About Me

Brentnie Daggett

Blogs Home » Browse Blogs » Tips for Hosting The Best Open House for Rental Applicants

Tips for Hosting The Best Open House for Rental Applicants

Open houses have been used in the real estate sector for decades for a reason--they garnish additional interest from potential onlookers, create a sense of urgency with a full house, and make it easier to manage viewing requests since they can be consolidated to the open house. This technique not only is fantastic for sellers to find buyers but can be great for landlords to find the perfect applicants.

 

Creating an open house for rental applicants can be an ideal solution for bringing interest into your property and for consolidating the work associated with showings, and a great open house can assist you in finding your dream tenants. The trick is to make certain that your event is both well-organized and well-attended. This shows that your unit is highly sought-after and appeals to your potential tenants fear of missing out.

 

Put Your Best Foot Forward:

 

No event is successful without adequate time and planning. Be sure that you allow yourself plenty of time to set up before the open house starts, and verify that the house is in move-in condition before arranging an open house. A unit that still needs repairs, stains removed or cleaning completed is one that prospects will either haggle pricing for, or take little interest in altogether. To get the best possible applicants, at the best possible return on investment, be sure that you are showing the unit only when it is fully ready to take on a new tenant.

Guarantee Interest:

 

Advertise your property’s assets as much as possible. Utilize various means of media if possible, but ensure that you have high-quality photographs of the unit and its surrounding area. Informative and aesthetically appealing flyers do not need to be expensive, utilize one of the many free online programs available--canva.com is one of these that is user-friendly and has free or cheap graphics. Don’t forget to create signs to direct traffic for the day-of the event itself

 

Outside of advertising leading up to the event, ensure you get hits by offering a raffle for those that attend. While cookies are nice if you have baking skills, there are few renters who would pass up the opportunity to view an available rental and a chance to win a $10-$15 gift card. It’s not a huge investment for you, but definitely, holds more appeal than an oatmeal cookie.

 

Make it Worth Your While:

 

Open houses take a lot of planning, time and effort out of your schedule, so avoid tasks that will create extra stress. Any renters who wish to view the property should be directed to the open house, don’t attempt to accommodate everyone, simply let them know the date and time that the house will be available for viewing. Consolidating your viewings into one group showing is the huge benefit of an open house, so remain firm until after the event has taken place.

 

To ensure the best turn-out, set the time and date for a 2 hour period (ideally after lunch one a weekend.) Don’t forget to have every attendee sign-in, this allows you an easy way to keep track of potentially interested people and their email addresses. Not only will this be beneficial for you now, but it can serve as a lead generation list the next time a property you manage is available in the near future. To truly get the ball rolling, provide applications for any interested prospects to fill out on the spot, or include a postcard of information about your property, its amenities and the way to apply online.

 

With these tips and a little elbow grease, you may find that your turnover is decreased, your stress level is minimal and you are able to directly compare all your prospective applicants at the same time. An open house and great tenant screening can be exactly what you need to find the long-term tenants you’ve been dreaming of.

 

Have you had any experience with rental open houses? Let us know in the comments!









0 comments
1 album found