads to users based on their past behavior. This can include things like what websites they have visited, what items they have added to their shopping cart, or what searches they have made. Behavioral targeting allows you to deliver more relevant ad…

Audience Segmentation

The process of dividing a larger audience into smaller groups based on shared characteristics. Segmentation allows you to create targeted marketing campaigns that are more likely to resonate with each group. For example, you might segment your audience by age, income, location, or interests. Segm…

A/B Split Testing

A/B split testing, in its simplest form, is a powerful tool that assists in refining digital strategies by testing the effectiveness of two different versions of a webpage or email. This, in turn, helps improve conversion rates and any other metrics you may deem significant. While it has been dis…

Pay-Per-Click (PPC)

An advertising model in which advertisers pay a fee for each time their ad is clicked. This type of advertising can be effective in driving traffic to a website or landing page, but it can also be expensive if not managed correctly. In order to be successful with PPC, businesses need to carefully…