The marketing action plan aims to increase occupancy at Avana at Forbes Creek apartments to 92% by achieving 7 net leases per week over 12 weeks and an average renewal ratio of 75% for August through October. Key actions include increasing incentives for leasing staff, expanding preferred employer partnerships, boosting social media presence, hosting resident events, and renovating show units to increase traffic and lease conversions. The goal is to reduce available units and maintain occupancy through increased leasing velocity and renewals.

1. Greystar
Jonathan Mou
MARKETING ACTION PLAN
Prepared For: Avana at Forbes Creek- Kirkland
Property Snapshot as of: July 19, 2016
CURRENT OCCUPANCY: 89.52% (444 Units)
AVAILABLE TO RENT (ATR): 8.87% (44 Units)
TRENDING OCCUPANCY / Use current date:
15 days 89.72%
30 days 89.92%
60 days 90.52%
Budgeted Occupancy: Aug 90.7%
Sept 90.7%
Oct 90.7%
OCCUPANCY GOAL: 92.0%
15 days 90%
30 days 90.5%
60 days 91%
ATR GOAL: Aug/Sept/Oct 6% (includes anticipated notices)
TOTAL # OF VACANT UNITS AVAILABLE: 31 Units
TOTAL # OF ON-NOTICE UNITS AVAILABLE: 15 Units

2. Describe how you will arrive at budgeted occupancy for 60 day time frame (how
will you reduce ATR by reducing notices to vacate and increase leasing velocity.
How many move in’s do you need). Describe how you will you increase traffic to
increase leasing capture rate? Using a market survey, traffic reports and leasing
summary reports and leasing associate closing ratios to place a plan in place. Set
leasing goals with them and provide incentives to increase leasing (this may be
monetary or may be via a competition or positive reinforcement)
ACTION PLAN GOAL: The goal of this action plan is to outline updated marketing efforts to
better compete with updated garden style communities with similar finishes/rent prices &
higher square footage. The leasing goal is to achieve 7 net leases per week over the next 12
weeks, and to achieve an average renewal ratio for Aug/Sept/Oct of 75% to reduce
growing ATR and occupancy down trend and reach occupancy goal of 91%.
ACTION ITEMS:
Ø PEOPLE
Leasing Professionals And Expectations
- Obtain a minimum of 3 leases per week per person
- Prioritize and manage time efficiently
- Remain eager to learn and not complacent
- Be open to adapting new skills/approaches, particularly when leasing is down
Natascha De Marco – Leasing Manager
- Obtain a minimum of 2 leases per week
- Host a brief meeting in beginning of the week with leasing professionals to
update them on conversions and activity and how to improve, despite lack of
traffic (?) print and use “Management Performance Per Agent” sheet
92% GOAL
How do we
get there?
People
PricePromotion
Product

3. - Morning kick off recapping prior day leasing, what has been achieved and what
is needed. Great time to uplift team, celebrate WINS and charge the team to
optimally perform.
Currently, lease capture rates are particularly low, with a July 18th
total of only 13
leases at a 7.6% conversion. Obstacles may be lower traffic and interest and inflated
prices that is driving demand down. Encourage leasing staff to stay connected with
their residents to create a personal connection and potentially result in renewals.
Prevent complacency within team by reminding them of additional commissions.
Post “Management Performance Per Agent” every 7 days on wall to hold
team members accountable.
Ø Leasing Incentives / Commissions increase and incentive program
- Leasing staff to be paid additional commission bonus. If achieve 5 leases per week
over a calendar month, then they would receive $5 per lease for first 10 leases, and
$10 per lease for the next 10 leases for a total of 20 leases for the month.
- Employee recognition for outstanding achievement (leasing, work attitude, helping
others, etc.) Employee of the month award = $50 Visa Gift Card. Posted on social
media.
- $25 additional commission to leasing professionals who obtain a renewal from a
resident they moved in
Action Items
List number of vacant units ready not leased
How will you get them rented and occupied and in what timeline?
Incentive for “stale” units (long standing vacant over 60 days old) How will you occupy them
to reduce vacancy loss?
As of 7/19/2016 Availability Report:
- 1 Vacant ready not leased
Due to renovations, there are a large number of units that will not be ready until mid-August
to late September. An obstacle to leasing new apartments is that there may not be many in
the near future available to show prospects (we are only limited to showing the 1x1 model at
the moment). May need to offer more move-in specials to entice prospects to lease
Schedule
April 2016
Mon Tues Wed Thur Fri Sat Sun
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24

