Everybody needs a place to live. So why is it so hard for property managers to find leads? Trouble finding renters can make it tempting to drop prices and profits. Instead of sacrificing your bottom line, focus on strong lead generation. It's easier than it sounds. Here are four lead generation tips for property managers who want to boost their sales.
Use Listing Sites and Groups
Online listings are a great way to reach a large number of potential tenants. From Zillow to Craigslist, there are a lot of great places to list a unit and find leads.
You should also consider taking advantage of local Facebook groups. Many colleges have groups that help students find housing. If you rent to this demographic, listing your property there can help.
E-Mail Marketing Matters
Any list of lead generation tips for property managers should emphasize e-mail marketing. A lot of people see this as an old-fashioned tactic. But there are ways it can help you gain quality leads!
The first is creating a local newsletter. It's easy, and you can use it to highlight events in the community and promote brand recognition! Another strategy is keeping a database of former tenants. When new units are available for rental, e-mail marketing makes it easy to use them as potential leads.
The biggest benefit of e-mail marketing is the low cost. You can build a solid e-mail marketing strategy for less than $100 a month while seeing huge gains. So make sure it's part of your arsenal.
Develop A Referral Strategy
A strong referral strategy can be the center of a lead generation method. But it's also easy to build one that doesn't work. To do it right, get referrals from both your tenants and landlords in non-competing areas.
Getting tenants to give referrals should be easy. As long as you get along with them, you can encourage them with gift cards and small rent deductions. Leads will trust people who have lived in your apartments, making this a great strategy.
If you know landlords in other markets, you can also ask them for referrals. This can take the form of an agreement where they suggest your apartments to tenants who are moving,. You'll do the same for them. This is a great idea, but it only works if you both have strong tenant relationships.
Focus On Your Reputation
You cannot generate leads without a good reputation. There are a few ways to make sure that it's strong. First, provide good apartments. No lead generation tips for property managers work without this. You'll also want to see what people are saying online about your units. If bad reviews haunt you, look for reputation service providers.