Sight Line
Novare Group sells views.
A picture is worth a thousand words—or better yet, a thousand dollars. To help buyers visualize the sweeping views from their future condos, the Atlanta-based Novare Group photographs the views from various building heights and showcases these images throughout sales centers, model units, project Web sites, and ad campaigns.
“Part of the draw of many of our buildings is the view,” says Chris Kritzman, senior vice president of marketing for Novare. “And not showcasing the view [in the sales process] is the same as not showcasing hardwood floors or appliances.”
Capturing these photos does take a bit of ingenuity. For buildings under construction, Novare hires photographers to take photos from atop a crane soaring 30-plus stories in the air. And for buildings not yet off the ground, the photographer will improvise by capturing images from the top of a neighboring building.
The company incorporates as many views as possible in its marketing efforts, with a particular focus on the projects’ Web sites, which often feature as many as 50 panoramic shots. At www.centennialpark.com, the site for the new Twelve Centennial Park in Atlanta, buyers and prospects can see the views change as the building virtually rotates. Kritzman hopes to ultimately go one step further and showcase the views from each individual unit. How’s that for selling power? – R.Z.A.
Cool Colors
Choose the right hues.
Can’t get enough of the rockin’ oldies? You’re in luck. Retro-inspired colors such as orchid and green antiquity are expected to be hot this year, according to Sherwin-Williams’ annual color forecast. The Virtual Re-mix collection is one of five color trend categories for ’07 sure to spice up any apartment or condo.
Another hot color trend: the return of beiges as featured in the Understated Elegance collection, which includes a mix of rich browns and grays. “We’re seeing the return of neutrals, but not what we saw in the past with very light shades,” says Becky Spak, a senior designer in the color marketing and design department of Sherwin-Williams, a Cleveland-based paint manufacturer. “We’re looking at more mid-tone values with a combination of warm and cool neutrals.”
The other categories include the natured-inspired Balanced Living collection, with grassy green inland and a spectrum of blues and golds; Sultry Origins, with a mix of spice-infused colors such as gingery and aurora brown and bold tones like fine wine and marooned; and Kinetic Contrast, which pops with intense accent colors including bohemian black, extra white, purple juneberry, and luau green. (For a complete list of colors, visit www.sherwin-williams.com.)
In addition to these specific color palettes, expect to see shades of gray—from smoky to silvery—make a big splash this year. “I see a lot of gray in fashion, and I see that continuing on into our home,” says Spak. “Cool metals in our appliances, lighting, and fine jewelry have all had a major influence.” So it looks like gray might just be the new black. – R.Z.A.
Resident Acquisition
Nip skips in the bud.
Residents who skip payments, write bad checks, leave significant damage, and commit other infractions cost multifamily companies nearly $5 billion a year. At the property level, that’s $3,000 to $4.000 for every incidence. And until recently, there was no easy way to access rental payment information and identify risky renters in an effort to curb those costs.
But RentBureau, an Atlanta-based agency that specializes in consumer reporting, has solved that problem. The company gathers renter data from participating property management entities every 24 hours to create standard or customized reports. These are made available at no additional charge through various screening services. Founded in 2005, RentBureau already has more than 1.5 million rental payment records in its database. Most companies already have the necessary “data use” or “data privacy” policies in place to accomodate their current operations for providing and using resident data.
“This information enables apartment managers to identify good residents, because they will be able to see payment histories and act on them accordingly,” explains RentBureau’s president and CEO, Eric Hartz. “This is a first-of-its-kind opportunity for the multifamily industry to effectively leverage its own data to create significant reduction in operating expenses at no cost.” Hartz says. – Margot Carmichael Lester