Over the past decade, 9 million households have entered the renters’ market, catapulting the property management business into a $73 billion dollar industry according to Forbes. The good news is that you don’t need a multi-billion dollar budget to get in on the action. A single-family or multi-family marketing agency can help small- and medium-sized property managers scale to compete with large, industry leaders to capture a share of this market.
Use a multi-family marketing agency to capture the Millennial market
The American Housing Survey found that rentals comprise nearly 40% of the housing market — a figure that is expected to increase over the next few years as rent-savvy Millennials continue replacing older homeowners. Appealing to this growing audience can be challenging for small- and medium-sized management firms because Millennials expect instant gratification and a highly-personalized rental experience. Because many Millennials are choosing multi-family residences, such as apartment and condo complexes, that offer white-glove service and amenities, enlisting the support of a multi-family marketing agency can help you anticipate and meet their unique expectations.
A digital marketing agency can help you understand how Millennials are searching and ensure your content seamlessly reaches them across channels. Here at BIGEYE, we pride ourselves on forecasting when and where generational audiences will engage brands across various devices or platforms to help brands plan and spend more efficiently. Learn more about how this philosophy can help catch the attention of Millennials here.
Improve search ability by growing your content marketing
Become an authority on your area, provide curated neighborhood recommendations, and share forecasts about the housing market to entice interested renters. By establishing a helpful, informative digital presence, your property management company will stand out from competition who is leading with hard sales tactics.
Creating blog and social media posts, videos, infographics, and white pages all take time and energy and growing property management companies may not have the resources to spend on this important work if it detracts from their day to day work of maintaining units and buildings relationships with clients and community partners.
A multi-family marketing agency that understands the condo market can quickly and cost-effectively pump out and place critical content so your firm can get the exposure it needs without sacrificing precious man-hours.
Help lessees find you by polishing your local listings and presence
If you’re in real estate, you know it’s all about the listing. And we don’t just mean property listing (although that’s important too). Make sure your property management company is included on all your local listing sites, such as the Chamber of Commerce, Rotary International and other civic-social organizations, Google Places, Yelp, and any organizations that have influence within your area. A multi-family marketing agency will make sure your listings are up-to-date, in compliance with any changing site rules, and performing well against the competition through ongoing optimization efforts.
While this process is not difficult, it can be time consuming — especially if you want to provide an extra level of service by replying to reviews, inquiries, and comments generated on those sites. Because agencies are used to performing this work and have the tools to bulk schedule in advance, it’s usually more expeditious for them to do it than for your team to purchase and learn what is necessary to achieve the same results.Back to Thinking