The thing that will make or break the success of a property you own is occupancy. Every unit that is empty is money you’re losing out on month after month. It’s time to get your building 100% occupied!
You know your property is a great space, but do others? People are looking for places to rent often, and depending on your location prospective renters have a number of choices to comb through. If you want your building to rise above the clutter, you need to let people know about it. You need a good property management marketing plan.
Listing your property online on sites like Craigslist and Rent.com is a good first step, but it’s a small one when you think about all the other spaces yours will be listed with. Here are a few other ways to get the word out about your property.
Make Your Online Presence Felt
The Internet is where most people will go when they’re looking for someone to list. In addition to the spots listed above, you can get more eyeballs on your property when it’s included in local online business directories like Google+, Yahoo! Local, Yelp and Internet Yellow Pages.
Use Your Expertise to Stand Out
House/apartment hunting can be a tedious process. You can bolster your property management marketing efforts by helping apartment seekers break up the monotony with engaging content on your site. You’re a real estate expert; show what you know by writing a blog post on something helpful to the reader like, “To Five Things to Look For When Apartment Shopping”. Not only is a post like this useful, but it’ll keep the prospect on your site longer, thus increasing the chances of them turning to you for a place to live.
Host a Memorable Open House
Marketing your property online is an effective affordable way to get word out about your building, but sometimes it’s good to have some old fashioned, face-to-face contact. Have an open house at your building for prospective tenants, but step it up a notch from the standard plate of chocolate chip cookies in the lobby. An outdoor event like a cookout is one way to stand out from the other places your prospects might be visiting.
Ask Your Current Tenants for Referrals
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If you’re managing your property right, you’ve already got a building full of satisfied tenants. Chances are they might know someone who’s looking for a place to live. Encourage them to spread the word about your property. Who better to help you with your property management marketing than people who already reside there? You can even offer incentives like gift cards, discounted rent or cash to tenants who bring in someone new.
It’s challenging to keep your building 100% occupied, but between the Internet, printed materials and word-of-mouth referrals from your current tenants, there is no shortage of ways to get your property in the forefront. If you stay consistent with your property management marketing, people will be reaching out to you for a place in your building.