4 Ways You Can Use Social Media To Your Advantage in Managing Your Rental Property

4 Ways You Can Use Social Media To Your Advantage in Managing Your Rental Property

Social media is almost a part of everyday life. People share a lot of information, personal and work-related. While you scroll through your social media feeds, you’re likely to come across sharing how their day went, a cute picture, or someone advertising their product. 

Many social media platforms get millions of visitors monthly, looking for different things. Since you have a rental property and want to draw more people to it and connect with your prospects and current tenants, slacking on social media won’t help you. 

While you may want to join in the trendy hashtags and share a cute photo of your puppy, you should think more about making more money and using social media to your advantage. How? 

  1. Network and build relationships

Networking and building good relationships will help your rental property thrive. Utilizing social media will help you achieve that. Social media creates opportunities for you to network and create communities where you can build relationships and keep in touch with your tenants and employees. 

You can keep in touch with them via Pinterest boards, Facebook groups, Twitter, and more. Some owners use property management software for landlords to connect and share updates about their property with their targets and tenants.

Furthermore, using social media to build relationships helps introduce your management team to your tenants. They can keep up with discounts, promotions, on-site events, and upcoming activities on these online communities. 

This is a good way to include your tenants and prospects and encourage participation. In addition, social media also provides an avenue for real estate agents to connect with you and link more prospects with you. 

You can also utilize social media features like Circles on Google+ to filter and segment your followers into prospects, current tenants, competing landlords, and others, and send dedicated adverts, promotions, and incentives to different groups. 

  1. Generate more leads

Many people use social media, and it’s hard to find someone who isn’t on at least one social media platform. Furthermore, people use these platforms to source information about their needs, including housing. Some search for online communities, photos, listings, available apartments, and offers, share information with their online friends and wait for feedback.

You can use this to your advantage. Position your listings on Facebook, Instagram, Pinterest, and other social platforms to attract leads. Some businesses use SEO to their advantage when positioning themselves to make their leads easily find them. 

For example, using certain keywords in your handle, business description, or hashtags will attract your prospects to your listings. Furthermore, you can incorporate your Twitter, Facebook, and Pinterest to generate leads by announcing discounts or contests, as they will drive traffic to your sites. 

  1. Get partners and financial opportunities

Running a successful rental property business isn’t easy. You need other people and money to do that. Networking is important in finding the right partners to find appropriate financial opportunities. You can’t meet the right people or get financial help if you keep it all to yourself, and you can find that on social media.

Net-worth individuals are active on social media and use it to make financial decisions, and not utilizing it as you should will be unbeneficial. Therefore, you need to get on there, position yourself to be noticeable, and connect with the right people. 

Connect with entrepreneurs and build trust and relationships where they can invest or offer financial help. Furthermore, they make them come to you when they need your services. Take your time to seek those partners, and be intentional about building meaningful relationships. You should share useful information on your social media pages, position yourself as a trustworthy authority and engage your prospects. 

  1. Advertising

Social media has the power to showcase your listings to millions of people. You can reach more prospects via social media advertising without using other advertising methods. For example, you can run an ad or set up a Facebook page for all your listings where you post pictures, videos, and other details for your community, and some may even share it with their social network through features like a Twitter retweet.

You can use calls to action on social media to transfer your prospects to your site. In addition, you can measure your advertising results on social media by checking activities on the post. 

Conclusion

You can hardly go wrong with making money utilizing social media if you do things the right way. It opens new opportunities for you to draw more prospects to your listings and communicate better with your tenants and members of your community. 

Ensure you stay current and keep putting yourself on social sites through communities, posts, boosting, commenting, and engaging others’ posts. Furthermore, you can utilize social media management tools to help you or hire a professional if you are inexperienced or don’t have the time. 

Larry Covert
Editor-in-Chief Larry has worked a decade in finance, for an international bank where he saw before his eyes how his former company invested on almost everything that has something to do with technology and advancement. This inspired him to create the company along with his then newly-formed team of professionals from different fields, different walks of life.