Apartment Marketing Ideas: Consulting Current Tenants
Here’s an idea of how to both market to renters and also retain tenants at the same time that many property managers and brokers don’t do enough of: whenever you have a vacancy in a multi-unit building or nearby a currently rented property of yours, consult your current tenants for their contacts that may want to become their neighbors.
Why is this ideal? First of all, if you already like one tenant, why not rent to more just like them? After all, the current tenant is a built in reference. But also, when one tenant has a community within your properties or area, they themselves are more likely to stay with you longer.
The tenant will also appreciate that you wanted to please them by giving them this sneak preview opportunity to bring on someone they are close to. It’s a sign of respect, and they will be happy both that they have this opportunity and that you thought to ask.
For those renting in cities, this is an especially good opportunity. Weary city-dwellers would love to stack their neighborhood or even their building with their friends in order to cut down their commute time to their social engagements. For college students this is an obvious choice as well, although you can use your best judgment as to whether too many party-happy students in each others’ company would possibly cause headaches. But if you’re happy with one studious tenant, retaining him or her year over year is more likely when his or her likeminded friends move in as well.
As for contacting your tenant, use your best judgment whether via email, mail, or a note under the door is the best way to go. But one tip to keep in mind: if you rent in a place like a college town or a city where there’s one or two months of exceptionally high turnover, make sure to offer this a few weeks or months before renters typically sign for the next year.