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Marketing:
Display 'for rent' signs
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The benefits of signs as advertising tools are very apparent. What may not be apparent are the benefits of signs as compared to newspaper ads.
- The cost of a one-week newspaper ad can be $50. or more.
- You can buy more than 20 signs for $50.
- You can receive more phone calls from ONE SIGN as compared to the one-week newspaper ad.
- EVERYONE will see a sign. Not everyone will look at newspaper ads.
These are only a few of the benefits of signs as compared to newspaper ads. All forms of advertising have benefits and can aid in your search for good tenants, but none will be as cost effective as the for rent sign.
Tip!
Place a phone # only on your signs, it will be displayed larger and thus more easily seen.
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Screen Calls
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Sales, that's what screening calls is all about. Your product is a rental house and your client is a prospective tenant. Your job here is to find a way to convince your prospects that you have the perfect home for them. This can be difficult, all prospects have unique challenges and often they won't fit into your rental prospect mold. Many times your house will 'sell itself', so to speak. However, don't underestimate the power of becoming an excellent salesperson, it really can make a difference.
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Show House
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Make sure before a prospective tenant sees the inside of your house, they have seen the outside and the neighborhood. It's also a good idea to be selective about how often you show your house, pick one day of the week to schedule showings (all at the same time), this can be fun. When one or more of your prospects have an interest in the property have them fill out the "rental application" right then and there. This can be done later, but it's best to add to the friendly competition and throw in a sense of urgency for your prospects to think about.
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Process Rental Applications
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Most renters seem to have a glitch or two on their credit reports and you may run across an occasional criminal record. It's very important to have honest tenants and if they oops! forgot to tell you about that eviction two years ago, they probably aren't going to be living in your house. Be careful not to judge your prospects to harshly, tenants with bad credit and other miscellaneous problems can still make great tenants. Be sure to ask for LARGE deposits, this is what will give you a secure feeling when you rent to a not-so-perfect tenant.
Tip!
Ask for a 'holding fee' if your prospective tenant wants you to hold a house for them.
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