Do you know how much revenue you’ve lost over the years due to tenant turnover? It’s a common and very costly problem for property managers. Rental vacancies can impede cash flow, increase workload and ultimately impact your bottom line. And it’s an especially important issue to address before the housing boom begins to wane. To help you get a plan in place now and hedge your bets for a more secure future, here are eight ways to improve tenant retention.
With maintenance as one of the top activities for property managers, finding qualified, experienced and reliable contractors is essential. Unfortunately, it’s also easier said than done. Whether residential or commercial, properties must be tended to on a regular basis in order to remain profitable.
Ever wonder why we do the things we do? Mostly, it’s thanks to certain psychological truths that make human behavior predictable. When you gain an understanding of these basic truths about humans – your property management customers in particular – you can improve the quality and performance of your marketing. Let’s examine three basic psychological concepts that, when harnessed, have the potential to boost your conversion rates and your bottom line.
Let’s face it. Property managers are a dime a dozen. The only way to realize true, sustainable success in such a saturated industry is to find a way to cut through the noise and stand out in a crowd. You don’t want to be just another fish in the sea. You want to position yourself as a leader and a trusted resource in the industry. To do this, you need to build a business that can’t be replicated. And if you want different results than your competitors, you have to be willing to do things differently. Here are four ways to do just that.
It’s happened to the best of us. Those difficult clients that never seems to be happy, no matter how hard we work to satisfy them. The ones who complain about everything or are slow to pay. The ones who drain your energy and challenge your passion. Difficult clients are par for the course in every industry, including property management. It’s how you deal with these demanding individuals that can make or break your success. Here’s how to handle any situation without losing your customers or your sanity.
They say a picture speaks a thousand words and perhaps no industry is more impacted by that phrase than property management. Attracting attention to your properties is a fundamental part of ensuring that your company remains profitable, and it all starts with eye-catching images. After all, first impressions are everything. Does that mean you have to hire an expensive photographer? Not necessarily. In fact, there are things that even a novice can do to really make their photos “pop.” Here are a few of those things below.
Most business owners don’t start their own company to stay small. Assuming that you’re not among the minority, chances are growth is one of your top objectives. And there are certainly plenty of ways to achieve that goal. One thing that you may not be considering, however, is that the growth you’re seeking may be more easily achieved through acquisition. Better yet, this strategy can be adapted to businesses of any size, so even if you run a relatively small operation, acquiring another property management company is entirely doable, provided you want to do one of the following.
Links have long been a significant component of how search engines determine a website’s trustworthiness. Initially, the more links a site had, the more credible it was and therefore the higher it would rank in the search engine results. To prevent site owners from engaging in questionable tactics in order to obtain more links, however, Google has cracked down, ensuring only sites with quality backlinks rank well. If you’re willing to put in the work, here are a few ethical link building methods that can help your property management website perform better in the search engines.
Landing pages can do wonders for generating more quality leads for your property management company. But that’s not a guarantee. In order to produce results, your landing pages must be properly optimized for performance. How? Well, there are dozens of ways. First and foremost, however, you want to be sure your landing pages contain certain key elements that are critical to success. Let’s take a look at a few of these must-haves below.
There’s no debate as to whether or not your property management company should be using social media. But getting social right requires more than just publishing the occasional tweet or update. In fact, there’s a certain science to it. Thankfully much research has already been conducted to help determine what numbers are optimal for generating the highest engagement levels.