From Instagram reels to real estate, how BTR firms are embracing social media

Could a post on Instagram make you want to move house? Would getting to know a brand be enough to make such a big change in your life? How renters access property is changing, and build-to-rent operators are thinking outside the box to make their flats appeal to potential tenants, especially on social media. Social platforms have a greater role than ever in our interactions with loved ones and with brands, as well as our spending habits: a process expedited by the social distancing of the past two years. Social media is now also part of the equation when renters are hunting for residential property. Social media is becoming increasingly instrumental as a tool for accessing potential tenants, as well as retaining current tenants. And BTR operators are leading the charge in tapping into this trend. These companies operating in London and other cities around the UK offer apartments for higher-than-average rents. In exchange, tenants do not just secure a place to live, they are buying into a lifestyle. Whether it is a racetrack on the roof, designer furniture or neighbourhood events, this is more than just bricks and mortar. And where better to sell a lifestyle than over social media? It is clearly working. Uncle, a BTR operator with buildings across London and in Manchester, announced this month that it has more than 1,000 people on waiting lists for homes. Caroline Rodin, the group’s head of brand and marketing, described how social media is an ideal platform to show consumers the reimagined rental experience BTR operators are championing. “Our home is becoming more than just somewhere where you drop your keys and go to sleep. It’s your working space where you are dreaming and achieving your goals. When you give more than just an apartment, you need to bring it to life and social media is such a great way to engage,” she said. Unique relationship Unlike other aspects of the private rental sector, BTR operators are unique in the fact that their brand relationship with a tenant does not end when the tenancy agreement is signed. Operators are also landlords, in the business of trying to keep tenants for as long as possible, and the relationship the brands curate with their tenants is important to maintain. Rodin said: “The biggest mistake brands make is they look externally instead of taking care of the people who are there.” Steven Osei, head of brand experience at BTR operator Get Living, agreed: “It’s the beauty of BTR, especially at Get Living, it’s not just the home that you get, it’s the community and the events all weaving together.” Social media has become an important tool in opening and continuing dialogue not only between landlord and tenants, but also between fellow tenants to establish what Rodin called “digital neighbourhoods”. There has been a shift too, not just in how people are searching for rental properties, but what they are looking for. The lifestyle sold by BTR operators, much like posts on social media sites, could be seen as too good to be true. The open dialogue enabled by social media not only allows a certain level of verification for tenants in the act of reviewing and discussing the properties, it also holds the industry to a higher standard, said Lesley Roberts, a partner at Allsop who specialises in BTR. “I wholeheartedly support it because it drives up standards across the sector. With social media it is very easy for people to say things, good and bad. It’s holding people to account,” she said Downside of social media And what about the downsides to social media? When the goal is engaging tenants for long periods of time, a top priority is not just providing amenities, it’s listening to concerns. Osei said even negativity on social media provides an opportunity for growth and engagement. “As a brand, you need to be open. It’s about how you respond back with facts, respond back with empathy, but at the same time, it’s insights about how you can optimise your campaign and messaging. It’s feedback in a way that could help us moving forward.” The shift is not just occurring in BTR. Social media is so powerful because it allows access to personality, not just in giving a greater sense of a flat or an office, but in putting faces to the names of people behind the deals and allowing agents to shine through. Shaun Simons is the founder of Compton, which has had social media “embedded in the DNA” of its business strategy since it was founded in April last year. The company’s approach to social media is to allow personality to come to the fore. Simons said: “Property is a people business, and people should be allowed to have personalities. We encourage ourselves and the people who work for us to be free and tell them ‘don’t overthink it’.” Few brands have gone as far as Compton in making social media such a fundamental element. Osei said that for Get Living “social media is part of the journey” but is not “the absolute destination.” As BTR operators embrace social media as a medium for interacting with tenants, it looks certain that the rest of the private rental sector will have to follow suit.   To send feedback, e-mail newsdesk@eg.co.uk or tweet @EGPropertyNews Photo from Pexels/Pixabay