Just so you know, you the readers are my best source of topics and posts. So if you have a question about Real Estate, being a landlord or wondering what the hell I do, send me an email or post a comment. That is where today’s Landlord Tip came from.
A reader emailed me and asked if it was better to show his property before prospective tenants viewed other properties or after. The context was whether it’s better to be the 6:00 appointment after work or the 8:00 after they have viewed three or four other places.
I have two components to this answer. The first one is, I love to have tenants see my property and allow me to set the bar higher than the average rental property out there. Due to our standards we strive to have rental properties that are in the top 25% of the properties out there. If you are going to do something do it right. By being in the top 25% we know a) we stand out from the crowd, b) people automatically prefer our properties to 75% of the places out there and c) we can charge a premium for a better product!
By talking to prospective tenants you get a pretty good picture of what they have already seen (you are talking to your tenants about other places aren’t you?). Typically in our area if they have looked at three properties there are two they have deemed unsuitable already. 50% of the properties for rent these days are for rent because the tenants have more choices and are able to move out of places that landlords don’t maintain. So if 50% are essentially crap, I’m only competing with one other, so it’s perfect they see mine first.
The other component is, if they view mine last, they know what property they like best. I can control the situation better by getting the application filled out on the spot and pointing out the best features of my property to reinforce how great it is. If I was the first property they saw, they would either have had to fill out the application with you already, or taken it with them to fax back. This takes a bit of the control away from you if they have to fax it back, or you have to follow up with them to see what is going on. Plus it takes more time!
One other thought to throw in. If your property has huge windows, great views and really shines when the sun is out, make sure the sun is out when you show it. If that is the biggest selling point it doesn’t make sense to show the property at 8:00 when the sun is down.
If however the property may be a bit lower than your standards, by all means who it at night where the lighting is worse. Just remember you want to strive to be in the top tier to be really successful, this means great properties, not substandard.
I will ask this in a separate post, but did anyone listen to the audio stream on the previous post? Would love to get some feedback about it!
Hello Bill,
I ‘m a retired Toastmaster & I listened to the audio on your last posting. Your public reading sounded excellent once I turned the volume up high & could hear you. I suspect that this was caused by looking down at your notes. Next time you might want to try either or both, 1) placing your notes at eye level, or getting closer to the mic. If these sugestions don’t work for you, you may just have to project your strong masculine voice a little more. I know you can do it! For a first attempt at a new media you’ve done an excellent job.
On a different topic. We have sold our house in Forest Lawn & my business.
We are now living in Edmonton. Our e-mail has not changed so we still get your postings. I like receiving them as I have a new friend who is a novice landlord & I pass on the tips to her.
Hello to Karen,I had no idea you had such an artistic streak in you! Glad you found a way to let it out.
Hugs to both of you!
Audrey
Hi Audrey, thanks for the tips, the volume problem had something to do with the conversion process to the flash player on the site. I think the “cost effective” microphone didn’t help either, but prior to uploading the volumes were quite good. But practice makes perfect, so there will be more to come!
Great to hear you sold your property and things are going well. If your friend would like to receive the emails as well, they can register at this link Investors Housez Blog Subscription. Please keep us updated on how things are going for you and say hi to Terry for us.