Partnering with other local businesses is a great way for landlords to promote their properties and grow their business. As a landlord, you may be overwhelmed by this idea and not sure where to start. The first step is to identify local businesses that would mesh well with rental properties and then reach out to the company. As a landlord, you could also put together a package of exclusive discounts for new tenants, which could be just partnering with one business and providing a benefit to tenants or it could be putting together a whole book of businesses with discounts for new tenants and call it an exclusive discount package that you offer with a new lease. Here are five types of businesses you should consider partnering with.
1. Local Gyms
Working with small, locally owned gyms are a great option for landlords. One way to do this for single family rentals is to propose a discounted membership rate for a few months for new tenants and, in exchange, you will market the gym to all your potential tenants at open houses. This gives you a benefit you can provide to attract new tenants and also gives the company exposure.
If you own an apartment complex, you could consider having the local gym “sponsor” your workout facility for a few months. They could put up banners, set out marketing materials for fitness classes and even have a trainer come in a few times to help recruit your tenants to attend their fitness classes and, in exchange, also market your property on their social media.
2. Dog Parks and Veterinarians
If you own a pet-friendly rental property, you should market to pet owners. Some dog parks offer sponsorships, and for those that don’t, you could visit in-person and talk with pet owners to provide them with information on your pet-friendly property. Local veterinarians also supply information to their clients on local pet-friendly businesses, and there are many opportunities with vets to market your business. Ask to provide information for them to supply to clients, and if you have a website you can purchase some branded slip leashes or other pet products and give them to the vet to give away to clients.
3. Local Furniture Stores
As a landlord, furniture stores may be a great option for you to market your listings. One option would be to see if the furniture store would like to stage your property with furniture and have a sales team member on-hand at an open house, in exchange they can provide your new tenant with a discount on new furniture.
4. Remodeling Companies
Reach out to local remodeling companies in your area and see where you can work together. For some, they complete jobs where the homeowner will need to briefly move out, and they may be willing to recommend your property to their clients who need a temporary rental in exchange for mentioning them on your social media pages or referring their company to fellow landlords.
5. Landscaping Companies
Landscaping companies and landlords have a lot to offer each other. One opportunity is for the landscaping company to landscape the front lawn of a single-family rental before a showing or open house and put a sign in the front yard and brochures inside. You could also see if you could get a discount on landscaping for all of your properties in exchange for referrals to other landlords or referrals to tenants if you don’t pay for landscaping at your properties once they are rented.
As a landlord working to market your properties, collaborating with other small business owners may give you a marketing edge and help your community. Don’t be scared to ask other business owners what benefits you may can provide each other, the worst they can say is, no thanks.
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Rebecca Moseley is a freelance journalist, marketing consultant, and real estate student. Visit her website at RebeccaMoseley.com to contact her and see more of her work.