Over 56 million senior citizens live in the U.S., making up almost 17% of the country’s population. With this much potential clientele, it makes sense to invest in senior housing. Not only will you have a passive source of income, but you’ll also be helping elderly folk find a comfortable place to live.
However, it would be best if you utilized the right marketing strategies and tools to attract potential tenants. This is especially true for seniors since they have special preferences and needs. Read on to learn six tips on how to draw in amazing residents for senior housing.
1. Make Your Rental Property Senior-friendly
To attract senior tenants, you must modify your property according to their needs. Your prospects are already advanced and not as strong or flexible as younger tenants. Assess your property to see if it can accommodate senior living.
Many seniors already have difficulty seeing, with approximately a third of them having vision-impairing conditions. They will appreciate it if your property has bright or cooler lights installed to help them see.
Slips and falls are also common among the elderly. Over three million seniors are sent to emergency rooms due to fall-related injuries. Your rental property should have slip-resistant flooring to gain their favor and ensure their safety. Having handrails on the stairs is also important.
The bathroom should have safety features as well. You can install grab bars in the shower and toilet area. A single-handle faucet control, hand-held shower heads, and non-slip mats would also be welcome additions.
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By providing senior-centric accommodations, you’ll increase the demand for your senior housing property and attract more prospective tenants.
2. Create a Website Tailored to the Senior Market
Unlike in previous decades, when only young people use the internet, seniors have become more active online. Around 75% of those aged 65 and older go online. You should not limit your property advertisement to traditional placards and brochures. Create a website that older folks will find appealing and easy to navigate too.
Website design and layout are essential. The colors should not be too strong for the eyes, and the font should be big enough for seniors to read. Moreover, it should contain pictures of your property, emphasizing the senior-friendly facilities you have in place. A concise yet precise description of the property and other essential information should also be included.
Moreover, it would be best if you implemented search engine optimization (SEO) to increase online visibility. Research the words seniors usually use when searching for a rental property online, and include those keywords in your site’s content. This will help improve your site’s overall search ranking.
3. Set Up an Online Leasing Platform
Most senior citizens cannot commute to sign a lease agreement or pay rent. You’ll do them a favor if you set up an online leasing platform.
An online leasing software will allow you and your tenant to enter a lease contract electronically. This eliminates pen-and-paper errors and gives you a secure online record of your lease transactions. It enables you to screen senior tenants, accept applications, and conveniently collect their rents.
This is a great selling point to elderly tenants since it allows them to manage and keep track of their lease obligations in the comfort of their homes. If you need help developing digital leasing software, ExactEstate can help you.
4. Advertise Your Property Through Social Media
Contrary to past notions, the elderly are no longer strangers to social media. Around 45% of seniors use social media like Facebook, Twitter, and Instagram. You should promote your senior housing rental property on these platforms.
Post pictures of your property highlighting the areas senior tenants will find appealing. Many senior citizens also like peaceful and inviting communities, so post snapshots of the surrounding neighborhood to promote its friendly vibe.
You can also upload videos showcasing the comfortable life and exciting events that await prospective tenants if they rent out your property. Videos are effective advertisement tools, with almost 80% of marketing professionals stating that promotional videos have positively impacted revenue generation.
Moreover, paid social media advertisements can drive more traffic to your posts. Recently, social media sites like Facebook and YouTube have been aggressive in dishing out advertisements. You can take advantage of this trend to reach many prospective senior tenants. You’ll pay a small premium for these ads, but it’s more than worth it if you get a fantastic senior resident in return.
5. Give Prospective Tenants a Tour To Remember
Tenants rarely tour just one facility and immediately sign the lease contract. They usually visit a couple of rental properties and weigh their options. If you fail to give them a memorable and informative tour, your property can be quickly dropped off their lists.
You have to prepare before meeting your prospective tenant. Anticipate all questions they can ask about the property and prepare precise responses for each. If an agent is doing the tour, ensure they know your property from the ground up.
Moreover, first impressions matter in senior housing tours. Your property must be clean and presentable, and the facilities should be in good working order.
A virtual tour option would be a good backup if the prospective tenant can’t visit the property. This gives you an edge over other landlords and rental property investors who only offer traditional in-person tours.
6. Ask Current Residents To Be Brand Ambassadors
While a good pitch can go a long way, there’s still no better way to promote your property than getting testimonials from those who have lived in it. You can ask some of your tenants in the community to be brand ambassadors and promote your other rental properties to prospective tenants. They can do this by speaking at community events, conducting tours of the property, or posting their experience online.
Setting up a referral program where tenants refer potential lessees is also a great marketing strategy. Since the referral will come from someone with first-hand experience on the advertised property, prospective tenants are likelier to show trust and interest.
Final Thoughts
From making your rental property senior-friendly to setting up a digital leasing platform, there are many ways to draw in amazing residents for senior housing.
If you want a reliable and secure online leasing platform or other assistance on digital property management, look no further than ExactEstate. We provide top-tier yet affordable rental property management solutions. Visit our site to request a demo.
