Going Beyond Traditional Marketing: Innovative Strategies for Property Managers

May 30, 2024 | Owner Education, Property Management Education

Marketing basics are well-understood even by self-managing landlords and rental property owners who are new to the market. You know what you have to do. Prospective tenants are looking at hundreds of rental listings; you need to help your property stand out with a great listing that includes stellar photos, descriptive text, and all the pertinent information such as rental amount and whether pets are accepted

You know the listing is important. Other traditional marketing techniques such as yard signs and open houses are also easy enough to pull together when you have a home to rent. 

All of this has been done before. 

What can you do that’s more innovative and creative to really help your rental property stand out in a crowded Grand Rapids rental market? 

We’ve been leasing and managing properties long enough to know that the traditional list-and-post strategy gets really old, really fast. 

Here are some of our more interesting ways to market your property. 

Be a Social Media Influencer

Social media can be even more powerful than popular online rental sites like HotPads and Zillow. That’s because there’s opportunity for engagement. When you share a listing on Instagram or Facebook, people can comment on how great the yard looks or what lovely kitchen appliances you offer. Friends and contacts can like the post, share it, tag friends of theirs who may be looking for a new rental home. 

To leverage what social media can do for you, make sure you: 

  • Understand the audience. There’s a different demographic on Facebook than on Snapchat. 
  • Keep your contact information clear in both the listing and on your profile. 
  • Use Facebook marketplace instead of just posting to your page. There’s an entire section for rental properties.
  • Consider social media ads. You can boost your post and increase views by spending just a few dollars on your post.

When you post your property for rent effectively, you’ll find that word spreads quickly across social media, putting your rental home in front of tenants who are actively looking. 

Introduce Yourself to Employment Agencies and Relocation Companies 

You might not even have to market your property at all, if you have a line of people waiting for rental homes to become available. 

Relocation companies around Grand Rapids like to work with real estate agents and property managers to place individuals and families into homes when they’re moving into the area. This can be a quick short-cut for you, when you have a property that’s available at the same time that a client of theirs is looking. 

Employment agencies can also keep your information handy when they have a client who is looking for a home. These partnerships will help you rent your home quickly, and to a qualified tenant who you know has a job and a reliable source of income. 

This type of partnership is a win for everyone. You will enjoy getting the first crack at prospective tenants, and they’ll benefit by providing full-service options for their clients and employees.

Create Virtual Tours and Use Video to Market Homes 

Create a walk-through video that gives prospective tenants a taste of what they’ll experience when they schedule an actual showing. The video can be shared in your listings, posted online in social media spaces, and provided to the relocation and employment agencies you partner with. This is especially beneficial to out-of-state tenants who may not get to see a property before they rent it. 

A well-crafted video allows prospective tenants to feel like they’re walking through the home. It’s a marketing strategy that can save time because the tenants will know instantly whether or not they want to see your rental home. 

Introduce a Tenant Referral Program

Leverage existing relationships when you’re marketing your rental property, and reward people for bringing you new tenants. You can reward existing tenants and other friends, family members, clients, and colleagues for helping you locate quality tenants for your property. 

You can offer a referral commission and pay in cash, or you can provide gift cards or even rental discounts if your referral comes from an existing tenant. 

Invest in Technology to Facilitate Self-Showings

Show PropertyPerhaps you enjoy the process of showing your property to prospective tenants in person. We get it. You feel somewhat possessive over your property and you want to be there. Or, it’s important to you that you’re available to answer questions and provide additional information. 

It’s less common, however, for tenants to see a property in the presence of the landlord. 

Tenants want the privacy and space of seeing a home on their own time. They don’t want to commit to an appointment time or work around your schedule. You can save yourself some time, too, and a lot of frustration. Have you ever had a tenant not show up for a showing appointment? It’s irritating. 

Utilize some innovative technology and market your property with the help of self-showings. 

You’ll be glad you did.

Self-showings became especially common during the pandemic, but a lot of forward-thinking property managers in Grand Rapids were already utilizing things like smart locks and digital keys. We have learned that this technology can be really instrumental in marketing a property and nudging prospective tenants towards completing an application. 

Self-showings are incredibly secure. Whatever platform you use, you’ll find that enough information is collected from the tenant before they enter your property that you won’t have to worry about theft or damage. These showings will also save time on your marketing and leasing process. They’ll streamline everything and they’ll also be more appealing to tenants. 

Prospective renters can visit the property on their own time and according to their own schedules. They can walk through the unit on their own, and spend time inspecting the details that are important to them. 

Being successful in today’s competitive property management environment often means finding creative ways to get the word out about your properties. Try these strategies and if you’re overwhelmed by the idea of marketing your rental property at all, we recommend working with a Grand Rapids property management company

If you’d like to learn more about how we can help, please contact our team at Short South Realty Group.