As a property manager, it is your duty to advise landlords on the emerging trends in the property market. Most top Los Angeles Property Management companies explore the market every year to know new trends and leverage on them. You as a property manager is in a better position to know these trends that your landlord or company whose rental property you are managing.
If you are serious about your business, you will know that leveraging new trends is important when you want to grow your business. In this article, we are going to take a look at a number of new marketing trends in the property market in 2018.
Top Property Marketing Trends For 2018
- 3D Virtual Reality Tours
If you are yet to incorporate 3D virtual reality tours into your marketing strategy, you are already late. This marketing strategy is the latest in property marketing. It involves making use of videos and 3D images to give a prospective customer a holistic view of the property.
A research shows that 3D virtual tours can appeal to a prospective tenant especially when he cannot come to inspect the property physically. Whether your prospective tenant is on the other side of the world or not, you can give him an accurate and entire view of the property online when you make use of 3D virtual reality tours. Statistics showed that property managers making use of 3D virtual reality tours are making more sales than those who don’t use it.
The world is beginning to pay increased attention to the eco-friendly environment. More people are beginning to adopt a green lifestyle. Fortunately for forward-thinking property managers, they have adopted this by advertising their properties as a property with eco-friendly amenities.
You can make your property eco-friendly by choosing energy-efficient appliances. You can also add spaces for bicycle racks and gardens. These little things that suggest you care for the environment appeal to prospective tenants and will help you attract more millennial and Generation Z renters.
- Tech-Friendly Amenities
If you are looking forward to attracting more Millennials into your property, you should have tech-friendly amenities. You can easily do this by adding free Wi-Fi or cable, USB outlets, and other tech-friendly features. Of course, you will need to mention these features in your promotional materials. Make sure that your potential tenants know about these amenities and how they can use it.
Fortunately, some of these amenities wouldn’t cost you much to offer them for free. You can always recoup your investment through rent payments. With tech-friendly amenities, a property manager will never lack tenants.
Rooms For Pet
According to a research, more than 68% of all households in the United States own pets. Of course, this statistics should send a strong message to every property manager as well as landlords. It clearly shows that you will get more tenants if you add rooms for pets in your promotional materials.
The research also showed that pets are popular with Millennials. Instead of having a pet policy that excludes having a pet, you should let your potential tenants know that you are willing to offer them pet-friendly amenities. You will truly have less vacancy when you provide this type of amenity to your tenants.
Social Media Communication
With more than 3 billion people on Facebook alone and over a billion in Instagram and Twitter, it clearly shows where the majority of your potential customers are.
Don’t neglect the impact of social media on marketing. You don’t need to use this medium only for ads. You should also leverage social media to communicate with your potential and current tenants. Research showed that a lot of Millennials are paying more attention to social media than email communication. What this means is that you will have a more effective communication when you adopt social media communication into your marketing strategy.
As a top Los Angeles Property Manager, you should always be on the lookout for emerging trends. When you notice a trend, suggest these trends to the owners of the properties you are managing if they involved making adjustments to the rental property. You will have less vacancy when you follow these trends mentioned above.