With the wealth gap between generations continually growing, and an influx of overseas investors in recent years, the face of a property owner in Australia can take many different shapes. However, whether it’s the first-home buyer looking to get a leg-up on their mortgage, or an investor who’s purchased their fifth property, appealing to landlords from different demographics doesn’t always require multiple marketing approaches.
In this fast-paced, technology-driven real estate climate, it’s not uncommon that the majority of modern landlords have already conducted their own research. With a wealth of information available at the click of a button, it’s likely that landlords are familiar with the services provided from various property managers. It’s this demand for having access to information, at the drop of a hat, that can allow property managers to secure landlords as clients.
Capitalising on this desire to be constantly connected, here’s how property managers can appeal to modern landlords:
Go Mobile: Going without our smartphones for a day can feel like armageddon. With such a reliance on them, it’s rare anyone in this day and age is without their trusty pocket pal, making it a wise idea to add SMS communication for both general updates and marketing. Text messages are more likely to be received and responded to quickly, as even emails can be seen as old-fashioned, particularly to younger owners. Of course, sending out a raft of text messages can be seen as ‘spamming’ your clients, so only do so if they are completely relevant. A built-in SMS function in your property management software can allow property managers to automatically text owners and/or tenants with vital information they would expect to be updated with, such as job reports or scheduled inspection notices.
Get Social: We all love to share. With the average person now accessing five social media accounts, and spending over one hour and 40 minutes browsing through them, property managers who maintain active social pages have never been so well poised to engage with prospects and existing clients, and successfully grow their rent rolls. It also gives the option for current clients to share their experiences with their own circle of contacts. On top of that, younger adults tend to use search engines to find information they need. This doesn’t only include major search engines, but social searches. Being present on major social channels and local business directories can allow potential renters to find properties, which gives you the potential to show landlords your ability to connect with potential tenants, fast.
Establish Transparency: Buying a property is the biggest purchase most of us will ever make. When you’re hired to manage that massive investment of theirs, owners expect transparency in the form of regular communication. Would a lick of paint go a long way to keeping a great quality tenant happy? Providing updates and showing the landlord you genuinely care about the property and their interests can go a long way to building a strong relationship. Suggesting pre-emptive maintenance, carrying out regular inspections, and offering advice to owners on how to best budget and potentially increase the property’s rent potential, are all signs of good property management that won’t go unnoticed. Using property management software that features an Owner’s Portal, will allow your landlord unparalleled access to their property’s status, including inspection reports, financial reports, and an activity feed showing the progress of any current jobs.
While it’s likely you list your services, of which your potential clients are likely to be well aware, are your fees and associated costs obvious? Landlords may leave with a sour taste in their mouth if they feel they have been stung with any hidden costs at any stage. Being clear and upfront with financial costs can prevent any meltdowns later on.
Get On The Ball: Showing off a strong market knowledge can help you stand above the pack. Have a thorough understanding of the local market and surrounding area, as you don’t want to be brought unstuck by any questions that aren’t covered in the rental market analysis. What is the house next door earning in rent each week? Why are they able to earn an extra $50 per week? Providing clients with an accurate analysis of rental potential, based off an in-depth knowledge of the neighbourhood, helps you stamp authority as the local expert who is best served to manage a potential client’s property.
It should also go without saying that your appearance is everything. With most first impressions being made in the first 7 seconds, showing up well-presented is your first task. Your reputation can live or die by the way you present and interact with clients in person, which can be vital to customer satisfaction and potential referrals.