As a property manager or a landlord, one way you can attract quality tenants is by hosting “Landlord’s Open House”. It is an event that allows you to show your property to multiple interested potential tenants all at the same time.
Many real estate agents have used this technique in the past. Certainly, as a property manager or landlord, this can work for you if you know how to do it well. Potential tenants will like to see the place they will stay before making a commitment. Most tenants will usually want to minimize the time spend when they are trying to find their next home.
Leveraging what is known as “Landlord’s Open House” is a great opportunity to show your rental property to potential tenants. Not only will this help you to attract quality tenants, it will also save you time and money. Instead, of making out time to show different tenants the rental property at different times, you can arrange to have all of them come the same day and take a look.
The great thing about this is that it will help tenants who are on the fence to make up their mind quick. When a potential tenant see that other people are also interested in the house, this will certainly motivate them into taking action fast. In this article, you will learn of an easy way to organize an open house for your Los Angeles rental property.
Top Way To Organize “Landlord’s Open House” For Your Rental Property
- Make an Appointment
The first thing to do is to ensure that you make appointment with potential tenants to meet in the same day. You can schedule the appointments within 30 minutes of each other.
This way, you can be able to attend to them within couple of hours. It is recommended that you encourage your potential tenants to come for the event with their deposit check. If you do this well, you will definitely have multiple applicants by the end of the day.
- Talk To your Current Tenants
If you already have some tenants living in the property, you should communicate to them about your intention to have “Landlord’s Open House”. Do not lie to them about your intentions. Tell them the event may be a little uncomfortable for them so they will need to leave for the day. This may sound a little inconveniencing to them. However, the bright side is that you will only inconvenience them for few hours in just one day instead of individuals showings scattered throughout the week.
Let them understand that this will make it less disruptive for them and minimize the invasion of their personal space.
Advertise Your Event
Once you have planned the event, make sure you start placing advert about the “Landlord’s Open House” on various channels. Start your advert early; you can start 2 to 3 weeks before the main event.
You can place your advert on social media platform such as Facebook, Instagram, and Twitter. You can also leverage other platforms such as Craigslist to advertise your open house. Make sure you place your adverts on the right channel. You can avoid using the word ‘open house’ so that you won’t give people the impression that they can just show up anytime they want.
- Attend to Inquiries
If you do your advert well, you will certainly get people reaching out to you. Make sure that you attend to them as soon as possible. You can have about 5 to 10 showings in a day. You may plan to start the showing by 1pm and end by 5pm; each showing lasting just 30 minutes. Make sure you get the contact detail of anyone that express interest in the event.
Send Out Reminders
Don’t forget to send reminders of appointment to people that express interest on your event. Ideally, you need to make sure that they still have it in mind to come to the event. This will help you plan well. Send out reminders 3 days to the event, as well as 24 hours to the event.
As a property manager, you can certainly get some quality tenants when you leverage “Landlord’s Open House”. This event is a great way to save money and time when you are searching for quality tenants.