The property management industry is booming, with a global market size of $14.47 billion in 2018 that is expected to grow to $22.04 billion by 2023. As the industry and number of property managers grows, competition for valuable rental properties and tenants builds with it.
In order to stand out as a property manager, you will need to start incorporating these game changers into your business plan:
Game Changer 1: Social Media Strategy.
Technology isn’t going anywhere soon, which means that it is as important as ever for you to leverage social media. This allows you to become ever-present in peoples’ lives. From Instagram to YouTube, with a great social strategy in place, you can ensure that you will stand out amongst the competition. Here are some tips on how to craft the most effective strategy:
- Identify your target market and find out which social networks they are using the most — these will be the platforms you should focus on.
- Create a content calendar that aligns with your business goals, such as upcoming promotions, new featured properties and company news.
- Use a social media scheduling tool. Free tools such as Schedugram or Hootsuite can let you manage multiple accounts on your various social networks easily.
- Look at your analytics. Measure engagement, and identify the days and times that your content performs the best.
- Hire a social media coordinator. As a property manager, focus on what you do best and allow a remote coordinator to handle content scheduling, community engagement, and replying to direct messages.
Game Changer 2: Booking Scheduler.
Take charge of your appointment book and sharpen your image by refining your scheduling processes. Easy-to-manage appointment scheduling tools such as Appointy and Setmore will help manage one of the most time-consuming tasks for a property manager. Outsource this process and watch your bookings grow.
Game Changer 3: Impeccable Property Files.
We recommend keeping an up-to-date and comprehensive file on every property. This detailed file will ensure that your team, prospective guests/tenants and property owners have all of the details they need at any point in time. Include details such as:
- Property highlights
- Surrounding points of interest, such as beaches, airports, shopping and tourist attractions
- Insurance information
- Smoke alarms
- Community policies
- House rules
- Cancellation policy
- Public transport details
Game Changer 4: Updated Website.
Nowadays, you need a beautiful, responsive and highly functional website in order to reach and grow your audience. What you don’t need is to know how to code in order to create it! Platforms such as Squarespace and Wix have drag-and-drop tools that allow you to build your online presence without the costly investment of a developer or designer. Add graphic elements to your new site with free online tools such as Canva, plus source beautiful photography from resources like Stocksnap and Unsplash.
Game Changer 5: Email Marketing.
One of the most valuable pieces of customer information you can have is an email. With an email, you can engage your audience directly via their personal inboxes. Utilize platforms such as Mailchimp to send a campaign to thousands of email recipients in just one click. You can also take it a few steps further by:
- Creating targeted audiences. Divide your mailing list into unique customer segments, which will allow you to send more customized and effective emails.
- Designing an automated funnel, which sends out emails when a particular action occurs, such as signing up for the newsletter or viewing a particular page on your site.
- Looking at analytics and identifying the best times to send emails for the best open rates.
- A/B testing in order to determine if small changes in send time, copy, design, etc. has an effect on conversion or engagement.
With all of the new resources and technology at our fingertips, the possibilities seem almost endless. Implementing a few of these game-changing strategies will ensure that you are taking that first step towards growth as a property manager. Of course, we cannot do this all on our own; consider building your admin team with remote staff or virtual assistants to help you achieve your goals.
This post was created in partnership with Maven Staffing. Maven helps you staff a dedicated team of professionals in the Philippines, helping you solve operational challenges with high-quality back office support, customer service and more.
Get in touch here if you would like to build your dream team of admin assistants working remotely from the Philippines.
Very helpful, actionable tips – thanks!