How Do I Get More Rental Applications?

Question

I have placed a For Rent sign out in front of a totally renovated 3bd/1ba corner house. I posted its availability on the local Facebook Marketplace. The posting outline min criterias; proof of income, background check & and min credit score.  I have received countless inquiries from interested parties. After I send them a standard fillable PDF format rental application, it's rarely sent back to me.  I don't hear from them again. What can I be doing wrong?

Filipe Pereira · Answer

I think you're making the process too difficult.

I agree that you should absolutely pre-screen every tenant before showing them the unit, but you need to be able to do that with as little work as possible to the prospective tenant. Think about it, there's probably an array of options for them. Are they really going to spend the 10 minutes it takes to download your form and send it back to you, or will they just click on the next Zillow ad they see instead?

Check out this post here for another idea on how to prescreen tenants:https://www.biggerpockets.com/forums/52/topics/476093-how-we-screened-300-tenants-with-zero-phone-calls-for-free

We have processed over 4,000 prospective tenants using this Google form. It generally takes under two or three minutes, the tenant doesn't have to download anything, email anything, or have the right app to be able to access it.  They are able to operate Zillow or Facebook, they are able to operate this Google form link.

Obviously isn't the only way to do it, it’s just another option. I will say that it has worked well for our property management company in connecticut.

Delicia M. · Answer

Quick update everyone... I took EVERYONE'S suggestion; asked pre-qualifying questions over the phone or via email, created a digital application, utilized a property management software called RentRent to complete background checks. I even looked into hiring a local property management company but they wanted 15%!!!!!.  The end result is I was able to rent three doors in less than two weeks after changing up my strategy and making is less cumbersome. Thank you all!

Kenneth Garrett · Answer

@Delicia M.

Welcome to self managing. Many inquiries very few actual interested parties is not unusual.  If your property is in a good area and fixed up you should get decent responses.  I disregard the interest, unless they actually view the property in person.  I always try to set up multiple visits at the same time.  Few reasons, lots of no shows, if you book two or more your odds are better someone will show.  If they all show it creates competition in interest, which is never bad.  Make sure your rent amount is at or below market rent.  Trying to create a higher market rent will limit you unless your property is fantastic.  Check out your competition.  Make sure your criteria is reasonable.  If your credit score requirement is 700 and the area is mostly 650 and less that will reduce activity.

I use Zillow to advertise it links to hot pads and trulia.  They now charge a small weekly fee, but I find it’s still worth it as most of my renters come through Zillow.

Joe Splitrock · Answer

@Delicia M. keep in mind that prequalifying tenants doesn't involve any work on your side. In other words, you ask them their income but you don't verify it. That happens when they submit the full application. As strange as it sounds, you want less showings and you want less applicants. Too many showings is a sign that you have not done a good job prequalifying. Too many applicants probably means either bad qualification or your price is too low. You only need one showing and one application to get one tenant. It rarely works that way, but I hope you understand my point.

Account Closed · Answer

@Delicia M.

If I read that correctly you make them fill out a full application prior to viewing? If so, stop that. Use 8-10 pre screening questions instead. Don’t shoot for more responses, shoot for more QUALIFIED responses. Clearly outline what you have and don’t have. And don’t even waste time with folks who ask questions that were very clearly answered in the ad. Facebook is the bottom of the barrel as far as quality of responses goes. Like posting flyers on windshields at a baseball game.

Anthony Wick · Answer

I guess it's different everywhere, but I mainly do a verbal/answer a couple questions, prior to a showing. Sure, it could lead to more showings than is "necessary", but I don't know if anybody in my area requires a written application prior to a showing.

When are you looking to move? Do you meet the qualifications in the posting? How many people would live there? Do you have any pets?

Then, if they decide to apply after seeing the place, I go into complete details on application process.

Delicia M. · Answer

Filipe and Ujwal, I agree. I think the roadblock is the application. I will create a Simple Google form to help me quickly prequalify applicants. Thank you both.

Percy Matsunaga · Answer

@Delicia M.

Here is another solution. Try reaching out to your local property managers and incentivize them to help you find a potential tenant. you could do by % of rental or a flat rate of finding the application. either way, it’s another avenue to help get more apps.

Mike McCarthy · Answer

I agree with @Kenneth Garrett. It’s not uncommon for me to get 10 leads for every 1 that actually sees the house. I found that in my market Craigslist was the worst with this(though others swear by it). My favorite (again, in my market) is Zillow. Still a lot of interest, but at least some of those convert to showings and rentals.

I also no longer put personal requirements in the ad. I include utilities, pets, and availability, but I no longer mention income or credit score. Though my rentals are B/B+, so the prices help weed out some of the riffraff. Your mileage may vary.

Michael Noto · Answer

@Delicia M. Are you posting the rent in your ad? If you are waiting to tell them the rent when you respond they may think the rent is to high and that is the reason for the lack of interest in taking next steps.

If that isn't the issue, odds are you are making things too cumbersome and involved for the perspective tenants to want to deal with. Fine tune that initial contact back and keep it as short as possible while getting your point across.

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