The internet has changed the way we do everything. It has completely transformed the way we conduct business, updated the way we shop and reinvented the way we communicate. Just as the internet has changed how we go about our daily lives, it also has changed the way residents search for a new rental property. According to the National Multi Housing Council, “more than 70 percent of renters begin their apartment search online, and many firms now report more than 50 percent of their leasing activity is coming from online sources.” This means that in order to stay ahead of the times, property managers need to be using the latest tools the internet has to offer to market to potential residents.

Internet Marketing Tips to Keep you Ahead of the Competition:

  • Internet Listing Services (ILS) are a cost effective way of generating leads for your property and increasing your number of closed leases. Renters’ top three criteria for choosing an ILS are the number of properties listed, the amount of detailed information on each property, and the sites ease of use and functionality.
  • Property Specific Websites are extremely important since potential renters will be checking for contact info, photos, floor plans and prices. Renters generally start their search on ILS but usually rely on property specific websites for more information when they narrow their search down.
  • Detailed Lease Source Tracking is imperative to testing the success of your marketing channels. This will help you better plan future promotions by tracking which methods are closing the most leases.
  • Call Centers provide additional resources to satisfy renters’ queries 24/7, offering communication channels online and by phone.  They are a great way to close leases by creating appointments with residents to come view your property. Lack of timely responses to phone and email inquiries are noted as the biggest reason for renter complaints and loss of potential leases.
  • Search Engine Optimization can provide long lasting results for larger property management companies as it is great for turning leads into leases. However, it can take a long time for the effects to be measured and requires constant updating to your website content.
  • Online Rent Collection is a great selling point to potential renters.  Advertising on your website that you accept ePayments with RentPayment will let potential residents know that you offer a wide variety of flexible payment options and it shows that your property is up on the latest technology to meet the current rental market’s payment demands.

Using a mix of these online marketing methods will help your business grow and convert more leads into leases. For more online marketing strategies, check out the NHMC’s White Paper: Multifamily Marketing in the Internet Age.