“Interested Renters” not applying

[Nelson Lin]

I’ve been having trouble getting people to apply to an apartment I’ve been trying to renting out. I’ve had 10 showings, half of which said they really like the apartment, but only one is even in the process of filling out the application which they’ve stalled on for a week now (using cozy). Advice for closing?

[Patricia Steiner]

Do a couple of quick checks:

How does your apartment compare to others in the same market?  Don't guess...google for rent in your zip code.  Is it as nice? Is the price comparable, higher?  Amenities?  From this information, you can adjust your price to reflect current market condition - or make a property adjustment (swap out a light fixture, something simple/inexpensive).

Are you marketing the apartment during the showing - or are you sharing lease terms?  Many landlords spend this time telling prospective tenants about the rent, security deposit, pet rule, etc., and forget to make the sale first.  Meet them in the parking lot and walk them to the unit - sharing what's great about the location, any amenities, etc.  Tell them what improvements have been made and share why you bought it ("it's an easy walk/drive to great restaurants, safe area, good long time residents - whatever).  

Big Lesson:  You're not showing an apartment.  You're selling a lifestyle.

Know that people start looking for their next home long before their current lease is up.  Ask when they're looking to move, where they're living now, how they have liked it.  You may find you're showing to a bunch of tire kickers or folks who aren't looking to move for 6 months.  It's best if you ask this on the phone - and offer only to show those who are looking to move in 30 days or less.  

Ask if the apartment is a good fit for them - not if they like it.  You may find they like it but they need more/less space/they have 50 cats.  

Weed out tire kickers on the phone and then show why moving to your great apartment is a great lifestyle choice.