Starting a Letting Agency – marketing tools
After the success of last month’s blog on internet marketing tips for estate and letting agents I thought it would be a great idea to try a little something different this week. A more subtle and extremely under-used form of marketing is the utilisation of your customers for word of mouth promotion, in this case it’s the tenants and landlords. Word of mouth marketing has been defined as ‘a face to face conversation between consumers about a product or service experience’. From my research into the area it can also be defined from the agency’s point of view as the ‘Intentional influencing of consumer to consumer communications by professional marketing techniques.‘ Okay, so we know exactly what the term means know from two perspectives, let’s discuss three ways in which to implement some word of mouth marketing techniques.
#1 Utilise what you have first
Stop worrying about all the different ways to market your services to new landlords and tenants. Obviously the more traditional mediums are still of use but it is the dawn of a new era, so agencies need to start thinking outside of the box. In fact, launching new campaigns, which I will mention below, can have a double effect as you start to build relationships with your current clientele while developing the potential to spread your agency via positive peer to peer communication. Check out the video below from a previous blog on Rentview, where I touch on word of mouth potential with tenants at the end.
#2 Stop shouting, start listening
I often see large banner ads placed along major property websites with prices listed for management fees to landlords. Nothing wrong with this obviously, for an integrated marketing communications plan you need to have 360 degree branding (hitting the target market with your message at as many points of contact as possible). However, what is the most trusted influence on a landlord in my opinion? I would say their fellow property owners and what they have to say about a service they have experienced.
#3 Rewards and relationships
Your tenants are handing over a lot of money – hundreds and often thousands per month for the lovely property you have given them. Obviously that’s the deal in place, but in the long run you want them to continue their stay for many years to come. That means, in my opinion, that you need to stay in touch and build and maintain that relationship with your database. What about creating a monthly newsletter with some property tips from your agency team? What about a monthly competition where you invest 300e of current marketing spend into a nice gift like a smart phone to raffle via your social media pages? These are just a couple of quick ideas on how to relationship build for the future.
That’s my top three tips, I hope they were of some help to any agents reading and please give us your feedback and thoughts by heading over to the Facebook or the Twitter pages. I leave you with some happy customers!
So today in the office we are testing some new developments with the software set to roll out in the near future. I am going to briefly explain the first set of work which has been done and show you some sneak previews of what agency accounts are set to look like soon. If you look at the image below you can see a new button known as “landlord accounts” has been added to the system. This feature update was developed due to new legislation laid out by the N.P.S.R.A (National Property Services Regulatory Authority) requiring increased regulation of monies collected and paid out to landlord clients.
The new feature will allow agents to eliminate any errors made when taking in rental payments, adding the necessary deductions and forwarding payments to their landlords. Once a rent has been marked as paid, the landlord’s accounts page will automatically be updated to remind you of the money to then be paid/transferred to their account. For example look at the rent due below of €1400 on a property, normally this will be marked as paid and then I need to remember to forward on moneys owed to the landlord.
With the new feature (see the image below) the system automatically updates the landlord’s accounts page reminding you of the outgoing payment that is due to your landlord and ensuring the entire process is managed efficiently with NO mistakes.
Hope you look forward to the roll out of these new accounting features as we do and as always if you haven’t liked the Facebook page, do it now 🙂 and follow us on Twitter for more blogs and other great content. Thanks guys!
Landlord Management Software
OK so a little late sharing this with you, had this in drafts to go be published Friday but Rentview was featured on major Tech news site siliconrepublic.ie last week. The Irish website featured an article on the new Rentview Tenant Profile service we offer to tenants. The full article including quotes from Rentview co-founder Colin Napper is below, please share this with your friends to help us out:
Irish online rent and property management start-up Rentview has just soft launched a new service for renters so they can build up a a free online tenant profile for landlords and agents.
Rentview itself was co-founded in 2010 as a rent and property management cloud-based platform for estate and letting agencies. The site’s co-founders are Andreas Riha and Colin Napper, both previous owners of a letting agency in Dublin.
Napper said they soft launched the servicethis week to tie in with students looking for properties, as the new college year kicks off.
“The purpose is to allow people to build a profile, upload references and share them with landlords and agents to get rentals more quickly.”
He said the service also includes an inventory app that works on the iPhone and will shortly be working on Android devices.
“The inventory app will allow people to document the condition of a rental property once they have received the rental offer from an agency. This means they can protect their deposit.”
Napper said that via this app people can log photos and they can also speak into their phone to dictate their voice notes and create a report on what the property looked like when they moved in. “They can print that report off and get it signed by the landlord. Then, when they are moving out tenants can do a moving out report.”
He said tenants can make their overall profile private and allow agents and landlords to access it by sharing their URL and a unique password.
According to Napper, rentals in Ireland are up 47pc since 2007, meaning there is strong competition for the right property.
He said the aim is to launch the tenant profile service in other markets over the coming months.
Click the share buttons above the article to help us raise awareness of this super new service for tenants. Thanks guys and this week we are looking to push out some interesting and helpful content to the property community, Cormac.
Hi guys and welcome to this short blog with a reminder of some of the great new services we are now offering agencies since our official launch in March of this year. Originally a platform designed to manage rental payments for agencies we have grown and adapted our services in accordance with the market and are customers. So I want to briefly mention three of my favorite new services today and link you to some more information so you can see what we have been doing.
#1 Agency Marketing and offering a White label service: One of the main areas of feedback we received from our customer in their early stages of use was the concerns about losing their branding and possible confusion of their clients when using the property management software. Watch the video here where Rentview co-founder Andreas Riha takes you through the new branding features.
#2 Automatic Lease Generation: Another area in which our growing customer base expressed a need for was the automation of the lease for a tenancy. Rentview went straight to work on this new feature and it is now available across all pricing platforms. When you start a lease the software will automatically input the tenants details while allowing you to include any of your own special conditions. Allowing your tenant to view before signing saves you time – for more click here and you can see how it all works.
#3 Partial Payments: Lastlywe have the new ability to manage part payments of rents due. A big issue many of our clients faced was tenants not lodging the full amounts owed into their accounts. Rentview can now allow you to edit amounts received and generate the remainder as still owed on your statements page. For an example of how this all works you can head over to our vimeo account here.
Thats it for today please click the ‘like’ to share onto your social networks and drop a comment with your feedback , thanks guys. Cormac
The team have been hard at work lately preparing for the launch of https://tenant.rentview.com/ a new free service to tenants. The new service was designed to help a tenant through the letting cycle by:
- Aiding them in securing a property and becoming more marketable.
- Help with the moving in process and management of Utilities.
- Help them protect their deposit and the landlords assets through Inventories
- Act as a payment reference for future properties or loan requirements
All great services to offer to people currently renting property throughout Ireland and abroad.Take a look at the homepage below for a better idea of the service:
As mentioned in point one above the online service aids a tenant in securing the desired property of their choice. Once a tenant joins tenant.rentview.com they can start building their profile. This can include uploading a profile image and a short description of who you are and your requirement. You can also begin to upload some previous landlord references, a work or college reference , guarantors reference etc. All of this important information is now stored in one secure place and ready to be shared with the landlord or letting agent of a property you wish to rent. This saves you time and money in organising your references and also improves your chances of securing a property which may be in high demand. Here is a quick video describing how to get started with your account:
I will be continuing this blog series over on the new tenant blog at http://rentviewtenantprofile.tumblr.com/ along with the student renting series. Look out for some more great content on this blog as we look to continue the online marketing series and up the humorous content too! Thanks for listening guys, follow me at @Rentview_ and the new @Rentview_Tenant profile and don’t forget to like us on Facebook here and here.