Prescreening Prior to Showing & Still Nothing
We recently placed a duplex up for rent on Zillow, FB Marketplace, etc and on the description I clearly have the minimum requirements listed (600 credit score, 3x rent etc). When prospective tenants reach out, I then again send them the minimum requirements and ask if they meet them. So far I’ve shown the unit four times with zero applications and one with a couple of evictions. Three of the responses are because “they ran the numbers and the unit doesn’t fit within their budget.” What am I doing wrong? If they don’t meet the quals, why are they still requesting to see the unit? Any other suggestions on how to prevent these instances from reoccurring short of having them apply before I show the units?
Most Popular Reply
Hey Erik
Might be able to help you out a bit here. First off, how's your marketing of the property. Is the unit tip top, are your photos professional, is it priced accurately, does your listing have all the proper call outs and are you really 'selling' the property and putting it's best foot forward. It just doesn't sound like you're getting enough leads to me. Beyond that, what I personally do is I won't show an apartment until I have a completed application that passes my standards (which are similar to yours).
To me it sounds like you've got a lot of the bases covered but may need to update a few things to make it more appetizing. Also make sure your asking rent price isn't right at the top of going rates. I'll take a quality resident a few bucks under top dollar any day of the week.
Happy Investing !
Jaryn