Free Press: Three Steps to Easily Capitalize When Marketing Properties
In the age of social media, it’s more important than ever to let no good press go to waste, and as a property manager there are a multitude of platforms to help get tenants through your door. Whether a good review of a local restaurant or a feature dedicated to your neighborhood as whole, landlords keen on asserting the value of their properties should utilize such articles and trends as good and free press. This rings especially true for landlords trying to catch the eyes of millennials and the blossoming Generation Z.
Stay abreast of the news.
You can’t capitalize on free press if you don’t hear of it in the first place. An easy first step is setting a Google Alert for yourself. If you’re unfamiliar, you provide Google with a word or phrase; every day (or, customize the frequency) you’ll receive an email with the latest trending articles and web pages on that topic. It’s an excellent way to stay abreast of everything going on. Two easy suggestions would be “[your city name] real estate” and “your city name] rental market.”
Taking time out of your week to see who is writing what about your city or neighborhood can be a worthwhile task. Cincinnatians, for example, will be happy to know their city was ranked number eight on the New York Times’ “52 Places to Go in 2018.” Receiving such national praise should be music to a landlord’s ears, but press from more local sources can prove beneficial as well. Publications love writing about revitalized neighborhoods, culinary splendor, and burgeoning art scenes, and such press can be a deciding factor when tenants choose a place to live. Staying “hip with the times” might sound like a taxing venture, but it pays off when a simple headline can do your advertising for you.
Market your property to coincide with free press.
A magazine feature lauding an area’s great restaurant scene won’t do you much good if you don’t advertise your property as a prime location to enjoy it. For example, some of the reasons the New York Times cited Cincinnati as a place-to-be is the downtown’s new streetcar system which now connects major cultural sites, sports venues, bars, and restaurants. Any landlord with properties close to the route should be highlighting this access in their advertisements. After all, proximity to public transit and nightlife alone can be enough to convince a tenant to sign that lease. This is also a great opportunity to piggy-back on the trending nature of the topic on social media. In the above example, after the New York Times published their article, searches for the streetcar, night life, and culture landmarks in Cincinnati spiked. Share posts on Facebook, Twitter, Instagram or any other platforms you use to help market your properties that incorporate buzzy local terms.
Another thing to consider: cite flattering news reports in your property listings to give your advertisements an essence of authenticity that potential tenants can put stock in.
Offer additional incentives to stand out.
As you’ll no doubt be competing with other properties to grab tenants’ attention, you always have to find unique ways to stand out from the rest. If you live in a neighborhood that can draw excitement, provide lease signing “bonuses” that link you to the area. For example, give gift cards to local attractions and eateries, a couple of tickets to a nearby art exhibit or theater, even simply offer a $50 credit on rent for the first month or two but specifically state it’s so they can enjoy a night out in their new neighborhood. There’s no difference in this last example with any other rent credit – the difference is in the way you promote it. The right kind of marketing effort and language will not only draw attention to your property but just as importantly indicate that you’re a landlord who is involved with the local area and cares about your tenants’ happiness. Don’t let free press go to waste; understand you community and area and capitalize on any resources available to you.
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