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A Sample Property Management Marketing Plan Template

Do you want to sell or rent properties fast? If YES, here’s a sample property management marketing plan template to help your firm attract high networth clients.

Okay, so we have considered all the requirements for starting a property management company. We also took it further by providing an in-depth sample property management business plan template. In this article, we will be analyzing and drafting a sample property management marketing plan backed up by actionable guerrilla marketing ideas for property management companies. So put on your marketing hat and let’s proceed.

A Sample Property Management Marketing Plan Template

  • Our Present Business Situation

Hillary Tyson and Co Property Management Company is a legally registered and licensed property management company. We are based in Atlanta, Georgia but will operate in all the states in the United States of America. We have been able to scale the hurdle of building a robust list or landlords and property owners in the whole of the United States and we look forward to help a larger percentage of them manage their properties in any part of the US.

Presently, we have successfully equipped our office; also, the preparation of all our business / contract documents is underway. Furthermore, we have employed key employees that will be the pioneer employees of our organization. It is worthy to state that everyone under our employment is currently undergoing training and we are set to officially open our doors for business to the general public.

  • Our Services

Hilary Tyson and Co Property Management Company is a company that looks forward to deliver excellent services in terms of help landlords and property owners effectively manage their properties and also providing conducive apartments and facility to tenants at an affordable rate. Our business offering are listed below;

  • Facilitating a Purchase — guiding a buyer through the process.
  • Facilitating a Sale — guiding a seller through the selling process.
  • FSBO document preparation — preparing necessary paperwork for “For Sale by Owner” sellers.
  • Property Maintenance
  • Exchanging property.
  • Auctioning property for our clients.
  • Preparing contracts and leases.
  • List the property for sale to the public
  • Provide the seller with a real property condition disclosure (if required by law) and other necessary forms.
  • Prepare necessary papers describing the property for advertising, pamphlets, open houses, etc.
  • Hold an open house to show the property.
  • Serve as a contact available to answer any questions about the property and schedule showing appointments.
  • Ensure that tenants are pre-screened and financially qualified to rent / lease the property
  • Selling of Fully Furnished Properties
  • Selling of Landed Properties
  • Property Management Consultancy and Advisory Services

Our Vision Statement

Our Vision is to become the preferred choice of landlords and tenants when it comes to property rentals in the whole of the United States of America.

  • Our Mission Statement

We are a company that is established with the aim of helping tenants (people and businesses) get the properties of their choice and to help property owners (landlords and group owners of properties et al) effectively manage and maximize their properties in the United States of America.

  • Our Market Goals

The fact that the property market is indeed a booming market means that investors are always going to be attracted to the industry. No doubt it is difficult to see multi-millionaires who don’t have interest in investing in properties. This is because real estate investment is one business portfolio that is common to all multi – millionaires in the world.

In essence, the more people acquire properties, the higher the chances of property management companies securing business deals. Also, as long as tenants are always in search for accommodation, there will always be business for property management companies.

We have perfected or sales and marketing strategies and we are set to hit the ground running. We are quite optimistic that we will meet or even surpass our set target of generating enough income / profits from the first month or operations and grow the business beyond Atlanta, Georgia to other states in the United States of America within record time.

We have been able to critically examine the real estate market and we have analyzed our chances in the industry and we have also been able to come up with the following sales forecast.

The sales projection is based on information gathered on the field and some workable assumptions as well;

  • Rent / lease a minimum of 30 housing units to clients (flats, duplexes, studio apartment et al) within the first 6 months of operations
  • Rent / lease a minimum of 20 office facilities to clients within the first 6 months of operations
  • Manage a minimum of 20 properties for clients within the first 6 months of operations
  • Sell a minimum of 20 hectares of land within the first 12 months of operation
  • Provide advisory and consultancy services for a minimum of 10 client per month
  • Handle a minimum of 20 building makeover projects within the first 12 months of operations

What we aim to achieve from our market efforts are as follows:

  • To be listed amongst the top 10 property management company in the United States of America (within a 5 years benchmark)
  • To become the number one choice when it comes to property management services in the United States of America
  • We want to build a self – sustaining property management business that will contribute to the growth of the economy of the United States of America.

Our Marketing Budget

Our market budget for our property management company is put at 10,000 US dollars for the first year of officially launching the business. This is so because we have been able to study the industry, and we know that winning clients is easier when you are competent and trustworthy.

Relationship is also a key factor when it comes to meeting and surpassing your market target and we are going to go all out to secure relationship with property owners; they are our major market.

Going forward, we will budget between 5 percent and 10 percent of our annual income towards marketing and promoting of property Management Company in the United States of America and also in the international market in order to attract international property investors.

