Why Market to Renters
Here are the top 10 reasons to focus on Renters:
1) Rent Increases, just getting too expensive to continue renting
2) Job relocation to a new city or area
3) Wish to move to a different area to be closer to their job, family, friends, school, hospital, etc
4) Issues with management, neighbor or neighbors; loud neighbor(s) moved in, dogs continuously barking, no parking, etc
5) Need more space, outgrown space with a new addition to the family
6) Divorce or getting married, downsizing or increasing family size
7) Becomes a homebuyer's market, realizing it is the right time to buy and own real estate
8) Maintenance issues, the property always needing maintenance with bugs, water leak, needing updated carpet or paint
9) Need less space, their current residence is too big, downsize in family members
10) Tired of climbing up and down stairs, looking for a single family house
Reasons Why People Maybe Renting
1) Present or Past Credit issues such as a Bankruptcy, Foreclosure, Collection(s) or Judgement(s)
2) New to the area, job relocation and renting til they find a house to buy
3) Think they may not able to buy a house because of:
4) Do not have a down payment, thinking it takes 20% or more for the down payment
5) One income and that is all they can afford is their monthly rent
Which Renters to Target
Picking which renters to mail is key to your success. Here are some filters to follow when selecting your data.
1) Find apartments or houses/condos/townhouses near your office, people like to have that comfortability of knowing they can drive to your office if need be
2) Apartments/houses/condos/townhouses that have rental payments that can support a mortgage payment within a couple hundred dollars up or down of their rent monthly rent payment
3) Write down the areas you wish to target for your data, need to do your homework on which apartments to mail or which houses/condos/townhouses within a 20 to 25 miles of your office. If you are in a high-density population you may not need to go that far out
You may already know some local apartments to target that have mid to high rental payment. Target those apartments because they should have the credit and income to qualify for a home purchase.
**Statically renters will buy within 12 miles of their residence, they know the area and familiar with the surroundings.
Where to Mail Renters
Do your research on which apartments you wish to mail. Remember you will be mailing renters a postcard or letter every other month or at a minimum once a quarter, so pick 1000 to 2000 addresses.
1) Chose the ones near your office by doing your search online with sites such as https://www.apartmentguide.com, https://www.zillow.com/rent, https://www.apartments.com, https://www.realtor.com/rentals
2) When researching those apartments, look at these items
3) Check good and bad complaints and reviews that you see on Google Plus reviews, type in "apartments in (your city)" and see what the google reviews are and check out https://www.apartmentratings.com for reviews and do not forget about Yelp reviews
4) Once you have selected your apartment complexes to mail do, drive by at night where most renters are home from work and/or a weekend. The reason to drive by is, to make sure you are not wasting your time, money and effort on mailing to apartments that are going to yield a low response because of vacancies
USPS website to verify apartment address https://tools.usps.com/go/ZipLookupAction_input
What to Mail Renters
There are two types of renters you can target via mail.
Apartments and Residential properties you can mail either a postcard or a letter, even a combination of both
Just remember; whatever you send, make sure the weight remains within the bulk mailing cost or first class stamp weight.
How to Mail Renter Postcards
The Pros between a postcard mailing versus a letter mailing
The cons between a postcard and a letter
The postcard should be oversized, but not too big where it will not fit in a standard mailbox. The size of the postcard should be no smaller than 4.25" by 5.50", that is a good size where the postcard will stand out and fit in the mailbox.
Use bright colors that stand out, like Yellow, Goldenrod, Pink, Orange or Green and make sure to use an ink that is not too dark where it may blend with the darker color paper or to light where you can not read the print on lighter paper.
Best cardstock paper is Yellow or Goldenrod with black ink. That is one color for the bulk mail house, the more colors you use, the printing cost will be more expensive.
Creating the postcard, make sure to use:
Look at teaming up with an Insurance Broker, Life Insurance Broker or a Real Estate Agent to help split the cost of the mailings. Insurance brokers work best because Renter's may be required to have Renter's insurance for the residence or apartment they are renting.
Also, look at obtaining your own permit number for bulking mailing. Here is a link to the USPS on Bulk Permit https://pe.usps.com/businessmail101?ViewName=PermitApplication
How to Mail Renter Letters
How to address the outside of the white self-adhesive number 10 envelope
When to Mail Renters
If you can budget for it, mail out every month to an apartment complex(es) and one to two times to the residential renters. If you can not budget for that many mail outs, think about every other month or at least once a quarter.
Statistics show that April/May and September/October have the highest turnover in apartment renters. So you will need to mail a postcard or letter 60 days before those months if you chose to mail out less than every other month.
For those renting residential properties, mail a letter at the end of March and focus on the benefits of owning a house since that is around tax season. The postcard mail out at the beginning September to emphasis owing a home to celebrate the holidays in.
**Articles to see the research**
If You Need Our Assistance with a fully done for your Renter System
Check out https://www.mortgagemarketingpros.com/p/renter-to-owner-marketing-system to have instant access to all the steps, videos and handouts to deploy and implement a successful renter to owner campaign.
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