Advertising, Phone Calls, and Showings

Advertising, Phone Calls, and Showings

Real Estate Investor · Columbus, OH · Member since 2013 · 114 posts · 21 votes

On the last go round of finding tenant for our SFR 3 years ago we were new. We stuck a sign in the yard and when someone called we went running (we live within 5 minutes) to show the property.

This time I am taking a more educated and organized approach.

Here's what I have set up so far and keep tweaking as I go along.

1.Set up a Google Voice # specifically for the rental - includes a brief description of the property as well as requirements if I don't pick up the call

2. Programmed the GV number in my phone with a special ring tone so that I know to be prepared and answer the phone more professionally

3. Made up a call log sheet to keep track of calls. I included all of the important points about the property as well as minimum requirements so that I don't forget anything and check them off as I go along.

4. Listed the property on Craig's List - with a detailed listing including some pictures. I did not list the address - only the area of town and disabled the email option

5. Put a sign in the front yard.

Since Friday I have fielded approx. 50 calls/voicemails. I have already learned some of the following:

1.Lead with #of BD/BA,no basement, monthly rent, and SD. This info tends to end 40% of the calls right away for the one that have seen the sign.

2. If they stay on the line I then pull out my sheet and start going through the info and asking questions before I agree to show them the property.

3.If they are calling from Craig's list I do not offer the address right away, only the nearest cross streets. Most times I make the appointment and tell them I will call them an hour before our appointment time with the address and directions.

4. If they saw my sign and make an appointment, I call them an hour before the appointment to confirm.

5. I also set up an appointment calendar and try to schedule showings close to each other.

Out of all of these calls I have scheduled 10 appointments, 3 from the sign were no shows so far (which led to the confirmation call). I've observed that the sign generates more calls but not necessarily more leads. And so far all of my Craig's List appointments have shown up but not applied.

Would anyone else like to share their strategies or things they have learned.

How do you advertise your property? How do you handle phone calls and showings?

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  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    12y

    @Angie W.

    Looking good on the call logging/screening. We also set-up an e-mail address specific to each unit we are advertising and include it in our on-line advertisements. E-mail to this address is handled by an auto-responder which responds to the enquiry with more information about the unit/property, a copy of our application & guidelines, and available viewing times.

    With respect to showing units we have traditionally set aside blocks of times - say two or three evenings and a Saturday or Sunday afternoon. Within these blocks we book 20-minute viewing appointments with 5-minutes between them. We do not show the property outside of these viewings.

    We accept applications throughout the viewing windows and up until a set date following the final viewing {we communicate this date to all prospective tenants}. We then process applications in the order received and offer the property to the first qualified applicant.

    After saying all the above, we have altered our approach to showing some properties - our student houses in particular - thanks to input from @Dawn Anastasi. In these cases, we are holding more of an Open House where we tell all interested prospects that we will be showing the house between {say} 14:00 and 16:00 on Saturday. We are experimenting to see if this works as well, or better, than blocks of appointments.

  • Real Estate Investor · Columbus, OH · Member since 2013 · 114 posts · 21 votes
    12y

    @Roy N.

    I'll have to check into email with an auto responder...never thought of that.

    Do you find 20 min appts. to be long enough? I've been doing 45 min - 1 hr. apart which I have discovered is too long and leaves me sitting. I've also thought about the open house concept.

    Right after I posted this I got a call for an appointment - after setting the time they mentioned the previous squatters (last tenants psycho girlfriend) name who lived in my house unauthorized and trashed it after she had him arrested. This is the very reason I didn't want to put a sign in the yard. There is no way on Gods green earth I would rent to anyone who knows this girl on any level. But now I am stuck showing it - couldn't think of an excuse - even though I know she won't qualify. Ughh.

  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    12y

    @Angie W.

    I find 20-minutes is usually ample time to show a flat or a SFR. I sometimes allow a little longer if showing one of our student houses to a group of 4-6 students (there are always lots of questions).

    Often we will get folks who wish to complete their application on-site - as opposed to those who come with their application pre-filled. We just have them to sit off to one side while we show the next appointment.

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    I have had much better success with the "open house" type format. Sometimes there are lots of "no shows". For example I had 5 people say they were coming and only 2 did. If I had scheduled 20 minutes and 5 minutes in between, what if those 2 that showed up were the first and last?

    I'd rather just schedule an hour's time and be there just one hour and everyone can walk through at once. I have applications onsite, and if people have questions I can answer them right there.

  • Real Estate Investor · Columbus, OH · Member since 2013 · 114 posts · 21 votes
    12y

    Thanks @Dawn Anastasi

    I think the open house is what I am leaning towards now. Makes it a lot easier and a little less time consuming. I think I will set up one morning and one evening during the week and one weekend day.

    Do you find it hard to juggle more than a couple of different groups of people at a time? Can you get a feel for them and keep them straight after an open house?

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    @Angie W. it helps when you're a people person and you remember faces. One other benefit of the open house is that everyone else sees they are not the only ones there who want the unit. I've had people write in the comments section of the application "We really really want this house!!!" and things like that.

