Apartment Complex Marketing (renters)

[OldWest]

We tried marketing to renters several years ago and decided it had no positive ROI...until.... we started marketing to the complex owners and insuring their buildings. We showed them how we could get them a 20% discount if their lease required their tenants to carry insurance and name them as certificate holder/additional insureds. We drafted a letter for the owner to distribute to the tenants and suggested they purchase from "their agent" for a seamless communication pipeline. Amazing results !

Good luck in your efforts.

That *is* a great idea. But how does one go about finding these owners? Whenever I've approached an apartment complex, I've seemingly always encountered an attitudinal, unhappy woman who becomes suspicious and evasive whenever I try to get any info about her superiors. How do you reach out with a great product to the right people?
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We tried marketing to renters several years ago and decided it had no positive ROI...until.... we started marketing to the complex owners and insuring their buildings. We showed them how we could get them a 20% discount if their lease required their tenants to carry insurance and name them as certificate holder/additional insureds. We drafted a letter for the owner to distribute to the tenants and suggested they purchase from "their agent" for a seamless communication pipeline. Amazing results !

Good luck in your efforts.

Also, I know how to add the complex as a an "interested party" so they will receive automatic updates on policy changes, but how do you get the complexes the 20% discount for doing so? Is that a carrier-specific discount? I am with Farmers, and have not heard of it -- but that doesn't mean it doesn't exist!

Thanks.

 

[b61mack]

you have to see if farmers is competive in insuring apt. complex's. RBA may chime in. He is an ex farmers agent

 

[Guest]

you have to see if farmers is competive in insuring apt. complex's. RBA may chime in. He is an ex farmers agent

They were, 5 years ago, but last I checked they were not.

One issue you have with this, is the owners/properties managers who handle this, KNOW INSURANCE.

I had a property manager i was talking to once, say to me, "I like the Travelers Policy" so, not in my system, always quote him Travelers! LOL!

So if you find a person like this, you probally wont have a chance, but don't give up hope, you never know.....

 

[OldWest]

They were, 5 years ago, but last I checked they were not.

One issue you have with this, is the owners/properties managers who handle this, KNOW INSURANCE.

I had a property manager i was talking to once, say to me, "I like the Travelers Policy" so, not in my system, always quote him Travelers! LOL!

So if you find a person like this, you probally wont have a chance, but don't give up hope, you never know.....

Our commercial rates are changing again so, for academic purposes, how would you ultimately go about finding these complex owners? Hell, he may say "no" to me now about commercial coverage, but I just bet I get his personal lines! Which, in turn, opens up the road down the line for consolidating coverage!