Your primary role as a property manager is to fill your vacancies with new renters. This can become a costly prospect if you are not careful between running advertisements and marketing materials. So to keep cost down but still attract new residents, here are five really cost-effective ways to attract potential renters:

Online Listing Websites

There are hundreds of online listing sites that are really affordable. They tend to be cheaper than advertising in print materials. They also allow you to get more bang for your buck because you can include everything from rental tours to high resolution photos to really informative copy.

Social Media Blasts

Social media platforms are a great resources for building interest in your property, the best part is they are completely free. Post ads on Facebook, Twitter, and Instagram and make sure that everything you create is shareable so people can see the properties and share them through their network. You can also use these platforms to speak directly with potential renters and really pique their interest. Plus, publishing information on social media doesn’t take a lot of time, so you can save money there as well.

Resident Referrals

If you have great residents, more than likely they know great potential renters in their network. Offer a referral program with a great reward like discounted rent or even a gift card to a local restaurant. That way your residents do the work for you. Most people want to live in a community with their friends, so it is a win-win solution to finding new renters.

Promotions And Gifts

Use gifts and promotions wisely. Connect with local area business to help advertise your rentals. They will benefit from more people in the area and you will connect with people that already enjoy visiting the neighborhood. Also, if you offer corporate apartments or short-term leases, approach human resources managers with your materials. This makes their job easier and helps you market to a reliable renter base.

Community Leadership

Another great way to attract potential renters that is completely cost effective is to become a community leader. Attend local neighborhood association meetings, coordinate volunteers for local neighbor improvements, and contribute thought leadership to local newspapers and journals. Being active in your community will help attract potential residents who love the area and will be invested in building great local relationships.

All of these methods are really cost-effective and can help not only attract new renters, but can positively build your brand presence. For more ideas on how to connect with potential residents, check out our blog at Occupancy Solutions. We have dozens of ideas on how to not only attract great residents, but to keep them all without overspending.