Property Management Marketing Plan – MARKET ANALYSIS

  • Property Management Industry Overview

In 2009, statistics has it that the total revenue as recorded of the property management industry in the United States of America was about 59 billion U.S. dollars. Regardless of the widespread expectations of slowing rent growth in 2015, the industry still experienced growth. In the 3rd quarter of 2015, apartment growth hit an all – time high in the United States. This is as a result of escalating prices from the West Coast.

  • Interesting Statistics About the Property Management Industry

Although the sales generated from other industries of Property Management Services are less than those from Residential Property Managers, but beyond every reasonable doubt, this line of business is still experiencing steady growth.

The property management industry is highly fragmented and statistics has it that the top 50 property management companies generates less than 25 percent of the total revenue generated in the industry; smaller and medium scale property management companies accounts for the rest.

For example, in 2014, the federal government of the United States of America spent a total of $189,718,950 on Residential Property Managers basically for coordinating repairs of government facilities. The federal government awarded about 273 contracts to 47 companies, with an average value of $4,036,573 per company – majority of the companies that got the contracts fall within the top 50 property management companies in the United Stated of America.

Going forward, the Operating conditions for the Property Management industry are projected to remain positive over the next five years, and thereafter, it may likely slow down at some point in the future. Which is why in the next few years, the value of residential construction will experience huge growth due to improved consumer confidence and low interest rates, causing an increase in the housing stock.

It is also important to note that, the US home ownership rate will also experience increase. In essence, fewer consumers will require property management services. So, it is important for property management companies to start positioning their companies to diversify now so as to remain in business in the future.

Accommodation is amongst the top needs of humans which is why people do all they can to secure a roof over their heads or a place to run their business from. This is perhaps one of the factors that influence people to start their property management companies. They know that if they are well positioned and they have good relationship with property owners, they are likely going to generate huge properties from the business.

Other factors that influence people to venture into the property management industry is the fact that you can start the business with minimal start – up capital and you can make good returns from the business within a short period of time.

  • Our Target Market

Our target market as a property management company cuts across people of different classes of people from all walks of life. We are coming into the industry with a business concept that will enable us work with the highly placed people in the country and at the same with the lowly placed people who are only interested in putting a roof under their head at an affordable fee that won’t be so much of a stress to raise..

Although, finding tenants is relatively easy, but the truth is that finding qualified and law abiding tenants can be somewhat challenging.

It is important to note that the target market for those who are into property management business goes beyond those who make use of the internet (Craigslist to search for properties; some of them only rely on the print media (local daily or weekly newspaper both in English and in Spanish for the Spanish community in the US), some rely on the word of mouth mode of adverts and others on street to street search. The bottom line is that, the market trend for property management business is indeed a dynamic one.

In other words, our target market is the whole of the United States of America and below is a list of the people and organizations that we have plans to do business with;

  • Families who are interested in renting / leasing or acquiring a property
  • Corporate organizations who are interested in renting / leasing or acquiring their own property / properties
  • Land Owners and landlords who are interested in renting / leasing out their properties
  • Corporate organizations (real estate agencies, property development companies et al) who are interested in renting / leasing out their properties
  • Foreign investors who are interested in owning properties or leasing properties in the United States of America
  • Managers of public facilities

Property Management Marketing Plan – SWOT Analysis

No doubt, property management business is perhaps one of the easiest and cheapest ways of entering the real estate business. As a matter of fact, all that is required to do pretty well in this line of business is a high school diploma, experience in property management and the right network and connections.

As such, there are loads of entrepreneurs who are in the industry. But in order to compete favorably in this line of business as a property management we hired the services of Mr. Meclee Johnbull a tested and trusted business and HR consultants to help us conduct critical SWOT analysis for us.

As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Hilary Tyson and Co Property Management Company;

  • Strength:

Our strength as a property management company lies in the fact that we have a healthy relationship with loads of property owners (landlords) in the United States and we have some of the best hands in the industry working both as full time employees and consultants for us. We can confidently boast that we have some of the qualities that are in high demand in the property management line of business which are trust, honesty and relationship management.

  • Weakness:

Our weakness could be that we are a new property management business in the United States and it may take us time and extra effort to convince landlords to give us their properties to manage for them.

  • Opportunities:

The opportunities that are available in the real estate industry are massive and we are ready to take advantage of any opportunity that comes our way.

  • Threat:

Some of the threats that we are likely going to face as a property management company in the United States of America are unfavorable government policies, global economic downturn and unreasonable tenants. There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.

  • Our Competitive Advantage

Hilary Tyson and Co Property Management Company obviously is a newbie in property management business, but one thing is certain; we have done our homework and we have been able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors are trust, honesty, good network and excellent relationship management.

Another competitive advantage that we are bringing to the industry is the fact that we have designed our business in such a way that we can comfortably work with both the highly placed clients and the lowly placed clients. Lastly, our employees will be well taken care of, and their welfare package is amongst the best in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our objectives.

