Tips for holding my first open house!

[Brandon Kmiotek]

Hello! This weekend I will be hosting my first open house to show a unit I just recently purchased. The unit is 2 bedrooms and is recently renovated. I plan on posting an ad on craigslist and zillow stating details of the unit and that I will be hosting a open house. Also, I have not picked an application process yet. I have heard of cozy and tellus, and other recommendations?

I'm looking for any feed back that can help me out! Thanks!

[Kenny Dahill]

Hi @Brandon Kmiotek, congrats on the purchase!  You've got this.

• Bring printed applications in case they want to fill it out there
• Have food and water.  Never hurts to make a nice first impression
• Tell them you are only a manager, or partner.  Any final decisions will need to be made to the principles.  This is your opportunity to avoid any 'needy' questions.  'Can you fix this, or that...'
• Zillow is good.  Craigslist is bad.  Also try Facebook Marketplace
• Have a standard email written and ready to copy/paste.
• Know your financial requirements for tenants.  3:1 rent-to-income.  Last 2 months of bank statements and pay stubs
• Know what utilities tenants pay for.  Applicants typically ask 'what's the average utility bill cost'.  Figure that out.
• Follow FHA laws about discrimination!
• Identify the best parts of the house and sell them on it.  For example, one of my rentals has a really good HVAC that saves 15-25% during the summer months.  That's money back in their pockets!

These were a few items off the top of my head.  Best of luck!