September 11, 2018
How A Landlord App Can Help Grow Your Business
Every property management company wants to grow. New customer acquisition is the key. To expand your portfolio of properties you need to attract new owners, and show them exactly how well you can manage their assets. And, you need to do it better than your competitors. Here’s how you can raise your brand profile, improve operations and use technology, like a landlord app, to grow your business.
1.) Use Pull Marketing
According to the Content Marketing Institute “content marketing generates over three times as many leads as outbound marketing and costs 62% less.” So, one of the best ways to attract landlords and condo boards looking to have better-managed properties is to create content for your blog. (Don’t forget to post it in social media like LinkedIn and Twitter as well.) Articles, podcasts, videos or infographics, it’s up to you. Build up content themes around key topics of interest to landlords, like how to deal with common tenant challenges or how to know how much rent to charge. You’ll build trust and credibility as well as inbound links. With a landlord app that has a website builder you can easily add a blog to your site and use it as a marketing magnet to pull in leads.
2.) Ask for Referrals
Your current roster of landlords and building owners can be one of your best resources for new introductions to other landlords. Most owners have a network of other property investment folks that they bounce ideas off of, or go to for help and guidance. Build relationships with your clients through personal touch calls, or use your owner portal for timely email updates and market trends. Don’t be afraid to ask for a referral or introduction. You can sweeten the deal with incentives (e.g. waiving a month of management fees) or a referral fee.
3.) Get Past the Gatekeepers
Unlike marketing to renters, the B2B marketing path is full of gatekeepers in the form of administrators, personal assistants and project managers. To get to the decision-makers, you need to get your message past these gatekeepers. You might to invest in targeted digital advertising in the form of PPC search marketing, display marketing or remarketing. Be sure your ads speak to their roles and issues. You can offer up e-guides as incentives to complete a form, so you can continue to nurture the relationship.
4.) Show Them the Money
Money in the bank. Fewer risks. That’s what owners want. Show them how your landlord app allows their renters to pay online through their bank or credit card. No more missed or bounced payments or lost cheques. The more you can show that you can improve their cash flow, the better chance you have of converting that property owner lead into a client.
5.) Have an Owner Portal
Owners want to be in the loop and know exactly how their properties and units are performing. Being about to access a dashboard of KPIs and financials is a key selling point. With a landlord app, they can log in anytime from anywhere and get reports. They can even securely share reports with an integrated permissions tool to ensure data stays safe.
6.) Protect the Asset
Property owners find it difficult to stay on top of whether or not tenants have renters’ insurance. And, recent statistics show that just over 40% of renters have coverage. Show how you can add value to their investment by ensuring that tenants have insurance on their apartments. When an insurance program is built into the resident portal, you’re giving landlords and property investors peace of mind protection. And, key stakeholders can view the insurance status of the residents, ensuring mandatory coverage.
7.) Use Technology to Reduce Costs
In addition to attracting more clients, another key way to grow your business is to reduce costs. By getting rid of manual tasks, digitalizing documents so workflows can be automated helps drive down costs in terms of labour, hours of work, the elimination of errors and lost paperwork and the cost of paper itself. In essence property management technology lets you do a lot more with fewer resources, so you can scale your business without having to exponentially scale talent and labour.
How Property Vista Helps
Property Vista is a cloud-based property management solution that helps property management firms to grow their business. From owners’ portals to collecting rental payments and more, Property Vista handles it all. We offer users a vendor management module, accounting capabilities, a lease management system, website marketing tools and much, much more. Check out our packages and pricing.