Magazine article Journal of Property Management

The Value of Indirect Marketing

Magazine article Journal of Property Management

The Value of Indirect Marketing

Article excerpt

Every building owner believes that his or her property has the best location, the best design, and the best amenities. Unfortunately, this just is not always the case. In addition to a good product, a property needs good marketing to be a success.

Marketing can be divided into direct marketing-soliciting tenants, developing leasing brochures, and so forth-and indirect marketing. It is in the area of indirect marketing that the property manager is most likely to be heavily involved.

What is indirect marketing?

Indirect marketing involves the many, small, often unnoticed, efforts that keep a property competitive. Indirect marketing means keeping physical aspects of the property in perfect order-landscaping crisp and eye-catching, vacant units spotless, and everything working properly.

However, the property manager's role in indirect marketing also extends to serving as a source of property information to the marketing and leasing team. As the individual in most direct contact with tenants and operations, the property manager is a prime source of data used in leasing efforts.

Physical management

First impressions mean a great deal in leasing. Even minor flaws, such as dirty windows or a missing lightbulb, may leave a negative feeling with a prospective tenant. One of the most valuable contributions the property manager makes to a marketing effort is ensuring that the property is spotless at all times. just a few of the many minor points that contribute to an overall effect of a good property include:

* Keep vacant units absolutely clean. Employ a janitorial service to wash windows, sweep the floors with sweeping compound, dust high ledges, remove cobwebs, and spot clean doors for fingerprints.

Prospective tenants should feel they could eat off the floor.

* Keep restrooms clean and well-stocked with toilet tissue and paper towels, even if the property is vacant.

* Spot repair and paint the walls a light, neutral color, even in a warehouse. Not only does this give the office or warehouse a better appearance aesthetically, but it projects the image of a clean, well-kept property.

* Replace damaged ceiling tiles and burnt-out light bulbs.

* Clean carpeting and consider replacing it, if necessary.

The property manager should tour all vacancies once a month to ensure that this image is maintained. it is our belief that if prospective tenants are psychologically comfortable with their surroundings, they are much more receptive to the leasing message.

Tenant awareness

Another area in which the property manager may be beneficial to marketing efforts is in tenant relations. While performing weekly property inspections, the manager should work to establish a rapport, or better yet a friendship, with current tenants.

Tenant visits help the manager know what is going on at the property and learn of any problems which need correcting. The tenant knowledge that the property manager gains also assists the marketing staff in preparing renewal or expansion presentations.

Another avenue for learning more about tenant needs and concerns is a biannual questionnaire mailed to all tenants. Tenants are asked to rate management performance and to evaluate property appearance and service.

The questionnaire should also ask if the tenant will be needing additional space in the next six months. …

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