Marketing 101 dictates that in order to be successful, you need to know your audience so you can cater to their specific needs, desires and preferences. Given that millennials are now officially the largest generation, and perhaps more importantly – that 60% of them choose to rent rather than own – it only stands to reason that property managers and landlords need to understand who these people are and what they are looking for in terms of amenities. To help you better position your properties so they’re more attractive to younger renters, here are a few things to consider.
As America’s largest living generation, millennials have already reshaped a number of industries, from retail to restaurants. It’s only logical that this massive segment of society is also having an impact on the real estate market. Whether it’s taking out mortgages or choosing to rent instead of own, millennials are making their mark across the country and around the globe. As a property manager, staying on top of what’s trending with Gen-Y is a great way to position yourself for success, both currently as well as in the relative future. Not sure what’s up with this generation? Let’s take a look.
Trade shows can be a powerful way to market your property management company as well as your own personal brand. A gathering of industry experts, media personnel and prospects who are ripe for the picking – what’s not to love? Yet ask any busy property manager and you’ll likely get a list a mile long of excuses not to attend. Is attending trade shows an investment of time and effort? Yes. Are they worth it? Absolutely. If you’re still grappling with some objections, here are five compelling reasons you should reconsider.
One of the keys to success in an industry that’s as fast-paced as commercial property management is staying abreast of the latest trends. Things evolve at a rapid rate, so the ability to shift gears and address the changing demands is essential to remaining competitive. To make things a little easier for you, we’ve done some of the legwork and uncovered four commercial property management trends that we think should be on your radar. Take a look below.
Staying relevant in the ever-changing property management industry means staying in tune with all the latest trends. For years now the role of technology in the world has evolved. Technology and innovation are embedded in society and business. Currently mobile technology serves a great advantage for property managers. Beyond offering a mobile friendly website, property managers can leverage mobile applications to streamline business operations.
Your HOA board plays a key role in both the short and long term planning within your property management business. In order to fulfill their responsibilities, board members must have access to certain information. In particular, they need details on company financials.
The real estate industry is booming, and property managers play a crucial role in this dynamic ecosystem, keeping investment properties operating like well-oiled machines and thereby maximizing profitability. Of course, with those ups also come the inevitability of risk, whether it be damage, injury, theft or something else. To hedge their bets, property managers must take certain precautions, the most important of which is purchasing the right insurance coverage.
Chances are, by this point you’ve at least created a LinkedIn account. But then what? Maybe you haven’t logged in for months, or longer. Or, maybe you’re one of the few who hasn’t bothered with LinkedIn at all. Perhaps you figure, you’re happily employed, possibly even a business owner, so what’s the point?