Property Management Marketing Plan – SALES AND MARKETING STRATEGY

  • Sources of Income

Hilary Tyson and Co Property Management Company’s major aim, is to maximize the profits in the real estate industry via delivering quality and affordable property to our highly esteemed clients and effective property management on behalf of our business partners (landlords and property owners). Below are the sources we intend exploring to generate income for Hilary Tyson and Co Property Management Company;

  • Developing Properties for our Clients
  • Renting of Properties /Leasing of Properties; Leasing for a fee or percentage of the gross lease value.
  • Sale of Fully Furnished Properties
  • Sale of Landed Properties
  • Lease of Bare Land
  • Manage Properties and Facility for Clients
  • Property Makeover Services
  • Real Estate Consultancy and Advisory Services; Hourly Consulting for a fee, based on the client’s needs.
  • Home Selling Kits — guides advising how to market and sell a property.

Sales Forecast

The fact that the property market is indeed a booming market means that investors are always going to be attracted to the industry. No doubt it is difficult to see multi-millionaires who don’t have interest in investing in properties; real estate investment is one business portfolio that is common to all multi – millionaires in the world.

In essence, the more people acquire properties, the high the chances of property management companies will secure business deals. Also as long as tenants are always in search for accommodation, there will always be business for property management companies.

We have perfected our sales and marketing strategies and we are set to hit the ground running and we are quite optimistic that we will meet or even surpass our set target of generating enough income / profits from the first month or operations and grow the business beyond Atlanta, Georgia to other states in the United States of America within record time.

We have been able to critically examine the real estate market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some workable assumptions as well;

  • Rent / lease a minimum of 30 housing units to clients (flats, duplexes, studio apartment et al) within the first 6 months of operations
  • Rent / lease a minimum of 20 office facilities to clients within the first 6 months of operations
  • Manage a minimum of 20 properties for clients within the first 6 months of operations
  • Sell a minimum of 20 hectares of land within the first 12 months of operation
  • Provide advisory and consultancy services for a minimum of 10 client per month
  • Handle a minimum of 20 building makeover projects within the first 12 months of operations

N.B: Please note that we could not put a specific amount to the projection because the prices and commissions vary for different properties and for different clients. Part of our business strategy is to work within the budget of our clients to deliver quality property / properties, hence it will be difficult to project what we are likely going to make from such deals.

But the bottom line is that we are definitely going to make reasonable profits from any business deal that we execute since we work based on commissions. The property management market is structured in such a way that property managers will always make profits from any deal they handle as long as they conducted due diligence before signing the deal.

  • Our Pricing Strategy

Part of business strategy is to ensure that we work within the budget of our clients to deliver excellent properties to them. The real estate industry is based on commissions and properties are valued by professionals based on the area the facility is located, the type of facility and other factors.

Since we are not directly in control of the pricing system in the real estate industry we can only abide by what is obtainable when it comes to pricing structure. Part of what we intended doing that will help us cut cost is to reduce to barest minimum all maintenance cost by renting / leasing any property under our care to responsible tenants who won’t cause damage to our facility.

Our Unique Selling Point; What Makes Our Property Management Company Superior to Our Competitions

Our unique selling point as a Property Management Company is the fact that we have devised strategies to minimize the risk of litigation and the risk of damage to rental units and also we have perfected strategies to maximize profits by simply slashing vacancy rates and repair and maintenance costs of all properties under our care.

Much more than renting our properties out to tenants, we intend to build a loyal customer base and part of the plans that we have put in place to achieve this is to offer incentives to law abiding tenants under our care. Part of what we intend doing is to offer lower rent for tenants who agree to enter a long – term lease agreements with us and also to create a system where points will be awarded to loyal tenants – a point-based systems for redeemable rewards.

As a property management company, we are going to be both proactive and reactive when dealing with issues as it relates to our tenants. We are quite aware that most issues can be cleared up easily if addressed immediately, but when they are left to fester they can result in lawsuits, damaged rental properties, and payment defaults et al.

Benefits Our Client Stand to Gain When They Patronizes Our Property Management Company

As part of our plans to make our customers our number one priority, and to be listed as part of the top 10 property management company in the United States of America, we have perfected plans to work with our clients to effectively manage their properties in such a way that the value of the properties under our management will continue to appreciate as against depreciating.

We will also ensure that we treat our tenants with outmost respect as enshrined in the constitution of the United States of America. As a property management company, we are going to abide by the Fair Housing Act, which means that we will not single out one particular demographic group when sourcing for tenants for our properties.