4. 25 26 27 28 29 30
Kelly Cunningham Property Manager x x x x x
Eiren Espinoza Assistant Manager x x x x x
Natascha Ramos Leasing Manager x X X x x
Eden Rein Leasing Consultant X X X X x
Aaron Armijo Leasing Consultant X X X X X
Alexis Kempbell Leasing Consultant X X X x x
Ø PRICING
Renewals-
“List how many expirations and notices/move outs in place. What is the average rent increase
in place for August renewals by unit type? How will you achieve 65% capture of renewals and if
not how will you achieve occupancy goal?
August : 45 expiring leases. Average rent increase was $115.20 overall for August
Average Price: $1657.69
Aim for rent increase of 4% (lower from 5%)
1x1 H : $14 decrease
2x1 : $19.50 increase
2x1 H : $80 decrease
2x2 : $1.46 increase
September: 28 expiring leases. Propose a 4% rent increase to stabilize occupancy, scale back
on renovations to maintain leasing
October: 23 expiring leases.
Rate Reviews-
“Describe how Yieldstar revenue rates are helping or hindering? What is the plan to manage
daily rate recommendations to achieve occupancy goal?
Specials “ List any specials in place”
• Waive refundable deposits on apartment and pet

5. Ø PROMOTIONAL / ADVERTISING EFFORTS:
Action Item – List action items to be put into place to
increase traffic and boost leasing capture rate
Completion Date?
Marketing
- Plastic water bottles with Avana logo
- Offer free amenities trial to potential prospects
- Host local fundraisers for a good cause (partner & promote)
- Local farmers market? Booth?
Ongoing
Social Media
- Update Facebook page. Post more about local events in or
near Kirkland to draw interest in the area first (before
advertising for our community), and advertise specials as they
come. Use hashtags
- Create Twitter account (?). Tweet specials and regular posts
regarding the area (events, weather, nearby restaurants) Use
hashtags
- Create Instagram account (?) post pictures of community
(apartments, amenities, wildlife, local trails, etc.). Use
hashtags
- Create Snapchat account (?) post daily pictures of amenities,
wildlife, events, apartments, etc. Also design and create a
filter to establish a sense of exclusivity within area (helps
retention as well).
- Remind residents to use hashtags (which draws prospects and
can lead to referrals)
Ongoing
Platform Boosting
- Encourage residents to post positive reviews on
apartments.com, Yelp, etc. and remind them that it can lead
to referrals
Ongoing
Craigslist
- New pictures (?)
- Possibly include specials in Craigslist post
Ongoing
Ø Print, Outreach & Preferred Employer Program
Action Items
- Expand preferred employer programs to more companies (Evergreen
Hospital?)
- Advertise referral program to preferred employer prospects
Ø Traffic Sources, Pay for Performance
Action Items
- Allocate some of PPC budget to social media platforms

6. Ø Special Events
Action Items
- Upcoming yard sale
- Resident-only BBQ/mixer. Appetizer evening? For expiring leases, held once
a month.
- BBQ mixer with other nearby Greystar communities that includes residents
from both communities AND prospects. Hold raffle event, games, etc. and
promote. Amenities trial?
- Pet event. End of summer dog pool event? Partner with groomers and do
free grooming? Raffle
- Community picnic at a nearby recreation rea (Juanita Bay Park?)
- Community athletic event (mile run, basketball/tennis tournament, etc. with
prizes)
Ø Resident Referrals & Resident Retention
Action Items
Renewal/Retention
- Free (?) community events twice a month
- Many residents own dogs—monthly event including their dogs?
Send out questionnaires to residents once every two months (asking what
community could offer or improve on) and address according to budget
- Encourage leasing staff to remain in contact with their previous
move-ins and remind them of a potential renewal commission
- Post mini-bios of team staff on website to help current residents
become more familiar with staff so they are more comfortable in
approaching with issues, may help retention (?) more friendly
atmosphere
Ø PRODUCT
Curb Appeal & Signage
ACTION ITEMS
- Replace dog bag dispenser/trashes. Many of them are getting
old/rusty
- Pressure wash all the breezeways
- Signage will be upgraded
Show Units/HOT list
ACTION ITEMS
- 2x2 Model currently renovating
- Consistently check mini-models and vacant units to make sure they
are clean. Install multiple air fresheners in all of them

7. YTD Reasons for Move-out
See attached Avana at Forbes Creek YTD Move-out Report
Forecasted Occupancy
Forecast Occupancy
Avana at Forbes Creek Apartments
496 Units
444 Units Occupied as of Todays Date: 7/19/2016
89.52%
Week Ending: 7/31/16 Projected: Move In 9 Projected Traffic 21
Move Out 6 Projected Net Leases 5
Occupancy# 442 Closing ratio 23.8 %
Occupancy % 89.11%
Week Ending: 8/7/16 Projected: Move In 3 Projected Traffic 19
Move Out 2 Projected Net Leases 4

8. Occupancy# 445 Closing ratio 21 %
Occupancy % 89.72%
Week Ending: 8/14/16 Projected: Move In 1 Projected Traffic 23
Move Out 1 Projected Net Leases 7
Occupancy# 446 Closing ratio 30.4 %
Occupancy % 89.92%
Week Ending: 8/21/16 Projected: Move In 2 Projected Traffic 22
Move Out 2 Projected Net Leases 7
Occupancy# 446 Closing ratio 31.8 %
Occupancy % 89.92%