    Another time when I was showing off the garage and another couple was inside the house filling out an application, the guy tried to imply that he would bribe me so that they could get the unit.

  • Investor · El Paso/Socorro, TX · Member since 2012 · 365 posts · 75 votes
    12y

    Similar to @Dawn Anastasi , I had a guy almost beg me to take his deposit and first month's rent after barely looking at the house, needless to say, he didn't get it. I figured if he was that desperate then he was probably being evicted from his last place.

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    If people glance around for a couple minutes then want to fill out an application, they're basically looking for anywhere to live. I also have once had someone (who was around all the other people filling out applications!) and offer me cash on the spot. When I told him he had to fill out an application like everyone else, he got very unnerved and asked me what I was looking for. I told him I do screening and he told me I just didn't like him and he left. There are some weird people out there!

  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    12y

    @Dawn Anastasi

    As I said above after an exchange with on another thread earlier this year, we've been experimenting with the "open house" approach to viewing flats/houses.

    One situation were have decided they do not work is when we are showing a property still occupied by our tenants as we were not comfortable with many people wandering though the house unsupervised - we felt it could expose us to claims of stollen property.

    We are looking for ways to overcome this {I've enlisted the assistance of my realtor to see how he stages open houses when selling ... albeit, it's a different audience} as most of our showings are of occupied units as we strive to have our properties re-rented several weeks/months before they become vacant.

  • Chris K.Pro Member
    Investor · Baltimore, MD · Member since 2012 · 1k+ posts · 655 votes
    12y

    I always do an open house format because of the high number of no-shows. I'll have 3 people say they're coming and only 1 show up. I'm fine with them all looking at the same time like someone else said it lets them know that other people are interested.

  • Colleen F.Pro Member
    Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
    12y

    For those of you who use open houses what do you do regarding logistics. Do you advertise an open house like they doing for selling or do you take calls and tell the interested parties there is an open house on Saturday. What lead time do you use for an open house? a week ? a couple days?

    @Angie W. I never thought twice about giving an address to someone interested or even listing it in the ad. Is there a reason you don't release the address (assuming the unit isn't vacant in a higher crime area).

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    @Roy N.

    I typically advertise properties when they are vacant (after I've purchased and rehabbed them). It's been only once that I tried showing off a unit when the tenants were still in there and I did individual showings so as to not have many people in there at once.

    Luckily I've not had that much vacancy so that made it easy.

  • Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    12y

    On your CraigsList ads, list the nearest cross streets - don't waste time fielding phone calls from those who don't want to be in that neighborhood. I don't give an exact address until I know that they want to see the place after talking with them - too many CL scammers out there.

    Since I'll have multiple signs up, when they call from the seeing a sign I ask where they saw the sign (because the house where the sign was might not be the one available, and then I tell them to look for a sign down the street or a block over or around the corner - whichever applies). I then ask what they're looking for since the signs don't give anything other than a phone number; if it doesn't match anything I have or know of being available (help out other landlords), I tell them so to end the discussion.

  • Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    12y

    BTW - getting 50 calls and only a dozen or so want to see the place - quite normal IMO.

  • Real Estate Investor · Columbus, OH · Member since 2013 · 114 posts · 21 votes
    12y

    @Colleen F. The reason I don't list this address is as Steve mentioned above - too many scammers. And the home is vacant so I don't want to blast it all over the internet. This is also the reason I don't offer the address right away on calls. I tell them the area it is in. Depending on how far the appt time is I tell them I will call with directions and the address a few hours before hand - this way I have more of a chance of them showing up.

    @Dawn Anastasi Do you just set a time for an open house and advertise it? Or do you just tell all prospective people about it when they call?

    @Steve Babiak Good idea about asking them what they are looking for instead of volunteering the specs up front.

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    @Angie W. yes I do put the showing date/time in the ad itself. Then people don't have to ask me when they can see the place. (Although some still do, as well as asking other things already in the ad.)

  • Rental Property Investor · Indianapolis, IN · Member since 2012 · 34 posts · 12 votes
    12y

    I just started doing the open house showings with some success. I had 8 no-shows in a row 2 units back and it was a real pain (lesson on a vacancy in December... don't do it...). The thing is, I don't tell people it's an open house, I just tell them they need to call or text me an hour before the showing to confirm they are on their way. At that point I will mention that others are looking at the place as well. This way they are not turned off when they show up to find this was not an exclusive showing. If they know it's an open house up front, I feel like they are less likely to show up or communicate at all. It does seem to add to the "competitive" feel, though it is a little harder to juggle everyone at once.

  • Bill S.Pro Member
    Moderator
    Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
    12y

    My take is that your phone time needs to be spent more on learning about the tenant than on selling your unit to the tenants. They call so they are interested. If they have questions answer them but spend most of the time listening. Ask them open ended questions and listen. Only set an appointment with those that meet your criteria. 1 showing to a good prospect is better than 10 looky-loos.

