Just Listed my apartment....bombarded with calls and emails!

85 Replies

@Robert P. What's the update? Have you had any showings? Any applications? Lots of interest doesn't always translate into lots of applications. Plenty of good advice here on how to manage the screening process better. If your unit is one of the most expensive and you're getting lots of applications, you are either under-priced or you have found an unmet need in that area.

Click back a few posts and you will see the turn out @John Casmon . I think the biggest turn on about my apartment is that it is BRAND NEW. Compared to other apartments that are older, no updated bathrooms or kitchens, etc. I have off-street parking and a yard that can be used which is rare to find when looking for an apartment. Also it was a first floor apartment. Maybe I could have gotten a little more money, but there were also a lot of people who applied that weren't even qualified for the place.

@Robert P. I have found that in my area, there is always a ton of interest, especially when it takes zero effort to click on a button in Trulia or Zillow, but a lot of those people can't get past the initial 4 screening questions. 1. What pets do you have?  2. How many total occupants will live in the unit? (our cities rental licensing dictates the max #) 3.What is the total gross verifiable income? You'd be surprised how many people calling make 28-38k a year when the rent is $1600/month and 3x is $58,000. 4) Credit scores? We don't just go off the number, but the score can give you an idea of the likelihood of it working out.

I *much* prefer to do rental open houses with no prescreen. The prescreening, setting specific showing times, and confirming is a pain.  But I won't do a rental open house when the place is tenant occupied because I can't keep my eyes on more than one set of people and my tenants do leave stuff out.

We don't put in our ad specifically what the limits are to the above questions because we found it encourages people to lie. If people ask, "What is your pet policy" I counter with "what pets do you have?"  

@Robert P. did not see that 3rd page. Congrats on getting it rented and glad your strategy worked out. As others have said your unit is probably under-priced and that's absolutely fine as it allows you to select the ideal tenant. However, by being under priced, you could be forgoing $1k to $2k annually. At the end of the day, this is an investment. However, that investment is not limited to money as your time, effort and energy are just as important.  Congrats again for getting your place rented! 

@Wes Brand  Dude isn't it accepted that what the rules are for one market don't necessarily translate to another market? I imagine it's the same for strategy. You've beat this "under market" thing to death. It seems you won't let this go till you get some sort of validation for being right. Truly ponderous. I live in the same town as @Robert P. and if his rent is one of the highest in the area already, trust me, he's doing it right. You are in Cali. Totally different market and mindset. I'm happy for any success you have there and glad you know how to play the game in your area but it's a whole different animal here.

@Robert P. seems to be doing just fine. He's set his strategy, He knows what he needs to cash flow the way he wants and everyone's happy. I call that success