A leader in property management training has said print advertising of rental properties is "dead" in metropolitan areas, but it still remains important in regional areas.
Leading Property Managers of Australia (LPMA) executive director Bob Walters said in this day and age property management businesses usually put their listings into real estate portals.
“Tenants are very accustomed to using the portals to look for available properties and, in particular, the 'mobile-friendly' apps that the major portals have,” he told Residential Property Manager.
“In my view, in metropolitan areas, print advertising of rental properties is dead.
"However, in my experience, print advertising in many regional areas is still alive because the costs are lower than metropolitan papers and a greater percentage of people in those areas tend to read newspapers as opposed to online media,” he added.
Mr Walters said the only value that print advertising has to PM businesses is to assist in building a business profile.
Also speaking to Residential Property Manager, BDM Academy director Tara Bradbury said when advertising in general, it is really important to research your area to make sure it is going to reach your target market.
“For me, when I was working in the Harvey Bay market we had a high population of retirees and they liked to read the newspaper,” she said.
“So if we had a property that was suited to a retiree, or something along those lines, we wouldn’t necessarily have that just on the internet – even though I know that is the way the world is going.
“At the end of the day, any age demographic can take on a property, but if you know it is specifically targeted at a uni student, well then you have to focus on where uni students look, and predominately that is online.
“But if you are focusing on a retiree, I know that in the Harvey Bay area print advertising still works very well and it is still very successful,” she added.
Ms Bradbury said she still believes print advertising holds importance in the PM industry.
“For me, when I was selling my team, I used it to my advantage that all of those options were available, so it was important for me when I was talking to an investor that there isn’t just one form of advertising that works,” she said.