Using Social Media to Find Better Tenants
April 10, 2017
to that conclusion may be a bit short-sighted. It is true that print media is becoming less useful, especially for rental property investors. Unfortunately, many of these owner/investors still rely on print media – probably more than they should.
Beyond Print Media
To combat this issue, property management companies have turned to technology in an effort to learn more about and gain a better understanding of the newer media, namely blogs, internet-based property listings, and social media. As a rental property investor, social media can benefit you two different ways. First, you can share the blogs you’ve written for your tenants which in turn helps you to market your properties. Second, it enables you to establish a strong online presence.
At first glance, you may not feel that this is important. But, the reality is that it provides you with a way to monitor, regulate, and track what your tenants are saying about you. Ever heard of reputation management? Maintaining a positive image of yourself among your tenants helps you to retain them and possibly get referrals for replacement tenants when they decide to move. Conversely, if the relationship you’ve had with a tenant has been less than desirable, they won’t say anything positive about you.
Another important element is the rental listings posted on the internet. So why not consider advertising your different properties there? Today’s property management companies invest a considerable amount of money and time marketing their client’s properties. They advertise their client’s properties on a number of well-known listing sites and even on some of the lesser known ones. If you’re not taking advantage of these different websites, you could be losing money.
Benefits of Online Marketing
There is nothing that causes a property owner/investor to stress and worry more than not being able to fill a vacancy once they have lost a tenant. In some cases, they don’t even provide a 30-day notice of intent to vacate. Being able to market your properties online could help you shorten that vacancy period you’re stressing over and worrying about. Here are some of the benefits of marketing your available properties by posting those listings online:
- Advertising online is very cost-effective
- You eliminate 3rd party communication faux pas by providing the prospective applicant with direct access to you
- You extend your reach to a larger audience
This can also be shared on social media platforms, thereby providing a dual benefit. For additional information regarding the use of blogs, internet listings, and social media, do a little research online or contact a property management company for assistance. They would give you custom quotes and you can always shop and compare before selecting the right services.