You cannot be successful in property management if you don’t have enough occupied properties to manage. But keeping vacancies as low as possible can be quite challenging, particularly in heavily populated areas where there are plenty of options for renters to choose from. A solid marketing strategy can help position your properties in the best possible light and increase your rental and retention rates. Here are a few tips from our experts to get you started.
Maintain your website.
According to the National Association of Realtors, nearly half of all home searchers ultimately settle on a property that they found on the internet. That number would undoubtedly be higher if we factored in commercial real estate renters as well. Chances are, you already have a website for your property management company. That’s only have the battle, however. You must commit to keeping your online presence up to date at all times. This will enable you to maximize your online lead generation.
Don’t skimp on photos and videos.
There are plenty of areas for a property manager to cut costs, but the quality of the photos and videos of your properties should never be one of them. As mentioned, most prospective renters begin their search for residential or commercial properties online. If you don’t put your best foot forward through high quality images and video content, you will not effectively capture their attention and they will likely keep searching. Make sure you are investing adequately in this area. It will pay off in the long run.
Go high tech.
If a picture is worth a thousand words, a 3D property tour must be worth a million. Not only does 3D technology place your business at the forefront of the competition, but it creates a level of convenience that is sure to impress your prospects. It’ll also save you time by lowering the demand for in-person property tours. If you can’t afford 3D, you should at the very least offer regular video tours for your prospects to view.
Provide something of value.
Most property managers know the areas where their properties are located extremely well. You can use this expertise to attract local prospects to your website by creating and maintaining an active blog that offers valuable content. If you’re not sure where to begin in terms of topics to write about, try listing out the top questions people in your area might ask, such as where the best coffee shops are. Then, simply turn the answers to those questions into SEO optimized blog posts.
Most of these suggestions are relatively simple and straightforward, yet you’d be surprised at how few property management professionals actually use them. By implementing some or all of the above recommendations, you will most certainly position your company at the head of the pack, gain more visibility online and ultimately capture more quality leads to keep your vacancies at a minimum.