1. Promotion and Advertising
Chapter 12
Promotion and Advertising

2. I. Promoting Your Firm A positive image will increase your business
Be sure to include the Internet and “social networking” in your promotional plans

3. I. Promoting Your Firm (cont.)
A positive image will increase your business
MEETING OWNERS
Membership in Property Owners Groups
Public Speaking
Accountants are a good group to speak to because they can influence clients into seeking professional managements.
Teaching
Religion
Organization Membership

4. I. Promoting Your Firm (cont.)
PRESS RELEASES
PERSONAL PROMOTION
NEWSPAPER COLUMNS
PROFESSIONAL JOURNALS
PROFESSIONAL ASSOCIATIONS
Gaining professional designations within the association you are active in will increase your personal reputation as well as that of your firm.

5. I. Promoting Your Firm (cont.)
MANAGEMENT SIGNS
LEASED SIGNS
LOGO IDENTIFICATION
YELLOW PAGES
You should consider more than a bare minimum yellow page ad.
INSTITUTIONAL ADVERTISING
Institutional advertising sells your name rather than a product.

6. II. Sources for Obtaining Management
The basis of property management is to have property to manage. Without management contracts there can be NO property manager.
REFERRALS FROM OWNERS
REFERRAL FEES FOR MANAGEMENT
Brokers who have the greatest chance to provide you with management opportunities are brokers who specialize in investment property.

7. II. Sources for Obtaining Management (cont.)
BIRD DOGS
NEIGHBORS
GETTING OWNERS TO BUY
PROPERTY SALES
BANKS
The size of your trust account will dictate the leverage you have in dealing with a lender.

8. II. Sources for Obtaining Management (cont.)
VACANT PROPERTY
PROBLEM PROPERTY
Code Violations
Evictions
Where the tenant owes many months rent it is indicative of poor management.
Tax Delinquent Properties
Poor Maintenance

9. II. Sources for Obtaining Management (cont.)
NEWSPAPER ADS
Rental Ads
Ads for Trade
For Sale By Owner
REAL ESTATE INVESTORS
DEVELOPERS
SPECULATORS
Local brokers dealing in investment properties can give you the name of many speculators active in your market area.

10. II. Sources for Obtaining Management (cont.)
FANNIE MAE
WHEN THERE IS A MANAGER
Do NOT criticize the property management firm handling the property.
We regard property management as a profession and those engaged in it should act as professionals.

11. II. Sources for Obtaining Management (cont.)
CONSULTING CONTRACTS
Beware of the owners who want your services but have NO intention of paying for them.
LEASING

13. III. Promoting Space FEE SPLLITTIING ADVANCE FEE RENTAL AGENCIES
Cooperation is in the best interest of your owners and your refusal to do so could raise questions as to ethics, and could be a breach of fiduciary duties.
ADVANCE FEE RENTAL AGENCIES
USE OTHER TENANTS

14. III. Promoting Space (cont.)
“FOR LEASE” SIGNS
Signs and banners proclaiming space or units available for rent or lease are the most cost effective advertising available.
TALKING SIGNS
Some property managers who use talking signs use a locally recognized voice for the message.

15. III. Promoting Space (cont.)
FLAGS, BALLOONS, AND THE OPEN HOUSE
THE INTERNET
You should also take advantage of “social networking” sites, such as Facebook®, Linkedin.com®, Craigslist.com®, Youtube.com®, and Yellowpages.com®
PERSONNEL OFFICES

16. III. Promoting Space (cont.)
CHAMBERS OF COMMERCE
BILLBOARDS
PUBLIC TRANSIT ADS
CLASSIFIED ADS
Ads should indicate area, size (number of bedrooms), and monthly rent.

17. III. Promoting Space (cont.)
DISPLAY ADS
SELECTION OF NEWSPAPERS
Daily Newspapers
Weekly Throwaway Papers
Foreign Language Papers
When advertising, you must be careful to avoid illegal steering.
Special Interest Papers

18. III. Promoting Space (cont.)
RENTAL MAGAZINES
MOVIE SCREEN ADS
RADIO
TELEVISION ADS
TELEPHONE SOLICITATIONS
NEIGHBORHOOD WALK-AROUND
FURTHER AD HELP

19. Chapter Summary Promoting Your Firm Sources For Obtaining Management
Promoting Space