Believe it or not, the art of cold-calling applies in the field of property management as well. So why should you pick up that phone?
1. It’s a renters’ market.
2. The hey days of the dot-com boom and a soaring stock market are over.
3. Renters are perusing rentals and for lack of a better term, they’re haggling and getting good at it. Even those with less than stellar credit hold a bargaining chip in this market.
So instead of joining the swelling ranks of ‘vacancy sign’ posters, many landlords of furnished, corporate properties are picking up that phone and making some calls.
Who should you call?
Call the big and small corporations in your town. Call the non-profit agencies. Call the municipal offices. Call the international consulates. Call the neighborhood school districts. You can even call the supermarkets – a lead can be generated from anywhere!
Let me share with you the power of good old fashioned cold calling:
I got a lead recently that resulted from a prior cold call connection I had forged with a condo HOA. A condo owner’s unit was flooded. It was caused by a building issue and she needed a furnished place to stay while the insurance company was taking care of the repairs. She wanted to stay in the same building. Later that day, that owner’s HOA office referred her to me as a potential tenant because I had previously networked with the building’s HOA staff.
Remember, by networking with a local school, you may hear about a local school teacher who has visiting relatives in town. By networking with a local hospital, you may learn about a doctor will be spending the next few months in town. By networking with a university, you may learn about a visiting professor for the next school year.
Cold-call, network, go and meet the office manager, talk to the HR person. Offer to email them pictures. Drop off a business card or some fliers. Get on their radar because your next tenant may just come from this new network and you don’t want to miss out!