Cleveland Real Estate Forum
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago, 02/26/2020
Is this normal or am I doing something wrong
Good Morning Bigger pockets,
I have recently put up for listing my first duplex. This property has been made into about as turnkey as it gets so i have no concerns, However i have one problem. I've received about 15 inquires and the property has been up just over one week. I always reply with a a few sentences thanking them for showing interest in my listing and i would like to have a quick phone discussion with them before showing the property. I do this so i can phone screen potential tenants before wasting time on a dead end. Out of this process only 2 people have ever responded back to my message. Is this normal or perhaps im wording things in a way that scares them away?
- Rental Property Investor
- SE Michigan
- 5,491
- Votes |
- 3,817
- Posts
Your experience is not unusual.
The really bad tenants have to call a number of properties to find someone who won't screen.
Of course, there are some qualified people that will drop out for whatever reason. Your challenge is to make the process as easy as possible for prospective tenants while also minimizing your workload and still screening appropriately.
If they email inquiry, then email some brief questions... I ask for Monthly income, number of people in household, approximate credit score, pets, have you ever been evicted. You can ask how long on current job and reason for moving.
You can send them your written requirements, to avoid possible fair housing violations.
If they call, you can do this all on the phone.
Rule of thumb is to follow up using the same technology as prospect uses. If they give a phone number, then call them.
About 3 in 3 appointments will be no show. It is always appropriate to confirm day before and day of appointment.
Good luck
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
- 18,853
- Votes |
- 27,773
- Posts
Originally posted by @Brandon Metz:
Good Morning Bigger pockets,
I have recently put up for listing my first duplex. This property has been made into about as turnkey as it gets so i have no concerns, However i have one problem. I've received about 15 inquires and the property has been up just over one week. I always reply with a a few sentences thanking them for showing interest in my listing and i would like to have a quick phone discussion with them before showing the property. I do this so i can phone screen potential tenants before wasting time on a dead end. Out of this process only 2 people have ever responded back to my message. Is this normal or perhaps im wording things in a way that scares them away?
This is normal. Tenant applicants are very flaky. This is also why you should do group showings. If you set up 15 showings only a couple people will actually show up.
Listing on all the big rental sites generates a flood of leads, but only about 1 or 2 in 10 ever respond to our follow up emails and texts. Of those, only 20%-30% provide any initial pre-background check information, and relatively few of those actually show up at the open houses our property manager hosts. Be sure you're using as many avenues as possible to generate leads, including the big apartment websites, Craigslist, Facebook marketplace, and a window or lawn sign.
Originally posted by @Bob Collett:
If they email inquiry, then email some brief questions... I ask for Monthly income, number of people in household, approximate credit score, pets, have you ever been evicted. You can ask how long on current job and reason for moving.
You can send them your written requirements, to avoid possible fair housing violations.
If they call, you can do this all on the phone.
Rule of thumb is to follow up using the same technology as prospect uses. If they give a phone number, then call them.
About 3 in 3 appointments will be no show. It is always appropriate to confirm day before and day of appointment.
Good luck
To echo the fair housing comment: take some time and a good understanding of the rules and requirements placed on you. There are many common misconceptions of the requirements placed on you, and mistakes can cost you a fortune.