7 Pro Tips to Improve the Lead-to-Lease Conversion Process for Your Single-Family Properties
Many property managers know that lead-to-lease conversions are a tough nut to crack. There are many methods you can incorporate into your operation to increase your lease-to-lease conversion rates. If you are trying to find a way to increase your lead-to-lease conversions, then you should consider consulting experts like myHomeSpot.com.
Technology is one of your best and most affordable assets in your mission to improve the stats on your lead-to-lease conversion process. There are multiple ways to weave technology into your advertising and management of the property to increase your yield. If you are determined to improve your lead-to-lease conversions yourself, this article will give you a few handy tips on how to do it.
Revamp Your Traditional Marketing Process
Proper marketing is indispensable when generating and converting leads. The kind of marketing you do will determine how many viable leads you can acquire and, consequently, your lead-to-lease conversion rate. If you have been running the same print and radio ads for some time, it is essential to change them monthly.
Diversify By Using Online Advertisement
Traditional advertising methods still have their benefits. However, the online advertisement comes in various forms and price tags. Another great advantage of digital marketing is that it can be easily targeted towards your desired target audience by moving your advertising online and hyper-focusing on your targeted geographic region and demographic pool.
Customize Your Online Listings
Your business website has to be inviting and easy to use for your potential clients. A crowded and confusing website will have potential leads disappearing before you have a chance to contact them. A great website pays for itself by projecting a professional image by offering many convenient features for your prospects to utilize.
Hire a Professional Website Designer
Engage a professional website designer or use premium website building software to use customizable widgets. Widgets will allow you to market yourself using creative ways, e.g., embedding social media posts, displaying 3D virtual tours, displaying a tour scheduling appointment, and enhanced filters that allow prospects to search for homes using parameters like price and location.
Track Your Online Listings In Real-Time
After you put your listing online, you have to pay close attention and follow up on new leads in real-time. Customizable software allows you to decide how to connect with your leads and connect them to your marketing material. Such software will also generate helpful reports like how many views you get and how many of this translates into actual leads.
All the advertising in the world will be lost if you are not aggressively keeping up with your online listing in real-time. Any interest from prospects must be given appropriate traction to increase your lead-to-lease conversion rates. There are many applications you can use to notify you when a candidate inquires.
Utilize a Leasing Contact Centre
Your office is likely to get many calls from prospective tenants who have mundane inquiries that do not necessarily require to be handled by staff. It is advisable to use a leasing contact center to handle initial inquiries and pass on the most viable leads to your office staff. When you prevent your team from being distracted by phones ringing off the hook, they have more time to spend chasing likely leads. Running a smooth and efficient operation is one of the best ways to increase your lead-to-lease conversion.
Digitize Tenant Screening, Lease Signing, and Payment Alternatives
Once a lead has expressed a solid interest in leasing your property, it is prudent to take as little time as possible to close the deal. Many online softwares can perform a speedy background, financial and criminal check. The quicker you dismiss or qualify a tenant for your property, the faster your lead-to-lease conversion time.
The more of your lead-to-lease process that is available to prospects online, the faster and more successful your lead-to-lease conversion process shall be. Ensure that all your properties have a detailed online application process that offers e-signing of the lease and e-payment of the rent. This is very convenient for your prospective clients because they can complete the whole process while on the go.
Prospective tenants will base their final decision on the property itself and the convenience and ease of doing business with the property manager. You can save a lot of money by employing technology to plug any leaks in your lead-to-lease conversion rate. Make sure it is straightforward for clients to find, view, apply, sign and pay for your property online.