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7 Ways Property Management Companies Can Attract New Property Owners


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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? This useful list highlights 7 ways you can engage new property owners and stand out from your competition.

Published in: Real Estate, Business
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7 Ways Property Management Companies Can Attract New Property Owners

  1. 1. for Property Management Companies to Attract New Property Owners 7 WAYS 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.
  2. 2. Understanding prospective owners’ needs and concerns is key. Remember that it’s not about selling your services but about solving their problems. When you start by looking at it from the owners’ perspective, you will understand how to grab their interest and secure their business. SO, HOW CAN YOU ENSURE YOUR BUSINESS STANDS OUT FROM THE CROWD? Continue reading to see 7 ways you can attract new owners and continue to grow your business.
  3. 3. Go the extra mile, by having helpful features specifically for owners. FAQOwner portal Blog with valuable content Your website is giving prospective owners a glimpse into how you would market and maintain their properties, so it should leave an outstanding impression. HAVE AN EXCEPTIONAL WEBSITE 1 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 Up-to-date listings Quick search functionality Once owners find your website online and click on it, will they like what they see? Your website should be clean and professional:
  4. 4. RENTED! RENTED! 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! BUILD YOUR ONLINE REPUTATION 2 A GREAT REPUTATION IS A TIMELESS ASSET TO ANY BUSINESS.
  5. 5. Your Monthly Owner Statement 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. PROVIDE AN OWNER PORTAL 3
  6. 6. TODAY'S RENTER WANTS OPTIONS Select Your Payment Method: eCheck Credit Card Electronic Cash Payment 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! OFFER MODERN PAYMENT OPTIONS 4
  7. 7. 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. PROTECT THE OWNER’S INVESTMENT 5
  8. 8. USING MODERN SOFTWARE TOOLS SHOWS PROSPECTIVE OWNERS THAT YOUR PROCESSES ARE STREAMLINED AND ORGANIZED. Your Monthly Owner Statement Your Monthly Owner Statement 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. USE WEB-BASED PROPERTY MANAGEMENT SOFTWARE6 With your business running on the most up-to-date technology, you are more efficient and productive.
  9. 9. AMAZING ONLINE TOOLS CAN HELP YOU PRICE OWNERS’ PROPERTIES FOR MAXIMUM REVENUE. USE THE LATEST PRICING TOOLS 7 Rent comparison tools 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.
  10. 10. THE KEY Not sure where to start? Check out these additional resources for more information on key topics that are essential for growing your business: to attracting new owners is in your ability to market your services as a modern, efficient, and convenient option for maintaining and maximizing the value of the owners’ investment. Check out AppFolio’s Web-based property management software designed for modern managers like you. READY FOR NEW SOFTWARE? Guide to Choosing the Right Property Management Software SLIDESHOW Owners and Renters are Mobile: Is Your Business Ready? WEBINAR