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Rebranding’s Impact Goes Beyond the Consumer Experience

Rebranding’s Impact Goes Beyond the Consumer Experience Multifamily Executive (07/27/17) Christensen, Chad

Rebranding an apartment community can empower staff from top to bottom and set a whole new course. Cottonwood Residential is currently in the process of rebranding a number of its communities as the company transitions its portfolio from primarily Class B apartment assets to Class A properties. Part of the rebrand included discussions about the name the firm plans to attach to its various multifamily housing communities. "Cottonwood" was the easy choice. The article's author shares several tips with regards to rebranding an apartment community. First, don't go forward with the rebrand process until all concerned are ready. The rebrand was something Cottonwood's operations staff had been pushing for several years. Chad Christensen writes: "We knew the decision to go forward really needed to be tied to an overall strategy change. So we started a metamorphosis over the past three years with the type of assets acquired and the structuring of our portfolio."

Of course, there is much more to a rebrand than simply renaming various apartment complexes. If you want a brand to convey quality, the upscale unit interiors, high-end finishes, and top-of-market amenities you are adding and promoting had better be there. This will pertain to each property's service levels, too. Consistency is key when building a brand. Even if 80 percent of the portfolio is living up to the image executive leadership is aiming to convey, the other 20 percent needs to be brought on board, as well. "As a midsized company," Christensen concludes, "Cottonwood hopes to build more and more scale in various cities and create a customer experience that's brandable. A rebrand pertains to every portion of your portfolio -- and your company."