June 7th, 2019
52 ways to grow your rent roll
As a property manager, owners want to know how you can best manage their properties and simplify their lives. They want to be reassured that their properties are in the best hands but with over 35,000 real estate businesses in Australia alone, it can be tough to cut through the noise to attract new property owners and grow your management business.
Without further ado, here are eight ways to attract new property owners:
Think of your website as the front door of your business. The easier it is for property owners to find you, the more likely they will step through the door. This means you have to build your website with search engine optimisation (SEO) in mind so that when an owner searches for “property management business near me” in Google or Yahoo, they’ll find your business.
To do this, the content of your website must contain specific SEO keywords related to property management and your geographic location. Not sure which keywords to use? Here’s how to do keyword research for SEO.
As your website serves as the front door of your business, it’s essential to keep it clean and professional or else owners won’t feel inclined to stay and browse. Within your website, you need to present images and information in a clear and concise way. This way owners can better understand the scope of your services and your points of differentiation.
When developing content for your website, it’s important to create consistent, quality content for owners to show how you can help simplify their lives. This can be in the form of blog posts or landing pages that answer specific queries owners might have or resources to help them find more information. This not only helps with SEO but also establishes your business as an authority in your industry which helps you generate leads in the long-run.
Additionally, you can send out weekly or monthly newsletters to help keep your business top of mind. Studies show that the more someone is exposed to something, the more favourably they will perceive it simply because it’s familiar.
More often than not, people will start their customer journey by searching for information online so developing your online presence is crucial to attracting new property owners. Be sure to list your business on online directories like Google Business Listings and stay active across your social media channels. The greater your online presence, the easier it is for property owners to find your website and engage with your business.
When you have quality content for owners on your blog, you can cross-post it on your social media channels to amplify your reach and set yourself apart from other property management businesses.
Also, once you’ve identified a happy customer, don’t hesitate to ask for a testimonial or review of your business on Google or Facebook. This will help build your online reputation and owners will be able to see the benefits of working with you.
Another way to attract owners is to expand your network, both online and offline. There are plenty of property management groups, associations, forums and networks online. Not only will they help you keep up with industry news but you can also contribute to conversations to showcase your industry knowledge.
Meanwhile, networking offline is crucial to your reputation in and around your community. You can try volunteering and participating in local events to build relationships within your community. Word of mouth is very powerful so the more people you know and the more favourable your impression is, the more owners you can attract.
Providing an Owner Portal is a great way to set yourself apart from other businesses and attract new property owners. With an Owner Portal, your owners can log in and check on the status of their properties and view their financial statements, photos, bills and documents at any time.
Not only does this facilitate communication and increase transparency but it also provides peace of mind for owners. They’ll be able to rest easy knowing that their property is in good hands.
Marketing is crucial to putting your brand name out there and keeping it top of mind.
Besides using social media and optimising your website, you can invest in paid marketing to increase your reach and exposure. This can include paid Facebook advertisements, distributing brochures, sponsoring a local event, advertising in the local newspaper and using Google Adwords, just to name a few.
To attract new property owners, be sure to create ads with their pain points in mind. Consider how you can simplify their lives and use imagery and copy to communicate your business’ value to them. Be sure to include a specific call to action to encourage them to engage with your business.
Not using cloud property management software is one of the biggest property management mistakes. Compared to legacy software, cloud property software allows for magical automation, streamlined processes and access from anywhere, anytime. This means that you can simplify your workload and use all the extra time to market your business and attract new property owners instead.
Moreover, using modern tools and up-to-date technology only serves to show owners that you’re innovative, organised and professional.
According to a study conducted by Nielsen, 83% of respondents say they trust the recommendations of their friends and family. That’s why referral programs work wonders for attracting new customers and prospects.
As a property manager, you can implement a referral program that rewards the referrer once the property owner signs up for your services. This can be in the form of gift cards, cash backs or credit on their accounts.
Alternatively, you can provide incentives for both parties. This way, not only will you attract new property owners, your existing clients will also thank you for it!
Hopefully this blog post has helped you attract new property owners and grow your property management business. You might also be interested 52 Ways To Grow Your Rent Roll, How To Find Good Tenants and Are You Appealing To the Modern Landlord?.
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