Show prospects a property before or after they apply? Which is best?

Question

This part of landlording and managing property has always confused me, so I'm hoping to learn if there is a "best sequence" to use when prospects call to express interest in a  property for rent?   Most of them invariably want to tour the inside to see if they like it well enough to apply, but is that the best method from the owner or manager's viewpoint?

I believe it's probably better to screen applicants first by phone or e-mail, then only show properties to those who seem promising after an initial review. That reduces showings to unqualified people, which can be a big time saver.
I would love to know how others do it!

Eliott Elias · Answer

You want a potential tenant to walk the property before applying. You want zero confusion or hiccups by the time they move in.

Nathan Gesner · Answer

Start with a pre-screening. This takes place by adding your primary qualifcations in the marketing ad. Then you can follow up with a phone conversation to ask a few basic questions (When do you want to move in? Do you have pets? Do you have income of 3x the rent rate?).

Most people will not fill out an application until they know the property will suit their needs, so you'll immediately eliminate a lot of good prospects if you force them to apply first.

Adam Martin · Answer

I like to do the prescreening on the phone and take notes.  This weeds out a good amount of people which is just a list of a few questions I have.  Many people are pretty forthcoming and I just let them know that this is just to make the best use of their time and I'd hate for them to like the place and pay to apply when I can't rent to them.  I encourage them to be honest and most people are.  I don't think everyone understands the full eviction process but I ask them if they were and a lot of people tell me that it was filed but they moved.  I don't know if this would show on my check but I'm not interested so it may catch a few my screener wouldn't.  From there I schedule showings in 30 minute blocks back to back and the home is 90% done so if someone no shows me I just clean some windows or finalize some touch up paint.  I am big on the prescreening as some prospects get upset and I have had a few get hostile over the phone, I'm not looking to have that conversation in person.

That was a long winded way to say I prescreen but don't actually have them submit and pay for an application before viewing.  I want to get an idea but I personally wouldn't pay for the privilege of looking at a house and I think good tenants know they don't have to and will find another more reasonable landlord.  Also I have had a few people tour that were just nuts and maybe they qualified maybe not but I was no longer interested good sir after you repeatedly put your hand in a mole trap when told not to.  That poor wife knew they were done at that point and they just left with her family and I never head back even though I think they were really interested.  If they already applied and saw the place I really don't see why you could say no to someone who may not be a great fit personality wise.

Amber Forkey · Answer

This is a great idea as well. Once I qualify someone and I add them to my calendar, I stack appointments around that time so I'm not doing a singular showing.

Russell Brazil · Answer

Show the property to anyone who wants to see it. Push all showings to the same time so you dont make multiple trips.

Amber Forkey · Answer

Hi @Ed B.! How I do it is, I screen all of my prospects before setting the appointment to ensure they meet my basic criteria. I look for 3x rent amount in income (before taxes), I find out if they know what their credit score is and ask if they have any blemishes on their background. From here I generally have a good idea if they will qualify or not.

I have a phone interview sheet I can send you if you'd like to reach out.

I don't pull credit/background just to show the place but I let them know that will be the next step which is a good segway into talking about their history. For example, if they just had a car repossessed 4 months ago, I won't be able to approve them without a co-signer. However, if the state is paying 100% of their rent this doesn't apply in NY.