Finding new leads is a crucial part of being a property manager. However, growing your property management portfolio can become increasingly difficult once you’ve exhausted your current lead generation avenues. Fear not, though, as there are always ways to convert new clients and build that perfect property management portfolio. If you’re wondering how to get more property management clients in 2020, consider these practical options.
Market Your Property Management Services
One of the most crucial steps to growing your property management portfolio is to get your name out there. You need to make sure that whoever is looking for a residential property manager in your area won’t have a hard time finding your name and being persuaded about the quality of your work.
There’s a handful of things you can do in this regard. Foremost, you should consider developing a website. Having a user-friendly and streamlined website creates a very positive impression on potential clients. It’s an avenue for you to advertise your best skills, accomplishments, and testimonials from your existing portfolio of property management clients. Property management marketing relies very heavily on positioning yourself as a leader in your industry.
To take things one step further, consider using your property management website as a platform for content marketing. This could involve written blogs, videos, or other forms of content relating to property management. This would foremost establish you as an expert in your field, showing off your expansive knowledge and authority. Secondly, if you properly utilize SEO tools and optimization techniques, you can ensure that your website ranks highly on search engines. Whenever someone in your area researches property management, a solid content marketing strategy can place you on the front page of their search. This front page is exactly where a successful property management company belongs.
You should also consider physical marketing avenues to grow your property management portfolio and bolster your rent roll. For example, if your local area has real estate publications, consider using them as an outlet to market your services. Use your knowledge of your local housing market to determine where rental property investors and agents typically look for listings and use that knowledge to place yourself directly in the eyesight of potential property management leads.
Finally, you should consider investing some time in your social media presence. Depending on trends in your local area, LinkedIn or Facebook may be great options to get your name out there. Putting some money behind paid advertisement could be a fantastic way to reach people you haven’t yet interacted with and spread your name far and wide.
Related: 9 Property Management Marketing Mistakes You Can’t Afford to Make
Become an Airbnb Property Manager
If you’re wondering how to get more property management clients, getting into the Airbnb industry might be your best bet. The Airbnb rental market is huge and growing quickly. As such, becoming an Airbnb property manager has become a huge opportunity to get more clients and significantly more income. More and more real estate investors are purchasing investment property for the sole purpose of listing on Airbnb, and so there’s plenty of opportunities for property managers to get into the field.
Airbnb property management involves a slightly different skillet than traditional property management. You’ll need to develop strategies to gain positive reviews, create hospitable environments, and stay in touch with a lot of incoming and outgoing visitors. But developing these skills can be hugely rewarding, and may be a fantastic means of building a property management portfolio. Plus, tools like an Airbnb calculator can be easily accessed online to make the job easier. Taking this step can open you up to a multitude of new clients.
A sure-fire way to grow your property management portfolio is to get in touch with professionals in your area. By integrating yourself into the local real estate industry, you’re sure to find more property management clients via word-of-mouth. Reach out to local investors, real estate agents, and partner companies, and make sure that everyone knows the services that you have to offer. Most individuals typically start their search within their own network, before looking outwards. Therefore integrating yourself will go a long way to building your property management portfolio in 2020.
Offer Added Value
There’s plenty of competition in the property management industry. As such, you need to ensure that you have something that sets you apart. You can differentiate yourself by offering a handful of services which are in high demand, but scarce supply.
For example, adopting some advanced technologies can go a long way in making yourself more marketable. While online rent payment is highly favored among investors and managers, it has yet to become the norm.
Another sure-fire way to get more clients is your ability to generate new income streams in your rental properties. By contracting and coordinating services such as cleaning, daycare, and dog-walking, you can maximize income from your tenants. This looks great for real estate investors and can go a long way to growing a property management portfolio.
Use Artificial Intelligence
Artificial intelligence is no longer the domain of science fiction films: it’s finally here, and it’s an incredible tool for real estate industry professionals. Knowing the tools you have available is one of the best ways to get more rental properties under your management.
Mashboard is a new tool that is proving to be one of the most powerful property management tools out there. It utilizes advanced machine learning algorithms and AI to help you find investment properties for clients and leads. Here’s how it works.
You enter a new property management lead or client into your dashboard. The property management software works to gather all the data available on this lead.
Next, visit the Property Recommender from the lead’s profile. This tool will have already set all of the filters for investment property search automatically based on the lead data. So, it will essentially show you a list of the perfect investment properties for sale for that lead or client. The match has a 90% accuracy, meaning if you show your lead the branded Property Analysis Report that you get from Mashboard for the property, they are sure to buy it and put you to work managing it!
This service will provide you with a whole host of advanced tools that can take your property management company to the next level. By offering this advanced level of service, you just need to stand back and watch your property management portfolio grow! Sign up to Mashvisor now to access Mashboard.
Related: 6 Property Management Industry Trends to Expect in 2020
2020 can be the year that you finally build the perfect property management portfolio! By making a handful of strategic decisions, this is a very attainable goal. By setting yourself apart, and making sure that your marketing channels reflect your unique skill set, the property management clients will start rolling in. And by using advanced property management software, you can offer a whole new stream of services that are in high demand from real estate investors everywhere.