Whether you’ve just acquired a new asset, are wrapping up renovations, or are breaking ground on a new construction project, there is one thing that all apartment homes need: a memorable name. As more and more communities pop up in cities across the country to meet renter demand, a catchy and unique name makes standing out in a competitive market a little bit easier. If you’re grasping at straws trying to find just the right name for your new community, we have some helpful tips and tricks to get you started on the journey of naming a multifamily asset.
1. Think About the Target Customer
When naming a multifamily asset, one of the most important things is keeping your target audience in mind. If your ideal renter is a single millennial, for example, different words and phrases will resonate with them than with an empty nester who has different needs and priorities. Identify the traits that appeal most to your core customer by doing market research and a competitive analysis of the surrounding area. Then, leverage that information to brainstorm names of different styles, lengths, and formats to create a wide array of initial options.
2. Consider Local Conveniences and Attractions
Your property’s location is also an amazing starting point for naming a multifamily asset. Because your location is totally unique to your property, it can serve as the ideal anchor for the name. Consider incorporating well-known street names, historical markers, and other points of interest that you can leverage to influence the name. That way, your community becomes as recognizable as the city’s most iconic attractions.
If your community is in a city or neighborhood that has distinguishing characteristics, you can also use those words or phrases to set your assets apart. In New York City, for example, you could utilize words like “Skyline” or “Hudson” to take advantage of words and phrases that people naturally associate with the city.
3. Leverage Community Amenities
If your property is the only one in the area with an indoor pool or you have an amazing roof deck, use these distinguishing features to your advantage when brainstorming your name. Think about words related to whichever amenity you want to highlight; a roof deck, for example, is the perfect opportunity to leverage words like “air,” “sky,” or “heights.”
Don’t forget to think not only literally, but also abstractly, about naming options. Because the sky is blue, you could leverage words like “azure” or “indigo.” You’re only limited by your creativity!
4. Stay Consistent with the Brand Style
If your community is a luxury asset, you’ll want to be sure that you keep your name elevated and sophisticated. Similarly, if you have a more casual and accessible vibe, you’ll want the name to fall in line with that style. Keep this in mind when brainstorming your names to ensure that you don’t alienate your target audience with a name that sounds off-brand or unapproachable. Once the perfect name is selected, a thoughtful logo design and brand style guidelines will bring it all together to get your message across.
5. Check Name Availability
You’ve landed on the perfect name, but naming a multifamily asset isn’t the end of your naming journey. Now it’s time to do your due diligence. Perform a business name search to ensure that no other communities or companies are operating under your chosen moniker. You should also check for available URLs for your website and social media handles to create enhanced brand recognition. If one (or more) of these are unavailable, you might want to reconsider for consistency.
6. Finalize with Legal Council
Once you’ve done your own vetting, it’s time to bring in the experts. Consult with your legal team to get all the paperwork in order to ensure your name is yours. From purchasing domains to copyrighting or trademarking, lawyers can more easily navigate the entire process from start to finish to ensure that all of your paperwork is buttoned up—which means you don’t have to go back to the drawing board in the future.
If you still can’t find a name that perfectly embodies your community, we’re here to help. As multifamily marketing experts, we’re experienced in every element from naming a multifamily asset and brand identity, all the way down to crafting marketing emails and direct mail campaigns. We’ll put our expertise to work for you to help you find the ideal name for your community.