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Signage is Often Under Used by Apartment Complexes | International Residential Real Estate Investors Association
Monday January 22nd 2018

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Signage is Often Under Used by Apartment Complexes

Signage remains one of the most effective advertising modes available to businesses. However, the advertising campaign often gets little attention during due diligence and along with this fact signage is often left to wait for a post closing day. The wise investor will have their eye on this requirement while completing due diligence. Identifying the best roads for signage and determining whether they can serve as a good feeder for a property can be a determining factor for the success or lack of success an apartment complex will enjoy.

Commonly available statistics on billboards for instance shows that in a large metro on a good traffic artery, signage can produce thousands of additional web visits per month.  Clearly, time spent on signage can be a real value producer.

Keep in mind when considering signage, a well run property can capitalize on much more signage than just that in front of the property. Additionally, consider very carefully how signs can and will be located on your property.

What considerations are important?

· Are there major arteries in direct proximity of the property (within a block or two)? · If there are major arteries, what are the principal sources of traffic on these roadways and is it significant to your property? · Find out who owns billboards along these roadways. Get pricing for monthly signage, term requirements, set up fees, and car counts for the direction faced by the property. · If you have or will have more than one property in the area, will the location be able to serve both? · If more than one sign will be used, what discounting will the sign management company offer? · Does the property require directional signs to be easier to locate? · Are there business site nearby where you can mount permanent or semi permanent advertising signs? · In areas where you will place the sign, what are the predominant background colors? Are there seasonal considerations effecting the background color. Nothing is a greater waste than a sign that no one can see? · What are local regulations regarding signs? · Does your property offer frontage that could provide a valuable sign location? Can this provide incremental revenue to your property? · How large of a sign can the property support? How high will it need to be? Are there obstacles that must be accounted for?

In the case of one property we own and manage, installing a large visible sign move the project from struggling with occupancy to an instant success. The 4X6 sign at this location is only visible from one direction, but because of the high volume of traffic past the location the sign produces 2 or 3 visits and an equal amount of calls daily. Regardless of season of year or economic conditions, the sign keeps this property full and rents trending upward.

At another property we own on a very high volume road, the sign has produced as many as 25 calls and visits in a single day. While this is not a normal daily event, this event certainly shows the importance of signs in your marketing strategy. Any element so important to the success of a property should not be overlooked by investors.

Keeping these ideas in mind can dramatically improve the performance of your property. Also, if you are interested in learning more the U.S. Small Business Administration offers much useful information regarding the effectiveness of signs, how best to set up signs, and many other considerations that may prove important to your property.

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