Below are two prospecting letters for property managers. These are samples you can model for your business. These letters were designed to be mailed to a list of owners of unoccupied homes, second home owners, or any property owner who is renting their property or wants to rent their property. You can get such lists from a mailing list company or a title company.
Another list you should consider using are expired listings. These are widely available, or you can get them for free if you are a licensed Real Estate agent through the MLS.
Sample Prospecting Letters For Property Managers!
City, State, Zip
Maintaining a property and looking after renters can be a challenging job. You have to make sure your property is up to code and maintained, you have look after tenant complaints and repairs, collect rent, and find new tenants.
These are just a few of the areas that you can outsource to a rental management company like [name of company]. We take on all of the time consuming and stressful challenges that a property rental can bring.
Here Is What We Will Do For You:
- Work with prospective tenants. This way you don’t have to do background checks and weed out the wheat from the chaff.
- Work with your current tenants. This will save you a great deal of time and stress because when it comes time to collect rent, respond to repairs and complaints, and deal with evictions. We do it all for you.
- Handle maintenance of your property. If you stay on top of maintenance it will keep most of your tenants satisfied. Consistent maintenance will keep your property in shape and as a result it will improve your chances of charging higher rents or getting a higher return on your investment if you decide to sell in the future.
This is just a partial list of the benefits that we will provide you as your property manager.
Here’s what some of our current clients have to say:
- Testimonial about how much time they have saved.
- Testimonial about how much stress is relieved.
- Testimonial about how they should have hired [name of business] a long time ago.
If you have any questions at all please call me at 555-555-5555 anytime, or you can e-mail me at firstname.lastname@example.org.
I look forward to hearing from you soon.
City, State, Zip
Phone | Email
PS: If you would like us to take the burden of renting your property, finding tenants, working with tenants, and maintaining your property so that you can spend more time pursuing other things that you enjoy please call me at 555-555-5555 (or e-mail email@example.com) so that we can discuss your particular situation.
Second Follow Up Letter
City, State, Zip
Two weeks ago I sent you a letter regarding your rental property and I did not hear from you. I am sure you were too busy so I thought I would try to reach you one more time.
Would you like to save time finding tenants, working with tenants, and maintaining your property?
Here Are Six Reasons To Use [Business Name] Property Management Company:
- Higher Quality Tenants: We perform a thorough and professionally executed screening process which will help you avoid bad tenants and rental scams.
- Less Vacancies: We will help you keep your rental property rented by determining optimal rental rates, suggest and oversee property improvements, and effectively market your property.
- Consistent Cash Flow: We have a tight rent collection process where we collect rent for you in a non negotiable, professional manner. No longer will you have listen to excuses and be uncomfortable. We will hunt down money that is owed to you, and when necessary we will handle the eviction of a non paying tenant.
- Lower Maintenance and Repair Costs: Our in house repairmen and network of licensed and bonded contractors will repair and maintain your property which will make your tenants happier, and potentially increase the value of your property over the long haul. We give our contractors a considerable amount of work which translates into bigger discounts which cost less than calling contractors from Yelp or other websites.
- Less Legal Problems: We are well versed and updated on landlord and tenant laws and as a result you’ll be less vulnerable to potential lawsuits.
- Tenant Retention: As you know it’s very costly and time consuming to clean, change carpet and locks, paint, and repair damages on a frequent basis. Our time tested policies will result in a higher retention rate.
If you would like us to take the daily stresses of managing and renting your property off of your shoulders, or if you have any questions about our services please call me at 555-555-5555 (or e-mail firstname.lastname@example.org).
I look forward to speaking with you.
City, State, Zip
Phone | Email
PS: If you decide to use my [name of business] to manage your property I will take half off your first months management fee (expires ____________). Please call me to discuss your situation today.
Property Manager Marketing Letter Tips:
- I suggest you include a promotional item in your letter to make it ‘lumpy’ and to also keep your business top of mind. For example, let’s say you send something like a pen or a refrigerator magnet along with your letters. One day, long after they said no to your letter sequence, they may be using your pen or getting something from the fridge. And on that day they may need your services.
- One of the best benefits of using a property manager is the stress relief. Why not send a third follow up package which includes a stress relief device?
- Try attaching a ‘grabber’ to the top of your letter (like the second letter in this sequence). It has a similar ‘lumpy’ effect as described above. Perhaps you could use a worry stone or a sea shell as the grabber:
As you can see I’ve attached a sea shell to the top of this letter. Why have I done this? Two reasons:
- I wanted grab your attention because what I have to tell you is important.
- [Name of business] will instantly take the stress of managing your property off your hands and free up your time so you can go to the beach!
This is just an idea to keep your marketing juices flowing. There are thousands of grabbers you can use that you can tie into your message.
The main lesson here is that you need to grab the attention of your reader and get them to read your letter. And if the letter was targeting the right audience with the right message you’ll get a response. Heck, one new client will be worth far more than the small investment in quality mailing.
Prospecting For Property Management Clients!
Here’s a few tips on how to grow your property management business.
- Search through craigslist for properties for rent that have been on market for a while. These people usually are not doing a very good job of marketing their property for rent or they don’t know what they are doing. Call or write them.
- Do you see those ‘for rent’ signs all over town? Call the phone number and ask for their business, or send the owner a letter.
- Get a list of second home owners and mail them a letter.
- Market to local real estate agents. Many agents have clients or prospects that have decided not sell or want to rent their property and they either don’t want to deal with that side of the business. Send them a letter explaining the benefits of using your services and give them an incentive to do so (check laws in your state regarding incentivizing).
Regardless of what methods you use, keep them all on your list (unless you know for absolutely sure they don’t want your services or your mailings). Mail to them at least 6-12 per year. And use a newsletter!