Why am I not getting applications back!

Question

I bought my second and third rental property back to back and, after a little rehab, I am trying to rent them out. The tenant for my first property came super easy but I am having no luck getting applications back for these houses. I have talked with about 10 people/families that I would really like to rent to and, they seemed very interested, but they never return the application! And never respond to my follow up. These are C and B neighborhoods but the houses are priced $25 below market rate and I know they are the nicest houses in the neighborhoods. At first, I used a printed application and I was going to meet up with them the next day and collect $25 to run the screening; but I never hear from them. I have now been trying to use SmartMove and I have sent numerous interested families the application but they don't respond! Recently I have been telling people that if your application is accepted that I will take the fee off first months rent. Doesn't seem to matter. I have literally received zero applications back in a month.

Is it normal to get people that seem very interested but never so much as look back once they leave? What am I doing wrong?!

Jay Hinrichs · Answer

this is the toughest time of year to rent... if and when you rent at this time of year try to get your least to end 14 months later not 12 right at Christmas and have to do it all over again.. or do it shorter like 9 months then give them another 9 just so your not vacant at the holidays.

Gail K. · Answer

It's not unusual that folks will ask for an application but then you'll never hear from them again.   In some cases the idea that you do screens on your applicants scares these folks off (it's not unusual that applicants that know their credit history stinks will deliberately seek out private landlords hoping they DON'T screen).

You're not doing anything wrong except, perhaps, not doing enough phone screening to weed out those folks who wouldn't meet the criteria you've set (you do have criteria in terms of no history of evictions, income at least so many times the rent, etc. etc.. right?).

Whenever we have an available rental, I get lots of calls and the first thing I'll be asked is "when can I see the property?"   I automatically think "hold on there fella;  let me ask you a few questions to see if you meet our criteria" in an attempt to screen out the "lookyloos" who haven't a chance in heck to rent the place.

Gail

Jeff B. · Answer

IMO,  BE HAPPY you didn't get some back - - I call this prospect self-screening.  They see the information requested and don't want to disclose - - and that's fine by me - - they saved me time and effort.

I put a box out of sight on the units containing the applications.  When someone calls, I can ask if they've seen the exterior or might be in the area so I can direct them to the applications.  We can talk and I can make notes as to my impressions to consider/if when the application does arrive.

For me, getting vacancies filled before the new school term is really important as year-end is always problematic.

Peter Tverdov · Answer

Sometimes it depends on the area. I was screening "normally" in a D area recently. After not getting much luck for 2 weeks I spoke to a mentor of mine who told me that I was eliminating 75% of the interest through my application process. I'm not telling you to be lax, but there is more than one way to skin a cat.

Jay V. · Answer

Thank you Ed. I am starting to see that you are right. Another thing I learned the hard way is to avoid vacancies this time of year!!

Ed B. · Answer

Jay, let me clue you in to something I learned awhile back. For some reason, it's just human nature for some people to lie. A lot of this "interest" you claim to be getting is probably feigned interest. They never return the applications because they were never very interested to begin with. It's easier to pretend being interested than to tell you they don't like the floor layout or the paint colors. I was trying to sell a house once, where I got lots of compliments about it, but no  offers.  Your rent may be too high, or your screening standards may be too strict. Something seems to be scaring away the prospects. You may have to bluntly ask a few people to tell you why they chose not to apply. Normally, finding applicants should not be too difficult. With the right price and decent advertising, you should be getting applications, but it could just be the dreaded time of year when fewer people are wanting to move.

Russell Brazil · Answer

@Jay Hinrichs is right that this is the toughest time of the year to rent. Thanksgiving to xmas every where is hard. Im in a major metro area and I have a vacancy.

I also tell people that with Mysmartmove, they should check their spam folders. It does end up in there alot.

Jay V. · Answer

Thanks for the reply, Gail. In most cases I do have a few questions that I ask first, unless I am going to be over there already anyways. The questions are: Any past evictions? How many people will be living in the home? How many incomes contribute to the household? Is it more than 2.5 times the rent? and How long do you plan to rent for?

I appreciate your reply and I will keep moving along. In fact, I did have one prospect say that they want to see the home again before they pay for the application process. Let's see how that turns out!

Why am I not getting applications back!

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