Tried and true marketing strategies work for a reason: they are time-tested and withstand incoming and outgoing trends. That doesn't mean, however, that it's a good idea to rest upon one's laurels. By constantly staying abreast of new marketing trends, you ensure your property is being viewed by the widest audience possible - and an audience most interested in your community. For rent signs on the corner simply aren't cutting it in 2017!
Scott Safadi of Cal Bay Property Management recommends using a wide array of marketing strategies when it comes to filling vacancies in your community. Rather than simply relying on that for rent sign (or the digital equivalent, a Craigslist post), it pays to spread your information around the web. By honing in on your ideal tenant, you can market to just the kind of person you'd like to see apply for your vacancies.
This targeting process starts with reflections on what your community does best. Take a look at the role you serve in the area. Do you offer safer housing than your peers? Perhaps your apartments feature newer amenities than the competition. Or maybe you're the only community in the neighborhood that allows pets. Whatever your competitive edge, find it and use it to your advantage.
It's important to be constantly developing interest in your community before you need to market vacancies. Collect email addresses of interested folks at open houses and local events. Drumming up word of mouth in advance can ensure you have plenty of folks waiting on a unit to become available.
People respond to incentives, so give your tenants a reason to recommend you to friends and family. Offer up gift cards (or even simply the chance to win gift cards) or discounted rent in exchange for reviews. This not only increases your online profile but also allows potential tenants to get the real scoop on what it is like to live in your community. Whatever you do, though, do not solicit solely positive reviews. Honesty is the best policy, and prospective tenants will see right through glowing reviews. Instead, encourage tenants to give their real opinion when leaving reviews.
Those these are not traditionally thought of as marketing tools, they can give you the edge you need to stand out above the competition.
- Scott Safadi, Cal Bay Property Management
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