Whilst the UK and US have long been developing build-to-rent (BTR) projects, Australia is now embracing the BTR model (thanks to housing supply and affordability).

BTR developments are redefining residential living by offering an array of amenities and services that are reminiscent of upscale hotels, prompting developers to adopt a mindset similar to hotel operators rather than traditional developers.

Drawing from our managing director’s extensive experience working on a BTR project in the USA, we can offer insights and lessons learned to assist developers in creating successful marketing campaigns and timeless approaches in Australia’s evolving BTR landscape.

Emma’s Insights:

• Long term perspective

Despite the current strong demand driven by low vacancy rates, a long-term perspective is necessary.

You’ll need to consider things like the timelessness of your designs and imagery, building brand equity and how to maximise ROI and get longevity from your advertising.

• Establishing trust

Trust is paramount in the BTR sector because residents view developers not only as property concierges but also as the landlords. It’s super important to know your target audience and have a strong brand philosophy catering to them.

By curating engaging experiences and communications, developers can cultivate communities of renters, driving retention and leasing conversion.

• Different marketing strategy

The aim (as we called it in Houston) is to get heads in beds and then keep them there. However, in the instance where tenants move out once their lease expires, you need to have new leases ready to replace them. Campaigns that will drive the highest ROI will be when the apartments are ready to move in so you need to be generating enquiries at all times creating an ‘always on’ approach.

• Leasing tour path

Similar to the hotel experience where your room key is as on-brand as the type of shampoo and the whole guest experience is curated and considered with BTR, it’s important to think about the curated journey you will take prospects on. You need to maximise efficiencies for the leasing team’s time, and then ensure that the brand touchpoints including the branding, marketing collateral, signage/wayfinding etc are considered. This will enhance the experience and boost brand recall.

BTR marketing diverges from traditional residential strategies with long-term views and different advertising tactics. Caviar welcome the opportunities to share our experience and collaborate with those in the BTR space – we have a few ideas ready to be shared 😉.