There are some low cost ways to grow your business. I’m a huge proponent of going after the low hanging fruit when you want to grow your property management business. So, if you’ve already got clients, that’s a good place to start.
Property Management Coaching: Current Clients
Your current clients already know you, and they stay with you for a good reason. Go after your existing clients by offering a promotion or doing a survey. Find out how they found you, why they hired you, and why they stay with you. This will help you market your business. Maybe offer a thank you gift. My business is in a coastal community, and if someone refers a client to me, I give that person a gift card to one of the really nice restaurants in our area. One client likes to golf, so I’ve paid for golf before. Your clients will have great friends and contacts, so it’s a smart way to grow your business.
Property Management Coaching: Vendors
Go after your vendors; painters and carpet cleaners can help. My carpet cleaner is my bet referral resource. They are in the properties cleaning carpets after someone moves out, and they start talking to the owner. When they help me get a new client, I give them gas cards, which they love.
Property Management Coaching: Tenants
Reach out to tenants. Just because someone is renting doesn’t mean they aren’t connected. They might have parents or friends who own rental properties. Gather a network of people who will give you a great testimonial. All these people do the sales for you.
Property Management Coaching: Networking Groups
I belong to a number of professional networking groups, and I do get business from them. These groups include professionals from different business categories, so I am allowed to become an expert in my field. People will ask me for referrals to a CPA, an appraiser, or maybe a flooring person. I can refer all these people who will take good care of my clients. So, they keep coming back to me for information.
These are affordable things you can do to go after that low hanging fruit and build your business. Don’t forget the people you serve. Those resources are cheaper than spending a lot of money to get new business.
For more great ideas, contact me at The Property Management Coach. I’d be glad to discuss it with you.