In view of that, here are the benefits our customers and potential customers stand to benefits when they patronize our services:

  • Standard and affordable properties with full functioning facilities( for tenants)
  • Free consultation services as regards future investment in any real estate related business portfolio et al. (for landlords)
  • Good value for their money

Strategic Marketing Alliance with Our Competitors in the Property Management Industry

When it comes to the property management industry, there is a slight possibility for competitors to form strategic marketing alliance. This is so because in most property management companies will do all they can to maximize profits in the business and maximizing profits is all about increasing the numbers of properties they manage.

Well, one of the reasons that may warrant a property management company to form a marketing alliance with another property management company is perhaps when they secure a business deal to manage a property for a client in a location that is far away from their base or locations where they are not licensed operate.

For example; if property management company A that is based in New York City, secures a deal to manage a property in Maine; and yet do not have the license to operate in Maine, all they need to do to pull things off, is to outsource the contract to property management company B that is based in Maine and is licensed to operate in Maine.

Our Client Retention Strategies (Ways to Improve Our Customer Experience)

As a property management company, our major clients are landlords who give us their properties / lands to manage on their behalf. These are supposed to be big time clients who would only continue to do business with us if they get good returns on their investment.

The truth is that, if a company is able to achieve over 60 percent retention the company will sure experience huge turn over and such company is classified as a healthy company. We have perfected plans on how to improve our customer experience from time to time and to continue to improve on our customer’s retention.

These are the ways we intend utilizing when it comes to improving our customer experience so that we can create a good impression and generate repeated business from them:

  • Ensure that we effectively manage properties under our care and continue to improve the value of the properties
  • Offer lower rent for tenants who agree to enter a long – term lease agreements with us
  • Ensure we get feedbacks from our customers at all times
  • We will create a system where points will be awarded to loyal tenants – a point-based system for redeemable rewards. Make use of effective customer relationship management (CRM) software to effectively manage our clientele base.
  • Ensures that we carry our customers along when making decisions that directly affect them.

Possible Ways We Intend Offering Incentives to Our Clients (Bonus, Discounts, etc)

Part of our marketing strategies which is clearly stated in our business plans is to ensure that we offer our customers / tenants incentives in order for us to retain them and of course to continue to generate repeated business from them and also to attract new customers / tenants. We know that if we are going to win our own fair share of the existing market, then we must be willing to outsmart our competitors.

Part of the incentives that we intend dishing out to our highly esteemed customers / tenants is to give them free consultancy services, as it relates to renting / leasing apartments or purchasing properties. We will also give our existing customers / tenants the opportunity to be the first to access any opportunities that is available through us. This means that if we have any property that is up for rent, lease or sale, we will give preference to our existing customers before making it available to the general public.

We will also create a loyalty plan that will enable us reward our loyal tenants who have been able to stay in our properties for a long time, paying their rents without defaulting, keep our properties under their care in good shape and who also refer our services to their family members, friends and colleagues.

Rewarding them could be giving our customers discounts anytime they patronize us and also giving them gifts during special occasions like Christmas, New Year, Thanksgiving, Independence Celebrations and Easter et al.

  • After Sales Service and Customer Support Services

When it comes to after sales services for a property management company, the natural thing for us to do is to ensure that after a tenant rent our property, we will continue to be on ground to maintain the properties and to fix anything that needed to be fixed before the tenant moves into the apartment or after they’ve moved into the apartment.

We will also ensure that we have regular meetings with our tenants to discuss their challenges as it relates to their apartments and how we can proffer solutions going forward.

Regarding customer support services, we will maximize our customer relationship management software applications so as to keep in touch with all our tenants and landlords alike and to make sure we carry them along when we have any promo that we know will benefit them (tenants). We will also ensure that we offer free real estate consultancy services to our loyal clients (both tenants and landlords).

10 Possible Questions We Intend Asking Our Clients during Our Market Survey

  1. Are you satisfied with the quality and standard of our property that you rented, leased or purchased?
  2. If you are not satisfied with the quality and standard of our properties, in what areas would you want us to improve on going forward?
  3. If you decide to change location, what area would you want to relocate to and what kind of accommodation would you be looking at renting, leasing or purchasing?
  4. How would you want us to communicate to you when we want to pass useful information that will be of benefit to you or someone you know (i.e. when we have property for sale, lease or rent et al)? Through letters, text messages, e – mail, or via mobile apps (BBM, twitter, 2Go, We Chat, WhatsApp et al)
  5. Are you satisfied with our property management style? If no what areas would you want us to improve on? (For landlords)
  6. If you have a property for rent, lease or sale, would you freely give it to us to help you manage them?
  7. Are you satisfied with the facilities that are available in our properties?
  8. If you are not satisfied with the facilities that are available in our properties, which additional facilities would you want us to include in our properties?
  9. Can you comfortably recommend our property management company to your family members, friends and colleagues who are landlords or who are potential tenants?
  10. Are you satisfied with our customer service delivery? If not what areas would you want us to improve on?
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