7 Fantastic Property Management Marketing Ideas
To be a successful property manager, you've got to be able to market those properties under your control to potential tenants in a successful way. If you can't get people inside those properties, then you aren't going to be making any money. Here are some proven methods that have been used in the past by property managers just like you to reduce the vacancy rates that were becoming problematic.
1. Network Like Crazy
People won't rent from you if they don't know anything about you. This is why it is important to network within your local community as much as possible. The more you network, then the more you'll be able to spread word of mouth opportunities about the open properties that you have for rent.
2. Look For Stability
To have stable rental income, you must have tenants who have stable jobs. Research the top employers that are within your community and approach the ones that have the lowest turnover rates. Offer specific discounts to employees of these organizations to encourage higher occupancy rates.
3. Team Up
People love to support a good cause. If you team up with a charitable organization, then the tenants who are renting from you will feel like they have a natural association with that charity. This provides a sense of value to them. Every time they pay their rent, they are also making a contribution to the charity that is your partner. Make sure to look at local charitable options first.
4. Stand Out
You have to take on a form of marketing that no other property management agency is doing right now. If no one else is doing billboards, then you create billboards. If no one else is hiring sign spinners, then you hire sign spinners. The goal is to stand out. If a potential tenant can remember you, then they'll be more likely to rent from you.
5. Go Where the People Are
What's the one place in your community that everyone goes at some point during the week? For many communities, the answer to this question is the grocery store. After all, people need to eat, right? If you can put signage up at the grocery store or other popular locations in your community, you'll create a level of brand awareness that will automatically make you competitive.
6. Host a Photo Contest
If there's one thing that everyone loves to earn, it's free money. Create a photo contest where you invite the general public to come into your rental property areas. Have them take photographs of what they see and then award prizes to the winners. You'll get some amazing photos that can be the foundation of future marketing efforts and you'll also get a lot of extra exposure for your rental properties.
7. Bring It Home
Do you have restaurants that provide home delivery services? If so, then you have an amazing opportunity to get one-on-one interactions with local people. Offer to take over the delivery services of a popular restaurant one or two nights per week and then just start networking with the customers who are ordering takeout. It's a good way to make a memorable first impression.
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