We all know that shelter, security and peace of mind are very major needs in a human beings life. There are many entrepreneurs that have taken the pledge to rent shelter to those who need it.
If you happen to own a property or are in charge of finding tenants you probably know the importance of marketing it , not only to people who need accomodation but to prospects who will be good tenants.
The effectiveness of who rents your property depends on who has already stayed on the property. For example, if a certain property is thought to be a low key brothel (because of the nature of tenants dominantly there) then it means that certain people who have families to “protect” may decline it on that basis, whilst those who approve of that may tend to want in.
This article will do it’s best to advise on how you can qualify leads and market an accomodation business, if you have rooms to rent. This article is not for guest houses, lodges, motels or hotels. We will do a seperate article on those.
I particularly did this video as a gift to a business partner I met recently who runs an accomodation business.
Here are some strategies in marketing an accomodation business. Popular belief is that marketing begins and end with fliers, mposters, videos and word of mouth. However marketing… and read closely… Marketing is anything you do or don’t do to get new clients, keep clients and to make sales.
With something like an accomodation business, just like a medical practice, food outlet or law firm the marketin tends to lie in fulfilling the clients needs.
1. Aesthetic & Quality of Life Matter
Everybody loves to live in a clean and beautiful place they are proud to take pictures in. Hire a hard working caretaker who makes sure that hard work is catered for and at least the place looks great.
It is important to make lease agreements and charge deposits as insurance for any breakages and events that may cause the place to deteriorate.
2. Reasonable Security & Freedom
More than anything, at the very beginning of Marslows Pyramid of needs are security and freedom. These are hard concepts to balance as freedom sometimes compromises security and security measures sometimes restrict freedom.
So it’s important to put all security features to protect the tenant from external harm or even from other tenants whilst maintaing a degree of freedom for all parties.
If you run a place where security guards tell people to turn down the volume on a Saturday at 7pm, be rest assured that the tenant is already looking for new places.
At the same time if the tenant has too much freedom to disrupt others at 2am midweek, the others may as well end up leaving the place.
The ability to balance the two lies in the next important thing.
3. Engagement and Feedback
Whilst rentals usually are somewhat passive income it’s important to consistently hear out the needs of the tenants and to help them engage among themselves.
For instance certain living rules may be facilitated by the tenants if they meet and agree on things like when it’s okay to have loud music and notifying each other when there is a party or if such events should even be done there.
If such decisions are done without engagement of the collective, there will not be much retention of the tenants.
Remeber when marketing accomodation you are constantly remarketing to the tenants who are already there so that they say.
4. Evict Bad Tenants Fairly
Since we’ve already agreed that …”Marketing is anything you do or don’t do to get new clients, keep clients and to make sales” let’s agree that other clients can make things for other clients.
If there are fair grounds to give someoen a notice for nuissance do it before the good tenants leave.
5. Have Facilities They Need
WiFi, a study room, a laundry area or space they can do recreational activities may come in handy.
The more of their needs you can serve the more you can charge. The greater satisfaction the greater the stay.
6. Do Creative Marketing
Most people with rooms to let often put “Rooms To Let in Pretoria” on a aplain placard, yet there is an opportunity to spend more on printing out the photos of how the place looks. This saves prospective tenants a lot of time because people generally want to see the outside, the security, the inside and what type of bathroom is ther.
They also like to know the price or at least the person to contact and so forth.
It is never a bad idea to even creat a video, compress it without losing quality and share it around whatsapp and facebook esp if if it has high end editing as well.
The use of videos, fliers and other marketing material is a crucial part after implementing all the other startegies to keep them when they come.
7. Consistently Improve The Place
People always want to be part of anything which is consistently improving, thus you should not hesitate to keep on improving the quality of of service you can give.
At best it retains the people that are there and it also attracts those who are not yet there who are seeing it and comparing the progress with where they are.
Perhaps where they are they reported some things the landlord/lady needed to fix but nothing has happened. This could be your competitive advantage if you are more pro-active.
8. Practice Empathy and Restraint
Though you may feel justified to be angry at shortcomings of tenants at times, mantaining your resolve is key to being respected, retaining tenants and being recommended.
Old folks say, “Don’t argue with a fool, because from a distance no one knows who is who.”
You never want word on the street going around about you being verbally abusive. It deters prospective tenants.
Ultimately sometimes the person who gets you your next tenant may be a current or old tenat. Som,etimes a tenant is moving to occupy a new opportunity in another city but if you have kept them well they will usually market the accomodation opportunity to firends or family.
Everything you do in the business is marketing.
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