Marketing Rentals

Marketing Update:

Jacob Grant Property Management works to select the strongest ways to market your vacancies.  Please consider the data:

·         40% of leases come from craigslist

·         20-30% come from marketing at other websites

·         5-10% world wide web searches

·         10-15% newspaper

·         5-10% from yard sign

Idaho Falls property management is an unusual market because there are still leases coming from the newspaper.  I was at a property management conference (NARPM) and they asked all of the people still using the newspaper to advertise vacancies, raise their hand.  Out of about 50 property managers nationwide, MY HAND WAS THE ONLY ONE THAT WAS UP! 

                You can understand my frustration at the Post Register’s email last week telling me that their rates are going up.

                Based on the new information, Jacob Grant Property Management is making a change to marketing policy.  Consider our complete marketing policy:

·         We offer an after-hours phone service so working people can view vacancies on weekends and after 6pm.

·         List on website with pictures and video when possible.

·         We list vacancies on craigslist at least once per week (usually twice).  Days and times listed are based on traffic data.  For example, Monday is the highest traffic day of the week, so listing on Monday is imperative.

·         Our website shoots listings to other websites including hotpads.com and oodles.com.

·         Yard sign.

·         Newspaper ad (billed to owner)

We are considering removing the automatic newspaper, and we will be beginning a webservice called rentalhomespro.com.  This will greatly increase exposure for web searches for rental properties.  This will also include cutting edge technologies including a text feature, so prospective tenants can send a text and receive more listing information.  Based on our research and the continual shift in technology we believe this service will lease out your properties sooner.  The fee for this service will be $35/month (only while vacant).  The fee for the newspaper will continue to be approximately $50 while vacant.

The best justification for this is a reduction in days vacant.  If your rental rate is $800/month the daily rate is $26/day.  If we can reduce the days vacant by 4 days your marketing is paid for.  If we reduce it by a week or more then the marketing investment will bear returns.  I believe this marketing will put money in your pocket.

Thanks

Jake