This past May, I had the chance to join leaders in the apartment industry at a thought-provoking three-day conference in Vancouver presented by the Canadian Federation of Apartment Associations (now known as Rental Housing Canada). This conference was jam-packed with all sorts of inspiring ideas ranging from amenities to design, and from sustainability to leasing.
Site Tours that got us thinking in new directions
Conference attendees visited three purpose-built communities. The most unique was the Rentfynn.ca by Wesgroup, located within a 130-acre masterplanned community in the River District on the former site of a sawmill that dated back to 1910. What made this community, situated on Fraser River’s banks, so outstanding was how the homes in the community are heated: heat is captured from an incinerator located 6km away, then converted to steam and piped to the site. Another equally intriguing sustainable feature of the community was that it even has its own apiary—talk about a community with buzz!
The other two communities visited were thependrell1770.capreit.ca from Capreit and rentChronicle.com by GWLRA. Here are some of the many trends we noted:
- Enormous lobbies are out. Rooftop Community Gardens are in.
- Virtual healthcare is in.
- Dining rooms that seat 10-12 are out. Dining nooks seating 4-6 are in.
- Open concept co-working spaces are out. Private pods and mini meeting rooms are in.
- “Barbie” sized kitchen appliances are out. Full-sized [30” cooktop/stove and 33” fridges] are in.
- Guest suites are out. Refrigerated towels in the gym are in.
The Great Canadian Apartment Superstars shared dozens of thought-provoking ideas to inspire Landlords, property managers and marketers. Here are just a few of them:
- Pay former residents if they refer a friend who rents. Keep a separate email list of departing, happy tenants and eblast them from time to time to remind them about the program. If you are just starting out, refer to the last 12 months of vacates and create an email list.
- Customize signage on moving day to welcome new residents and make them feel special, instead of posting generic “Elevator on Service” signs.
- Choose amenities to match your target market. Consider tapping into the current pickleball craze or creating a hammock park onsite as an added draw to get residents to sign on the dotted line.
- Luxury goods retailers, auto sales and hospitality are all good places from which to recruit leasing consultants.
- Make your show suites stand out from the crowd. This sign was seen next to a fishbowl with a goldfish in it. It’s just a little way for prospective renters to remember your suite after they’ve left.
Technology Do’s and Don’ts
During the conference, several different speakers discussed Technology and Innovation in the rental housing industry. Here are some insights from Ruth Buckle, Killam Apartment REIT, Dean Holmes, Quadreal Property Group and Brooklyn Lewandowsky, REACH by Rentcafe:
- Have a corporate policy for AI use in effect.
- Use AI as a support, not a replacement.
- Check the work from AI before distribution. Accuracy is not 100% guaranteed.
- Always pilot new software in a small, controlled setting and refine before rolling it out.
- Use a chatbot to screen and respond to email inquiries at busy communities. (Killam and others do this!)
- Blogs are back because they optimize search function on AI.
- Ensure all amenities and neighbourhood features are detailed on your community’s web site for SEO and GEO.(SEO focuses on improving website visibility in traditional search engine results; GEO targets AI-generated responses and generative search platforms. SEO uses keywords and backlinks, whereas GEO emphasizes structured data and AI-friendly content formats.) Prospective tenants are searching on ChatGPT and other AI platforms for apartments.
- Consider using AI software in the application process. A chatbot is an efficient way to guide prospects through online application questions.
- Use AI to send reminders to residents leading up to first of month, with link to payment options.
Thanks, CFAA, for a fun, insightful and inspiring three days. I look forward to next year’s conference!
