Acquiring new owners is essential to any growing property management business. Owners are looking for management companies that will make their lives easier and give them confidence that their properties are in the right hands. Are you maximizing your potential to draw in new owners?
Attracting new property owners is essential to growing your business, but with more than 150,000 property management companies out there, owners have a sea of options to choose from. This useful list highlights 7 ways you can engage new property owners and stand out from your competition.
- HAVE AN EXCEPTIONAL WEBSITE
AN OWNER’S SEARCH FOR PROPERTY MANAGEMENT SERVICE VERY LIKELY STARTS AT THE COMPUTER.
Perhaps the owner enters a general search in Google: “Property management companies in my area.” Does your website show up? It should, if your site has basic search engine optimization (SEO) based on popular industry terms and your geographic location.
- Clear images
- Quick search
Once owners find your website online and click on it, will they like what they see? Your website should be clean and professional:
- Go the extra mile, by having helpful features specifically for owners.
- Owner portal
- Blog with valuable content
- BUILD YOUR ONLINE REPUTATION
A GREAT REPUTATION IS A TIMELESS ASSET TO ANY BUSINESS.
When you make customer service a priority, you foster positive and lasting relationships with residents and owners. Once you know you have happy customers, don’t hesitate to encourage them to share their experiences. Ask them to rate your business online or via social media. Network online and join established associations or groups in the industry. This will allow you to stay aware of industry news as well as join the conversation to set yourself apart as a knowledgeable property management leader. Showcasing your industry and local knowledge is one of the best ways to attract new owners.
Being proactive about your online presence and networking helps build a stellar online reputation so new owners quickly recognize that you’re running a great business!
- PROVIDE AN OWNER PORTAL
Owners want to stay informed of how their properties are doing and want to view their statements on their own time. Offering an online owner portal that is built in to your website is a key selling point for property managers. When owners see how easily they can access their owner statements online and verify the status of their properties, it adds peace-of-mind value to your services.
- OFFER MODERN PAYMENT OPTIONS
TODAY’S RENTER WANTS OPTIONS
The more convenient and efficient options you can offer your residents, the higher rate of timely payments you will have. Today’s residents want options and the convenience of paying online. Plus, when you don’t have to spend time manually processing paper checks and money orders, you can spend more time marketing and filling your owners’ vacancies—they definitely appreciate that! Let your prospective owners know you offer these options; it shows how modern your business truly is!
- PROTECT THE OWNER’S INVESTMENT
ACCIDENTS HAPPEN MORE THAN ANY OF US PREFER. TENANT LIABILITY / INSURANCE / LEASE AGREEMENT
ABC News recently reported that 2 in 3 renters don’t carry insurance, and even if they do, it may not cover all the damages.
Wise property managers require tenant liability insurance in the lease to protect the owner’s property. For renters who have their own insurance, this provision easily can be removed.
This puts your management firm in the position of going above and beyond the call of duty to add value and protect the owner’s investment.
- USE WEB-BASED PROPERTY 6 MANAGEMENT SOFTWARE
USING MODERN SOFTWARE TOOLS SHOWS PROSPECTIVE OWNERS THAT YOUR PROCESSES ARE STREAMLINED AND ORGANIZED.
Your Monthly Owner Statement should be automated. The less time you spend shuffling through paperwork, filing, and mailing paper statements, the more time you have to concentrate on maintaining and marketing the owner’s property With your business running on the most up-to-date technology, you are more efficient and productive.
- USE THE LATEST PRICING TOOLS
AMAZING ONLINE TOOLS CAN HELP YOU PRICE OWNERS’ PROPERTIES FOR MAXIMUM REVENUE.
Rent comparison tools, such is found at AppFolio.com, help you analyze rental prices with comparable units across markets or geographical regions. Get ahead of the competition by maximizing revenue and displaying the property’s premium status. For the best value, use property management software with this functionality built in, rather than paying extra for the service.
This will set you apart as a knowledgeable industry expert who can capture the most rental revenue.