Handling Vacancy Calls – A Quick Primer

I’m trying to become more efficient by using an assistant to handle some of my work. I’m starting off the process with showing a vacancy. From there we’ll see where it goes.

Unfortunately I heard from my new recruit that he got stood up by someone who was supposed to see the apartment. Then the next day I was on the phone 16 minutes (too long) with a call for a different place. I believe we can do better!

So I’ve given the assistant some tips, but my advice has been disorganized. I figured I’d write out a few things and hey, why not share it with you, the reader of the blog!

There’s a lot more to vacancies than just phone calls, but for now I want to focus in on what to do once the phone starts ringing.

To handle calls, I familiarize myself with the basic terms and amenities. I carry a cheat sheet with bedroom sizes, etc. so I can give a nice run down of features. You may not need a cheat sheet if you just have one place, but as your offerings grow, so will your confusion! The sheet is also where I record their basic info, special notes, etc. I have it set up as a spreadsheet I print & I check off boxes so I know I’ve talked to them about income, credit, etc. (more on that below).

This front end of the call is also a good time to ask if they’ve seen your website if you have one. That’s where we post all the info in one place – pictures, walk-through video, pet policy, etc. I might even text someone a link if they haven’t seen it yet. A good website can address a lot of their questions.

After the basic rundown, I let them talk a little. Now I said I had a 16 minute call the other day. That is too long, but to be fair that property was a rent to own and there were a lot of questions about terms, etc. Also I was walking my dog, so I wasn’t in a hurry! But if you let them talk a little bit some folks will tell you more than you asked. You may find they’re looking for this place because their girlfriend kicked them out after their third DUI. I particularly like to hear what an S.O.B. their current landlord is. Beware!

But if they want to see the place then you need to start collecting info. Incidentally I don’t offer to show the place if they don’t ask. If they’re interested they’ll ask. If they aren’t and you pressure them to see it, prepare yourself for someone being too friendly to say no, but not so friendly that they actually show up for their appointment!

Here’s what you need to ask:

• What are they looking for? Is there any must have or must avoid? If a garage is a must-have and you don’t have it, then let’s not waste our time showing the place.
• Get their name and phone number written down.
• Who is looking to move? I don’t ask the number of kids, but often they’ll tell you. What I want to know is if there are, for example, three adults then I don’t want to show it three separate times. Also if there are more than three adults, you need to know the local rules about how many unrelated people can share a place.
• When are they looking to move? If I’ve got a current vacancy I don’t want to show it to someone who’s not looking to move for 4 months. Our rule of thumb is 45 days or less. The rules would be different if the place is currently occupied, of course.
• What is their income like? We want at least 3x the rent and 2.5x rent + other payments (car, student loan, child support – but not utilities). If I’m lazy I’ll tell them we need at least 3x the rent & tell them what the number is (don’t expect them to do the math). If I’m in a better mood I ask what their income source is (I don’t want under the table pay, I want to know what this seasonal worker does during the off-season, etc.).
• What is their credit like? A lot of people will know their score. Almost everyone will know whether it’s good, bad, or ugly. You need to know what your rules are.
• Cover move-in money. Give them the rent, security deposit, and what that totals to. If in doubt, ask if they have that much money available now.
• Set up the appointment and ask them to confirm their time – “I need you to call or text me about an hour ahead of our appointment to confirm. I don’t head out without that! Okay? . . . Great, so we’ll hear from you tomorrow around 2:00 and we’ll see you around 3:00.”
• Always tell them if they want to apply at the showing, they need to bring their application deposit (what we use – maybe you want to use an application fee) and 3 years of housing and income history. They’ll need it for our application.
• Finally don’t ask things that are protected – don’t be a dumb dumb and ask about their race, marital status, sexuality, etc. They can tell you whatever they want, but there are things you can’t ask. If that isn’t obvious to you already, then you need to Google fair housing so you don’t get yourself in hot water.

A few final thoughts. When possible lump showings together – not just back-to-back but at the same time. That saves your time and creates the idea of scarcity. Also don’t set-up showings more than about 48 hours out. People are forgetful. If they want to see it a week from Tuesday, then let’s touch base next Sunday or Monday and set it up then.