As a property agent, you must help your clients maximize their revenue. Whether you manage apartments, serviced apartments, room rentals, vacation homes, or luxury property, you can agree that maximizing profits is almost impossible in the current economic conditions. Luckily, property managers can adopt various strategies to maximize sales and revue regardless of the market. This article will walk you through some of the techniques you should adopt to maximize property sales and profits this year.
Let's face it, many property agents typically get excited when many people inquire about their rental properties. However, you are likely to get frustrated if they don't buy or rent your property. That's why it's vital to identify your ideal prospects before promoting your rental property. This way, you will direct your resources and energy to the right target audience.
It is vital to identify the right targeted leads as soon as possible to avoid putting your money in the wrong marketing channels and strategies. Start by determining their residencies, occupation, plans, and age. After that, take the time to filter them out to determine the most effective marketing techniques and strategies.
Social media has a monumental impact on your occupancy and renewal rates. Yet, many property agents in Kenya and beyond don't realize how helpful social media is. They might not realize that more than 80% of apartment seekers use social media to find an apartment near them.
Social media is essential to target Gen Z and millennials. All you have to do is craft unique and engaging social media content to maximize your rental revenue. You also need to be consistent to improve your conversion rates.
Paying close attention to what your competitors are doing is vital in all industries. Whether you have a large portfolio or manage several properties for your clients, you still need to keep an eye on your competitors. By doing so, you can adapt your marketing and strategies better.
So, start by finding out the marketing strategies your competitors are using. Also, check the marketing channels they are targeting. It's also vital to discover how they land their tenants to stay ahead of the game. You can gather more insight about your competitors by calling them directly or submitting inquiries online or by email.
Referrals and reviews are vital to the success of your property management company. Studies show that more than 91% of consumers check online reviews before contacting a company. Additionally, those who check reviews need less than ten reviews to form an opinion about the company. If you want to maximize your rental property this year, you must encourage your clients to share their honest reviews and referrals.
Adding reviews to your social media profiles and your websites will increase your occupancy rates and help you land new tenants.
Unfortunately, many property managers in Kenya and throughout Africa are yet to take advantage of SEO to market their properties. SEO, also known as search engine optimization, is the process of improving and increasing website traffic to your site. With SEO, tenants, landlords, and property owners can easily find you from any part of the country and globally.
What's more, SEO is cheaper than traditional marketing methods like TV and billboards. You only have to use white hat SEO strategies and techniques to rank higher on search engine result pages.
We live in a fast-paced world, and your prospects no longer have the patience and time to rely on a non-responsive company. You have to respond quickly if you want to stand out from the crowd and earn their trust. That means you have to invest your money and time in customer support.
Start by creating a live chat to ensure your prospects get immediate support. You can also dedicate a team to respond to emails and calls quickly.
Email marketing is a vital tool that can help you build lasting relationships with property owners and tenants. It allows you to send personalized messages to each client. This will improve your relationship. Moreover, it can increase your occupancy rates. You can collect their emails on your website, seminars, events, or online ads. After that, draft engaging newsletters and email campaigns to keep them engaged.
Property managers and landlords must adapt to the changing times to maximize, automate daily tasks and reduce operating costs. Above all, leveraging technology allows you to give your clients a seamless experience by integrating with popular payment options and allowing you to send personalized messages. The best property management software in Kenya for apartment owners, landlords, and property managers allows you to do just that.
Our property management software works with popular integrations, including Mpesa, Equity, and Cooperative to allow you to process tenant payments easily and quickly. You can also use it to send personalized messages via email or SMS to communicate with your tenants. Register today to realize more rental sales and profits.
Book a demo with us to learn how Bomahut can help you improve rent collection and save time on property management tasks.
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