Property managers wear many hats, and one they doff everyday is the marketing cap. Today’s savvy property investors won’t settle for a one-size-fits-all approach to marketing their properties. They know the key to making more money is a customized marketing plan optimized for each property’s (or unit’s) unique attributes, including geographic area, demographics, architectural style, and amenities, to name a few.
What results do property investors expect from a finely tailored marketing approach? In a nutshell, the highest possible rents, for the longest terms, with the best possible tenants, accomplished in the least possible time. Simply listing properties to rental websites no longer cuts it; investors want to see a new and carefully crafted marketing plan every time their properties are available. This approach ensures that marketing strategies and tactics align with new developments in the rental market while highlighting each property’s distinct advantages
Rent that property near the on ramp
Here’s a tactical example, focused on a property beside a loud and bustling highway. Let’s assume you’ve done your homework and soundproofed the property so it’s quiet enough for sleeping deeply and enjoying a peaceful cup of morning tea or coffee. You’ll want to showcase those noise-reducing features and show the property to prospective tenants during the loudest possible time, rush hour. What initially might have been a deal-breaker can be presented as a benefit, especially if the tenant likes being near the highway for an easier commute.
Continuing with this example, you can target this property to the appropriate segment of prospective tenants in your database. Playing matchmaker in this way boosts the likelihood that you’ll rent the property to the ideal tenant, filling the vacancy as quickly as possible. (And don’t forget to let your salespeople know about this property’s unique traits; the sales team may have clients who are unable to find a home to buy and eager to rent the available property in the mean time.)
7 Habits of Highly Successful Property Managers Guide
You will discover creative ways to identify and eliminate routines that are no longer benefiting your business.Download
Tailored marketing shows clients you’re on the ball
Actively promoting your tailored approach to marketing sends prospective clients the right signals. It shows them you can be their trusted advisor every step of the way. Have some samples of your best marketing plans ready as evidence that your approach gets results.
You and your team specialize in your market area and are experts at showing your clients’ properties. You know how to determine optimal rental rates based on comparable properties on the market and how to attract the best possible tenants. Tailoring your marketing efforts to reflect your specialized expertise and the distinctiveness of your properties is one of the most effective ways you can build trust — and win more clients.Read more on Marketing