When multifamily communities connect with local businesses and build strong, long-lasting relationships, there can be countless opportunities and benefits for both parties involved. At our P.B. Bell communities, our onsite leasing teams strive to build a positive reputation with the local community through a number of methods, including creating connections with neighboring small businesses.
Here are just a few of the benefits of multifamily communities fostering relationships with local businesses:
Builds Mutually Beneficial Relationships
Onsite property management teams can engage with the local community by building mutually beneficial relationships with small businesses in the area. With these partnerships, communities and businesses can cross-promote with little to no cost to either party.
An example of this is when onsite teams welcome incoming guests with a goodie bag filled with branded swag and coupons for businesses in the local community. By offering these coupons to neighboring businesses, new residents are more motivated to shop and eat locally. This tactic helps drive new foot traffic and targets an audience they might not have been able to access before.
Likewise, local businesses can promote nearby multifamily communities by having the community’s flyers in the shop for customers to see and pick up. Onsite property management teams can also set up a referral program with the business to give discounts to the shop’s customers that apply to become residents.
Develops a “Shop Small” Attitude
By building, nurturing and maintaining relationships with local businesses, multifamily communities further help promote a “shop small” mindset, which has numerous benefits for the local community’s economy. Studies show that small businesses are more likely to reinvest in the local economy as opposed to chains.
On top of this, supporting small businesses develops more local job opportunities and can be more environmentally sustainable, as many small businesses utilize local resources that have less of an environmental impact on the planet.
Creates Innovative Opportunities for Additional Exposure
Another benefit to multifamily communities creating connections with businesses in the local community is that it opens the door for creative exposure opportunities. For example, our P.B. Bell communities have started utilizing food trucks as a simple and fun event that residents can enjoy, naturally drawing awareness to the foodie businesses. Thanks to long-standing relationships with local food trucks, our teams are able to easily coordinate these community events which have been a major hit with our residents and have even become a regular, ongoing event in many of our communities.
By boosting community involvement and building positive relationships with local businesses, multifamily communities are able to create mutually beneficial connections that will support the onsite team’s goals, as well as promote shopping locally.
Are you looking for a quality property management team to manage your multifamily community? Or are you a local business looking to partner for an upcoming event? Check out our services or give us a call at (480) 951-2222.