Filling vacancies can be very competitive – when there are other properties available, sometimes you’ve got to work pretty hard to close a deal.  Managing leads is extremely important so you stay organized, keep track of your marketing expenses and find which marketing channels are the most effective.

According to Software Advice, a lead management system can help property managers to: :

  • Keep track of potential leads and their contact info.
  • Prioritize leads to indicate which ones are actually sales-ready. For example, trying to market to a prospective resident who has no intention of moving for 6 months or a year is not going to be beneficial.
  • Tracking the follow-up with leads is also essential so you can appropriately nurture the process. This includes keeping tabs on how you’ve connected with these potential residents and when the last point of contact was. For example, did you simply do some online property management marketing, or is the resident someone you spoke to on the phone, or even someone that you actually showed the property to? Remembering (and documenting!) this information when you touch base with them the next time will also make the prospective resident feel as though you’re offering superior customer service.
  • Do a cost-benefit analysis of all marketing efforts. This data will also help you to determine if perhaps your strategy needs changing, or if it’s good just the way it is!

It’s important to be sure that your lead tracking solution is built into the property management software – this will make the process so much easier.