If you’re in the business of selling student housing or accommodations, it’s important to learn how to market such properties. Student renters have a lot to consider when it comes to choosing the best places to stay within or outside the campus.
Maintaining a student housing portfolio involves a great deal of creativity. In order to attract tenants to these assets, you will need to expend time, money, and effort in terms of promotion.
Whether you are promoting duplexes for fraternities or off-campus alternatives to dorm living, these marketing tips will be a great help.
1. Advertise on social media
Social media marketing will always be a valuable part of your campaign. This is mostly because platforms such as Facebook and Twitter have become an important marketplace for student housing.
To run a successful social media campaign, you can create a separate Twitter handle for your business. Other than, you can use Facebook’s Marketplace service to list your home rental inventory. Make sure to provide high quality photos of the property that go along with highly effective descriptions.
2. Offer freebies
Who doesn’t like free stuff? You will definitely attract the right renters for your properties if you provide them something to look forward to. So, when you advertise for an open-house visit, you can offer free finger-food and drinks. You will need to announce it through the marketing channels you are using so you can motivate people into taking the tour.
Aside from food, you can also give out other free stuff like lanyards, pens, and generally anything the students can use.
3. Give out flyers and brochures
Potential renters will need to obtain information to be able to make a decision. Flyers and brochures can provide genuine help along these lines. Other than providing your properties with exposure, well-detailed and designed handouts can also provide student housing leads with possible options to consider.
In designing flyers and brochures, make sure to choose effective color palettes and graphics that are attractive to student renters. If your marketing budget allows it, you can produce glossy and professional-looking informational materials.
4. Give out incentives
Aside from free food, you can also give renters incentives such as coupons to a local film showing or free drinks at a local watering hole. Other incentives can also take the form of free laundry services and bike rentals.
Other incentives may include vouchers for free books as well as discounts to the local farmers’ market. Finally, you can also consider running a referral program where you can give cash discounts and other incentives to student renters who refer a friend to the property.
5. Word of mouth
The power of word of mouth marketing can still be felt today, mostly because people are more likely to engage a promotional message from their friends or anyone close to them.
For this, you can ask people who are close to you if they can market your property. That way, you can easily generate a good number of student housing leads. This is on top of the gains you have acquired through social media marketing and other means.