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Back End Sales to Potential Renters
I have five single and multifamily properties that have some decent turnover. They are mostly near a University and downtown in Minneapolis, so I get a lot of students or young people just starting out. So I am showing the places to people a lot during the year.
I have read a lot about marketing and found out about back-end sales or steering customers to other businesses similar to mine. I was thinking I'm missing out in providing other opportunities to sell to people who come look at my places.
The fact that prospective tenants come look at my places mean that they are interested in living in that area. So if they don't rent out my place, they will rent out someone else's. Therefore, has anyone tried to keep the renter's contact information in a mailing list and offered other services to them? Things that pop off the top of my head include:
1. Referring them to other landlords in the area (since they are not going to rent your place anyway)
2. Restaurant coupons
3. Big chain stores in the area (Home Depot, Target, Best Buy, Barnes and Noble etc.)
4. Coffee shops
5. Furniture stores
6. Automotive repair and service (oil changes, etc.)
7. Movie Theaters
8. Plays, Art Museums, other entertainment attractions
9. Real Estate agents if the tenant is looking to rent before buying
Has anyone else 'upsold' tenants to other businesses in the area? What kind of arrangements did you work out with other businesses? How did you make sure the other business paid you a referral fee if the prospective tenant used their service?
These upselling techniques (it seems to me) would work with both people - those that looked at your place and turned it down, or those that rented from you.
Thanks for any advice.