My good buddy, Jeffery Taylor, sent me another fantastic article. he is know across the country as Mr. Landlord because he knows how to squeeze every dime out of tentants while keeping them happy!
1. Put signs with flags on busy streets. Put several signs and flags in the front yard.
2. Lock your purse in your trunk.
3. Don’t forget to check out the cars of prospective residents.
4. Have plenty of applications on hand along with extra pens.
5. Try to get all prospective residents to sign a visitor sheet or guest cards.
6. Market like a crazy person — The plan is to get as many bodies in there as possible.
7. Use multiple signs, streamers, balloons, etc.
8. Have property flyers and informative sheets to hand out. If they leave with nothing, you have not done your job.
9. Don’t worry about getting a flood of prospects. All you need are a couple of good applicants.
10. Have the place rent-ready–super clean. A good rental must say “Welcome!” from the curb.
11. Have the place smelling great. We just use Plug-Ins. If you do bake cookies, NO CHOCOLATE CHIP! The chocolate goo can get on your carpet!
12. Advertise on Craigslist. Have someone with you for the Open House.
13. Have either you or a helper take pictures of the visitors because you may get some shady folks. You never know.
14. Put out your Open House signs a day or two before the actual open house.
15. I make sure the neighbors know beforehand that I am offering a Rental Open House. Pass out at least 50 flyers in the neighborhood. Offer a referral fee as people prefer to live next to people they like.
16. Have the associated costs on the table on a sign so everyone knows how much they will be paying. I only negotiate up, not down.
17. You can also buy scented candles at the dollar store that have a cookie smell. A Christmas cookie, Cinnamon, or Vanilla scents are good choices. It’s often better than having the real messy thing.
18. When people respond to my Craigslist ad, if there is an excessive number that respond, I’ll stagger the times the house is being shown. That way, I won’t have everyone show up at the same time. For example, I’ll tell the first 10 people that the Open House is between 10:00 am and 11:00 am. The second set gets the times between 11:00 am and 12:00 pm. Everyone wants to be there when I first open the door. This way, they all get their way.
19. Under most circumstances, I tell everyone the same time. It won’t be so crowded you cannot talk to them and when they see that others are interested. Breeds a little “Get it quick before it’s gone” attitude. I would say “Open House at noon” and they all came then. It’s usually over in about 35-45 minutes.
Hope this helps you keep your rentals rented!
Be a Blessing,