Marketing tips for Property Management business?

[Nathan Gesner]

We have a record number of homes for sale in my community and the market is slow. I'm expecting it to slow even more in the fall. At the same time, rentals have been strong for decades. I manage 120 units in a town of 9,000 and average five calls a day from people looking to rent. I can't think of a better time to market our company and expand!

I'm looking for ideas of how to market myself to existing homeowners that can't sell in a down market AND to new investors looking to take advantage of the buyer's market and the high demand for rentals. Please help me brainstorm!!!

1. I want to initiate an advertisement blitz in the fall via newspaper, radio, web, etc. People either don't know about property management or they think it's a sham that will cost them money and destroy their property. I want to let them know I'm here and I'm here to reduce their headache while increasing their rate of return. I'm not a big salesman, but I know how to tell the truth and back it up with facts.

2. Part two would be a monthly presentation to explain the sales vs. rental market in our community, how a good PM can increase their rate of return and protect their property, and how my company provides that service like nobody else. They'll have time for questions and walk out the door with a few professional handouts and something to think about.

3. I can provide a detailed analysis of their property and its rate of return. They can walk out the door with a professional product and more crunched numbers than they care to look at. They can review it and decide to hire me, take the data and try to rent on their own, or still be scared and go another direction. But I'm willing to bet many of them will come back to me.

4. It's unethical for a licensed Realtor to contact an owner that has already listed their home through another Realtor. But am I allowed to contact an owner about managing their property as a rental? It still seems kinda shady, but I thought I would throw it out there. I know it's OK to conduct general mailings to a community, so I might consider something along those lines in the areas with a greater number of "rentable" homes.

I've only been thinking of this the last couple of days while dealing with 1,000 other things so this is truly in the infant stages. In fact, I spent more time typing this than I probably have thinking of ideas! If anyone has an idea, throw it out there! Just keep in mind I'm in a town of 9,000!

Thanks in advance!