Whether you manage one rental unit or one thousand, keeping vacancies low by marketing for new tenants can be a costly venture. Reducing marketing expenses involves getting creative, and leveraging your local resources with things like reciprocal linking or piggybacking onto other ad campaigns can go a long way. We’ll explain what all that means below.
Teamwork makes the dream work
Partner up with the businesses in your property’s neighborhood. Fitness is a big draw, for example; if a local gym like this fitness center in Flemington, NJ is near your unit or complex and advertises membership specials, discuss ways you can become involved in their next campaign for minimal cost. For example, your tenants could receive a small discount on an annual membership and gym members could receive $25 off your unit’s first month’s rent. This enables you to place a link to your website on the gym’s webpage, as well as get a mention in the gym’s radio or television ads. This gives your business and your website exposure without you having to mount your own independent ad campaign, and it exposes your property to another company’s target market.
Similarly, “reciprocal linking” is when you place a link to your page on someone else’s website, and they in turn get a link to their page from yours. This sort of reciprocal deal can drive up web traffic to both sites with consumers from the other company’s base. This increased traffic helps your site come up near the top in future search engine results, which can have an extended benefit for your business. Furthermore, any time your company name gets repeated in the local sphere, you are building the kind of name recognition that may cause someone to call you first the next time they need a new place.
You can create your own standup flyers online and even get some brochure holders for under $50 at most printing services. Talk to managers at large companies in the area to keep a set of your brochures in the lobby where job-seekers are likely to see them. You can even discuss keeping your brochures at nearby freeway rest areas or at welcome centers and visitors’ centers, so that tourists getting ready to explore Henry County, Georgia also have a go-to option for housing if they are scoping out a permanent move.
Continuing the theme of reciprocal marketing, you can mention a local business or request to place their logo in your own flyer to entice them to carry your brochures at their establishment. Think about where your ideal tenant might shop or spend their leisure time, and select a local company that caters to that clientele for your potential ad campaign partnerships. Make sure to illustrate how such an arrangement is mutually beneficial by providing options for your brand to bring greater awareness to theirs.
Accentuate the positive
Whether you are using print, radio, or online advertising, make sure to hammer home the benefits of your rental business. Highlight rave reviews from past happy tenants, make offerings like a free online rental application stand out prominently in your print or online advertising, and use as many aesthetically-pleasing photos of your property, amenities, or nearby points of interest as possible.
Creating a pleasing ad visual is vital for enticing a potential tenant to call or email for more details. So provide pictures of your property staged with furniture and décor, even if you have to borrow or rent pieces for the photo. Capture your property in the daytime when the light is fullest in the room and accentuate any special features like fireplaces or pools in your marketing materials or on your website.