Direct Mail for Property Management

[Peter Tverdov]

Hey everyone. I have been growing my property management business organically and am focused on taking the next steps to drive growth. I sent postcards back in the fall to a targeted group of landlords (about 500) and recently sent about 2000 post cards to a targeted group of small commercial property owners (12 towns) and the response rate for both was less than 1%. Very frustrating.

Going forward, I am thinking of sending updated professional brochures maybe twice a year to a targeted list in my target market. The list will consist of out of town owners from property tax records and focus on SFH, small multi-family and small commercial properties.

I have found a company that will print my brochures, put them in envelopes, print the addresses and mail them for about $1 a mailer. Other companies also appear to be the same price. Again, this is a tri-fold brochure, not a cheap looking yellow letter, so I think the price is pretty competitive.

Curious if there are any thoughts on my strategy of using the tax records and focusing on out of town owners and if $1 per brochure mailed seems expensive. 

[Peter Tverdov]

Originally posted by @Elliot Smith:

Hi @Peter Tverdov, curious to know if this strategy/approach ended up working out for you? Considering doing something similar in my market in Missouri.

 In 2020 I did 3 mailings. Spent $5k on postcards and got 18 doors out of it but only 1 of the doors in 2020. Landed 17 doors in 2021 from people who I was speaking with since 2020's second mailing.

I currently target about 12-15 towns, 3000 or so properties. I mail them 3 times a year and rotate the cards. I have one professional looking one and this time around I sent one of a guy with his hands in his face and a funny phrase on there.

I usually get a few calls from the postcards so we'll see if I can continue to get business from it in 2021.

Word of mouth, referrals and cold calling continues to be my best method of getting doors. Even SEO is very hit or miss and I spend $1100 a month on that.