When it comes to marketing, property management companies have had to balance their two top priorities:
Acquiring new properties to manage
Leasing these properties to tenants
Not long ago, these two types of marketing were a headache for property managers. They required different property management marketing strategies, one aimed at owners with properties they were hoping to fill, the other at renters who were looking for their next home.
Digital marketing has streamlined the process. There is now a wide variety of tools that tech-savvy property managers can use to take their marketing to the next level. By taking advantage of cutting-edge tools like 3D walkthroughs, property management companies can increase online engagement by up to 500%.
3D tours like those offered by Matterport have become one of the most important tools for property managers. They allow renters to explore a property on their own schedule, not just when there’s an open house. And they impress property owners who want to show off their spaces. These “digital twins” are now expected for every type of home in the residential real estate market.
In this article, we will share some marketing ideas for property management designed to inspire property managers, especially those in multifamily buildings. We’ll show you how to ramp up your marketing efforts and increase your bottom line.
Why property management marketing is so important
Unlike sales, which typically involve a one-and-done transaction, rentals are an ongoing proposition. A successful property management business has to continually invest in rental property marketing of the listings they present. Every day that a unit is unoccupied means lost revenue.
Traditional marketing tools designed for the property management industry have many disadvantages. First of all, they were slow to implement. Taking out an ad in the local newspaper almost guaranteed that a property would sit vacant for a month or two. That had a negative effect on a property’s profitability.
Second, these property management marketing tools were intended for each individual property. If a property management business had more than one unit available, they typically took out separate ads. There was no way for clients to compare different properties.
Traditional tools didn’t necessarily show off a property’s main selling points. There was no way to use photography to highlight special features or to use virtual staging to help renters visualize how a space would look if it were furnished differently.
Then digital platforms solved many of these problems. They allow you to use online marketing directly to potential residents through search results, social media marketing, and other digital platforms.
Property management marketing ideas to help you build a strong online presence
According to the latest research, the first step for 95% of people in the market for a home is to conduct an online search. That’s why any property management marketing plan should focus on building a strong online presence. You want your company to rank highly whenever potential renters use a search engine.
Power up your website
Most websites look great on a computer screen, but how they display on a mobile device is even more important. Three out of four people report that they search for properties on their tablet or phone. Make sure that your website is optimized for all types of mobile devices.
Original content, including blog posts that show off your expertise in the field, will drive more readership to your site. Because unread content doesn’t benefit anyone, it’s worth investing in search engine optimization. Professional SEO will help more people find your web pages.
Great visuals have become more important than ever for catching and keeping a residential real estate buyer’s attention. To manage all types of visuals, from high-resolution photos to informative videos to stunning 3D walkthroughs, choose a company like Matterport that has an all-in-one platform. Its forward-thinking features, including the digital twin technology in the newly released Digital Pro, make it one of the best management software for marketing property management services.
Jordan Hearin, CPO of the real estate data and analytics provider ID Plans, said Matterport’s digital twin technology is a must-have for companies wanting to get ahead of the competition.
“It was clear early on that Matterport is the best technology to produce digital twins and fully immersive 3D virtual tours,” said Hearin. “In evaluating the best technology, we went through a series of complicated projects and unique scenarios, and Matterport did a fantastic job.”
Emphasize social media
Experts in the rental market say that you definitely should be using targeted content marketing campaigns to reach your audience. Make sure to create and update accounts on a variety of social media platforms.
Don't forget to pick and choose which sites appeal most to your potential renters. Professional sites like LinkedIn focus on the property management team. This is where you can highlight your own expertise and experience in the rental market. On the other hand, Facebook is an ideal place to connect with clients through groups focused on the local community.
Invest in paid advertising
When your property is located in an especially competitive market, you have to try even harder to catch the attention of clients. Targeted ad buys can reach the customers who are currently in the market for a home. You will want to purchase Google ads to ensure that your properties will appear in the search results of potential renters.
Use this pay-per-click technology to differentiate your property management company from others in the same area. This is a good way to point out the online reviews and testimonials that rave about your properties. Great infographics can also catch the eye of potential clients.
