Rental Property Investor · Oklahoma City · Member since 2021 · 108 posts · 103 votes
We started out as self managers, and quickly fell in love with the STR industry. So we started our own STR property management business last year. Our success has been fantastic is such a short period of time. We've grown from 2 properties up to 15+. We know what we offer to homeowners is extremely valuable, but we want more clients.
I’m looking for new ideas as to how I could get more clients. Referrals have been our best avenue to new clients so far, but that’s kinda slow and we can’t really control the pace of that. We’re using other long term tactics to get our name out there more like building a social media presence. But for a real go-getter like myself that wants to get the best value for my time and get new clients right now, what’s the best approach?
For more context, we offer both property management and cohosting. Property management is more for our markets in Oklahoma and Texas, but we’re trying to expand into new vacation rental markets. Cohosting we can offer nationwide and we have properties all the way up in Maine under this model.
Drop me some new ideas so I can get after it TODAY and find some new clients!
@Wilson Vanhook Have you considered the "farm" strategy in the areas your properties are located? Is it a bad idea to team up with a realtor to do this?
Utilize tools such as PropStream or Batch Leads to identify cash buyers within Short-Term Rental (STR) communities and gather their contact information through skip tracing techniques. Additionally, prioritize attending local Real Estate Investors Association (REIA) meetings, particularly those featuring guest speakers who specialize in the field of Short-Term Rentals (STRs).
@Wilson Vanhook The realtor you work would be familiar with the real estate farming strategy to generate consistent business from a specific geographic area. Agents “farm” a specific neighborhood by providing consistent value and attention—and cultivating relationships—thereby generating leads that evolve into long-term clients and reliable business.
@Wilson Vanhook Congratulations on the success of your STR property management business! Here are some actionable ideas to help you get more clients and expand your business even further:
Utilize targeted online advertising: Consider running targeted ads on platforms like Facebook, Instagram, and Google Ads to reach homeowners in your desired markets. Focus on showcasing the benefits of your property management and cohosting services, highlighting your success stories, and offering a compelling call-to-action.
Establish strategic partnerships: Collaborate with local businesses, such as real estate agencies, vacation rental suppliers, cleaning services, and tourist attractions, to establish referral partnerships. Offer incentives for referrals and create a mutually beneficial relationship that expands your network and client base.
Leverage the power of customer testimonials: Request testimonials from your satisfied clients and showcase them on your website, social media, and marketing materials. Positive feedback builds trust and credibility, making potential clients more likely to choose your services.
Develop a strong online presence: Enhance your social media strategy by actively engaging with your audience, sharing valuable content, and showcasing your expertise. Provide useful tips, local insights, and insider knowledge about the vacation rental market to position yourself as an authority in the industry.
Network at industry events: Attend vacation rental conferences, trade shows, and local networking events to connect with homeowners, industry professionals, and potential clients. Take the opportunity to share your success stories, exchange ideas, and establish meaningful relationships.
Offer educational resources: Create informative blog posts, e-books, or video content that addresses common questions and challenges faced by vacation rental homeowners. Providing valuable resources establishes you as a trusted source of information and can attract clients who are seeking guidance and support.
Explore targeted direct mail campaigns: Identify specific neighborhoods or communities in your target markets and send out targeted direct mail campaigns. Craft compelling offers or promotions to pique the interest of homeowners and drive them to reach out to you.
I'm a community leader for Airbnb. Airbnb "owns" several regional host Facebook groups (ex: Pensacola/Destin area; Panama City area), which you can join if you have an Airbnb listing link to provide (you might be able to just explain that you manage Airbnbs and see if they will let you in when you request to join - not sure). That's a good way to network, but don't come off as salesy. As with BP, go in, provide value first, and go from there.