How to Stand Out To Property Owners and Grow Your Business
Growing your residential property management business into one that can proudly boast long-term clients, satisfied tenants, and a growing list of new property owners eager to enlist your help is going to take a lot of effort.
In an industry saturated with property management companies all claiming to provide the best management services, it can be difficult to stand out, even if you are highly qualified in what you do.
That’s why today we are going to look at some exclusive ways you can brand yourself as the very best (even amongst the toughest competition), and stand out to property owners seeking a property management company.
Top Ways to Get Noticed by Investment Property Owners
1. Do What Others Won’t
There is no shortage of property management companies on the market today.
Because of this, it can be challenging for property owners to discern between the good and the bad.
That’s why it is crucial you brand yourself as different from the competition. This will not only make you stand out immediately, it will encourage property owners to seek your help if they feel you offer an added bonus to the average management services most rental property management companies provide.
One great way of marketing yourself as unique is to do what other property managers won’t. For example, offer to help property owners find investment opportunities by creating a list of enticing properties available for sale in the regions you manage.
This way, property owners seeking to expand their portfolios will not have to conduct their own research, and you are readily available to manage their new investment once they finalize their purchase.
2. Utilize Modern Technology
It can be hard to keep up with technology these days, as it seems that things are always changing and advancing.
However, showing property owners that you can professionally manage their investments and care for their tenants using modern technology is a great way to stand out.
Here are some helpful ways you can leverage technology to attract new property owners:
- Make use of the best accounting software and show prospective property owners how secure, organized, and transparent your bookkeeping procedures are
- Make leasing properties for tenants easy by giving them the chance to sign leases online
- Ensure property owners that you take advantage of all platforms when it comes to marketing their properties – online classifieds, social media, Craigslist, Cozy, and even Zillow – so they know that their property is exposed to a large tenant pool
- Create a website, complete with a tenant and property owner portal, online rent payment system, maintenance and repair request forms, blog content with property management tips, and information about your services, so that both property owners and tenants know what to expect from your property managers
Though there are many property management companies utilizing the power of technology, you can set yourself apart from the competition by paying attention to the details. Ask what current property owners would like to see more of when it comes to technology, and take advantage of their feedback.
You can trust many property managers do not do this, and learning what existing customers want will only aid you in your effort to attract new clients.
3. Have Proof What You Do Works
It is not enough to make bold claims that you have low turnover rates, the highest ROI on rental properties, and satisfied property owners and tenants. Anyone can make statements like that, regardless of whether they are true.
Instead of falling into the trap of marketing yourself as the best, without proof to back it up, try the following:
- Include social proof (such as written or video testimonials) on your company website of satisfied property owners
- Create extensive reports documenting actual property vacancies, the number of property owners you currently have and how long they have done business with you, as well as how property values have increased over time, thanks to your upgrade and renovation tips
- Show your own research regarding market trends in the areas you manage so property owners can see they are receiving the highest rent rates possible
If you have tangible proof that you understand the rental property industry, have a proven track record of success with previous property owners, and are not afraid to show the actual documentation while consulting with prospective clients, you will see an increase in the number of interested property owners seeking your management services.
As a property manager, there are many opportunities for you to stand out to property owners. If you take the time to evaluate your business model, the type of customer service you provide, and the services you make available, you are sure to find weaknesses you can improve upon.
Though it may seem all rental property management companies provide the same services, you can set yourself apart by tapping into new technology and taking on management tasks others won’t.
Lastly, by taking the time to show how successful your business is, you will attract new property owners, encourage them to want to work with you, and grow your property management business as a result.