3 tools to include in your property management marketing strategy
Your property management company has a wide variety of digital tools at your disposal to better market your properties. You can offer digital tours, create detailed models, and give the property a fresh look with virtual staging. You can also highlight the details about the properties — things like high-quality appliances and extra-large outdoor spaces — that make them especially desirable.
Very few companies are equipped to help you accomplish all these tasks. According to Kate Montalbano, Head of Virtual Staging at 3DAPARTMENT, the difference for her company was the wide range of features offered by Matterport. The result was 49% more leads for her company:
“Matterport helps 3DAPARTMENT tackle landlord and property manager challenges while providing renters the tools they crave, such as virtual tours, virtual leasing, and virtual staging,” says. “With the vast majority of home searches beginning online, displaying compelling visual information is essential to attracting and retaining interested renters and buyers.” — 3DAPARTMENT Case Study
1. 3D virtual tours
It can be a challenge for a potential renter to envision how a space might fit their needs before they see it. Matterport’s 3D walkthroughs enable them to quickly and thoroughly tour a property without having to be there in person.
These digital twins are used for every type of home in the residential real estate market. That’s because recent research shows that listings with high-quality visual assets sell faster and at a higher price (Source).
2. floor plans with measurements
For years, it’s been business-as-usual to give prospective renters access to detailed floor plans. But those black-and-white drawings are often hard to decipher, especially in a multi-story property. Measurements are often unreliable or missing altogether.
Matterport’s digital twin captures every detail in remarkably true-to-life color. What’s more, a digital twin is 3D, so buyers can visualize entire rooms and floors. Using Matterport’s measurement tool, renters can take the dimensions of any room from floor to ceiling.
3. Digital twins (with Tags)
With traditional photography, it wasn’t always clear what made a rental property special. With Matterport’s digital twin technology, property managers can tag features like “walk-in closet” or “energy-efficient induction stove.”
How Matterport can help you market your property
Matterport Digital Pro is an important tool for real estate professionals, providing a wide range of services to help property management companies reach more potential customers. Using Matterport’s digital twin technology, it’s easy to create interactive 3D models of your properties.
These 3D models can be used in multiple ways, depending on your company’s specific needs. They can generate classic black-and-white floor plans with accurate measurements, as well as stunning real estate photography that can be used in print advertising.
An open house that’s always open
You can use Matterport 3D models to turn your properties into an virtual open house. It’s always on and always available to explore.
Viewable from anywhere
Potential renters don’t always live close enough to take an in-person tour. With Matterport, they can explore your properties from wherever they happen to be.
Sharable on social media
These digital models can be embedded on your company website as well as in listings and mobile apps. They can be shared on social media, in email exchanges, or in text messages.
Great for lead generation
According to research from Apartments.com, listings with 3D models have up to 3 times more engagement. Matterport is one of the most effective strategies for finding new clients.
Highlight your best features
You canembed video, audio, images, and text inside Matterport 3D models. You can answer commonly asked questions and tell the story of your property right in the post.
Useful for years
Best of all, you only need to scan a property once, allowing you to reuse the same model even as renters move in and out, and saving you money on taking new photographs of the same space.
How Matterport works
The Matterport Digital Pro package includes everything you need to successfully market the properties you manage. Starting at $299, the package includes a full digital twin of your property, 25 4K resolution photographs, and a complete 2D floor plan, all ready to present to potential clients.
You can also get a full video preview of your property, perfect for sharing on social media and embedding on your website and in your listings. Our certified professionals can handle the entire job for you.
When you need digital twins of your properties, Matterport Capture Service makes the process simple and easy. We don’t just capture the interior of your properties. We also highlight amenities like pools, clubhouses, lobbies, and fitness centers.
Our capture technicians operate in more than 700 cities around the world. These professionals can scan any property up to 30,000 square feet. The process is quick and efficient, providing you with a digital twin within 48 hours. Services begin at $238.
Do it yourself options
If you’d rather manage your digital properties yourself. Matterport’s mobile app lets you generate a digital twin from photographs you take yourself using an iPhone or another camera.