When you want to have more property management success, you need to attract quality tenants. There are several ways you can do that, and you want to focus on the options that give you the biggest benefits for your efforts. Working with a professional in the property management consulting space can help guide you toward the right ways to get good tenants interested in your properties.
Getting the best tenants is easier when you have effective marketing strategies. These can play a significant role in what potential tenants think about your company and the properties you're managing. Unfortunately, many property managers aren't clear about how to market effectively. Not only do you need to have good strategies, but you need to change what you're doing with the times and stay up-to-date with the latest trends.
Fortunately, you can get help and information to do that more efficiently and be more effective with your tenant-targeted marketing. Here are some of the most important ways to think about tenants and the kinds of strategies that will bring in the best ones for all the properties you're managing.
Property Management Marketing Strategies
Target the Right Tenant Audience
To get the right tenants into your properties, you need to make sure you're targeting them correctly. To do that, you want to start by identifying the profile of an ideal tenant for each specific property. Think about who would like to live in the property you're marketing. What do they do for fun? What kind of job do they have? Are they single, or do they have a family?
The more you envision this ideal tenant, the more you can target them as the majority of your audience when you market the property. You wouldn't market a studio condo downtown to a big family with a dog, for example. You also probably wouldn't market a large property on acreage to a single person.
That doesn't mean they couldn't live there or they wouldn't be a good tenant. It's just not as likely that they would be interested in the property, so they're not the most significant part of your market.
Tenant demographics matter, as do their preferences and the kinds of future goals they have with long-term renting or buying a home in the future.
When you pay close attention to property management marketing and focus on how you can use it to connect with the people you want to bring into your properties, you reach the right people. That helps you keep properties rented and also reduces the budget spent on unsuccessful marketing that doesn't reach its intended audience.
Optimize Property Descriptions and Listings
Property descriptions and listings need to be compelling to get tenants interested. You can have all the great property management strategies in the world, but if your listing doesn't interest the potential tenants it reaches, that's going to damage your marketing and acquisition efforts.
You want to showcase the benefits and features of every property you manage. There are some specific ways to do that, including making a list of the best features, understanding what your tenants are looking for, and addressing their pain points. If you can show potential tenants how your properties solve an issue for them, they're more likely to rent from you.
It's vital that tenants feel like you "get" them and what they're looking for in their next property. The right property description and listing can go a very long way toward that, and that will help you bring in quality tenants who will be a good fit for the vacancies you're trying to fill. That will reduce empty properties and help you keep revenue high and owners happy.
Use High-Quality Visual Content
Good quality pictures and virtual tours can catch the eye of potential tenants, and that can increase the chances that they'll contact you about the listing. When you work with a professional who handles property management consulting, they'll encourage you to make the listing look as good as possible. Many people are very visual, and they want to see a beautiful place to call home.
While professional video and photography content is an expense, there are potential benefits that can make it worth the price and more. from using property management technology Good pictures will catch the eye of tenants when they're looking through listings, and a video can help them understand the layout of the space and what it would be like to live there. That can lead them to choose your property over others.
Leverage Online Channels for Advertising
When you want to reach a wider audience, online advertising is the way to go. Because millions of people around the country and the world have access to the internet, your property management marketing efforts will go much further. After all, the perfect tenant for your property might be someone who currently lives a long way away and is looking to move for work or other reasons.
Google Ads and similar platforms are excellent choices for social media advertising because you can tailor them the way you want and maximize the value of any money you spend on them. While it's entirely possible to market your management company and its properties for free by posting on social media, you also want to use paid ads to target more specific markets and potential tenants.
Implement Good SEO Techniques
When you optimize your property listings for search engine results, the search engine optimization (SEO) choices you make will matter. Good SEO is about more than using single keywords common to your industry. Long-tail keywords and phrases are also important since they narrow down the topic and help anyone searching for a specific piece of information find what they need.
Property managers need to make sure they're also focusing on local SEO because that can significantly increase how easy it is for potential tenants to find the right properties. Make sure you use the keywords you've decided on, coupled with the location of the property. Then, potential tenants can locate what you're offering more easily and won't have to sort through potential rental properties that aren't in the right location.
Build a Website That Engages and Informs
A property management company's website is a hub for the information tenants need and want. Your website should be part of the property management strategies you use for marketing vacant rentals or upcoming vacancies to potential tenants. When they can see the available properties and other data they're interested in, they'll stay on your site and continue to explore.
When you want to make sure your website is informative and user-friendly, there are some tips you can use to help create or update it. For example, you need to ensure all the links work and send site visitors to the right place. Your site should also work well on mobile and needs to load quickly. Being willing to accept feedback from visitors and adjust accordingly can make all the difference.
Increase Tenant Engagement Through Social Media Marketing
Keeping tenants engaged and helping them communicate with your company is a lot easier with the right social media marketing strategy. When you seek out property management consulting guidance, make sure to talk about how you use your social media. Tenants need to be able to get hold of your property management company quickly, and social media can help with that.
Building relationships with current and potential tenants can also be done through social media. Some of the main strategies for doing that include having a dedicated person to manage your accounts, responding quickly to comments and mentions across platforms, acknowledging reviews, and posting on a schedule that shows your company is active and interested in the interaction it's getting.
Showcase Reviews and Testimonials From Tenants
Both testimonials and reviews from current and former tenants can go a long way toward attracting new tenants to your property management company. It's a good idea to get permission to use these comments as part of your property management marketing strategy so you can show potential tenants how much your current and past tenants like working with you and the properties you represent.
You want to manage your company's online reputation because developing a bad one could hinder your efforts and future chances of success. If there are negative reviews or other comments, reaching out to resolve the issue is essential. Don't ignore the problem because potential tenants will be looking to see if you respond to negativity and work to make things right for any legitimate complaints.
Market the Right Way to Acquire New Tenants
Overall, the right property management strategies are the ones that attract and acquire new, quality tenants for your property management company's vacancies. When you implement these strategies, you can focus on tenant acquisition and retention through robust strategies that bring in the kinds of tenants that are perfect for the properties you represent.
Ready to learn more about the right strategies for marketing your property management company to tenants? Schedule a free consultation today, and let us help you make the right marketing moves for the future.
We will review your business plan and make sure you are on track.