Technically, you manage properties. In reality, you manage people. In other words, without customers to serve, residents to tend to and contractors to keep track of, there would be no need for you to manage properties at all. The property managers that understand this are the ones who really stand out from the competition. And a great way to capitalize on this is to leverage the tools at your disposal to engage with the people in your network. Let’s take a look at a few highly effective ways you can use social media to do just that.

Relationship Building

Platforms like Facebook, Twitter and Instagram provide an efficient way to stay in contact with your residents, employees, customers and prospects. Utilize these tools to nurture those connections and demonstrate the human side of your property management business. Introduce your team, share community updates or host a contest or giveaway. The goal is to not only get as many genuine followers as possible, but to keep those followers plugged in and engaged with your brand.

Keeping Up with Trends

Knowing what’s happening in the property management industry as a whole, as well as with your target audience on a more micro level can help you hone your services to maximize profitability. You may think you know exactly what renters are looking for in a property, but by keeping a close eye on social media, you may find out you were missing the mark altogether. Not finding the information you’re looking for? Come right out and ask. The beauty of social media is that it’s designed to facilitate a dialogue, so use it to your full advantage.

Lead Generation

These days, people turn to social media to find information on just about everything, from what their friends and family are up to, to the new products they’re interested in and, yes, to find services and/or properties to rent. In other words, your prospective customers and renters are already on social media. Shouldn’t you be there as well? Tools like Facebook ads and hashtag marketing can help you find and connect with interested parties and hot leads.

Partnership/Financing Opportunities

An estimated 90% of all high net worth individuals (those earning between $100,000 and $1 million) are active on social media. In fact, many of them spend more than 48 hours a week on their accounts. Furthermore, more than five million of those individuals say social plays a role in their financial decisions. That represents a serious opportunity for property managers to locate investors and/or funding partners, establish relationships and build trust.

Using social media can provide new and exciting opportunities for your property management company to connect and engage with the people who play a key role in your success.