Viewing the competition's rental units - a question of boundaries

[William Sumnicht]

In general, I consider myself a social person. I enjoy being around and interacting with other human beings. But when it comes to calling the numbers on the "for rent" signs on the same street as a rental I'm involved in, I don't feel great about it. It's not because I feel uncomfortable picking up the phone and calling a stranger. It has to do with the fact that I'm the competition, doing market research, and wasting the property manager's time on a showing that is guaranteed not to rent. With that in mind, I definitely don't feel comfortable with non-disclosure, but full disclosure seems to come with it's own set of issues.

So my question is, those of you that do get out and look at the available rental units near yours, what have you done to move past this? Where do the ethical boundaries lie, and what has your response been from the person at the other end of the line?

[Kimberly T.]

I don't have a problem with calling to ask about rent, amenities, etc., but I wouldn't set up an appointment to actually view the interior. That's where I draw my line, anyway.

[Account Closed]

I agree with Kimberly. Making the phone call is fine, but it's not cool to waste the owner/property manager's time with a showing.

[Jon Holdman]

Agree with the others. Calling is OK, scheduling a showing isn't. I've taken calls I know where from other landlords. And on one of those we exchanged numbers and agreed to keep an eye out for any issues with each others properties.

If you view listed properties in your area you can often get a look at rentals. That's a way to get an idea of what other properties are like.

[Matthew Paul]

Calling the competition , its a great opportunity for networking , yes they are the competition , but they can also be great allies . There are 4 rentals in my neighborhood , I know all the owners , I had a family of 6 look at my house and they realized it was too small for them , I made 2 phone calls , and found out that one guy was having a vacancy in 2 weeks , they rented his house . He sent me a gift card to a rather nice restaurant .

[Michael B.]

I used to call rentals and try to be cagey about who I am. However I've found with owners I can call and be totally truthful that I'm another landlord and interested in his place to compare pricing and features. They're almost always glad to talk about it to another landlord.

The exception is if the call goes to a management company instead of an owner. They're not too helpful.

But if it's the owner on the line they're usually very eager to talk about the property and pricing with another landlord.

[Ryan M.]

I always call but most of the time know the owners and use it more as a reason to talk for a bit.

I check our local area for ads every day and always look at the pictures to see how there looking and stay up on pricing comps.

[William Sumnicht]

Thank you all for resting my discomfort, here. I feel a thousand times more comfortable just calling with full disclosure, a request for info, and maybe having the opportunity to make a new friend in the business.

Thought I saw it advised a couple places here to get into the units. I just couldn't figure out how anyone was doing that comfortably.

@Jon Holdman In my, albeit limited, but few projects of experience, that's how I've always done it (nearby online listings). I love that you and @Matthew Paul create new alliances doing this.

@Michael B. Good call. I like that way much better.

@Ryan M. I look forward to being at that stage.

[Aaron G.]

I would have no problem calling and talking to a landlord. I am not sure I would call to schedule a showing just for myself, but often times around my area they will have an open invite showing and I would not have a problem going to that.

I like the idea of calling around and being honest with other landlords, networking, and inviting them to our local bigger pockets meet up group.

[William Sumnicht]

@Aaron G. Love that plan.

[Account Closed]

Call them, tell them you are a neighboring landlord and ask if they would be willing to share any of their contractors or subs or handymen. If so, then ask if you can stop and see the completed work. Make it convenient for them, by visiting when they already have showings scheduled or when they're checking in on the unit. A lot of people really care about their contractors and want to get them more work.

[Kathleen Leary]

One of the other landlords here in town gave me an hour-long tour of her property (in between tenants), showing me all the repairs, improvements, etc. I also have some "flipper friends" who insisted I take a very nice, large piece of unused carpet for one of my rental bedrooms. Maybe it's because this is a small town, but I find that folks are very happy to have someone to share war stories with, and very forthcoming with information about their properties, as long as you're upfront about your own position.