    I want to be as qualified tenant friendly as possible. Here is what I do for my own vacant units. No for rent sign, only Craig's List and I have the address. I do a lock box showing. After phone screening then I give them a code and they show it themselves. I leave extra aps in the unit. I know there are folks reading this whose head is spinning and mine did the first time I read about it. I have rented several units that way with no problems and I know others that have rented hundreds the same way with no problems. Think about the cost. How much does a vacant unit cost you in lost rent. Think one week more a unit per year and it adds up fast. With the number of units I have I can afford lots of rehab or to replace stolen appliances just by eliminating that week for all my units. So far I've had zero issues so it has translated to lots more money in my pocket.

    Now don't get me wrong things can go way wrong with this and it can cost you big bucks if they do. Think stolen appliances and copper or professional squatters. Not for the faint of heart but something to consider when you are pressed for time.

    If a unit is occupied. I only show 2-3 times a week at prearranged times up to 2 hours. Current tenant is gone during showings. If they don't fully cooperate or are slobs and the place shows bad wait until they move and follow option 1 above. I don't do open houses. Showings are scheduled every 15 min. If I get lots of calls I double book. I like this better than an open house because I found that everyone comes at the same time and the best tenants don't like all the competition. Knowing there are others looking is good cause it moves them to make a decision but 5 different parties looking at the same time I don't like. I can't keep track of very one (what if current tenant's stuff goes missing) and I don't get to meet everyone.

    No for rent signs. Only duds call for rent signs for the most part. Makes your house a mark for thieves. More risk in my opinion from for rent sign that from lock box showings.

  • Real Estate Investor · Columbus, OH · Member since 2013 · 114 posts · 21 votes
    12y

    All very good ideas...

    @Bill S. If I did a lock box on this property I would have squatters in there the first day I gave out the code. I do agree about the for rent sign...at least for this property. The people it has attracted have not been very attractive candidates - which is what I figured to start with. On the other hand my Craig's List ad does give me a more qualified candidate but so far no one interested enough to fill out an app. I also agree about the phone time. In my market it is really hard to steer them into a conversation. They simply call and say "when can I see it" and I have to steer them into a conversation. I have found that it is best to ask questions than to rattle off the requirements. They never pay attention anyway, and then show up with a sob story, or try to convince you they are able to pay etc.

    I hate having a vacancy this time of year. It is frustrating!

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    It's especially frustrating and a waste of time when the following people apply:

    1) people who do not have jobs

    2) people who are homeless

    3) people who just got evicted and are soon to be homeless

    4) people who do not meet the minimum income requirements

    5) people who lie about things on their application and think I'm not going to find out

  • Bill S.Pro Member
    Moderator
    Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
    12y

    Angie - think hard about the lock box idea. The only people that get the code are the ones you give it to. If they don't screen well they don't get the code. You control who gets the code. I think you can decide after 5 minutes on the phone who you would trust with the code. Remember only the select parties get the code after a phone chat with you. Sure you would turn away someone who would squat but they don't get the code. If you have any question about someone do an in person showing. I know someone that does this a lot and they definitely have low end rentals. They swear by it.

    Also, put the address in the ad. This cuts down on the calls from people who won't live in the area. Lightly stage it for the pictures and don't tell them it's vacant until you give them the code.

    It sounds like it's time for the $99 move in special. Offer to rent if for Oct for $99. Let's those still looking for Nov get a cheap move (only need SD and $99). Sets your place out from the crowd. Only the best qualified applicants get the special. No credit dings or past issues in order to get the special. Put it in your ad. You will still get more showings.

  • Real Estate Investor · Columbus, OH · Member since 2013 · 114 posts · 21 votes
    12y

    @Dawn Anastasi I totally agree!

    @Bill S. I can appreciate that the lock box may work in some instances. In this one it will not. It took me 2 months to get the psycho out of this property and she knows a lot of people in the area. She was more or less a squatter (conned my last tenant into letting her move in and then had him arrested) and still stops by the next door neighbors telling them she can rent the place. She thought she left on good terms with us. 1. she was not living there legally. 2. She trashed my house. She is a very good con artist and a professional tenant. I have reason to believe that she is having friends trying to get the place so she can move in with them. I have to be very cautious with this property. If I just trusted someone with a phone call, Lord knows who I would be giving access.

    As for the address on Craigslist. I will never do it. We just had a scam right here in my town that was all over the news a few weeks ago.

    I'm glad that it works for some people as I am sure it cuts out a lot of time. But it's just not for me.

    I am seriously considering a property manager for certain aspects of this property.

  • Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    12y

    I agree on the "no property address" for CL ads; the nearest cross streets / intersection gets them to the neighborhood, and that is what the prospect needs to know.

  • Los Angeles, CA · Member since 2013 · 555 posts · 261 votes
    12y
    Originally posted by Angie W.:

    Out of all of these calls I have scheduled 10 appointments, 3 from the sign were no shows so far (which led to the confirmation call). I've observed that the sign generates more calls but not necessarily more leads. And so far all of my Craig's List appointments have shown up but not applied.

    sounds typical

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