If you’re a landlord, you know how difficult finding a great renter can be. If you’ll soon have a vacancy and want to fill the spot as quickly as possible, consider an open house. Hosting an open house is an efficient way to place tenants and will save you time and money.
Start Advertising Early
If you want to ensure the best pool of candidates, make sure you list your property early, and use the proper avenues to post it. Don’t rely on only Craigslist; use certified listing websites like Live Lovely or Apartmentfinder.com and take the time to create a high-quality listing. That means high-resolution images and detailed information. The better your listing, the more likely you are to attract better and higher-paying renters.
Encourage Competition
The easiest way to make someone want something? Show them that others are interested too. Instead of scheduling multiple private appointments, plan a timeframe for all prospective renters to come view the property. Ask a friend to come along and help you run interference while fielding questions from various candidates, and save yourself multiple trips back and forth to the property. By showing that your property is in demand, you may be able to secure higher rent rates, and you’ll place a tenant sooner rather later.
The Current Tenant Situation
If you already have tenants living in the space, make sure you schedule the showings for a day they’ll be out for at least a six-hour window. This will give you ample time to show and clean up anything you need to before guests start arriving. You’ll want to ensure the place is as spick and span as possible, so offer financial incentives to your current tenant to ensure the place is in mint condition before showing it. Offer a discount on this month’s rent or a reprieve from utilities for the month—you’ll be surprised what a little bit of incentive like this can do for your situation. If you think the property needs a bit more TLC, hire a one-time cleaning crew like MaidBrigade.com to come in and give it a scrub down.
Picking the Tenant
You’ve now been presented with a bevy of qualified applicants, so how do you choose? Never let yourself be talked out of a background check, even if a tenant offers to pay you more each month. Something is being swept under the rug, and you’ll want to find out what it is before you allow them the keys to your property. Use a site like www.mysmartmove.com to ensure you have all the information you need to make an educated decision; with checks like these, you’ll have access to a potential tenant’s eviction and criminal histories, along with their credit score.
The Proper Materials
Don’t show up to your own open house emptyhanded. Print out some fliers with the top selling points listed on it for potential renters to peruse as they walk through the home and take with them at the end of the showing. Providing your open house goes well, you may have tenants ready to lay down the deposit on sight. As such, make sure you come prepared with all of the application materials you need. It’s also a good idea to communicate the need for deposit checks before hosting the showing. It will expedite the process and contribute to a sense of competition amongst potential renters.
Creating Ambiance
Your top priority is to make the home feel welcoming to prospective tenants. Increase the amount of natural light streaming into the property by opening up all curtains, and replacing old, heavy drapes with lighter, sheer versions. If the property doesn’t see a ton of natural light, do what you can to replicate the look with artificial lighting. Use low-energy lightbulbs that give off natural-like rays, always avoiding the harsh glow of fluorescent lights. Another easy way to contribute to a welcoming vibe is to capitalize on the power of scent. Scent is closely tied to memory, so make sure the smells in your property are contributing to a good one. Bake some cookies, use scented candles, or even peel some oranges in the kitchen before guests come in—you’d be amazed at the power of smell.
Hosting an open house to rent out your property is a great way to save time, money, and stress, and will help you efficiently locate a great renter in no time at all.
Nice article, Thanks for sharing this information with us. This is very helpful to find tenant or attract people to your property.